Delinquency Put Event definition

Delinquency Put Event means, with respect to any Pledged Loan, such Loan shall have become 210 days delinquent.
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Delinquency Put Event means, with respect to any Financed Student Loan, such Financed Student Loan shall have become 210 days delinquent.
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Examples of Delinquency Put Event in a sentence

  • Notwithstanding anything contained herein to the contrary, the Department shall not be required to purchase Loans hereunder for an aggregate Put Price (not including the Put Price related to Loans purchased hereunder with respect to which a Delinquency Put Event has occurred) in excess of (i) $500,000,000 per week during any Calendar Week prior to July 20, 2009 or (ii) $10,000,000,000 on any Put Date on or after July 20, 2009 (the “Daily Put Limit”).

  • With respect to the Loans that have been designated as Put Events (1), (2), (3), (4) or (6) Loans, this Notice shall become irrevocable on the date fifteen (15) days from the date hereof and with respect to a Delinquency Put Event, this Notice shall become irrevocable on the date thirty (30) after the date upon which such Put Event shall have occurred.

  • Subject to Section 4B hereof, a Put Notice shall become irrevocable on the date (the “Revocation Date”) (a) with respect to a Put Event under clauses (i) through (iv) and (vi) of the definition thereof, fifteen (15) days after the delivery to the Department of such Put Notice and (b) with respect to a Delinquency Put Event, thirty (30) days after the date upon which such Put Event shall have occurred.

  • Unless the Delinquent Student Loan shall be sold prior to the Revocation Date for the related Delinquency Put Event, the Conduit Lender shall sell such Delinquent Student Loan to the Department in accordance with the Department Put Agreement, effective as of the related Delinquency Put Date, at a purchase price equal to the Department Put Price for such Student Loan.

  • On the Revocation Date, the Conduit Administrator shall deliver to the Department a revised Summary Loan Schedule; provided, however, that the Conduit Administrator shall deliver to the Department a revised Summary Loan Schedule relating to any Loan, with respect to which a Delinquency Put Event shall have occurred, on the second Business Day of the Specified Week that includes the date 30 days after the date upon which the related Put Notice was delivered.

  • If a Delinquency Put Event occurs with respect to any Financed Student Loan, a Department Put Event with respect to such Financed Student Loan shall automatically be deemed to have occurred.

  • Notwithstanding anything contained herein to the contrary, the Department shall not be required to purchase Loans hereunder for an aggregate Put Price (not including the Put Price related to Loans purchased hereunder with respect to which a Delinquency Put Event has occurred) in excess of (i) $500,000,000 per week during any calendar weekCalendar Week prior to July 20, 2009 or (ii) $10,000,000,000 on any Put Date on or after July 20, 2009 (the “Daily Put Limit”).

Related to Delinquency Put Event

  • Delinquency Event A Delinquency Event shall have occurred with respect to any Distribution Date if the Rolling Three Month Delinquency Rate as of the last day of the immediately preceding calendar month equals or exceeds 53.00% of the Senior Enhancement Percentage for such Distribution Date.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Sixty-Day Delinquency Rate As to any Payment Date, the percentage equivalent of a fraction, the numerator of which is the aggregate Principal Balance of (a) Mortgage Loans that are 60 or more days delinquent, (b) Mortgage Loans that are 60 or more days delinquent and in bankruptcy or foreclosure and (c) all REO Property, in each case, as of the last day of the preceding month, and the denominator of which is the Pool Balance as of the last day of the related Due Period.

  • Delinquency Test means, for any Payment Date, a test that will be satisfied if:

  • Delinquency Trigger means, for any Payment Date and the related Collection Period, 24.00%.

  • Delinquency Percentage means, for any Payment Date and the related Collection Period, an amount equal to the ratio (expressed as a percentage) of (i) the aggregate Principal Balance of all 60-Day Delinquent Receivables as of the last day of such Collection Period to (ii) the Pool Balance as of the last day of such Collection Period.

  • Delinquency Amount means, as of any Distribution Date, the Principal Balance of all Contracts that were delinquent 60 days or more as of the end of the related Due Period (including Contracts in respect of which the related Motorcycles have been repossessed and are still in inventory).

  • Delinquency proceeding means a proceeding instituted against an insurer for the purpose of liquidating, rehabilitating, reorganizing or conserving the insurer, and a summary proceeding under section 507C.9 or 507C.10. “Formal delinquency proceeding” means any liquidation or rehabilitation proceeding.

  • 60-Day Delinquent Receivables means, as of any date of determination, all Receivables (other than Repurchased Receivables and Defaulted Receivables) that are sixty (60) or more days delinquent as of such date (or, if such date is not the last day of a Collection Period, as of the last day of the Collection Period immediately preceding such date), as determined in accordance with the Servicer’s Customary Servicing Practices.

  • Delinquency Rate With respect to any calendar month, the fraction, expressed as a percentage, the numerator of which is the aggregate outstanding principal balance of all Mortgage Loans 60 days Delinquent or more (including all foreclosures, bankruptcies and REO Properties) as of the close of business on the last day of such month, and the denominator of which is the Pool Balance as of the close of business on the last day of such month.

  • 60+ Day Delinquent Mortgage Loan (i) Each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the prior Due Period, two months or more past due (without giving effect to any grace period), including, without limitation, such Mortgage Loans that are subject to bankruptcy proceedings, (ii) each Mortgage Loan in foreclosure and (iii) all REO Property.

  • Sixty-Plus Delinquency Percentage With respect to any Distribution Date and the Mortgage Loans, the arithmetic average, for each of the three Distribution Dates ending with such Distribution Date, of the fraction, expressed as a percentage, equal to (x) the aggregate Stated Principal Balance of the Mortgage Loans that are 60 or more days delinquent in payment of principal and interest for that Distribution Date, including Mortgage Loans in foreclosure and REO, over (y) the aggregate Stated Principal Balance of all of the Mortgage Loans immediately preceding that Distribution Date.

  • Rolling Three Month Delinquency Rate With respect to any Distribution Date, the fraction, expressed as a percentage, equal to the average of the Delinquency Rates for each of the three (or one and two, in the case of the first and second Distribution Dates, respectively) immediately preceding calendar months.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • 60+ Day Delinquent Loan Each Mortgage Loan (including each Mortgage Loan in foreclosure and each Mortgage Loan for which the Mortgagor has filed for bankruptcy after the Closing Date) with respect to which any portion of a Monthly Payment is, as of the last day of the prior Collection Period, two months or more past due and each Mortgage Loan relating to an REO Property.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Day Delinquent Mortgage Loan Each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the prior Due Period, three months or more past due (without giving effect to any grace period), including each Mortgage Loan in foreclosure, all REO Property and each Mortgage Loan for which the Mortgagor has filed for bankruptcy.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Tax Event Repayment Date means the date set out in a notice from the Issuer to the Bondholders pursuant to Clause 10.4 (Early redemption option due to a tax event).

  • Early Amortization Event means the occurrence of any of the following:

  • Rapid Amortization Event has the meaning given to it in Section 5.16.