Servicing Trigger definition

Servicing Trigger. As of any Distribution Date, for purposes of Section 7.05, "Servicing Trigger; Removal of Master Servicer," the occurrence of any of the following scenarios:

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Servicing Trigger. As of any Payment Date, for purposes of Section 7.04 of the Servicing Agreement, "Servicing Trigger; Removal of Master Servicer," the aggregate cumulative Liquidation Loss Amount on the Home Loans from the Cut-off Date through the end of the Collection Period immediately prior to such Payment Date is greater than:

Servicing Trigger. As of any Distribution Date, for purposes of Section 7.05 hereof, the occurrence of any of the following scenarios:

Examples of Servicing Trigger in a sentence

In addition, on each of the next three Distribution Dates and for every Distribution Date occurring in the last month of each Fiscal Quarter thereafter, if a Special Servicing Trigger is in effect the Majority Class CE Certificateholder shall have the option to direct the Master Servicer to transfer any additional Special Servicer Delinquent Loans as of such Distribution Dates to the special servicer.
In addition, on each of the next three Distribution Dates and for every Distribution Date occurring in the last month of each Fiscal Quarter thereafter, if a Special Servicing Trigger is in effect the Majority Class CE Certificateholder shall have the option to direct the Master Servicer to transfer any additional Delinquent Loans as of such Distribution Dates to the special servicer.
The Servicer shall immediately notify the Master Servicer in writing of the occurrence of any Servicing Default or any Servicing Trigger Event.
In the event of the appointment of the Master Servicer or other successor as successor Servicer in accordance with Section 6.02 hereof, the Servicing Trigger Event shall not apply.
The RMBS Servicer shall immediately notify the RMBS Master Servicer in writing of the occurrence of any Servicing Default or any RMBS Servicing Trigger Event.
In addition, upon the occurrence of any Servicing Trigger Event, the Master Servicer shall terminate the rights and responsibilities of the Servicer under the Servicing Agreement; provided, however, that in the event that the Servicer is rated “SQ2-” or better by M▇▇▇▇’▇ on any date, the Servicing Trigger Event shall no longer apply to the Servicer.
The RMBS Servicer shall immediately notify the RMBS Master Servicer in writing of the occurrence of any Servicing Default or any Servicing Trigger Event.
In addition, upon the occurrence of any Servicing Trigger Event, the Master Servicer shall terminate the rights and responsibilities of the Servicer hereunder and shall appoint a successor Servicer in accordance with the provisions of this Section 6.02; provided, however, that the foregoing provision shall not apply in the event that the Servicer is rated “SQ2-” or better by Moody’s on any date.
Upon determination by the Insurer that a Servicing Trigger has occurred, the Insurer shall give notice of such Servicing Trigger to the Master Servicer, the Depositor, the Trustee and to each Rating Agency.
In addition, upon the occurrence of any RMBS Servicing Trigger Event, the RMBS Master Servicer shall terminate the rights and responsibilities of the RMBS Servicer under the RMBS Servicing Agreement; provided, however, that in the event that the RMBS Servicer is rated "SQ2" or better by Moody's on any date, the RMBS Servicing Trigger Event shall no longer apply to the RMBS Servicer.

More Definitions of Servicing Trigger

Servicing Trigger shall apply with respect to any Program Receivable as of any date of determination if such Program Receivable is not a Performing Loan or Performing Lease, as applicable, as of the close of business on such date.

Servicing Trigger. As of any Payment Date, for purposes of Section 7.04 of the Servicing Agreement, the occurrence of any of the following scenarios:

Servicing Trigger. As defined in Section 7.07.

Servicing Trigger. As of any Distribution Date, for purposes of Section 9.06, the occurrence of any of the following scenarios:

Servicing Trigger. A Servicing Trigger shall have occurred for any Distribution Date iany of the following scenarios has occurred:

Servicing Trigger wherever used herein, means if any one or more of the following events shall occur and be continuing with respect to a Distribution Date: 103