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

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.

Examples of Delinquency Trigger Event in a sentence

• The Indenture Trustee shall record the written notifications received from Noteholders during such 90 day period as they relate to each identified Delinquency Trigger Event.

• The vote as to whether or not to undertake an ARR Review shall be completed within 150 days of disclosure in the Monthly Noteholders’ Statement of the occurrence of a Delinquency Trigger Event.

• Upon disclosure of the occurrence of a Delinquency Trigger Event in the Monthly Noteholders’ Statement relating to the Monthly Period when the Delinquency Trigger Event occurred, Noteholders shall have 90 days from the date of such disclosure to determine whether or not to initiate a vote.

• In order to initiate a vote, during such 90 day period Noteholders must send written notification to the Indenture Trustee indicating that in light of the occurrence of a Delinquency Trigger Event (such Delinquency Trigger Event to be specified in such written notification) they are in favor of initiating a vote with respect to such specified Delinquency Trigger Event to determine whether or not to direct the Asset Representations Reviewer to undertake an ARR Review.

• Upon the occurrence of a Delinquency Trigger Event any Noteholder, including any Note Owner, of an Outstanding Note shall have the right with respect to such Delinquency Trigger Event to initiate a vote to determine whether or not to direct the Asset Representations Reviewer to undertake a review of Sixty Day Delinquent Assets to determine whether or not such Sixty Day Delinquent Assets complied with the ARR Representations and Warranties (the “ ARR Review”).

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 unpaid 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 Current Maximum Amount for such Distribution Date equals or exceeds 35.15% 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 unpaid principal balance of the Mortgage Loans for such Distribution Date equals or exceeds 44.30% of the prior period's Class M-1 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.