Group II Sequential Trigger Event definition

Group II Sequential Trigger Event. With respect to any Distribution Date, a trigger event is in effect if (i) on any Distribution Date before the 37th Distribution Date, the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related prior calendar month divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 3.00%, or (ii) on or after the 37th Distribution Date, the applicable test set forth in clause (ii) in the definition of Trigger Event has been satisfied.
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Group II Sequential Trigger Event. With respect to any Distribution Date (a) before the 37th Distribution Date, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut off Date exceeds 0.60%, or (b) on or after the 37th Distribution Date, if a Trigger Event is in effect.
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Group II Sequential Trigger Event. If, (i) on any Distribution Date before the 37th Distribution Date, (a) the rolling three month average of the aggregate unpaid principal balances of 60+ Day Delinquent Mortgage Loans equals or exceeds 34.00% of the Senior Enhancement Percentage as of the last day of the prior Due Period or (b) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Principal Prepayment Period divided by the Cut-off Date Pool Principal Balance exceeds 2.70%, or (ii) on any Distribution Date on or after the 37th Distribution Date, a Trigger Event is in effect.
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More Definitions of Group II Sequential Trigger Event

Group II Sequential Trigger Event. A Group II Sequential Trigger Event has occurred with respect to any Distribution Date if either a Group II Sequential Cumulative Loss Trigger Event or a Group II Sequential Delinquency Trigger Event has occurred with respect to such Distribution Date or if the Certificate Principal Balance of the Mezzanine Certificate and the Class B Certificates has been reduced to zero.
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Related to Group II Sequential Trigger Event

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • 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.

  • Sequential Pay Event means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made by the Note B Holder in accordance with Section 11) and shall not be deemed to exist to the extent the Note B Holder is exercising its cure rights under Section 11 or the default that led to the occurrence of such Sequential Pay Event has otherwise been cured or waived.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Derivative Provider Trigger Event means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.