Special Servicer Trigger definition

Special Servicer Trigger. With respect to any Distribution Date, a Special Servicer Trigger shall have occurred and be continuing if at any time, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 61 days or more Delinquent (including for this purpose any such Mortgage Loans in bankruptcy or foreclosure and Mortgage Loans with respect to which the related Mortgaged Property is REO Property), and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period exceeds (y) the percentage set forth in Exhibit N for such Distribution Date.
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Special Servicer Trigger. With respect to any Distribution Date, a Special Servicer Trigger shall have occurred and be continuing if at any time, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more Delinquent and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period exceeds (y) the percentage set forth in Exhibit N for such Distribution Date.
Sample 1Sample 2Sample 3
Special Servicer Trigger. With respect to any Distribution Date, a Special Servicer Trigger shall have occurred and be continuing if at any time, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more Delinquent and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period exceeds (y) the percentage set forth in Exhibit N for such Distribution Date. Sponsor: EMC, in its capacity as Seller.
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Examples of Special Servicer Trigger in a sentence

  • On any Distribution Date on which the servicer rating for the Master Servicer is downgraded by a full rating category from its rating as of the Closing Date by any of S&P, Xxxxx'x and Fitch and a Special Servicer Trigger is in effect for such Distribution Date, the Majority Class CE Certificateholder shall have the option to direct the Master Servicer to appoint a special servicer to service all of the Mortgage Loans that are 90 days or more Delinquent as of such Distribution Date ("Delinquent Loans").


More Definitions of Special Servicer Trigger

Special Servicer Trigger. With respect to any Distribution Date after which an investor purchases a Certificate and for which such investor agrees with the Depositor to provide for such trigger, a Special Servicer Trigger shall have occurred and be continuing if at any time during which the related investor holds such Certificates, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more Delinquent and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period exceeds (y) the percentage set forth in Exhibit N for such Distribution Date. The Depositor shall cause Exhibit N to be provided to the Master Servicer and the Trustee for any Special Servicer Trigger that is calculated and agreed upon for any Distribution Date on or before the Determination Date related to any such Distribution Date.
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Special Servicer Trigger. With respect to any Distribution Date after which an investor purchases a Certificate and for which such investor agrees with the Depositor to provide for such trigger, a Special Servicer Trigger shall have occurred with respect to such Loan Group and be continuing if at any time during which the related investor holds such Certificates, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the related Mortgage Loans that are 60 days or more Delinquent and the denominator of which is the aggregate Stated Principal Balance of all of the related Mortgage Loans as of the last day of the related Due Period exceeds (y) the percentage set forth in Exhibit N for such Distribution Date. Sponsor: EMC, in its capacity as Seller.
Sample 1
Special Servicer Trigger. With respect to any Distribution Date after which an investor purchases a Certificate and for which such investor agrees with the Depositor to provide for such trigger, a Special Servicer Trigger shall have occurred and be continuing if at any time during which the related investor holds such Certificates, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more Delinquent and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period exceeds (y) the percentage set forth in Exhibit N for such Distribution Date. The Depositor shall cause Exhibit N to be provided to the Master Servicer and the Trustee for any Special Servicer Trigger that is calculated and agreed upon for any Distribution Date on or before the Determination Date related to any such Distribution Date. Sponsor: EMC, in its capacity as Seller.
Sample 1
Special Servicer Trigger. With respect to any Distribution Date after which an investor purchases a Certificate and for which such investor agrees with the Depositor to provide for such trigger, a Special Servicer Trigger shall have occurred with respect to such Loan Group and be continuing if at any time during which the related investor holds such Certificates, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the related Mortgage Loans that are 60 days or more Delinquent and the denominator of which is the aggregate Stated Principal Balance of all of the related Mortgage Loans as of the last day of the related Due Period exceeds (y) the percentage set forth in Exhibit N for such Distribution Date. The Depositor shall cause Exhibit N to be provided to the Master Servicer and the Trustee for any Special Servicer Trigger that is calculated and agreed upon for any Distribution Date on or before the Determination Date related to any such Distribution Date. Sponsor: EMC, in its capacity as Seller.
Sample 1
Special Servicer Trigger. With respect to any Distribution Date, a Special Servicer Trigger shall have occurred and be continuing if at any time,
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Related to Special Servicer Trigger

  • 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.

  • Servicer Fee has the meaning specified in Section 2.05(a).

  • 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.