MTM Trigger Event definition

MTM Trigger Event means the notification by the Calculation Agent to the Issuer (copied to the Trustee) of its determination that an MTM Trigger has occurred.
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MTM Trigger Event unless specified as not applicable, an MTM Trigger Event, the Issuer will give a Notice of Redemption and will redeem all of the Notes at their Mandatory Redemption Amount on the Mandatory Redemption Date. The Calculation Agent shall monitor each specified MTM Trigger Contract for MTM Trigger Events and, upon becoming aware of any, as soon as reasonably practicable, notify their occurrence to the Issuer and the Trustee;
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MTM Trigger Event means the notification (by the Calculation Agent to the Issuer (copied to the Trustee) of its determination that an MTM Trigger has occurred.
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Examples of MTM Trigger Event in a sentence

  • A Mandatory Redemption Event may occur upon the occurrence of any of an Asset Event, a Tax Redemption Event, a FATCA Tax Event, a Swap Event, an MTM Trigger Event, an Illegality Event, an Arranger Insolvency Event, an Asset Redenomination Event, an Asset Restructuring, a Settlement/Custodial Event, a Change in Law Event, a Euro Dissolution Event, a Regulatory Change Event, an AR Termination Election (in each case if applicable) and any other event specified as an applicable Mandatory Redemption Event.

  • The Issuer shall promptly notify the Noteholder of the occurrence of an MTM Trigger Event.

  • The Noteholders are therefore exposed to market value risk on the Collateral Assets as well as the risk of an MTM Trigger Event.

  • MTM Trigger Event Upon the occurrence of an MTM Trigger Event (which, broadly, will arise if the value of the Collateral Assets less the termination value of the related swap transaction payable to the Counterparty falls below 40 per cent.

  • Also, if an MTM Trigger Event arises, the market value of the Collateral Assets is likely to be below par.

  • Such MTM Trigger Event shall be a Mandatory Redemption Event for the purposes of Condition 5.1.

  • The following Mandatory Redemption Events will not be applicable in respect of the Note: (i) MTM Trigger Event; and (ii) AR Termination Election.

  • Upon the occurrence of an MTM Trigger Event, the Issuer shall redeem the Notes early and shall pay or cause to be paid an Early Redemption Amount determined in accordance with paragraph 24.The " Market Trigger Condition" shall be satisfied if the secondary mid-market price of the Notes (expressed as a percentage of the Specified Denomination) falls below 50%.

  • If the Swap Counterparty serves an MTM Trigger Event Notice upon the Issuer pursuant to the CDS Swap Agreement, then the Issuer shall redeem all of the Notes at the Early Redemption Amount (as defined in paragraph 43 below) on a day which is no later than five London and TARGET Business Days, from the effective date of the MTM Trigger Event Notice.

  • Following the service of an MTM Trigger Event Notice in accordance with these provisions the Notes will be redeemed at their Early Redemption Amount.


More Definitions of MTM Trigger Event

MTM Trigger Event means the determination of the Calculation Agent in accordance with paragraph 2.6 of this Part C.
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MTM Trigger Event means a situation where on any Business Day the MTM Amount is equal to or greater than 50 per cent. of the initial aggregate nominal amount of the Notes plus the sum of the Additional Collateral Payment Amounts in the Additional Collateral Cash Account at that time.
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MTM Trigger Event means the determination and notification to the Swap Counterparty by the Calculation Agent on any day that the amount equal to (i) the Portfolio Outstanding Swap Notional Amount plus (ii) the notional amount standing to the credit of the Notional Short Account on such day multiplied by the PV Factor minus the Estimated Unwind Costs is less than EUR 7,500,000. The MTM Trigger Event which is the subject of the MTM Trigger Event Notice need not be continuing on the date the MTM Trigger Event Notice is served by the Swap Counterparty, provided that the MTM Trigger Event Notice has been served within 3 Business Days following the MTM Trigger Event. Any delay in service or decision to refrain from service of an MTM Trigger Event Notice shall not affect the right of the Swap Counterparty to serve an MTM Trigger Event Notice at any time thereafter (a) (where such event is continuing) in respect of such MTM Trigger Event, or (b) (where such event is not continuing) upon notification of any subsequent MTM Trigger Event.
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Related to MTM Trigger Event

  • 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.

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

  • 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.

  • 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.

  • 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%.

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

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

  • 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.

  • 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.

  • 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%

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • Derivative Provider Trigger Event means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.

  • Covenant Trigger Period means the period (a) commencing on the date that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $50,000,000 and (b) continuing until there has been a period of 30 consecutive days thereafter during which at all times (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $50,000,000.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

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

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

  • Subsequent Triggering Event means either of the following events or transactions occurring after the date hereof:

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • Company Triggering Event means: (i) the failure of the Board of Directors of the Company to recommend that the Company's stockholders vote to adopt this Agreement, or the withdrawal or modification of the Company Board Recommendation in a manner adverse to Parent, or the Board of Directors shall have taken any other action that is or becomes disclosed publicly or to a third party, which indicates that the Board of Directors of the Company does not support the Merger or does not believe that the Merger is in the best interests of the Company's stockholders; (ii) the Company shall have failed to include in the Proxy Statement the Company Board Recommendation or a statement to the effect that the Board of Directors of the Company has determined and believes that the Merger is in the best interests of the Company's stockholders; (iii) an Acquisition Proposal is publicly announced and the Board of Directors of the Company fails to reaffirm without qualification the Company Board Recommendation, or fails to publicly state without qualification, that the Merger is in the best interests of the Company's stockholders, within five business days after Parent requests in writing that such action be taken; (iv) the Board of Directors of the Company shall have approved, endorsed or recommended any Acquisition Proposal; (v) the Company shall have failed to comply with Section 5.04 in any material respect; (vi) a tender or exchange offer relating to securities of the Company shall have been commenced and the Company shall not have sent to its securityholders, within ten business days after the commencement of such tender or exchange offer, a statement disclosing that the Board of Directors recommends rejection of such tender or exchange offer; (vii) an Acquisition Proposal is publicly announced, and the Company fails to issue a press release announcing its opposition to such Acquisition Proposal within ten business days after such Acquisition Proposal is announced; or (viii) either the Company or any of its subsidiaries or any their Representatives shall have breached any of the provisions set forth in Section 5.04 (in any material respect) or Section 6.15.

  • Relevant Event means any Termination Event, Mandatory Prepayment Event or Further Novation Event, or any event which only with the passage of time, the giving of any notice or the fulfilment of any other condition (or a combination thereof) would constitute a Termination Event, Mandatory Prepayment Event or Further Novation Event;

  • Delinquency Trigger means, for any Payment Date and the related Collection Period, 24.00%.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Auto-Call Trigger Level means the level set out below for the relevant Auto-Call Valuation Date (i.e. as shown in the same row as that date):

  • Voting Rights Triggering Event means the failure of the Company to pay dividends on the Preferred Stock with respect to six or more quarterly periods (whether or not consecutive).