Delinquency Trigger definition

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

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Delinquency Trigger means, that (i) as of the end of any of the first through twelfth Collection Periods, the Delinquency Rate exceeds 1.10%, (ii) as of the end of any of the thirteenth through twenty-fourth Collection Periods, the Delinquency Rate exceeds 1.80%, (iii) as of the end of any of the twenty-fifth through thirty-sixth Collection Periods, the Delinquency Rate exceeds 2.80% or (iv) as of the end of any subsequent Collection Period, the Delinquency Rate exceeds 4.90%.

Delinquency Trigger means, with respect to a Collection Period, the aggregate Principal Balance of 60-Day Delinquent Receivables as a percentage of the aggregate Principal Balance of Receivables as of the end of such Collection Period exceeds the Delinquency Trigger Percentage for such Collection Period. “Delinquency Trigger Percentage” equals 4.65%.

Examples of Delinquency Trigger in a sentence

If a Delinquency Trigger occurs, as reported on Form 10-D, a Noteholder (if the Notes are represented by Definitive Notes) or a Note Owner (if the Notes are represented by Book-Entry Notes) may make a demand on the Indenture Trustee to cause a vote of the Noteholders or Note Owners, as applicable, about whether to direct the Asset Representations Reviewer to conduct a Review of the Review Leases under the Asset Representations Review Agreement.
Dispute resolution to resolve repurchase requests will be available regardless of whether Noteholders and Verified Note Owners voted to direct an Asset Representations Review or whether the Delinquency Trigger occurred.
If the Noteholders or Note Owners of at least 5% of the aggregate Note Balance of the Notes demand a vote within 90 days of the filing of the Form 10-D reporting the occurrence of the Delinquency Trigger, the Indenture Trustee will promptly request a vote of the Noteholders or Note Owners of record as of the most recent Record Date and, in the case of Note Owners, through the Clearing Agency process.

More Definitions of Delinquency Trigger

Delinquency Trigger means, for any Payment Date and the related preceding calendar month, 4.80%.

Delinquency Trigger means, with respect to a Collection Period, when (1) the ratio, expressed as a percentage, of (x) the Payoff Amount of all Receivables that are 60 or more days Delinquent as of the last day of such Collection Period (excluding Purchased Receivables and Liquidated Receivables) and (y) the Pool Balance as of the last day of such Collection Period, exceeds (2) the Delinquency Trigger Percentage. “Delinquency Trigger Percentage” equals 14.60%.

Delinquency Trigger means, for any Collection Period, that the aggregate Securitization Value of Leases in the 2018-B Reference Pool that are more than 60 days Delinquent as a percentage of the aggregate Securitization Value of the Leases in the 2018-B Reference Pool as of the last day of the Collection Period exceeds 0.30% for the first 12 Collection Periods and 0.40% for the remaining Collection Periods that the Notes are Outstanding.

Delinquency Trigger means, for any Collection Period that the Notes are Outstanding, that the aggregate Principal Balance of Receivables that are more than 60 days Delinquent as a percentage of the Pool Balance as of the last day of the Collection Period exceeds (a) 0.80% for the first 12 Collection Periods following the Cutoff Date, (b) 1.30% for the next 12 Collection Periods, (c) 2.40% for the next 12 Collection Periods and (d) 4.75% for the remaining Collection Periods.

Delinquency Trigger means, for any Due Period, that the aggregate Principal Balance of Contracts that are 60 days or more Delinquent (assuming 30-day months) as a percentage of the Pool Balance as of the last day of the Due Period exceeds 6.00%.

Delinquency Trigger means 4.70%.

Delinquency Trigger means that, as of the end of any Collection Period, the Delinquency Rate exceeds 40%.

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