Fixed Rate Trigger Event definition

Fixed Rate Trigger Event. With respect to any Distribution Date on or after the Fixed Rate Stepdown Date, consists of either a Fixed Rate Delinquency Trigger Event with respect to that Distribution Date or a Fixed Rate Cumulative Loss Trigger Event with respect to that Distribution Date.
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Fixed Rate Trigger Event. With respect to any Distribution Date after the Fixed Rate Stepdown Date, (1) the product of (i) two times (ii) the quotient of (A) the Stated Principal Balance of all Fixed Rate Mortgage Loans 60 or more days delinquent (including Fixed Rate Mortgage Loans in foreclosure and REO Properties) and (B) the Stated Principal Balance of the Fixed Rate Mortgage Loans as of the preceding Master Servicer Advance Date (2) equals or exceeds the Required Percentage.
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Fixed Rate Trigger Event. With respect to any Distribution Date after the Fixed Rate Stepdown Date, (1) the product of (i) 2.0 times (ii) the quotient of (A) the Stated Principal Balance as of the last day of the related Due Period of all Fixed Rate Mortgage Loans 60 or more days delinquent (including all Fixed Rate Mortgage Loans in foreclosure and REO Properties without regard to delinquency) and (B) the Stated Principal Balance of the Fixed Rate Mortgage Loans as of the last day of the related Due Period (2) equals or exceeds the Required Percentage.
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Related to Fixed Rate Trigger Event

  • Reference Interest Rate Transition Event means the occurrence of one or more of the following events with respect to the then-current Reference Interest Rate:

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.