Level II Trigger Event means the occurrence of any of the following events on any Determination Date, with respect to the related Collection Period:
Level II Trigger Event means the occurrence of any of the following:
Level II Trigger Event means, as of any date, the existence of a ---------------------- Portfolio Default on such date. A "Level II Trigger Event" shall be deemed to exist so long as the underlying Portfolio Default is not cured or waived in accordance with the related transaction documents.
Examples of Level II Trigger Event in a sentence
Upon the occurrence of a Level I Trigger Event, and until such time as a Level II Trigger Event shall have occurred, the Collection Agent shall remit daily within one (1) Business Day of receipt to the Bank of America Collection Account all Collections received.
More Definitions of Level II Trigger Event
Level II Trigger Event means a Level II Cumulative Gross Loss Trigger Event, a Level II Cumulative Net Loss Trigger Event or a Level II Delinquency Trigger Event.
Level II Trigger Event means the occurrence of any of the following events on any Determination Date (other than during a Securitization Trigger Holiday with respect to such Determination Date and the related Collection Period with respect to clauses (i), (ii), (iii) and (iv)), with respect to the related Collection Period:
Level II Trigger Event means the failure of Yellow Roadway Corporation to maintain a Total Leverage Ratio (as defined in the Yellow Credit Agreement) or a Consolidated Interest Coverage Ratio (as defined in the Yellow Credit Agreement) as set forth in the table below.
Level II Trigger Event means the failure of Yellow Roadway Corporation to maintain a Total Leverage Ratio (as defined in the Yellow Roadway Credit Agreement as in effect on the date hereof) or a Consolidated Fixed Charge Coverage Ratio (as defined in the Yellow Roadway Credit Agreement as in effect on the date hereof) as set forth in the table below.
Level II Trigger Event means, with respect to any Payment Date, the Cumulative Net Loss Percentage, the Delinquency Percentage, or the Modification (Re-Age) Percentage exceeds the percentage for such Payment Date set forth in the table below: Payment Date (months from Initial Cut-Off Date) Cumulative Net Loss Percentage Delinquency Percentage Modification (Re-age) Percentage 1 3.0% 8.0% 40.0% 2 4.2% 12.0% 45.0% 3 4.4% 16.0% 45.0% 4 4.6% 20.0% 50.0% 5 4.9% 24.0% 50.0% 6 5.8% 24.5% 55.0% 7 8.3% 25.0% 60.0% 8 10.5% 26.0% 60.0% 9 12.7% 26.0% 60.0% 10 14.5% 26.5% 60.0% 11 16.1% 27.0% 60.0% 12 17.5% 27.5% 60.0%
Level II Trigger Event means, with respect to any Receivable owing by a Special Obligor, the Credit Rating (without regard to outlook or watch status) of such Obligor’s senior unsecured long-term indebtedness (or, if such Obligor does not then have a Credit Rating, its Reference Entity) shall be reduced three or more levels below the Credit Rating assigned to such entity as of the Closing Date or withdrawn following a Level I Trigger Event.
Level II Trigger Event means, a breach of any of the collateral performance tests listed below. The collateral performance tests listed below will be tested as of the last Business Day of each Collection Period (unless indicated otherwise) and reported to the Administrative Agent and the Lenders on each Monthly Report.