Fairbanks Termination Test definition

Fairbanks Termination Test. With respect to the Fairbanks Serviced Loans and any Distribution Date, Fairbanks will fail the Fairbanks Termination Test if (a) Fairbanks fails the Fairbanks Performance Evaluation as set forth in Section 3.23 herein and (b) the Realized Loss Percentage for the Fairbanks Serviced Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Percentage August 2002 – July 2004 1.50% August 2004 – July 2005 3.00% August 2005 – July 2006 5.00% August 2006 and thereafter 7.00% Fair Credit Reporting Act: 15 U.S.C. §§1681 et seq.
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Fairbanks Termination Test. With respect to the Fairbanks Serviced Loans and any Distribution Date, Fairbanks will fail the Fairbanks Termination Test if (a) Fairbanks fails the Fairbanks Performance Evaluation as set forth in Section 3.23 herein and (b) the Realized Loss Percentage for the Fairbanks Serviced Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Percentage ------------------------------ ---------- March 2002 - February 2004 2.00% March 2004 - February 2005 4.00% March 2005 - February 2006 6.00% March 2006 and thereafter 8.75%
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Examples of Fairbanks Termination Test in a sentence

  • If such a written request is made to the Trustee, Fairbanks will be deemed to have “failed” the Fairbanks Performance Evaluation and such failure will be deemed to be a failure of the Fairbanks Termination Test.

  • If such a written request is made to the Trustee, Fairbanks will be deemed to have "failed" the Fairbanks Performance Evaluation and such failure will be deemed to be a failure of the Fairbanks Termination Test.

Related to Fairbanks Termination Test

  • Servicer Termination Test With respect to any Distribution Date, the Servicer will fail the Servicer Termination Test if the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Percentage January 2006 through December 2007 2.75% January 2008 through December 2008 3.25% January 2009 through December 2009 3.75% January 2010 and thereafter 4.50%

  • Network Termination Point (NTP) means the physical point at which a subscriber is provided with access to a public communications network; in the case of networks involving switching or routing, the NTP is identified by means of a specific network address, which may be linked to a subscriber number or name;

  • Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.

  • Agreement Termination Date is defined in Section 7.4.

  • Company Termination Event means any of the following:

  • Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.

  • Lease Termination Date means the last day of the Lease Term.

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Constructive Termination means:

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.

  • Early Termination Conditions means the types of conditions listed in Schedule A.

  • Stated Termination Date means, with respect to the Revolving Credit Facility, March 4, 2027 and, with respect to any Extended Revolving Credit Facility, the maturity date set forth in the Extension Agreement related thereto.

  • Accretion Termination Date As defined in the Series Supplement.

  • Complete Termination means a termination of the Fund's Rule 12b-1 plan for B-2 Shares involving the cessation of payments of the Distribution Fees, and the cessation of payments of distribution fees pursuant to every other Rule 12b-1 plan of the Fund for every existing or future B-Class-of-Shares (as hereinafter defined) and the Fund's discontinuance of the offering of every existing or future B-Class-of-Shares, which conditions shall be deemed satisfied when they are first complied with hereafter and so long thereafter as they are complied with prior to the earlier of (i) the date upon which all of the B-2 Shares which are Distributor Shares pursuant to Schedule I hereto shall have been redeemed or converted or (ii) May 31, 2005. For purposes of this Section 14.5, the term B-Class-of-Shares means each of the B-1 Class of Shares of the Fund, the B-2 Class of Shares of the Fund and each other class of shares of the Fund hereafter issued which would be treated as Shares under Schedule I hereto or which has substantially similar economic characteristics to the B-1 or B-2 Classes of Shares taking into account the total sales charge, CDSC or other similar charges borne directly or indirectly by the holder of the shares of such class. The parties agree that the existing C Class of Shares of the Fund does not have substantially similar economic characteristics to the B-1 or B-2 Classes of Shares taking into account the total sales charge, CDSC or other similar charges borne directly or indirectly by the holder of such shares. For purposes of clarity the parties to this agreement hereby state that they intend that a new installment load class of shares which may be authorized by amendments to Rule 6(c)-10 under the 1940 Act will be considered to be a B-Class-of-Shares if it has economic characteristics substantially similar to the economic characteristics of the existing B-1 or B-2 Classes of Shares taking into account the total sale charge, CDSC or other similar charges borne directly or indirectly by the holder of such shares and will not be considered to be a B-Class-of-Shares if it has economic characteristics substantially similar to the economic characteristics of the existing C Class of shares of the Fund taking into account the total sales charge, CDSC or other similar charges borne directly or indirectly by the holder of such shares.

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Termination After Change in Control means either of the following events occurring within twelve (12) months after a Change in Control:

  • Event Termination Date See Section 2(e) hereof.

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Loan Termination Date means the earliest to occur of the following: (i) as to TERM NOTE 2 and TERM NOTE 5, September 1, 2011; as to the REVOLVING NOTE, May 18, 2009 (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date BANK receives (a) notice in writing from BORROWER of BORROWER’s election to terminate this AGREEMENT and (b) indefeasible payment in full of the OBLIGATIONS.

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of: