Sequential Trigger Event definition

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 Trigger Event. An event which occurs if (x) on any Distribution Date before the 37th Distribution Date the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Principal Prepayment Period divided by the Cut-off Date Pool Principal Balance exceeds 0.550% or (y) on any Distribution Date on or after the 37th Distribution Date, a Trigger Event is in effect.

Sequential Trigger Event. (a) With respect to any Distribution Date occurring before August 2007, 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 Cut-off Date Pool Principal Balance equals or exceeds 1.45%, and (b) with respect to any Distribution Date occurring in or after August 2007, a Trigger Event.

Examples of Sequential Trigger Event in a sentence

• The average maturity of the Notes may be affected by a higher or lower than anticipated rate of prepayments on the SME Loans or the occurrence of a Sequential Trigger Event.

• The Issuer is obliged to apply the Notes Redemption Available Amount towards repayment of the Notes and, as long as no Sequential Trigger Event has occurred, the Subordinated Loan, in accordance with paragraph (b) of Condition 4.5 (Redemption and Cancellation).

• It did not explain why satisfactions of FELA judgments that do not expressly include awards of RRTA compensation are “pay for time lost” and did not address this Court’s rejection of reading the taxing and benefits statutes underlying Social Security as in pari materia.

• Sequential Trigger Event A Sequential Trigger Event is in effect on any Payment Date if, before the 37th Payment Date, the aggregate amount of Cumulative Realized Losses incurred since the Cut-Off Date through the last day of the related Prepayment Period divided by the aggregate unpaid principal balance of the mortgage loans as of the Cut-Off Date exceeds [4.00]%, or if, on or after the 37th Payment Date, a Trigger Event is in effect.

• With respect to the Group II Certificates, all principal distributions will be distributed concurrently to the Class A-2A and Class A-2B Certificates on a pro rata basis based on the Certificate Principal Balance of each such class, with the exception that if a Sequential Trigger Event is in effect, principal distributions will be allocated sequentially, to the Class A-2A and Class A-2B Certificates, in that order, until their respective Certificate Principal Balances have been reduced to zero.

More Definitions of Sequential Trigger Event

Sequential Trigger Event. Is in effect on any Distribution Date if (i) before the 37th Distribution Date following the Closing Date, the aggregate amount of Realized Losses incurred during the period from the Cut-off Date through the last day of the related Due Period divided by the Aggregate Loan Balance as of the Cut-off Date exceeds 0.60%, or (ii) on or after the 37th Distribution Date following the Closing Date, a Trigger Event is in effect.

Sequential Trigger Event. A Sequential Trigger Event shall have occurred with respect to any Distribution Date (a) prior to the Distribution Date in June 2008, if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred from the Cut-off Date through the last day of the related Collection Period by (y) the Cut-off Date Balance, exceeds 2.45% or (b) on or after the Distribution Date in June 2008, a Trigger Event is in effect.

Sequential Trigger Event is in effect on any Distribution Date if, before the Stepdown Date, the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period (reduced by the amount of Subsequent Recoveries received through the last day of the Due Period) divided by the aggregate principal balance of the Mortgage Loans as of the Cut-off Date and the amounts on deposit in the Pre-Funding Accounts as of the Closing Date exceeds 2.00%, or if, on or after the Stepdown Date, a Trigger Event is in effect.

Sequential Trigger Event. A Sequential Trigger Event is in effect with respect to any Distribution Date if (i) prior to the 25th Distribution Date, the aggregate amount of Realized Losses on the Mortgage Loans as a percentage of the initial aggregate Stated Principal Balance as of the Cut-off Date exceeds 0.20%, or (ii) if, on or after the 25th Distribution Date, a Trigger Event is in effect.

Sequential Trigger Event. A Sequential Trigger Event is in effect if any of the following occurs (a) the Overcollateralization Amount is zero and none of the Subordinate Certificates are outstanding, (b) with respect to any Distribution Date prior to the Distribution Date in September 2008, the aggregate amount of realized losses incurred since the Cut-off Date through the last day of the related Due Period (reduced by the aggregate amount of subsequent recoveries recovered since the Cut-Off Date through the last day of the related Due Period) divided by the aggregate principal balance of the Mortgage Loans on the Cut-Off Date exceeds 1.40% or (c) with respect to any Distribution Date on or after the Distribution Date in September 2008, a Trigger Event is in effect.

Sequential Trigger Event. With respect to any Distribution Date (a) before the 25th Distribution Date, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 1.40%, or (b) on or after the 25th Distribution Date, if a Trigger Event is in effect.

Sequential Trigger Event means, if (x) on any Distribution Date before the 37th Distribution Date, (i) the 60 Day+ Rolling Average equals or exceeds 40.00% of the prior period's Credit Enhancement Percentage for the Class A Certificates or (ii) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Principal Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.550%, or (y) on any Distribution Date on or after the 37th Distribution Date, a Trigger Event is in effect.