Level III Trigger Event definition
Level III Trigger Event means the occurrence of any of the following events on any Determination Date (other than during a Securitization Trigger Holiday or a Nonperforming Loan Sale Holiday, as applicable, with respect to such Determination Date and the related Collection Period with respect to clauses (i), (ii), (iii) and (iv)), with respect to the related Collection Period:
Level III Trigger Event means the occurrence of any of the following events on any Determination Date, with respect to the related Collection Period:
Level III Trigger Event. “Monthly Principal Amount”, “Reserve Account Required Amount”, “Senior Interest” or “Subordinate Interest”.
More Definitions of Level III Trigger Event
Level III Trigger Event. “Monthly Principal Amount” or “Reserve Account Required Amount”.
Level III Trigger Event means, on any date, that the Servicer Delinquency Ratio exceeds 5% on such date and a Level IV Trigger Event is not in effect on such date.
Level III Trigger Event means, as of any date of determination, (a) two or more Special Obligors (excluding (i) Fox Corporation and (ii) ▇▇▇ Communications, Inc. until the date on which the aggregate Unpaid Balance of all Pool Receivables owing by ▇▇▇ Communications, Inc. comprises 5.0% or more of the aggregate Unpaid Balance of all Pool Receivables as of such date) that are (or were, at any time since the Closing Date) Obligors with respect to outstanding Pool Receivables are subject to Level II Trigger Events within any trailing 12 month period and (b) the aggregate Unpaid Balance of all Receivables subject to a Level II Trigger Event shall equal or exceed the product of (i) 25.0% multiplied by (ii) the sum of the aggregate Unpaid Balance of all Eligible Receivables that are Pool Receivables plus the aggregate Unpaid Balance of all Receivables subject to a Level II Trigger Event that would be Eligible Receivables but for the occurrence of the Level II Trigger Event.
Level III Trigger Event. “Monthly Principal Amount” or “Reserve Account Required Amount”. reduce the principal or the rate of interest on the Loans or any fees or other amounts payable hereunder or under any other Basic Document; provided further, that no such agreement shall amend, modify or otherwise affect the rights or duties of the Account Bank or the Backup Servicer hereunder without the prior written consent of 172 DOCPROPERTY DOCXDOCID DMS=IManage Format=<<LIB>>/<<NUM>>v<<VER>> \* MERGEFORMAT LEGAL02/46534623v2 the Account Bank or the Backup Servicer, as the case may be (which consent shall not be unreasonably withheld or delayed); provided further, that the Fee Letter may only be amended, or rights or privileges thereunder waived, in writing executed by the parties thereto and with the written consent of the Required Lenders. No amendment, waiver or other modification which could have a material adverse effect on the rights or obligations of any Hedge Counterparty shall be effective against such Hedge Counterparty without the prior written agreement of such Hedge Counterparty. Notwithstanding the foregoing, if an Agent determines that it is necessary to establish an alternate rate of interest to the applicable Benchmark pursuant to Section 2.18, the Administrative Agent, the Lenders in the related Lender Group and the Borrower shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable, and the Administrative Agent may make Benchmark Replacement Conforming Changes in accordance with Section 2.18(c). Neither this Agreement nor any provision hereof may be waived except pursuant to an agreement or agreements in writing entered into by the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall, without the written consent of each Lender waive any condition set forth in Section 4.01; provided further, that no such agreement shall waive the rights or duties of the Account Bank, the Backup Servicer or the Hedge Counterparty hereunder without the prior written consent of the Account Bank, the Backup Servicer or the Hedge Counterparty, as the case may be. The Borrower shall promptly deliver to the Account Bank, the Backup Servicer and the Hedge Counterparty an executed copy of any amendment, waiver or modification under this Section. In executing any amendment to this Agreement, the Backup Servicer and the Account Bank shall be entitled...
Level III Trigger Event means, on any Distribution Date, that the average of the Receivables Pool Servicer Delinquency Ratios as of the last day of the preceding Collection Period, as of the last day of the second preceding Collection Period and as of the last day of the third preceding Collection Period for any Receivables Pool exceeds the amount set forth opposite the number of months since such Receivables Pool was securitized on Schedule 5 to the Indenture.
Level III Trigger Event means at any time of determination, the occurrence of any of the following: (i) the Collateral Value Ratio is greater than 70%; or (ii) if the Three-Month Average Debt Service Coverage is less than 1.35; or (iii) the Pro Forma Debt Service Coverage is less than 1.25.
Level III Trigger Event means, on any Distribution Date, that the ----------------------- Receivables Pool Servicer Delinquency Ratio for any Receivables Pool exceeds the amount set forth opposite the number of months since such Receivables Pool was securitized on Schedule 5 to the Indenture.