Delinquency Trigger definition

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

Delinquency Trigger means, that (i) as of the end of any of the first through twelfth Collection Periods, the Delinquency Rate exceeds 1.10%, (ii) as of the end of any of the thirteenth through twenty-fourth Collection Periods, the Delinquency Rate exceeds 1.80%, (iii) as of the end of any of the twenty-fifth through thirty-sixth Collection Periods, the Delinquency Rate exceeds 2.80% or (iv) as of the end of any subsequent Collection Period, the Delinquency Rate exceeds 4.90%.

Delinquency Trigger means, with respect to a Collection Period, the aggregate Principal Balance of 60-Day Delinquent Receivables as a percentage of the aggregate Principal Balance of Receivables as of the end of such Collection Period exceeds the Delinquency Trigger Percentage for such Collection Period. “Delinquency Trigger Percentage” equals 4.65%.

Examples of Delinquency Trigger in a sentence

• Pursuant to the terms of the Indenture, in the event a Delinquency Trigger Breach occurs and Certified Note Owners vote to initiate an asset representations review by the Reviewer to determine instances of non-compliance with respect to asset related representations and warranties specified in the Asset Representations Review Agreement, such a review will be conducted as described in Section 3.4 of the Asset Representations Review Agreement.

• The vote to direct such an Asset Representations Review must be completed within one hundred and fifty (150) days following the filing with the Commission of the Form 10-D disclosing the Delinquency Trigger Breach.

• If the voting process is not completed within such 150-day period and a Delinquency Trigger Breach has not occurred in any subsequent reporting period, then the Certified Note Owners may not initiate or, if already initiated, complete a vote to direct an Asset Representations Review with respect to that Delinquency Trigger Breach.

• However, if a Delinquency Trigger Breach occurs in a subsequent period, the 90-day petition period described in the first sentence of this clause (ii) and the 150-day period for the completion of a vote will restart from the filing of the Form 10-D disclosing the most recent breach if no petition to vote has been initiated, no vote has been scheduled and no Asset Representations Review is being conducted.

More Definitions of Delinquency Trigger

Delinquency Trigger means, for any Payment Date and the related preceding calendar month, 4.80%.

Delinquency Trigger means, for any Collection Period, that the aggregate Principal Balance of Receivables that are 60 days or more Delinquent (but are not Defaulted Receivables) as a percentage of the Pool Balance as of the last day of the Collection Period exceeds (a) 2.00% for the first 12 Collection Periods following the Cutoff Date, (b) 3.50% for the next 12 Collection Periods, (c) 4.00% for the next 12 Collection Periods and (d) 5.75% for the remaining Collection Periods that the Notes are Outstanding.

Delinquency Trigger means, for any Collection Period, that the aggregate Securitization Value of Leases in the 2018-B Reference Pool that are more than 60 days Delinquent as a percentage of the aggregate Securitization Value of the Leases in the 2018-B Reference Pool as of the last day of the Collection Period exceeds 0.30% for the first 12 Collection Periods and 0.40% for the remaining Collection Periods that the Notes are Outstanding.

Delinquency Trigger means, for any Due Period, that the aggregate Principal Balance of Contracts that are 60 days or more Delinquent (assuming 30-day months) as a percentage of the Pool Balance as of the last day of the Due Period exceeds 6.00%.

Delinquency Trigger means 4.70%.

Delinquency Trigger means, with respect to a Collection Period, when (1) the ratio, expressed as a percentage, of (x) the Payoff Amount of all Receivables that are 60 or more days Delinquent as of the last day of such Collection Period (excluding Purchased Receivables and Liquidated Receivables) and (y) the Pool Balance as of the last day of such Collection Period, exceeds (2) the Delinquency Trigger Percentage. “Delinquency Trigger Percentage” equals 14.60%.

Delinquency Trigger means, for any Collection Period, that the aggregate Principal Balance of Receivables that are 61+ days delinquent as a percentage of the Pool Balance as of the last day of the Collection Period exceeds (a) 10% for the first 12 Collection Periods following the Cutoff Date and (b) 16% for the remaining Collection Periods that the Notes are Outstanding. The period of delinquency for a Receivable is the number of days that a payment of more than an inconsequential amount is past due. Payments of $50 or more are generally considered consequential.