Delinquency Event definition
Delinquency Event. A Delinquency Event shall have occurred with respect to any Distribution Date if the Rolling Three Month Delinquency Rate as of the last day of the immediately preceding calendar month equals or exceeds 53.00% of the Senior Enhancement Percentage for such Distribution Date.
Delinquency Event. A Delinquency Event shall have occurred and be continuing if at any time, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more Delinquent (including for this purpose any such Mortgage Loans in bankruptcy or foreclosure and Mortgage Loans with respect to which the related Mortgaged Property is REO Property), and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period exceeds (y) 33% of the Current Specified Enhancement Percentage.
Delinquency Event. A Delinquency Event shall have occurred and be continuing, if at any time the Three Month Delinquency Rate exceeds 50% of the Senior Enhancement Percentage.
Examples of Delinquency Event in a sentence
As to any Distribution Date on which a Delinquency Event does not exist, the Required Overcollateralization Amount without giving effect to the OC Floor calculation.
As to any Distribution Date on which a Delinquency Event does not exist, the Required Overcollateralization Amount II without giving effect to the OC Floor calculation.
If (i) the Note is repaid in the entirety on or before the Maturity Date (as defined in the Note), (ii) an Event of Default (as defined in the Note) has not occurred under Section 3.1, 3.7, 3.10, or 3.18 of the Note, (iii) the Company timely pays each Amortization Payment (as defined in the Note) as required under the Note, and (iv) a Delinquency Event (as defined below) has not occurred, then the Second Commitment Shares shall be cancelled and returned to the Company’s treasury.
More Definitions of Delinquency Event
Delinquency Event. A Delinquency Event shall have occurred and be continuing if at any time, (x) the three-month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 61 days or more Delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period equals or exceeds (y) 50% of the Senior Enhancement Percentage for such Distribution Date.
Delinquency Event. Any of a Group I Delinquency Event or Group II Delinquency Event.
Delinquency Event. Any Distribution Date on which the Rolling Three Month Delinquency Rate as of the last day of the immediately preceding calendar month equals or exceeds (1) 37.30% of the Senior Enhancement Percentage for such Distribution Date or (2) with respect to any Distribution Date on or after the aggregate Class Principal Amount of the Senior Certificate has been reduced to zero, 48.30% of the Class M1 Enhancement Percentage.
Delinquency Event. A Delinquency Event shall have occurred and be continuing if at any time, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more Delinquent (including for this purpose any such Mortgage Loans in bankruptcy or foreclosure and Mortgage Loans with respect to which the related Mortgaged Property is REO Property), and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the prior calendar month), exceeds (y) 32.10% of the Current Specified Enhancement Percentage.
Delinquency Event. A Delinquency Event shall have occurred and be continuing if at any time, (x) the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more Delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the related Due Period equals or exceeds (y) 50% of the Senior Enhancement Percentage.
Delinquency Event. A Delinquency Event will have occurred with respect to any Distribution Date if the 60-Day Delinquency Rate as of the last day of the immediately preceding calendar month exceeds 14.00%.
Delinquency Event. A Delinquency Event shall be in effect on a Distribution Date, if the Three Month Delinquency Rate exceeds 42.00% of the Senior Enhancement Percentage for such Distribution Date. Delta: Delta Funding Corporation, a New York corporation, or any successor thereto.