Delinquency Trigger definition

Delinquency Trigger means, for any Payment Date and the related Collection Period, 24.00%.

Delinquency Trigger means, that (i) as of the end of any of the first through twelfth Collection Periods, the Delinquency Rate exceeds 1.10%, (ii) as of the end of any of the thirteenth through twenty-fourth Collection Periods, the Delinquency Rate exceeds 1.80%, (iii) as of the end of any of the twenty-fifth through thirty-sixth Collection Periods, the Delinquency Rate exceeds 2.80% or (iv) as of the end of any subsequent Collection Period, the Delinquency Rate exceeds 4.90%.

Delinquency Trigger means, for any Payment Date and the related preceding calendar month, 4.80%.

Examples of Delinquency Trigger in a sentence

• Transferor shall, on behalf of Issuer, disclose the Delinquency Trigger Rate, as adjusted, in the distribution report on Form 10-D for the Monthly Period in which such adjustment occurs, which report shall also include a description of how the adjusted Delinquency Trigger Rate was deemed to be appropriate pursuant to Section 3.11(a)(iii) of the Transfer and Servicing Agreement.

• If a Delinquency Trigger occurs, as reported on a Form 10-D, a Noteholder or a Beneficial Owner may make a demand on the Indenture Trustee to cause a vote of the Noteholders or Beneficial Owners, as applicable, about whether to direct the Asset Representations Reviewer to conduct a Review of the Review Contracts under the Asset Representations Review Agreement.

• The vote will remain open until the 120th day after the filing of the Form 10-D disclosing that the Delinquency Percentage exceeds the Delinquency Trigger.

• Such written petition shall specify the related Delinquency Trigger and Form 10-D filing that gave rise to the Noteholders’ direction.

• For the avoidance of doubt, as long as a Delinquency Trigger has occurred and is continuing, a new 90-day petition period shall commence each month, beginning on the date on which Transferor discloses in the related distribution report on Form 10-D that the Delinquency Trigger is continuing.

More Definitions of Delinquency Trigger

Delinquency Trigger means, with respect to a Collection Period, the aggregate Principal Balance of 60-Day Delinquent Receivables as a percentage of the aggregate Principal Balance of Receivables as of the end of such Collection Period exceeds the Delinquency Trigger Percentage for such Collection Period. “Delinquency Trigger Percentage” equals 4.65%.

Delinquency Trigger means, with respect to a Collection Period, when (1) the ratio, expressed as a percentage, of (x) the Payoff Amount of all Receivables that are 60 or more days Delinquent as of the last day of such Collection Period (excluding Purchased Receivables and Liquidated Receivables) and (y) the Pool Balance as of the last day of such Collection Period, exceeds (2) the Delinquency Trigger Percentage. “Delinquency Trigger Percentage” equals 14.60%.

Delinquency Trigger means, for any Collection Period, that the aggregate Principal Balance of Receivables that are more than 60 days Delinquent as a percentage of the Pool Balance as of the last day of the Collection Period exceeds (a) 0.80% for the first 12 Collection Periods following the Cutoff Date, (b) 1.50% for the next 12 Collection Periods, (c) 2.70% for the next 12 Collection Periods and (d) 4.40% for the remaining Collection Periods that the Notes are Outstanding.

Delinquency Trigger means, for any Collection Period, that the aggregate Securitization Value of Leases in the 2018-B Reference Pool that are more than 60 days Delinquent as a percentage of the aggregate Securitization Value of the Leases in the 2018-B Reference Pool as of the last day of the Collection Period exceeds 0.30% for the first 12 Collection Periods and 0.40% for the remaining Collection Periods that the Notes are Outstanding.

Delinquency Trigger means 4.70%.

Delinquency Trigger means, for any Due Period, that the aggregate Principal Balance of Contracts that are 60 days or more Delinquent (assuming 30-day months) as a percentage of the Pool Balance as of the last day of the Due Period exceeds 6.00%.

Delinquency Trigger means that, as of the end of any Collection Period, the Delinquency Rate exceeds 40%.