Servicing Trigger Event definition

Servicing Trigger Event. With respect to each Determination Date, a Servicing Trigger Event exists if total Cumulative Loss Percentage exceeds: (i) 8.50% on any Determination Date up to, and including, the fifth anniversary of the Cut-off Date; or (ii) 10.82% on any Determination Date from the fifth to, and including, the tenth anniversary of the Cut-off Date. Following the tenth anniversary of the Cut-off Date, no Servicing Trigger Event shall exist.
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Servicing Trigger Event. With respect to each determination date, a Servicing Trigger Event exists if Total Calculated Cumulative Losses exceed: (i) 8.50% on any Determination Date up to, and including, the fifth anniversary of the Cut Off Date; or (ii) 10.82% on any Determination Date from the fifth to, and including, the tenth anniversary of the Cut Off Date. Following the tenth anniversary of the Cut Off Date, no Servicing Trigger Event shall exist. SFM: Saxon Funding Management, Inc., a Delaware corporation, and its successor and assigns.
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Servicing Trigger Event. As of any Payment Date, the occurrence of any of the following scenarios:
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Examples of Servicing Trigger Event in a sentence

  • In addition, upon the occurrence of any RMBS Servicing Trigger Event, the RMBS Master Servicer shall terminate the rights and responsibilities of the RMBS Servicer under the RMBS Servicing Agreement; provided, however, that in the event that the RMBS Servicer is rated "SQ2" or better by Moody's on any date, the RMBS Servicing Trigger Event shall no longer apply to the RMBS Servicer.

  • In addition, upon the occurrence of any Servicing Trigger Event, the Master Servicer shall terminate the rights and responsibilities of the Servicer under the Servicing Agreement; provided, however, that in the event that the Servicer is rated “SQ2-” or better by Mxxxx’x on any date, the Servicing Trigger Event shall no longer apply to the Servicer.

  • In addition, upon the occurrence of any RMBS Servicing Trigger Event, the RMBS Master Servicer shall terminate the rights and responsibilities of the RMBS Servicer under the RMBS Servicing Agreement; provided, however, that in the event that the RMBS Servicer is rated “SQ2-” or better by Moody’s on any date, the RMBS Servicing Trigger Event shall no longer apply to the RMBS Servicer.

  • In addition, upon the occurrence of any Servicing Trigger Event, the RMBS Master Servicer shall terminate the rights and responsibilities of the RMBS Servicer under the RMBS Servicing Agreement; provided, however, that in the event that the RMBS Servicer is rated “SQ2-” or better by Moody’s on any date, the Servicing Trigger Event shall no longer apply to the RMBS Servicer.

  • The Parties agree that any backup servicer shall be a service provider of Coastal upon the occurrence of a Servicing Trigger Event and that it shall require that the backup servicer at all times comply with applicable data security and privacy laws.


More Definitions of Servicing Trigger Event

Servicing Trigger Event. A Servicing Trigger Event is in effect with respect to American Home as a Servicer and with respect to any Distribution Date if either:
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Servicing Trigger Event means the occurrence and continuance of any one of the following events:
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Servicing Trigger Event shall have the meaning assigned to that term in the Security Agreement.
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Servicing Trigger Event. With respect to each determination date, a Servicing Trigger Event exists if Total Calculated Cumulative Losses exceed: (i) 8.50% on any Determination Date up to, and including, the fifth anniversary of the Cut Off Date; or (ii) 10.82% on any Determination Date from the fifth to, and including, the tenth anniversary of the Cut Off Date. Following the tenth anniversary of the Cut Off Date, no Servicing Trigger Event shall exist. SMI: Saxon Mortgage, Inc., a Virginia corporation, and its successor and assigns.
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Servicing Trigger Event. A Servicing Trigger Event is in effect with respect to any Distribution Date if either:
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Servicing Trigger Event. With respect to each Determination Date, a Servicing Trigger Event exists if (i) the debt rating assigned by S&P to Saxon Capital Inc. falls below “BBB-“ and (ii) Total Calculated Cumulative Losses exceed: (i) 8.50% on any Determination Date up to, and including, the fifth anniversary of the Cut Off Date; or (ii) 10.82% on any Determination Date from the fifth to, and including, the tenth anniversary of the Cut Off Date. Following the tenth anniversary of the Cut Off Date, no Servicing Trigger Event shall exist. SFM: Saxon Funding Management, Inc., a Delaware corporation, and its successor and assigns.
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Servicing Trigger Event. As of any Payment Date, the occurrence of any of the following scenarios: (a) the Rolling Three Month Delinquency Percentage is greater than 3.25% for the then-current Payment Date; or
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