Servicer Trigger Event definition

Servicer Trigger Event. As defined in Section 7.02 hereof.
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Servicer Trigger Event. The occurrence of any of the following ---------------------- events:
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Servicer Trigger Event has the meaning specified in the Insurance Agreement.
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Examples of Servicer Trigger Event in a sentence

  • The Servicer and the Master Servicer shall promptly notify the Rating Agencies of the occurrence of a Servicer Trigger Event, such notice to be provided in any event within two Business Days of such occurrence.

  • The Servicer and the Trustee shall promptly notify the Rating Agencies of the occurrence of a Servicer Trigger Event, such notice to be provided in any event within two Business Days of such occurrence.

  • If a Servicer Trigger Event shall occur, then the Holders of Certificates evidencing not less than 51% of the Voting Rights evidenced by the Certificates (with the written consent of the NIM Insurer, except after a NIM Insurer Default), may, by notice in writing to the Servicer (with a copy to each Rating Agency), terminate all of the rights and obligations of the Servicer under this Agreement and in and to the Mortgage Loans and the proceeds thereof, other than its rights as a Certificateholder hereunder.

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  • Upon the occurrence of a Backup Servicer Trigger Event, Buyer shall have the right, but not the obligation, in its sole discretion to appoint a Backup Servicer.

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  • Borrower shall maintain, and shall cause each of its Subsidiaries to maintain in force all licenses, approvals and agreements necessary for the conduct of its business as conducted on the Closing Date.


More Definitions of Servicer Trigger Event

Servicer Trigger Event shall have the meaning assigned to the term “Trigger Event” in the Purchase Price and Terms Letter, 2004-3 Servicing Rights Sale, dated as of June 2, 2004, between the Seller and the Servicer, a copy of which has been received and acknowledged by the Trustee.
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Servicer Trigger Event. As of any Distribution Date, the occurrence of any of the following scenarios:
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Servicer Trigger Event. With respect to any Distribution Date, a Servicer Trigger Event occurs if the Cumulative Loss Percentage exceeds the applicable percentage set forth below with respect to such Distribution Date:
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Servicer Trigger Event means one of the following events occurs on a given date:
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Related to Servicer Trigger Event

  • 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.

  • 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%.

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

  • 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%

  • Master Servicer Event of Default One or more of the events described in Section 7.01.