Servicer Evaluation Trigger Date definition
Servicer Evaluation Trigger Date. With respect to Fairbanks and the Fairbanks Serviced Loans, any date on which subsection (b) of the related Fairbanks Termination Test occurs.
Servicer Evaluation Trigger Date. Any date on which subsection (b) of the Servicer Termination Test occurs.
Servicer Evaluation Trigger Date. With respect to the Servicer, any date on which the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: Distribution Date Percentage May 2006 to April 2007 4.00% May 2007 to April 2008 6.50% May 2008 to April 2009 8.50% May 2009 and thereafter 9.50%
Examples of Servicer Evaluation Trigger Date in a sentence
Within 60 days after a Servicer Evaluation Trigger Date, the Trustee shall select and engage a nationally recognized independent auditor, approved in writing by the Rating Agencies, unless such Rating Agencies specifically waive such approval right (provided, however, that if the Trustee does not receive the written approval of any Rating Agency within 20 days of selecting an independent auditor, such Rating Agency will be deemed to have approved of such auditor), to evaluate the performance of Fairbanks.