Servicer Termination Trigger definition

Servicer Termination Trigger. With respect to any Distribution Date, if the Cumulative Loss Percentage, with respect to the Mortgage Loans serviced by the Servicer, exceeds the applicable cumulative loss percentages set forth with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- February 2007 through January 2008 4.75% February 2008 through January 2009 6.50% February 2009 through January 2010 7.50% February 2010 and thereafter 8.00%
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Servicer Termination Trigger. With respect to any Distribution Date, the Realized Losses incurred since the Cut-off Date through the last day of the related Due Period exceeds the applicable percentages set forth below with respect to such Distribution Date: DISTRIBUTION DATE OCCURRING IN PERCENTAGE ------------------------------ ----------
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Servicer Termination Trigger. With respect to any Distribution Date, the Cumulative Realized Losses incurred since the Cut-off Date through the last day of the related Due Period exceeds the applicable percentages set forth below with respect to such Distribution Date: DISTRIBUTION DATE OCCURRING IN PERCENTAGE ------------------------------------------------------------------------------- October 2002 through September 2006 3.50% October 2006 through September 2007 5.00% October 2007 through September 2008 6.25% October 2008 and September 2009 7.00% October 2009 and thereafter 7.50%
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Examples of Servicer Termination Trigger in a sentence

  • In the event of a Servicer Termination Trigger, the Master Servicer shall terminate the Servicer at the direction of the Owner.

  • If a Servicer Termination Trigger Event occurs, the Trustee shall, but only upon receipt of instructions from the Certificate Insurer or the holders of Certificates having not less than 51% of the Voting Rights evidenced by the Certificates (with the prior written consent of the Certificate Insurer), terminate all of the rights and obligations of the Servicer under the Pooling and Servicing Agreement and in and to the Mortgage Loans as described in the preceding sentence.

  • The hyperparameters α is set as 0.1, β is set as 0.1 and the number of layers is set as 2 for the best performance.

  • The provisions of this Agreement shall be binding upon, and inure to the benefit of, Investor and the Company and their respective successors and permitted assigns.

  • A Servicer Termination Trigger will have occurred on a Payment Date if either (a) the Three Month Rolling Delinquency Percentage for the Mortgage Loans exceeds 45.00% or (b) the Cumulative Loss Percentage exceeds 4.00% from April 2005 to March 2010, or 6.00% from April 2010 to March 2015.

  • Servicer Termination Trigger Event (a) Cumulative Realized Loss Ratio (Trigger event exists if ratio exceeds 10%) 0.00% -------------- (b) Aggregate Unpaid Principal Balance of Loans delinquent more than 60 days as percentage of Cut-off Date Pool Principal Balance (trigger event exists if exceeds 18%) 0.00% -------------- Please contact the Bondholder Relations Department of U.S. Bank Trust National Association at (612) 224-0444 with any questions regarding this Statement or your Distribution.


More Definitions of Servicer Termination Trigger

Servicer Termination Trigger. Either (i) the Delinquency Percentage for both Loan Groups (excluding for purposes of this test, any Mortgage Loans that are current and under a forbearance plan) equals or exceeds 20% with respect to such Distribution Date or (ii) the Cumulative Realized Losses incurred since the Cut-off Date through the last day of the related Due Period exceeds the applicable percentages set forth below with respect to such Distribution Date: DISTRIBUTION DATE OCCURRING IN PERCENTAGE ------------------------------------------------------------------------------- October 2001 through September 2005 3.00% October 2005 through September 2006 3.75% October 2006 through September 2007 4.25% October 2007 and thereafter 4.75%
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Servicer Termination Trigger. A Servicer Termination Trigger has occurred with respect to any Distribution Date if as of the last day of the related Due Period (i) the percentage obtained by dividing (a) the aggregate amount of Realized Losses since the Cut-Off Date by (b) Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date, exceeds (ii) 4%.
Sample 1
Servicer Termination Trigger. A Servicer Termination Trigger has occurred (i) with respect to a Distribution Date occurring between the Cut-off Date and the fifth anniversary of the Cut-off Date if on such Distribution Date (X) the sum of (a) the product of (1) the percentage obtained by dividing the balance of 30 to 59 day delinquent Mortgage Loans by the Stated Principal Balance of the Mortgage Loans, (2) 25% and (3) 43.00%; plus (b) the product of (1) the percentage obtained by dividing the balance of 60 to 89 day delinquent Mortgage Loans by the Stated Principal Balance of the Mortgage Loans, (2) 50% and (3) 43.00%; plus (c) the product of (1) the percentage obtained by dividing the balance of 90 day or more delinquent Mortgage Loans by the Stated Principal Balance of the Mortgage Loans and (2) 43.00%; plus (d) the percentage obtained by dividing the sum of Realized Losses as of such Distribution Date by the aggregate initial Stated Principal Balance of the Mortgage Loans on the Cut-Off Date, in each case as of the last day of the calendar month preceding such Distribution Date, exceeds (Y) 11.00% and (ii) with respect to a Distribution Date occurring after the fifth anniversary of the Cut-off Date and on or before the tenth anniversary of the Cut-off Date if on such Distribution Date the sum set forth in (X) above, in each case as of the last day of the calendar month preceding such Distribution Date, exceeds 16.50%.
Sample 1
Servicer Termination Trigger. With respect to any Distribution Date, a Servicer Termination Trigger exists when the aggregate amount of cumulative Realized Losses incurred since the Cut-off Date through the last day of the related Due Period divided by the initial Pool Stated Principal Balance exceeds the applicable percentages set forth below with respect to such Distribution Date: DISTRIBUTION DATE OCCURRING IN PERCENTAGE ----------------------------------- ------------ December 2007 through November 2008 4.50% December 2008 through November 2009 6.75% December 2009 through November 2010 8.75% December 2010 and thereafter 10.00%
Sample 1

Related to Servicer Termination Trigger

  • Servicer Termination Test With respect to any Distribution Date, the Servicer will fail the Servicer Termination Test if the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Percentage January 2006 through December 2007 2.75% January 2008 through December 2008 3.25% January 2009 through December 2009 3.75% January 2010 and thereafter 4.50%

  • Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.

  • Servicer Termination Notice Defined in Section 6.15.

  • Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.

  • Master Servicer Event of Termination As defined in Section 7.01 hereof.

  • Servicer Event of Termination One or more of the events described in Section 7.01.

  • Asset Representations Reviewer Termination Event means any one of the following events whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body:

  • Operating Advisor Termination Event means any one of the following events whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body:

  • 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.

  • Event Termination Date See Section 2(e) hereof.

  • Event of Servicing Termination means an event specified in Section 8.1 of the Sale and Servicing Agreement.

  • Swap Termination Event means any event defined as a “Termination Event” in the Interest Rate Swap Agreement.

  • Company Termination Event means any of the following:

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Loan Termination Date means the earliest to occur of the following: (i) as to TERM NOTE 2, TERM NOTE 4, and TERM NOTE 5, September 1, 2011; as to the REVOLVING NOTE, April 21, 2006; (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date BANK receives (a) notice in writing from BORROWER of BORROWER’S election to terminate this AGREEMENT and (b) indefeasible payment in full of the OBLIGATIONS.

  • Senior Termination Date For each Senior Certificate Group, the Distribution Date on which the aggregate Class Certificate Balance of the related Classes of Senior Certificates has been reduced to zero.

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Early Termination Event has the meaning specified in Section 9.2.

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.