Delinquency Trigger Event definition
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%.
Delinquency Trigger Event. If, with respect to an Distribution Date, the quotient (expressed as a percentage) of (x) the rolling three month average of the Stated Principal Balances of 60+ Day Delinquent Mortgage Loans, divided by (y) the aggregate Stated Principal Balance of the Mortgage Loans, equals or exceeds 40% of the prior period's Senior Enhancement Percentage.
Delinquency Trigger Event. A Delinquency Trigger Event has occurred with respect to a Distribution Date if the Delinquency Percentage exceeds 42.00% of the Credit Enhancement Percentage.
Examples of Delinquency Trigger Event in a sentence
Noteholders or Note Owners shall be permitted to vote for 150 days after the filing of the Form 10-D indicating that the Delinquency Trigger Event has occurred.
More Definitions of Delinquency Trigger Event
Delinquency Trigger Event. With respect to any Distribution Date, a Delinquency Trigger Event exists if the quotient (expressed as a percentage) of (x) the rolling three month average of the aggregate Stated Principal Balance of 60+ Day Delinquent Mortgage Loans (including Mortgage Loans in foreclosure and Mortgage Loans related to REO Property) and (y) (1) until the aggregate Class Certificate Balance of the Class A Certificates have been reduced to zero, the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date equals or exceeds 38.15% of the prior period's Senior Enhancement Percentage and (2) after the aggregate Class Certificate Balance of the Class A Certificates have been reduced to zero, the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date equals or exceeds 46.90% of the prior period's Class M Enhancement Percentage.
Delinquency Trigger Event. With respect to any Distribution Date, a Delinquency Trigger Event exists if the quotient (expressed as a percentage) of (x) the rolling three month average of the Stated Principal Balances of 60+ Day Delinquent Mortgage Loans for such Distribution Date, divided by (y) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date equals or exceeds 40.00% of the prior period's Senior Enhancement Percentage.
Delinquency Trigger Event. With respect to a Distribution Date on or after the Stepdown Date, the Rolling Sixty-Day Delinquency Rate for the outstanding Mortgage Loans equals or exceeds the product of (i) 40.00% and (ii) the Senior Enhancement Percentage for such Distribution Date.
Delinquency Trigger Event means, as determined as of the last day of each Monthly Period, the occurrence of the Sixty Day Delinquency Rate Percentage being equal to or greater than the Delinquency Trigger Percentage.
Delinquency Trigger Event. With respect to any Distribution Date on or after the Stepdown Date, if the Rolling Sixty Day Delinquency Rate as of the last day of the immediately preceding month equals or exceeds 40% of the Senior Enhancement Percentage for that Distribution Date.
Delinquency Trigger Event. A Delinquency Trigger Event is in effect with respect to a Distribution Date on or after the Stepdown Date if the Rolling Sixty Day Delinquency Rate for the outstanding Loans equals or exceeds the product of (i) 32.94% and the Group I Senior Enhancement Percentage for any Distribution Date prior to the Distribution Date in January 2012 and (ii) 40.00% and the Group I Senior Enhancement Percentage for any Distribution Date on or after the Distribution Date in January 2012.
Delinquency Trigger Event. With respect to a Distribution Date after the Stepdown Date, the event that is in effect if the quotient (expressed as a percentage) of (x) the three month rolling daily average of the Stated Principal Balance of 60+ Day Delinquent Loans as of the last day of the related Due Period, over (y) the Pool Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period exceeds 37.00% of the prior period's Senior Enhancement Percentage.