Servicer Trigger Event definition

Servicer Trigger Event. As defined in Section 7.02 hereof.
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Servicer Trigger Event has the meaning specified in the Insurance Agreement.
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Servicer Trigger Event. The occurrence of any of the following ---------------------- events:
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Examples of Servicer Trigger Event in a sentence

  • No 6.01(v) Servicer files a voluntary petition for bankruptcy No 6.01(vi) Petition under bankruptcy laws against Servicer is not stayed, withdrawn or dismissed within 60 days No 6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No 6.01(viii) Servicer Trigger Event as contained in the Insurance Agreement has occurred.

  • The Servicer and the Master Servicer shall promptly notify the Rating Agencies of the occurrence of a Servicer Trigger Event, such notice to be provided in any event within two Business Days of such occurrence.

  • The Servicer and the Trustee shall promptly notify the Rating Agencies of the occurrence of a Servicer Trigger Event, such notice to be provided in any event within two Business Days of such occurrence.

  • If a Servicer Trigger Event shall occur, then the Holders of Certificates evidencing not less than 51% of the Voting Rights evidenced by the Certificates (with the written consent of the NIM Insurer, except after a NIM Insurer Default), may, by notice in writing to the Servicer (with a copy to each Rating Agency), terminate all of the rights and obligations of the Servicer under this Agreement and in and to the Mortgage Loans and the proceeds thereof, other than its rights as a Certificateholder hereunder.

  • Servicer Trigger Event.................................................

  • The District, at its sole discretion, may either direct the User to take certain action, or take certain action itself, to address the injury.

  • No 6.01(v) Servicer files a voluntary petition for bankruptcy No 6.01(vi) Order of judgment in excess of $500,000 No 6.01(vii) Petition under bankruptcy laws against Servicer is not stayed, withdrawn or dismissed within 60 days No 6.01(viii) Assignment by Servicer to delegate its rights under Servicing Agreement No 6.01(ix) Servicer Trigger Event as contained in the Insurance Agreement has occurred.

  • Servicer Trigger Event.....................................................

  • Servicer Trigger Event......................................................

  • No 6.01(v) Servicer files a volunatry petition for bankruptcy No 6.01(vi) Petition under bankruptcy laws against Servicer is not stayed, withdrawn or dimissed within 60 days No 6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No 6.01(viii) Servicer Trigger Event as contained in the Insurance Agreement has occurred.


More Definitions of Servicer Trigger Event

Servicer Trigger Event shall have the meaning assigned to the term “Trigger Event” in the Purchase Price and Terms Letter, 2004-3 Servicing Rights Sale, dated as of June 2, 2004, between the Seller and the Servicer, a copy of which has been received and acknowledged by the Trustee.
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Servicer Trigger Event means one of the following events occurs on a given date:
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Servicer Trigger Event. With respect to any Distribution Date, a Servicer Trigger Event occurs if the Cumulative Loss Percentage exceeds the applicable percentage set forth below with respect to such Distribution Date:
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Servicer Trigger Event. As of any Distribution Date, the occurrence of any of the following scenarios:
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Related to Servicer Trigger Event

  • 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.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.

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

  • 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.

  • 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%.

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

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

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

  • Derivative Provider Trigger Event means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • 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;

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

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

  • Delinquency Trigger means, for any Payment Date and the related Collection Period, 24.00%.

  • 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.

  • Servicer Replacement Event means any one or more of the following that shall have occurred and be continuing:

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

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

  • 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%

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

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

  • Rating Agency Event means that any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Exchange Act that then publishes a rating for the Company (a “rating agency”) amends, clarifies or changes the criteria it uses to assign equity credit to securities such as the Notes, which amendment, clarification or change results in: