Status Trigger definition

Status Trigger means, for a Collection Period, that the aggregate principal amount of Receivables in Accounts that have been designated as “status” by the Servicer exceeds 11.1% of the Pool Balance, in each case, as of the last day of the Collection Period.
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Status Trigger means, for any Determination Date and the related Collection Period, 10.20%.
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Status Trigger means, for any Determination Date and the related Collection Period, [●]%.
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Examples of Status Trigger in a sentence

  • If more than one Review Notice is received relating to the occurrence of a Status Trigger, the Asset Representations Reviewer will only perform a single Review of the related Review Receivables for each Shelf-Eligible Series for which the Tests are substantially similar.

  • If the Series 2017-2 Noteholders or Note Owners, of at least 5% of the aggregate Note Balance of the Series 2017-2 Notes demand a vote within 90 days of the filing of the Form 10-D reporting the occurrence of the Status Trigger, the Indenture Trustee will promptly request a vote of the Series 2017-2 Noteholders or Note Owners of record as of the most recent Record Date and, in the case of Note Owners, through the Clearing Agency process.

  • If the Series 20 - Noteholders or Note Owners, of at least 5% of the aggregate Note Balance of the Series 20 - Notes demand a vote within 90 days of the filing of the Form 10-D reporting the occurrence of the Status Trigger, the Indenture Trustee will promptly request a vote of the Series 20 - Noteholders or Note Owners of record as of the most recent Record Date and, in the case of Note Owners, through the Clearing Agency process.

  • If a Status Trigger occurs, as reported on Form 10-D, a Series 2017-3 Noteholder (if the Notes are represented by Definitive Notes) or a Note Owner (if the Notes are represented by Book-Entry Notes) may make a demand on the Indenture Trustee to cause a vote of the Series 2017-3 Noteholders or Note Owners, as applicable, about whether to direct the Asset Representations Reviewer to conduct a Review of the Review Receivables under the Asset Representations Review Agreement.

  • If the Series 20__-__ Noteholders or Note Owners, of at least 5% of the aggregate Note Balance of the Series 20__-__ Notes demand a vote within 90 days of the filing of the Form 10-D reporting the occurrence of the Status Trigger, the Indenture Trustee will promptly request a vote of the Series 20__-__ Noteholders or Note Owners of record as of the most recent Record Date and, in the case of Note Owners, through the Clearing Agency process.

  • If the Series 2019-1 Noteholders or Note Owners, of at least 5% of the aggregate Note Balance of the Series 2019-1 Notes demand a vote within 90 days of the filing of the Form 10-D reporting the occurrence of the Status Trigger, the Indenture Trustee will promptly request a vote of the Series 2019-1 Noteholders or Note Owners of record as of the most recent Record Date and, in the case of Note Owners, through the Clearing Agency process.

  • If a Status Trigger occurs, as reported on Form 10-D, a Series 2020-2 Noteholder (if the Notes are represented by Definitive Notes) or a Note Owner (if the Notes are represented by Book-Entry Notes) may make a demand on the Indenture Trustee to cause a vote of the Series 2020-2 Noteholders or Note Owners, as applicable, about whether to direct the Asset Representations Reviewer to conduct a Review of the Review Receivables under the Asset Representations Review Agreement.

  • If the Series 2018-3 Noteholders or Note Owners, of at least 5% of the aggregate Note Balance of the Series 2018-3 Notes demand a vote within 90 days of the filing of the Form 10-D reporting the occurrence of the Status Trigger, the Indenture Trustee will promptly request a vote of the Series 2018-3 Noteholders or Note Owners of record as of the most recent Record Date and, in the case of Note Owners, through the Clearing Agency process.

  • If a Status Trigger occurs, as reported on Form 10-D, a Series 2019-1 Noteholder (if the Notes are represented by Definitive Notes) or a Note Owner (if the Notes are represented by Book-Entry Notes) may make a demand on the Indenture Trustee to cause a vote of the Series 2019-1 Noteholders or Note Owners, as applicable, about whether to direct the Asset Representations Reviewer to conduct a Review of the Review Receivables under the Asset Representations Review Agreement.

  • If the Series 2016-5 Noteholders or Note Owners, of at least 5% of the aggregate Note Balance of the Series 2016-5 Notes demand a vote within 90 days of the filing of the Form 10-D reporting the occurrence of the Status Trigger, the Indenture Trustee will promptly request a vote of the Series 2016-5 Noteholders or Note Owners of record as of the most recent Record Date and, in the case of Note Owners, through the Clearing Agency process.

Related to Status Trigger

  • 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.