Cash Accumulation Event definition

Cash Accumulation Event shall commence on any Determination Date if the average of the Delinquency Levels for the last three Due Periods is greater than or equal to 7.00% and shall continue until the Determination Date where the average of the Delinquency Levels for the last three Due Periods is less than 7.00%.

Cash Accumulation Event means the occurrence of any of the following events:

Cash Accumulation Event. Any of the events set forth as such in Section 6.3.2 of the Certificate Issuance Order.

Examples of Cash Accumulation Event in a sentence

• A Cash Accumulation Event shall be deemed to be continuing until waived by the Agent in its sole discretion.

• Such certificate shall state whether or not a Rapid Amortization Event, Cash Accumulation Event or Servicer Default has occurred and shall also identify which, if any, Pledged Loans have been identified as Defective Loans or have become Defaulted Loans during the preceding Due Period and if a Cash Accumulation Event has occurred.

• Such certificate shall state whether or not a Rapid Amortization Period, Cash Accumulation Event or Servicer Default has occurred and shall also identify which, if any, Pledged Loans have been identified as Defective Loans or have become Defaulted Loans during the preceding Due Period and if a Cash Accumulation Event has occurred.

• A Cash Accumulation Event shall be deemed to be continuing until waived by the Funding Agents in their sole discretion.

• If a Servicer Event of Default, a Subservicer Event of Default, a Cash Accumulation Event or a Trigger Event has occurred, the reasonable costs of providing the foregoing shall be borne by the Servicer; otherwise, the Person seeking the foregoing shall pay its, his or her own expenses relating to the foregoing.

More Definitions of Cash Accumulation Event

Cash Accumulation Event for the 2005-A Certificates means any of the following events: (a) any of the Early Amortization Events other than the Early Amortization Events specified in Sections 9.1(a), (b) and (c) of the Trust Sale and Servicing Agreement, and (b) the commencement of the Wind Down Period.

Cash Accumulation Event shall exist on any Determination Date, if (A) for the last three Due Periods, the average Delinquency Level for Timeshare Loans that are 61 days or more delinquent is equal to or greater than 6%, or (B) for the last six Due Periods, the average Default Level is equal to or greater than 12%, or (C) the Cumulative Default Level is equal to or greater than the applicable Cumulative Default Percentage, or (D) four or more of the Bluegreen Developed Resorts have their respective ratings from RCI or II, as applicable, downgraded below the related rating that was assigned thereto on the Closing Date, or (E) the Servicer (if Bluegreen) fails to have at least $75,000,000 in financing facilities in place. A Cash Accumulation Event shall be deemed to be continuing until the earlier of (A) the immediately following Determination Date upon which none of the events described in this paragraph exists and (B) the day on which the Outstanding Note Balance of each Class of Notes has been reduced to zero.

Cash Accumulation Event for the 2004-A Term Notes means any of the following events:

Cash Accumulation Event occurs if, on any Determination Date, the average of the Delinquency Ratios for the three immediately preceding Due Periods is greater than 5.00%. A Cash Accumulation Event will continue until the average of the Delinquency Ratios for the three immediately preceding Due Periods is equal to or less than 5.00% for three consecutive Determination Dates.

Cash Accumulation Event. With respect to any class or series of Term Notes or class of Certificates, any of the events designated as such herein or in the Officer’s Issuance Certificate or the Trust Agreement or Certificate Issuance Order applicable to such class or series of Term Notes or class of Certificates.

Cash Accumulation Event shall exist on any date of determination if (i) on any Determination Date if for the related Cash Accumulation Measurement Period (a) the average Delinquency Level (Trust Estate) is greater than 8%, or (b) the average Default Level (Trust Estate) is greater than 10% or (ii) an event of default (or other defined term or event having similar purpose) occurs under a Material Credit Facility (other than the Corporate Revolver Facility) and the indebtedness related thereto has not been accelerated. A Cash Accumulation Event shall be deemed to be continuing until waived by the Funding Agents in their sole discretion.

Cash Accumulation Event for the 2005-A Term Notes means any of the following events: