Performance Trigger definition

Performance Trigger means, at any time, in each case determined as at the last day of the immediately preceding calendar month, any one or more of the following events shall have occurred:

Performance Trigger means, with respect to any Illiquid Loan and any date of determination, a performance test which will be triggered if:

Performance Trigger. Shall exist, as of any Determination Date, if the aggregate Principal Balance of all Loans that are not Scratch & Dent Loans and that are Delinquent greater than 59 days (including Defaulted Loans and Foreclosed Loans) as of such Determination Date divided by the Pool Principal Balance as of such Determination Date is greater than 2%, provided, however, that a Performance Trigger shall not occur if such percentage is reduced to less than 2% within 5 Business Days of such Determination Date as the result of the exercise of a Servicer Call. A Performance Trigger shall continue to exist until Deemed Cured.

Examples of Performance Trigger in a sentence

• The Indenture Trustee shall have no duty to monitor the occurrence of a Performance Trigger, Rapid Amortization Trigger or any events resulting in withdrawals from the Transfer Obligation Account.

• With respect to any Borrowing Base Deficiency resulting solely from the reduction of the Maximum Advance Rate following the occurrence of a Tier 1 Collateral Performance Trigger, the Borrower may, within thirty (30) days of the date on which the Maximum Advance Rate was reduced, pledge additional Eligible Receivables to the Collateral Agent and/or prepay the Loans in an aggregate amount up to the amount necessary to cure such Borrowing Base Deficiency.

• In addition to the specific provisions set forth in Sections B, C and D of this Exhibit J relating to the conditions under which a Performance Trigger may be modified, the Owner/Servicer and Subservicer agree to modify any of the above Performance Triggers from time to time in cases where there have been or will be material changes to the portfolio of Subject Loans constituting the reference class of the applicable Performance Trigger.

• The Performance Trigger is not cumulative and resets at the beginning of each Fiscal Year.

• Any such increase to the Maximum Committed Amount will be made at the sole and absolute discretion of the Lenders and the Administrative Agent subject to, among other things, payment by the Borrower of the Increase Payment and no Event of Default, no Borrowing Base Deficiency and no Tier 1 Collateral Performance Trigger or Tier 2 Collateral Performance Trigger existing under the Facility.

More Definitions of Performance Trigger

Performance Trigger means an event arising upon the occurrence of any Investment Pool Collateral Performance Trigger or any Aggregate Cumulative Delinquency Trigger.

Performance Trigger. With respect to any Business Day, a Performance Trigger shall mean the existence of one or more of the following conditions as of such Business Day:

Performance Trigger means, at any time, any one or more of the following events shall have occurred:

Performance Trigger. As of any Determination Date, the existence of one or more of the following conditions:

Performance Trigger means the breach of any of the collateral performance tests set forth on Appendix C hereto.

Performance Trigger means any of the First Performance Trigger, Second Performance Trigger and the Third Performance Trigger.

Performance Trigger. Shall exist if, as of any Determination Date, the aggregate Principal Balance of all Loans that are equal to or greater than 30 days Delinquent as of such Determination Date (including Defaulted Loans and Foreclosed Loans) divided by the Pool Principal Balance as of such Determination Date is greater than or equal to 10%, provided, however, that a Performance Trigger shall not occur if such percentage is reduced to less than 10% within one (1) Business Day of such Determination Date as the result of the exercise of a Servicer Call.