Sequential Payment Trigger definition

Sequential Payment Trigger means, with respect to any Distribution Date, the percentage set forth in Schedule C.
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Sequential Payment Trigger has the meaning specified in the Indenture.
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Sequential Payment Trigger means the first to occur of the following:
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Examples of Sequential Payment Trigger in a sentence

  • A "Sequential Payment Trigger" means the first to occur of the following: (a) a Calculation Date on which any of the Loans is a Specially Serviced Loan; or (b) a Note Payment Date following a Loan Final Maturity Event of Default (for the avoidance of doubt, without reference to any extension that may be agreed to by the Servicer or the Special Servicer).

  • Prior to the occurrence of a Sequential Payment Trigger, Principal Available Funds will be applied to redeem the Notes on a pro rata basis according to their respective Principal Amount Outstanding other than in respect of any Principal Available Funds comprising the Reverse Sequential Principal Payment Amount, which shall be applied in reverse sequential order.

  • Risks relating to the occurrence of a Sequential Payment Trigger Prior to the occurrence of a Sequential Payment Trigger, Principal Available Funds are applied by the Issuer pro rata and pari passu to the Class A Notes and the Class B Notes.

  • Following the occurrence of a Sequential Payment Trigger, Principal Available Funds received by the Issuer under the Securitised Loan will be applied sequentially to the Class A Notes and then to the Class B Notes.

  • SB-1 Schedule C Sequential Payment Trigger Percentages...................

  • Prior to the occurrence of a Sequential Payment Trigger, Principal Distribution Amounts will be applied in the following order of priority: (a) Sequential Funds; and (b) Redemption Funds; Sequential Funds will be applied sequentially to the Principal Amount Outstanding of each Class of Notes (other than the Class X Notes) at the relevant time from the most senior (which as at the Closing Date, will be the Class A Notes) to the least senior (which as at the Closing Date, will be the Class G Notes).

  • After occurrence of a Sequential Payment Trigger, Redemption Funds will be applied sequentially to the Principal Amount Outstanding of each Class of Notes (other than the Class X Notes) at the relevant time from the most senior (which, as at the Closing Date, will be the Class A Notes) to the least senior (which, as at the Closing Date, will be the Class G Notes).

  • Further, if as a result of the Limitation Rules being applied, any Pro Rata Principal Distribution Amounts have not been applied, such amounts shall be applied to all classes of Notes then outstanding in pro rata proportion to the principal amount outstanding taking into account in each case the Limitation Rules.After the occurrence of a Sequential Payment Trigger, all Principal Distribution Amounts shall be applied sequentially to the classes of Notes outstanding, from most senior to least senior.

  • Following the occurrence of a Sequential Payment Trigger, all Principal Distribution Amounts will be allocated to the redemption of the Notes sequentially beginning with the most senior class of Notes then outstanding and applied in accordance with the Pre-Enforcement Priority of Payments or Post- Enforcement Priority of Payments, as applicable.

  • The rate will take effect exclusively on the sixteenth day of the calendar month in which the expansion agreement is entered into if this agreement is entered into in the period from the first until the fifteenth day of that month, and on the first day of the next month in all other instances.


More Definitions of Sequential Payment Trigger

Sequential Payment Trigger means, with respect to a Distribution Date, the percentage listed below for that Distribution Date.
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Sequential Payment Trigger means the first to occur of:
Sample 1Sample 2Sample 3
Sequential Payment Trigger means, with respect to a Distribution Date, the percentage listed below for that Distribution Date. Sequential Payment Sequential Distribution Date Trigger Distribution Date Payment Trigger ----------------- ------- ----------------- --------------- January 2006 0.50% May 2007 1.00% February 2006 0.50% June 2007 1.00% March 2006 0.50% July 2007 1.50% April 2006 0.50% August 2007 1.50% May 2006 0.50% September 2007 1.50% June 2006 0.50% October 2007 1.50% July 2006 0.75% November 2007 1.50% August 2006 0.75% December 2007 1.50% September 2006 0.75% January 2008 2.10% October 2006 0.75% February 2008 2.10% November 2006 0.75% March 2008 2.10% December 2006 0.75% April 2008 2.10% January 2007 1.00% May 2008 2.10% February 2007 1.00% June 2008 2.10% March 2007 1.00% On and after July 2008 2.50% April 2007 1.00%
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Sequential Payment Trigger means, with respect to a Distribution Date, the percentage listed below for that Distribution Date. Sequential Payment Sequential Distribution Date Trigger Distribution Date Payment Trigger ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% ________ 20__ ____% On and after ____ 20__ ____% ________ 20__ ____%
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Related to Sequential Payment Trigger

  • 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.

  • Sequential Pay Event means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Mortgage Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer under the Servicing Agreement has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made by the Note B Holder (unless a Control Appraisal Period has occurred and is continuing) in accordance with Section 11) and shall not be deemed to exist to the extent the Note B Holder is exercising its cure rights under Section 11.

  • Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount under this Single Family Shared-Loss Agreement and the Shared-Loss Amount under the Commercial and Other Assets Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.

  • 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.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Class Prepayment Distribution Trigger For a Class of Subordinate Certificates for any Distribution Date, the Class Prepayment Distribution Trigger is satisfied if the fraction (expressed as a percentage), the numerator of which is the aggregate Current Principal Amount of such Class and each Class of Subordinate Certificates subordinate thereto, if any, and the denominator of which is the Scheduled Principal Balance of all of the Mortgage Loans as of the related Due Date, equals or exceeds such percentage calculated as of the Closing Date.

  • 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.

  • 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.

  • ii) 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:

  • Potential Amortization Event means an event which, with the passage of time or the giving of notice, or both, would constitute an Amortization Event.

  • 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%

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

  • Amortization Period means, with respect to any Series, or any Class within a Series, a period following the Revolving Period during which principal is distributed to Investor Certificateholders, which shall be the controlled amortization period, the principal amortization period, the rapid amortization period, or other amortization period, in each case as defined with respect to such Series in the related Supplement.

  • 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%.

  • Sequential Order means (a) first, to the reduction of the Note Principal Balance of each of the A Notes and all interest thereon, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero and (b) second, to the reduction of the Note Principal Balance of the B Note until the Note Principal Balance of such Note is reduced to zero.

  • Excess Cash Payment Date means the date occurring 95 days after the last day of each Fiscal Year of Holdings (commencing with the Fiscal Year of Holdings ended December 31, 2010).

  • 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.

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • 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.

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

  • Class C Coverage Tests means the Class C Interest Coverage Test and the Class C Par Value Test.

  • 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”.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • 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).

  • Amortization Amount means, with respect to any Principal Amount Repayment Date, the amount set forth opposite such Date on the Amortization Schedule.