Servicer Evaluation Trigger Date definition

Servicer Evaluation Trigger Date. With respect to Fairbanks and the Fairbanks Serviced Loans, any date on which subsection (b) of the related Fairbanks Termination Test occurs.
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Servicer Evaluation Trigger Date. Any date on which subsection (b) of the Servicer Termination Test occurs.
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Servicer Evaluation Trigger Date. With respect to the Servicer, any date on which the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: Distribution Date Percentage May 2006 to April 2007 4.00% May 2007 to April 2008 6.50% May 2008 to April 2009 8.50% May 2009 and thereafter 9.50%
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Examples of Servicer Evaluation Trigger Date in a sentence

  • Within 60 days after a Servicer Evaluation Trigger Date, the Trustee shall select and engage a nationally recognized independent auditor, approved in writing by the Rating Agencies, unless such Rating Agencies specifically waive such approval right (provided, however, that if the Trustee does not receive the written approval of any Rating Agency within 20 days of selecting an independent auditor, such Rating Agency will be deemed to have approved of such auditor), to evaluate the performance of Fairbanks.

Related to Servicer Evaluation Trigger Date

  • Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.

  • 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 Termination Test With respect to any Distribution Date, the Servicer will fail the Servicer Termination Test if the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: January 2006 through December 2007 2.75% January 2008 through December 2008 3.25% January 2009 through December 2009 3.75% January 2010 and thereafter 4.50%

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

  • Master Servicer Reporting Date With respect to any Distribution Date, 3:00 p.m. New York time on the 18th day of the calendar month in which such Distribution Date occurs or, if such 18th day is not a Business Day, the Business Day immediately succeeding such 18th day.