Level One Trigger definition

Level One Trigger means the occurrence of any of the following (i) as of the last day of any calendar month, the arithmetic average of the[**], (ii) the Delinquency Ratio is greater than [**] or (iii) as of the last day of any calendar month, the arithmetic average of the Payment Rate [**]; provided, however, that following each occurrence of a Level One Trigger, such trigger shall remain in effect until [**].
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Level One Trigger means [*].
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Level One Trigger means the occurrence of any of the following (i) as of the last day of any calendar month, the arithmetic average of the Net Spread [*], (ii) the Delinquency Ratio is greater than [*] or (iii) as of the last day of any calendar month, the arithmetic average of the Payment Rate [*]; provided , however , that following each occurrence of a Level One Trigger, such trigger shall remain in effect until [*]
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Examples of Level One Trigger in a sentence

  • Following the occurrence and during the continuation of a Level One Trigger, the Agent shall have the right to require the Seller or the Servicer to, and upon such request the Seller or the Servicer, as applicable, shall, assemble all of the Contracts and make the same available to the Backup Servicer or other third-party custodian specified by, and at a place selected by, the Agent within 30 days.

Related to Level One Trigger

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • Auto-Call Trigger Level means the level set out below for the relevant Auto-Call Valuation Date (i.e. as shown in the same row as that date):

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.

  • Level 2 Support means, with the use of technical support specialists: (i) performing Defect isolation, Defect replication and interoperability testing; (ii) performing remote diagnostic services and on-site troubleshooting, if required; (iii) identifying the source of Defects; (iv) developing a reproducible test case for any Defect and documenting the details of such Defect for escalation to Level 3 Support; and (v) developing and implementing Workarounds where reasonably possible.