Asset Trigger Event definition

Asset Trigger Event means the event that occurs when an amount is debited to the Class A Principal Deficiency Sub Ledger established for any Issuer with respect to the Class A Notes of that Issuer;

Asset Trigger Event means the occurrence of any one or more of:

Asset Trigger Event means the event that occurs when there is a positive balance on the Class A Principal Deficiency Sub-Ledger in respect of any Issuer;

Examples of Asset Trigger Event in a sentence

• Unless and until the Funding 1 Share of the Trust Property is in an amount equal to zero or an Asset Trigger Event occurs, the Seller will not be entitled to receive Principal Receipts which would reduce the Seller Share of the Trust Property to an amount less than the Minimum Seller Share and the Seller consents and directs the Mortgages Trustee accordingly.

• Unless and until the Funding Share of the Trust Property is in an amount equal to zero, or following the occurrence of an Asset Trigger Event, the Seller will not be entitled to receive Mortgages Trustee Principal Receipts which would reduce the Seller Share of the Trust Property to an amount less than the Minimum Seller Share and the Seller consents and directs the Mortgages Trustee accordingly.

• Unless and until the Funding Share of the Trust Property is in an amount equal to zero or an Asset Trigger Event occurs, the Seller will not be entitled to receive Principal Receipts which would reduce the Seller Share of the Trust Property to an amount less than the Minimum Seller Share and the Seller consents and directs the Mortgages Trustee accordingly.

• Unless and until the Funding Share is in an amount equal to zero or an Asset Trigger Event occurs, the Seller will not be entitled to receive Principal Receipts which would reduce the Seller Share to an amount less than the Minimum Seller Share and the Seller consents and directs the Mortgages Trustee accordingly.

• Unless and until both the Funding 1 Share and the Funding 2 Share of the Trust Property are in an amount equal to zero or an Asset Trigger Event occurs, the Seller will not be entitled to receive Principal Receipts which would reduce the Seller Share of the Trust Property to an amount less than the Minimum Seller Share and the Seller consents and directs the Mortgages Trustee accordingly.

More Definitions of Asset Trigger Event

Asset Trigger Event means the event that occurs when there is a positive balance on the AAA Principal Deficiency Sub-Ledger. The terms of an Asset Trigger Event may change if Funding 1 enters into a new intercompany loan agreement;

Asset Trigger Event. ’ means the event that occurs when there is a positive balance on the Class A Principal Deficiency Sub-Ledger in respect of any Issuer;

Asset Trigger Event. On or after the occurrence of a Non-Asset Trigger Event and until the occurrence of an Asset Trigger Event, the Cash Manager (at the direction of the Mortgages Trustee acting on behalf of the Beneficiaries at their direction and with their consent which is hereby given) shall, on each Distribution Date (including, if applicable, any Distribution Date on which a Non-Asset Trigger Event occurs), apply all Mortgages Trustee Principal Receipts to Funding until the Funding Share of the Trust Property has been reduced to zero and shall thereafter, on each Distribution Date, apply all Mortgages Trustee Principal Receipts to the Seller.

Asset Trigger Event means the event that occurs when an amount is debited to the Principal Deficiency Sub Ledger in relation to the Class A Notes of any Funding 2 Issuer or to the AAA Principal Deficiency Sub-Ledger of Funding 2;

Asset Trigger Event. ’ means the event that occurs when there is a positive balance on the AAA Principal Deficiency Sub-Ledger. The terms of an Asset Trigger Event may change if Funding 1 enters into a new intercompany loan agreement;

Asset Trigger Event means any of the following events: (a) an Insolvency Event occurs in relation to the Seller, (b) the role of the Seller as Administrator under the Administration Agreement is terminated and a new Administrator is not appointed within 60 days, or (c) on the Distribution Date immediately succeeding a Seller Share Event Distribution Date, the Current Seller Share is equal to or less than the Minimum Seller Share (determined using the amounts of the Current Seller Share and Minimum Seller Share that would exist after making the distributions of mortgages trustee principal receipts due on that Distribution Date on the basis that the Cash Manager assumes that those mortgages trustee principal receipts are distributed in the manner described under "- Mortgages trustee allocation and distribution of mortgages trustee principal receipts prior to the occurrence of a trigger event" in the prospectus);

Asset Trigger Event means any of the following events: (a) an Insolvency Event occurs in relation to the Seller, or (b) the role of the Seller as Administrator under the Administration Agreement is terminated and a new Administrator is not appointed within 60 days, or (c) on the Distribution Date immediately succeeding a Seller Share Event Distribution Date, the Current Seller Share is equal to or less than the Minimum Seller Share;