Step Up Trigger definition

Step Up Trigger. For any Distribution Date, the Step Up Trigger will have occurred if any one of the Step Up Cumulative Loss Test, the Step Up Rolling Delinquency Test or the Step Up Rolling Loss Test is met.
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Step Up Trigger. For any Payment Date, the Step-Up Trigger will have occurred if any one of the Step-Up Cumulative Loss Test, the Step-Up Rolling Delinquency Test or the Step-Up Rolling Loss Test is met.
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Step Up Trigger. For any Distribution Date, the Step Up Trigger will have occurred if any one of the Step Up Cumulative Loss Test, the Step Up Rolling Delinquency Test or the Step Up Rolling Loss Test is met, or the Trustee is notified by the Certificate Insurer, upon which notification the Trustee may conclusively rely, that PMI Downgrade or Claims Denial Test is met.
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Examples of Step Up Trigger in a sentence

  • The Subsequent Rate of Interest will apply from and including the Interest Rate Step Up Trigger Date up to, and including, the maturity date of the Notes.

  • If, as of the Notification Date, (x) the Company fails, or is unable, to provide the Satisfaction Notification, (y) the Sustainability Performance Target has not been satisfied or (z) the External Verifier has not confirmed satisfaction of the Sustainability Performance Target, the Subsequent Rate of Interest will apply from and including the Interest Rate Step Up Trigger Date and thereafter up to, and including, the maturity date of the Notes.

  • If as of the Notification Date (x) the Company fails, or is unable, to provide the Satisfaction Notification, (y) the Sustainability Performance Target has not been satisfied or (z) the External Verifier has not confirmed satisfaction of the Sustainability Performance Target, the 2027 Notes Subsequent Rate of Interest will apply for each interest period from and including the interest period ending on the Interest Rate Step Up Trigger Date up to, and including, the Maturity Date.

  • The Issuer will notify Noteholders and the Trustee upon any change in the rate of interest under the Notes upon a Rate of Interest Step Up Trigger, a Rate of Interest Step Down Trigger or a Rating Agency Rate of Interest Step Up Trigger in accordance with Condition 17 (Notices) and the Trust Deed respectively and as required by any applicable rules of any stock exchange on which the Notes are then listed as soon as reasonably practicable after such change becomes effective.

  • The Initial Subsequent Rate of Interest will apply from and including the Initial Interest Rate Step Up Trigger Date up to, and including, the maturity date of the Notes, subject to Section 2.8(g).

  • If, as of the Notification Date, (x) the Company fails, or is unable, to provide the Satisfaction Notification, (y) the Sustainability Performance Target has not been satisfied or (z) the External Verifier has not confirmed satisfaction of the Sustainability Performance Target, the 2027 Notes Subsequent Rate of Interest will apply from and including the first day of the interest rate period ending on the Interest Rate Step Up Trigger Date up to, and including, the maturity date of the 2027 Notes.

  • If, prior to an Interest Payment Date, the Issuer fails so to procure (a "Rating Agency Rate of Interest Step Up Trigger"), then each Note shall bear interest on its outstanding principal amount at the rate per annum equal to the Rate of Interest plus the Step Up Rate.

  • The Second Subsequent Rate of Interest will apply from and including the Second Interest Rate Step Up Trigger Date up to, and including, the maturity date of the Notes.

  • If, as of the Notification Date, (x) the Company fails, or is unable, to provide the Satisfaction Notification, (y) the Sustainability Performance Target has not been satisfied or (z) the External Verifier has not confirmed satisfaction of the Sustainability Performance Target, the Subsequent Rate of Interest will apply from and including the first day of the interest rate period ending on the Interest Rate Step Up Trigger Date up to, and including, the maturity date of the Notes.


More Definitions of Step Up Trigger

Step Up Trigger. With respect to any Distribution Date and either Mortgage Loan Group, the Step Up Trigger will have occurred if any one of the Step Up Cumulative Loss Test, the Step Up Rolling Delinquency Test or the Step Up Rolling Loss Test is met with respect to such Mortgage Loan Group.
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Step Up Trigger. For any Distribution Date, the Step Up Trigger will have occurred for a Certificate Group if any one of the Step Up Cumulative Loss Test, the Step Up Rolling Delinquency Test or the Step Up Rolling Loss Test is met with respect to such Certificate Group.
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Related to Step Up Trigger

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

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

  • 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.

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