Rapid Amortization Trigger definition

Rapid Amortization 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 3%; provided, however, that a Rapid Amortization Trigger shall not occur if such percentage is reduced to less than 3% within 5 Business Days of such Determination Date as a result of the exercise of a Servicer Call.
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Rapid Amortization Trigger. With respect to any Business Day, a Rapid Amortization Trigger shall mean the existence of one or more of the following conditions as of such Business Day:
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Rapid Amortization Trigger. As of any Determination Date, the existence of one or more of the following conditions as of such Determination Date:
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Examples of Rapid Amortization 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.

  • Upon the occurrence of (i) an Event of Default or Default under this Agreement or the Indenture or (ii) a Rapid Amortization Trigger, the Initial Noteholder (if still a Noteholder) may, in its sole discretion, terminate the Revolving Period.

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

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

  • Upon the occurrence of (i) an Event of Default or Default or (ii) a Rapid Amortization Trigger or (iii) the Unfunded Transfer Obligation Percentage equals 4% or less, the Initial Noteholder may, in any such case, in its sole discretion, terminate the Revolving Period.

  • Upon the occurrence of (i) an Event of Default or Default or (ii) a Rapid Amortization Trigger, the Initial Noteholder (if still a Noteholder) may, in its sole discretion, terminate the Revolving Period.

  • Upon the occurrence of a Rapid Amortization Trigger Event, the Seller shall only receive payments in respect of the purchase price for any Additional Balance from the Reserve Account, funded by the Holder of the Class L Certificate.

  • With the written consent of the Majority Noteholders in their sole discretion, if as of such Payment Date, no Rapid Amortization Trigger or Default under this Agreement or the Indenture shall be in effect, the Overcollateralization Shortfall shall be reduced (but in no event to an amount below zero) by all or any portion of the aggregate Hedge Value as of such Payment Date as the Majority Noteholders may, in their sole discretion, designate in writing.

  • When the condition that originally gave rise to a Performance Trigger or Rapid Amortization Trigger has not continued for 20 consecutive days or has otherwise been waived with the prior written consent of the Majority Noteholders.


More Definitions of Rapid Amortization Trigger

Rapid Amortization Trigger. With respect to any Determination Date, a Rapid Amortization Trigger shall mean the existence of one or more of the following conditions as of such Determination Date:
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