Step Up Trigger Event definition
Step Up Trigger Event means, in relation to Sustainability-Linked Notes for which a Step-Up Option is specified to be applicable in the relevant Final Terms, a Sustainability Trigger Event.
Step Up Trigger Event. With respect to the Adjustable Rate Group and any Distribution Date, either (i) the Adjustable Rate Group 90+ Rolling Delinquency Percentage with respect to the Adjustable Rate Group equals or exceeds 10% or (ii) the Minimum Excess Spread Percentage is less than 2%. Subordinate Certificates: The Class M-1A, Class M-2A and Class B-1A Certificates.
Step Up Trigger Event means the Weighted Average FICO Score is less than 650.
More Definitions of Step Up Trigger Event
Step Up Trigger Event. With respect to any Distribution Date, a Step Up Trigger Event shall be in effect for purposes of calculating the Overcollateralization Target Amount for both Loan Groups if the aggregate Realized Losses on the Loans incurred from and after the Cut-off Date through the end of the related Due Period shall be in excess of (i) in the case the 1st through the 24th Distribution Dates, 3.00% of the sum of the Group I Maximum Collateral Amount and the Group II Maximum Collateral Amount, (ii) in the case of the 25th through the 36th Distribution Dates, 4.00% of the sum of the Group I Maximum Collateral Amount and the Group II Maximum Collateral Amount, (iii) in the case of the 37th through the 48th Distribution Dates, 5.25% of the sum of the Group I Maximum Collateral Amount and the Group II Maximum Collateral Amount, (iv) in the case of the 49th through the 60th Distribution Date, 6.00% of the sum of the Group I Maximum Collateral Amount and the Group II Maximum Collateral Amount and (v) in the case of the 61st Distribution Date and any Distribution Date thereafter, 7.00% of the sum of the Group I Maximum Collateral Amount and the Group II Maximum Collateral Amount.
Step Up Trigger Event has the meaning attributed to such term in Section 2.6.