Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount under this Single Family Shared-Loss Agreement and the Shared-Loss Amount under the Commercial and Other Assets Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.
Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount under [the] Single Family Shared-Loss Agreement and the Shared-Loss Amount under the Commercial and Other Assets Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared-Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.
Shared Loss Payment Trigger means when the sum of the Cumulative Loss Module 1 - Whole Bank w/ Loss Share - P&A Guaranty Bank Version 1.05 000 Xxxxxx, Xxxxx June 16, 2009 Amount under the Single Family Shared-Loss Agreement and the cumulative Net Charge-Offs under this Commercial Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared-Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.
Examples of Shared Loss Payment Trigger in a sentence
After the Shared-Loss Payment Trigger is reached, not later than fifteen (15) days after the date on which the Receiver receives the Monthly Certificate, the Receiver shall pay to the Assuming Bank, in immediately available funds, an amount equal to eighty percent (80%) of the Monthly Shared-Loss Amount reported on the Monthly Certificate.
More Definitions of Shared Loss Payment Trigger
Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount Module 1 – Whole Bank w/ Loss Share – P&A 71 Satilla Community Bank Version 2.05 St. Marys Georgia April 26, 2010 under this Single Family Shared-Loss Agreement and the cumulative Shared-Loss Amounts under the Commercial Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.