Subservicer Termination Event. A Subservicer Termination Event shall have occurred if either (a) the Delinquency Rate for any month exceeds 20.00% or (b) Cumulative Realized Losses incurred from the Cut-off Date through the last day of the related Collection Period, expressed as a percentage of the Cut-off Date Balance as of any date exceeds 7.75%.
Appears in 2 contracts
Sources: Subservicing Agreement (Aegis Asset Backed Securities Trust Mortgage Pass-Through Certificates, Series 2005-4), Subservicing Agreement (Aegis Asset Backed Securities Trust 2005-3)