Level III Trigger Event means the occurrence of any of the following events on any Determination Date, with respect to the related Collection Period:
Level III Trigger Event. “Monthly Principal Amount”, “Reserve Account Required Amount”, “Senior Interest” or “Subordinate Interest”.
Level III Trigger Event. “Monthly Principal Amount” or “Reserve Account Required Amount”.
More Definitions of Level III Trigger Event
Level III Trigger Event means, on any date, that the Servicer Delinquency ----------------------- Ratio exceeds 14% on such date and a Level IV Trigger Event is not in effect on such date; provided that such 14% shall be reduced to 12% with respect to computations of the Servicer Delinquency Ratios as of the last day of the February through September (inclusive) Collection Periods.
Level III 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 III Trigger Event means, as of any date of determination, (a) two or more Special Obligors (excluding (i) Fox Corporation and (ii) Xxx Communications, Inc. until the date on which the aggregate Unpaid Balance of all Pool Receivables owing by Xxx Communications, Inc. comprises 5.0% or more of the aggregate Unpaid Balance of all Pool Receivables as of such date) that are (or were, at any time since the Closing Date) Obligors with respect to outstanding Pool Receivables are subject to Level II Trigger Events within any trailing 12 month period and (b) the aggregate Unpaid Balance of all Receivables subject to a Level II Trigger Event shall equal or exceed the product of (i) 25.0% multiplied by (ii) the sum of the aggregate Unpaid Balance of all Eligible Receivables that are Pool Receivables plus the aggregate Unpaid Balance of all Receivables subject to a Level II Trigger Event that would be Eligible Receivables but for the occurrence of the Level II Trigger Event.
Level III Trigger Event means, on any Distribution Date, that the ----------------------- Receivables Pool Servicer Delinquency Ratio for any Receivables Pool exceeds the amount set forth opposite the number of months since such Receivables Pool was securitized on Schedule 5 to the Indenture.
Level III Trigger Event means at any time of determination, the occurrence of any of the following: (i) the Collateral Value Ratio is greater than 70%; or (ii) if the Three-Month Average Debt Service Coverage is less than 1.35; or (iii) the Pro Forma Debt Service Coverage is less than 1.25.
Level III Trigger Event. [***]: (i) [***]; (ii) [***]; (iii) [***]; (iv) [***]; or (v) [***]. “Liability” means any duty, responsibility, obligation or liability. “Lien” means any mortgage, lien, pledge, charge, claim, security interest or encumbrance of any kind. “Loan” has the meaning given to such term in Section 2.01(a). “Loan Rating Agency” means any Rating Agency rating the Loans. “Loans Outstanding” means, on any day, the aggregate Principal Amount of Loans made on or prior to such day, reduced from time to time by payments and distributions in respect of principal of the Loans in accordance with the terms hereof. “Long-Term Rating Requirement” means, with respect to any Person, that such Person has a long-term unsecured debt rating of either not less than “A” by Standard & Poor’s, not less than “A(high)” by DBRS or not less than “A2” by Moody’s. “Managed Receivables” means all Receivables (without giving effect to the requirement in the definition thereof that such Receivables be included in the Schedule of Receivables that are not Large Loans) originated by the Originators and held or serviced by the Originators or their Affiliates (including the Borrower). “Margin” has the meaning set forth in the Fee Letter. “Master Collection Account Bank” means BMO Xxxxxx Bank, N.A. or Xxxxx Fargo Bank, National Association, as applicable.
Level III Trigger Event. “Monthly Principal Payment Amount”, “Revolving Period”, or any defined term used in any of the foregoing definitions, (vii) consent to or permit the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement or of any of its right, title or interest in or to any Receivable pledged hereunder, except as contemplated by the Basic Documents, (viii) amend or modify any provision of Section 2.15, Section 6.02(s), Section 10.01, Article Eleven, Section 12.06, or Section 14.01, (ix) reduce the principal or the rate of interest on the Loans or any fees or other amounts payable hereunder or under any other Basic Document or modify or alter any provision relating to timing or priority of any payment of principal, interest or fees in respect of, or the pro rata treatment of, the Loans, or (x) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (i) through (x) above in a manner which would circumvent the intention of the restrictions set forth in such clauses;