Delinquency Trigger Event definition

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%.

Delinquency Trigger Event. If, with respect to an Distribution Date, the quotient (expressed as a percentage) of (x) the rolling three month average of the Stated Principal Balances of 60+ Day Delinquent Mortgage Loans, divided by (y) the aggregate Stated Principal Balance of the Mortgage Loans, equals or exceeds 40% of the prior period's Senior Enhancement Percentage.

Delinquency Trigger Event. A Delinquency Trigger Event has occurred with respect to a Distribution Date if the Delinquency Percentage exceeds 42.00% of the Credit Enhancement Percentage.

Examples of Delinquency Trigger Event in a sentence

• Delinquency Trigger Event occurs when a measure of delinquency as a percentage of current balance exceeds a specified number (or series of numbers or a formula based calculation, often based on a specified credit enhancement measure).

• Therefore, he argues, “[t]here was no reason for [Plaintiff] to bargain away his counterclaims in the state court foreclosure case in order to obtain the modification to which Nationstar agreed in the October 2012 mediation.” (Id.).Plaintiff has been aware that Nationstar was the servicer of the Loan since November 2014, yet he requested a copy of the PSA over a month after Nationstar filed its Reply in Support of its Motion for Summary Judgment.

• An "GROUP 2 TRIGGER EVENT" with respect to any Distribution Date on or after the Group 2 Stepdown Date consists of either a Group 2 Delinquency Trigger Event with respect to that Distribution Date or a Group 2 Cumulative Loss Trigger Event with respect to that Distribution Date.

• A "Trigger Event," with respect to any Distribution Date consists of either a Delinquency Trigger Event with respect to that Distribution Date or a Cumulative Loss Trigger Event with respect to that Distribution Date.

More Definitions of Delinquency Trigger Event

Delinquency Trigger Event. With respect to any Distribution Date, a Delinquency Trigger Event exists if the quotient (expressed as a percentage) of (x) the rolling three month average of the aggregate Stated Principal Balance of 60+ Day Delinquent Mortgage Loans (including Mortgage Loans in foreclosure and Mortgage Loans related to REO Property) and (y) (1) until the aggregate Class Certificate Balance of the Class A Certificates have been reduced to zero, the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date equals or exceeds 38.15% of the prior period's Senior Enhancement Percentage and (2) after the aggregate Class Certificate Balance of the Class A Certificates have been reduced to zero, the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date equals or exceeds 46.90% of the prior period's Class M Enhancement Percentage.

Delinquency Trigger Event. With respect to any Distribution Date, a Delinquency Trigger Event exists if the quotient (expressed as a percentage) of (x) the rolling three month average of the Stated Principal Balances of 60+ Day Delinquent Mortgage Loans for such Distribution Date, divided by (y) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date equals or exceeds 40.00% of the prior period's Senior Enhancement Percentage.

Delinquency Trigger Event. With respect to a Distribution Date on or after the Stepdown Date, the Rolling Sixty-Day Delinquency Rate for the outstanding Mortgage Loans equals or exceeds the product of (i) 40.00% and (ii) the Senior Enhancement Percentage for such Distribution Date.

Delinquency Trigger Event. With respect to any Distribution Date on or after the Stepdown Date, if the Rolling Sixty Day Delinquency Rate as of the last day of the immediately preceding month equals or exceeds 40% of the Senior Enhancement Percentage for that Distribution Date.

Delinquency Trigger Event means, as determined as of the last day of each Monthly Period, the occurrence of the Sixty Day Delinquency Rate Percentage being equal to or greater than the Delinquency Trigger Percentage.

Delinquency Trigger Event. A Delinquency Trigger Event is in effect with respect to a Distribution Date on or after the Stepdown Date if the Rolling Sixty Day Delinquency Rate for the outstanding Loans equals or exceeds the product of (i) 32.94% and the Group I Senior Enhancement Percentage for any Distribution Date prior to the Distribution Date in January 2012 and (ii) 40.00% and the Group I Senior Enhancement Percentage for any Distribution Date on or after the Distribution Date in January 2012.

Delinquency Trigger Event. A Delinquency Trigger Event is in effect on any Distribution Date if on that Distribution Date the 60 Day+ Rolling Average equals or exceeds 40% of the prior period's Senior Enhancement Percentage. The 60 Day+ Rolling Average will equal the rolling 3 month average percentage of Mortgage Loans that are 60 or more days delinquent.