Servicer Termination Loss Trigger definition

Servicer Termination Loss Trigger. As defined in the Insurance Agreement.
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Servicer Termination Loss Trigger. With respect to any Payment Date, if the average for the related Collection Period and the two preceding Collection Periods of the fraction, expressed as a percentage, the numerator of which is (a) the aggregate Principal Balance of 60+ Day Delinquent Mortgage Assets serviced by a Servicer and the denominator of which is (b) the aggregate Principal Balance of the Mortgage Assets serviced by a Servicer, in the case of both (a) and (b), as of the last day of each such Collection Period, exceeds the percentages set forth below of the Aggregate Principal Balance as of the Cut-Off Date: Percentage of Aggregate Principal Payment Date Occurring In Balance as of the Cut-Off Date ------------------------- ------------------------------ [________] through [______] [___]% [________] through [______] [___]% [________] through [______] [___]% [________] through [______] [___]% [________] and thereafter [___]%
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Servicer Termination Loss Trigger. With respect to any Payment Date, if Cumulative Actual Net Losses, determined as of such Payment Date, exceed the percentage set forth below of the Aggregate Principal Balance as of the Cut-Off Date: Percentage of Aggregate Principal Payment Date Occurring In Balance as of the Cut-Off Date ------------------------- ------------------------------ July 2008 through June 2009 5.50% July 2009 through June 2010 6.25% July 2010 through June 2011 7.25% July 2011 through June 2012 7.75% July 2012 and thereafter 8.75%
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Examples of Servicer Termination Loss Trigger in a sentence

  • Upon the occurrence of a Servicer Termination Delinquency Rate Trigger or Servicer Termination Loss Trigger as those terms are defined in the Insurance Agreement, the Insurer may, in its reasonable discretion, terminate all of the rights and obligations of the Servicer pursuant to the terms hereof.

  • Upon the occurrence of a Servicer Termination Delinquency Rate Trigger or Servicer Termination Loss Trigger as those terms are defined in the Insurance Agreement, the Credit Enhancer may, in its reasonable discretion, terminate all of the rights and obligations of the Servicer pursuant to the terms hereof.


More Definitions of Servicer Termination Loss Trigger

Servicer Termination Loss Trigger means, with respect to any Payment Date, upon the occurrence of the Rolling Twelve Month Loss Rate exceeding 1.25%.
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Servicer Termination Loss Trigger. With respect to any Payment Date, if the sum of the Cumulative Actual Net Economic Losses, determined as of such Payment Date and each of the three preceding Payment Dates, exceeds 1.50% of the Aggregate Economic Balance as of the first day of the 12 month period preceding such Payment Date.
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Servicer Termination Loss Trigger. With respect to any Payment Date, if the percentage equal to Cumulative Realized Losses divided by the sum of (i) the Aggregate Principal Balance of the Initial Mortgage Assets as of the Cut-off Date and (ii) the amount on deposit in the Pre-Funding Account as of the Closing Date exceeds the applicable percentages set forth below with respect to such Payment Date: Payment Date Occurring In Percentage ------------------------- ---------- August 2004 through July 2010 4.75% August 2010 through July 2011 5.50% August 2011 through July 2012 6.50% August 2012 through July 2013 7.00% August 2013 and thereafter 8.00%
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Related to Servicer Termination Loss Trigger

  • Servicer Termination Test With respect to any Distribution Date, the Servicer will fail the Servicer Termination Test if the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: January 2006 through December 2007 2.75% January 2008 through December 2008 3.25% January 2009 through December 2009 3.75% January 2010 and thereafter 4.50%

  • Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.

  • Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.

  • Master Servicer Event of Termination As defined in Section 7.01 hereof.

  • Servicer Termination Notice Defined in Section 6.15.

  • Backup Servicer Termination Notice has the meaning given to such term in Section 8.04.

  • Servicer Event of Termination One or more of the events described in Section 7.01.

  • Operating Advisor Termination Event As defined in Section 7.06(a) of this Agreement.

  • Loan Termination Date means the earliest to occur of the following: (a) November , 2009, (b) the date the Obligations are accelerated pursuant to this Agreement or the Revolving Note and (c) the date the Bank has received (i) notice in writing from the Borrower of the Borrower’s election to terminate this Agreement or the Revolving Note or (ii) indefeasible payment in full of the Obligations.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.

  • Event of Servicing Termination means an event specified in Section 8.1 of the Sale and Servicing Agreement.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Event Termination Date See Section 2(e) hereof.

  • Termination Fee Event has the meaning ascribed thereto in Section 8.2(2).

  • Fraud Loss Coverage Termination Date The point in time at which the Fraud Loss Coverage Amount is reduced to zero.

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • CREFC® Servicer Remittance to Certificate Administrator Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Interest Servicer Remittance to Certificate Administrator Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Cumulative Loss Trigger Event With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%

  • Availability Termination Date means, as to either Borrower, the earliest of (a) the Maturity Date for such Borrower, (b) the reduction of the Borrower Sublimit of such Borrower to zero pursuant to Section 2.8.3 or termination of the obligation to make Loans to, or issue Letters of Credit for the account of, such Borrower pursuant to Section 8.1 and (c) the date of termination in whole of the Aggregate Commitment and the Commitments pursuant to Section 2.8.3 or Section 8.1.

  • Non-Lead Securitization Determination Date means the “determination date” (or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing Agreement.

  • Liquidity Termination Date means the earlier to occur of the following:

  • Special Hazard Coverage Termination Date The point in time at which the Special Hazard Loss Coverage Amount is reduced to zero.