Examples of Delinquency Event in a sentence

As to any Distribution Date on which a Delinquency Event does not exist, the Required Overcollateralization Amount without giving effect to the OC Floor calculation.
On any Distribution Date on which a Delinquency Event or a Cumulative Loss Event has occurred, the Required Overcollateralization Amount is equal to the Required Overcollateralization Amount as of the preceding Distribution Date.
As to any Distribution Date on which a Delinquency Event does not exist, the Required Overcollateralization Amount II without giving effect to the OC Floor calculation.
Delinquency Event: The three-month rolling average of the percentage of Mortgage Loans 60+ days delinquent exceeds [50%] of the percentage equal to the credit enhancement provided to the Senior Certificates.
Senior Principal Distribution Amount: As to any Distribution Date prior to the Stepdown Date or during the continuation of a Delinquency Event, the lesser of (i) 100% of the Principal Distribution Amount and (ii) the aggregate principal balance of the Class A Certificates.

More Definitions of Delinquency Event

Delinquency Event. A Delinquency Event shall have occurred and be continuing if at any time, (x) the three-month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 61 days or more Delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period equals or exceeds (y) 50% of the Senior Enhancement Percentage for such Distribution Date.

Delinquency Event. If, as to any Distribution Date, the Rolling Three Month Delinquency Rate as of the last day of the immediately preceding calendar month equals or exceeds 50% of the Senior Enhancement Percentage for such Distribution Date.

Delinquency Event. A Delinquency Event shall have occurred and be continuing if at any time, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more Delinquent (including for this purpose any such Mortgage Loans in bankruptcy or foreclosure and Mortgage Loans with respect to which the related Mortgaged Property is REO Property), and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the prior calendar month) exceeds (y) 48.95% of the Current Specified Enhancement Percentage.

Delinquency Event. A Delinquency Event will have occurred with respect to any Distribution Date if the 60-Day Delinquency Rate as of the last day of the immediately preceding calendar month exceeds 14.00%.

Delinquency Event. A Delinquency Event shall be in effect on a Distribution Date, if the Three Month Delinquency Rate exceeds 42.00% of the Senior Enhancement Percentage for such Distribution Date. Delta: Delta Funding Corporation, a New York corporation, or any successor thereto.