Reversible Loss Event Reference Obligation definition

Reversible Loss Event Reference Obligation means a Defaulted Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cashflows on any underlying assets) that all or part of the Principal Reduction of the Reference Obligation which constitutes a Loss Event may be reversed and any relevant amount paid, together with interest thereon and interest on interest which would have accrued or been paid in respect of such Loss Event. For the avoidance of doubt, a Reference Obligation shall not constitute a Reversible Loss Event Reference Obligation solely because the terms thereof provide for the reversal, re- determination or similar adjustment of any Principal Reduction of the Reference Obligation which has not been correctly determined or allocated in accordance with the terms thereof.
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Reversible Loss Event Reference Obligation means a Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cash flows on any underlying assets) that (a) in relation to a Reference Obligation which is a Cash ABS Asset, all or part of any reduction in the principal amount of the Reference Obligation which constitutes a Loss Event may be reversed or (b) in relation to a Reference Obligation which is a Synthetic ABS Asset, all or part of a settlement payment payable by the protection seller as the result of a Loss Event may be repaid by the protection buyer and the Maximum Liability Amount increased accordingly. For the avoidance of doubt, a Reference Obligation shall not constitute a Reversible Loss Event Reference Obligation solely because the terms thereof provide for the reversal, re-determination or similar adjustment of any principal reductions or, as the case may be, settlement payments, which have not been correctly determined or allocated in accordance with the terms thereof.
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Reversible Loss Event Reference Obligation means a Defaulted Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cashflows on any underlying assets) that all or part of the Principal Reduction of the Reference Obligation which constitutes a Loss Event may be reversed and any relevant amount paid, together with interest thereon and interest on interest which would have accrued or been paid in respect of such Loss Event. For the avoidance of doubt, a Reference Obligation shall not constitute a Reversible Loss Event Reference Obligation solely because the terms
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More Definitions of Reversible Loss Event Reference Obligation

Reversible Loss Event Reference Obligation means a Reference Obligation, the terms of which provide specifically in certain circumstances (including,
Sample 1
Reversible Loss Event Reference Obligation means a Defaulted Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cashflows on any underlying assets) that all or part of the Principal Reduction of the Reference Obligation which constitutes a Loss Event may be
Sample 1
Reversible Loss Event Reference Obligation means a Defaulted Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cashflows on any underlying assets) that all or part of the Principal Reduction of the Reference Obligation which constitutes a Loss Event may be reversed and any relevant amount paid, together with interest thereon and interest on interest which would have accrued or been paid in respect of such Loss Event. For the avoidance of doubt, a Reference Obligation shall not constitute a Reversible Loss Event Reference Obligation solely because the terms thereof provide for the reversal, re- determination or similar adjustment of any Principal Reduction of the Reference Obligation which has not been correctly determined or allocated in accordance with the terms thereof.S&P “S&P” means Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc or any successor rating agency thereto.S&P Recovery Rate “S&P Recovery Rate” means, with respect to aDefaulted Reference Obligation, the relevant figure (expressed as a percentage) determined by the Calculation Agent in accordance with S&P methodology in effect from time to time using the table set out in Schedule 2.Scheduled Distribution Date “Scheduled Distribution Date” means each date onwhich, under the terms of the relevant Reference Obligation, a Scheduled Interest Payment is scheduled to be paid (after giving effect to any applicable grace period).Scheduled Interest Payments “Scheduled Interest Payments” means the productof (i) the Scheduled Interest Rate; (ii) the relevant principal amount of the relevant Reference Obligation as used for such calculation of interest; and (iii) the day count fraction under the terms of the relevant Reference Obligation, provided that the outstanding principal amount of any such Reference Obligation will be adjusted for early payments of principal or write-downs of principal (except to the extent such write-downs would themselves constitute a Credit Event pursuant to this Transaction) and provided that Scheduled Interest Payments shall not include any interest that is not required to be paid under the terms of the Reference Obligation due to insufficient funds.Scheduled Interest Rate “Scheduled Interest Rate” means the applicablerate of interest or, with respect to the Reference Obligation that is not in the form of debt, the rate used to calculate periodic distributions, scheduled to be paid under the ter...
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Reversible Loss Event Reference Obligation means a Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cash flows on any underlying assets) that
Sample 1

Related to Reversible Loss Event Reference Obligation

  • Credit Event Reference Obligation means, with respect to any Payment Date, any Reference Obligation with respect to which a Credit Event has occurred.

  • Reversed Credit Event Reference Obligation With respect to any Payment Date means a Reference Obligation formerly in the Reference Pool that became a Credit Event Reference Obligation in a prior Reporting Period that is found in the related Reporting Period, through Xxxxxxx Mac’s quality control process, to have an Underwriting Defect or a data correction that invalidates the previously determined Credit Event.

  • Reference Obligation means an obligation used for the purposes of determining the cash settlement value of a credit derivative;

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Contractor under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Reference Obligations The residential mortgage loans identified on xxxx://xxx.xxxxxxxxxx.xxx/creditriskofferings/security_data.html. Reference Pool: All of the Reference Obligations, collectively.

  • Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount under this Single Family Shared-Loss Agreement and the Shared-Loss Amount under the Commercial and Other Assets Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.

  • Affected Reference Entity means, in respect of a Specified Payment Date, that the Reference Entity was a Non-Determined Reference Entity as of the Cut-off Date relating to that Specified Payment Date (in each case determined by reference to Greenwich Mean Time (or, if the relevant Standard is Japan or Japan Sovereign, Tokyo time)) or that a Deferral Notice has been given to the Company after the Cut-off Date relating to that Specified Payment Date but on or prior to that Specified Payment Date (in each case determined by reference to Greenwich Mean Time).

  • Excess Concentration Amount means, as of any date of determination on which any one or more of the Concentration Limitations are exceeded, an amount (calculated by the Servicer and without duplication) equal to the Dollar Equivalent of the portion of the Adjusted Principal Balance of each Eligible Collateral Loan that causes such Concentration Limitation to be exceeded.

  • Cumulative Loss Trigger Event If, with respect to any Distribution Date, the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period, divided by (y) the Cut-off Date Pool Principal Balance, exceeds the applicable Cumulative Loss Percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage March 2008 through February 1.400% for the first month, plus an additional 2009 1/12th of 1.750% for each month thereafter (e.g., 2.275% in September 2008) March 2009 through February 3.150% for the first month, plus an additional 2010 1/12th of 1.750% for each month thereafter (e.g., 4.025% in September 2009) March 2010 through February 4.900% for the first month, plus an additional 2011 1/12th of 1.400% for each month thereafter (e.g., 5.600% in September 2010) March 2011 through February 6.300% for the first month, plus an additional 2012 1/12th of 0.750% for each month thereafter (e.g., 6.675% in September 2011) March 2012 and thereafter 7.050%

  • Property Loss Event means any loss of or damage to property of Group or any Subsidiary thereof that results in the receipt by such Person of proceeds of insurance in excess of $2,000,000 or any taking of property of Group or any Subsidiary thereof that results in the receipt by such Person of a compensation payment in respect thereof in excess of $2,000,000.

  • Cumulative Net Loss Test With respect to any Payment Date, a test that will be satisfied if the Cumulative Net Loss Percentage does not exceed the applicable percentage indicated below: Payment Date occurring in the period Percentage March 2017 to February 2018 0.10% March 2018 to February 2019 0.20% March 2019 to February 2020 0.30% March 2020 to February 2021 0.40% March 2021 to February 2022 0.50% March 2022 to February 2023 0.60% March 2023 to February 2024 0.70% March 2024 to February 2025 0.80% March 2025 to February 2026 0.90% March 2026 to February 2027 1.00% March 2027 to February 2028 1.10% March 2028 to February 2029 1.20% March 2029 and thereafter 1.30% Current Accrual Rate: With respect to each Payment Date and any Reference Obligation, the lesser of (i) the related current Accounting Net Yield; and (ii) the related current mortgage rate thereon (as adjusted for any modifications) minus 0.35%.

  • Total Loss Proceeds means the proceeds of any insurance or any compensation or similar payment arising in respect of a Total Loss.

  • Tax Event Repayment Date means the date set out in a notice from the Issuer to the Bondholders pursuant to Clause 10.4 (Early redemption option due to a tax event).

  • from an Asset Disposition means cash payments received therefrom (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other noncash form), in each case net of:

  • Final Shared-Loss Recovery Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Excluded Asset Disposition means an Asset Disposition permitted pursuant to Section 7.05 other than Asset Dispositions pursuant to Sections 7.05(vii), (xiii), and (xv).

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Excluded Receivable means all indebtedness and other obligations owed to Originator or in which Originator has a security interest or other interest (including, without limitation, any indebtedness, obligation or interest constituting an account, chattel paper, instrument or general intangible) arising in connection with the sale of merchandise or the rendering of services by Originator and further includes, without limitation, the obligation to pay any Finance Charges with respect thereto:

  • Excess Concentration means the sum of the following amounts, without duplication:

  • Recovery Quarter has the meaning provided in Section 2.1(a)(ii) of this Commercial Shared-Loss Agreement.

  • Event of Loss Proceeds means, with respect to any proceeds from any Event of Loss, all Satellite insurance proceeds received by the Issuer or any of the Restricted Subsidiaries in connection with such Event of Loss, after

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Excluded Amount For any Payment Date on or after the occurrence of an Amortization Event, the portion of the balance with respect to each HELOC attributable to all Draws not transferred to the Trust, and the portion of the Principal Collections (other than Net Liquidation Proceeds to the extent that the Excluded Amount of Liquidation Proceeds is not included in Net Liquidation Proceeds) and Interest Collections thereon for each Collection Period allocated to such Excluded Amount based on a pro rata allocation between the related Excluded Amount and the Loan Balance in proportion to the respective amounts outstanding as of the end of the calendar month preceding such Collection Period.

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of

  • Total Required Payment means, for a Payment Date, the sum of