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 the event of the appointment of the Master Servicer or other successor as successor Servicer in accordance with Section 6.02 hereof, the Servicing Trigger Event shall not apply.

  • The Servicer shall immediately notify the Master Servicer in writing of the occurrence of any Servicing Default or any Servicing Trigger Event.

  • In addition, upon the occurrence of any Servicing Trigger Event, the Master Servicer shall terminate the rights and responsibilities of the Servicer hereunder and shall appoint a successor Servicer in accordance with the provisions of this Section 6.02; provided, however, that the foregoing provision shall not apply in the event that the Servicer is rated “SQ2-” or better by Moody’s on any date.

  • The RMBS Servicer shall immediately notify the RMBS Master Servicer in writing of the occurrence of any Servicing Default or any RMBS Servicing Trigger Event.

  • 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.


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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