Appraisal Trigger Event definition

Appraisal Trigger Event. As defined in Section 3.19(a).

Appraisal Trigger Event means

Appraisal Trigger Event means, with respect to any Mortgage Loan, any of the following events:

Examples of Appraisal Trigger Event in a sentence

• A Mortgage Loan shall cease to be a Required Appraisal Loan if and when, following the occurrence of the most recent Appraisal Trigger Event, any and all Servicing Transfer Events with respect to such Mortgage Loan have ceased to exist and no other Appraisal Trigger Event has occurred with respect thereto during the preceding ninety (90) days.

• A Serviced Mortgage Loan shall cease to be a Required Appraisal Loan if and when, following the occurrence of the most recent Appraisal Trigger Event, any and all Servicing Transfer Events with respect to such Mortgage Loan have ceased to exist and no other Appraisal Trigger Event has occurred with respect thereto during the preceding ninety (90) days.

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More Definitions of Appraisal Trigger Event

Appraisal Trigger Event. With respect to any Serviced Loan, any of the following events:

Appraisal Trigger Event means any of the following events: ----------------------- (a) the Mortgage Loan is 60 days delinquent in respect of any Monthly Payment Amount; (b) any of the Mortgaged Properties becomes an REO Property; (c) the Mortgage Loan is modified to reduce the amount of any Monthly Payment Amount; (d) a receiver is appointed and continues in such capacity in respect of any Mortgaged Property for at least 30 days; (e) the Borrower is subject to any bankruptcy, insolvency or similar proceeding; (f) the Mortgage Loan is due and has not been paid on the Maturity Date; or (g) three years have elapsed following an extension of the Maturity Date of the Mortgage Loan by the Special Servicer following a default described in clause (f) above.

Appraisal Trigger Event shall have the meaning assigned such term in the Servicing Agreement.

Appraisal Trigger Event means the earlier to occur of (i) Borrowers' election to complete an appraisal of Inventory (including, without limitation the CEB Inventory) or (ii) any day on which Availability is less than 17.5% of the Maximum Revolver Amount.

Appraisal Trigger Event with respect to any Operating Property, for any fiscal quarter of such Operating Property, (i) Operating Property EBITDA for such Operating Property decreases by 5% or more from Operating Property EBITDA for such Operating Property from the immediately preceding fiscal quarter, or (ii) such Operating Property loses tenants paying rent under executed leases representing 5% or more of the total number of units as at the last day of the immediately preceding fiscal quarter.

Appraisal Trigger Event shall have the meaning given such term in the Securitization Servicing Agreement.

Appraisal Trigger Event. Xxxx xxxxxxx xx any Loan or Loan Pair, any of the following events: