Excess Spread Trigger Event definition

Excess Spread Trigger Event means with respect to any Determination Date, the Three Month Average Excess Spread with respect to such Determination Date is less than 2.0% per annum.
Sample 1Sample 2Sample 3

Examples of Excess Spread Trigger Event in a sentence

  • Net Excess Spread Trigger Event Occurrence----Yes Invested Amount----549,450,550.00 Current One Month Excess Spread (%)----2.76% Current Three Month Average Excess Spread (%)----5.51% Required Spread Account Deposit (%)----1.00% Spread Account Maximum ($)----5,494,506 Spread Account Balance ($)----4,440,076*The December 2005 Metris Master Trust results include the impact from higher defaults due to increased bankruptcies slightly offset by collection policy changes.

  • Net Excess Spread Trigger Event Occurrence----N/A Invested Amount----227,272,728.00 Current One Month Excess Spread (%)----6.53% Current Three Month Average Excess Spread (%)----5.26% Required Spread Account Deposit (%)----6.75% Spread Account Maximum ($)----15,340,909 Spread Account Balance ($)15,340,909HSBC FINANCE CORPORATION ("HSBC FINANCE") METRI S RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence--------No Invested Amount--------632,970,000.00 Current One Month Excess Spread (%)--------14.02% Current Three Month Average Excess Spread (%)--------7.78% Note Reserve (%)--------0.00% Note Reserve Maximum ($)--------0 Note Reserve Balance ($)--------0__________________________________________________________________________________________ HSBC FINANCE CORPORATION ("HSBC FINANCE")METRIS RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence--------No Invested Amount--------606,070,000.00 Current One Month Excess Spread (%)--------6.64% Current Three Month Average Excess Spread (%)--------5.72% Note Reserve (%)--------0.00% Note Reserve Maximum ($)--------0 Note Reserve Balance ($)--------0HSBC FINANCE CORPORATION ("HSBC FINANCE") METRIS RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence----N/A Invested Amount----227,272,728.00 Current One Month Excess Spread (%)----10.75% Current Three Month Average Excess Spread (%)----12.52% Required Spread Account Deposit (%)----4.00% Spread Account Maximum ($)----9,090,909 Spread Account Balance ($)9,090,909______________________________________________________________________________________________ HSBC FINANCE CORPORATION ("HSBC FINANCE") METRIS RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence--------No Invested Amount--------589,970,000.00* Current One Month Excess Spread (%)--------10.48% Current Three Month Average Excess Spread (%)--------11.38% Note Reserve (%)--------0.00% Note Reserve Maximum ($)--------0 Note Reserve Balance ($)--------0* The excess collateral was reduced by $16.1 million.

  • Net Excess Spread Trigger Event Occurrence--------NoInvested Amount--------0.00Current One Month Excess Spread (%)--------9.64%Current Three Month Average Excess Spread (%)--------8.95%Note Reserve (%)--------0.00%Note Reserve Maximum ($)--------0.00 Note Reserve Balance ($)--------0.00 * The excess collateral was reduced by $16.1 million.

  • Net Excess Spread Trigger Event Occurrence----No Invested Amount----662,983,425.00 Current One Month Excess Spread (%)----2.90% Current Three Month Average Excess Spread (%)----5.65% Required Spread Account Deposit (%)----0.00% Spread Account Maximum ($)----0 Spread Account Balance ($)----0*The December 2005 Metris Master Trust results include the impact from higher defaults due to increased bankruptcies slightly offset by collection policy changes.

  • The following is a brief comparison of our redemption plan during the Introductory Period (up to 90 days after becoming a shareholder) and the Post-Introductory Period (90 days or more after becoming a shareholder), which is qualified in its entirety by the disclosure contained herein.

  • Net Excess Spread Trigger Event Occurrence------No Invested Amount------828,729,282.00 Current One Month Excess Spread (%)------13.03% Current Three Month Average Excess Spread (%)------11.01% Note Reserve (%)------0.00% Note Reserve Maximum ($)------0 Note Reserve Balance ($)------0____________________________________________________________________________________HSBC FINANCE CORPORATION ("HSBC FINANCE")METRIS RECEIVABLES, INC.

Related to Excess Spread Trigger Event

  • Excess Spread means, with respect to any Distribution Date, the sum of the amounts, if any, specified pursuant to subsections 4.05(a)(iv), 4.05(b)(iii) and 4.05(c)(ii) with respect to such Distribution Date.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Net Excess Spread With respect to any Distribution Date, (A) the fraction, expressed as a percentage, the numerator of which is equal to the product of (i) the amount, if any, by which (a) the aggregate of the Interest Remittance Amounts for each Mortgage Pool for such Distribution Date (as reduced by the Credit Risk Manager’s Fee) exceeds (b) the Current Interest payable with respect to the Certificates for such date and (ii) twelve, and the denominator of which is the Aggregate Pool Balance for such Distribution Date, multiplied by (B) a fraction, the numerator of which is thirty and the denominator of which is the greater of thirty and the actual number of days in the immediately preceding calendar month.

  • 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%.

  • Cumulative Loss Trigger Event With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%

  • Total Monthly Excess Spread As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date.

  • Excess Spread Percentage for any Distribution Date means a fraction, the numerator of which is the Excess Spread Amount for such Distribution Date multiplied by 12 and the denominator of which is the sum of the Nominal Liquidation Amounts of all Tranches of DiscoverSeries Notes as of the first day of the related Due Period.

  • Remaining Excess Spread With respect to any Distribution Date, the Excess Spread less any Extra Principal Distribution Amount, in each case for such Distribution Date.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Excess Cash Flow Payment Date means the earlier of (a) the date occurring 90 days after the last day of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending December 31, 2018) and (b) the third Business Day following the date on which financial statements with respect to such period are delivered pursuant to Section 5.01(c).

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Quarterly Excess Spread Percentage means, with respect to the August 2008 Distribution Date and each Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Early Amortization Event means the occurrence of any of the following:

  • Rapid Amortization Event has the meaning given to it in Section 5.16.

  • Excess Cash Flow Payment Period means, with respect to any Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.

  • Prepayment Distribution Trigger With respect to any Distribution Date and any Class of Subordinate Certificates (other than the Class M-1 Certificates), a test that shall be satisfied if the fraction (expressed as a percentage) equal to the sum of the Certificate Principal Balances of such Class and each Class of Subordinate Certificates with a Lower Priority than such Class immediately prior to such Distribution Date divided by the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) immediately prior to such Distribution Date is greater than or equal to the sum of the related Initial Subordinate Class Percentages of such Classes of Subordinate Certificates.

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • Required Spread Account Amount means, for the March 2012 Payment Date and the April 2012 Payment Date, zero, and for any Payment Date thereafter, the product of (i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) during the Controlled Accumulation Period or the Early Amortization Period, the Collateral Amount as of the last day of the Revolving Period; provided that, prior to the occurrence of an Event of Default and acceleration of the Series 2012-1 Notes, the Required Spread Account Amount will never exceed the Class C Note Principal Balance (after taking into account any payments to be made on such Payment Date).

  • Book-Down Event means an event that triggers a negative adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).

  • 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.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.