Mechanics
Trigger
status: draft
A performance, collateral, or party test that changes deal behavior when breached.
What to watch
Know the remedy for each trigger: cash trap, draw stop, sequential pay, amortization, servicer replacement, or default escalation.
Referenced in 188 topics
ABF as an asset class for portfolio construction playbooks Account control agreements documentation Accounts and cash management mechanics Administration agreement documentation Advance rates and the borrowing base mechanics Advanced waterfall mechanics mechanics Amendments and waivers lifecycle-events Amortization and repayment mechanics Auto loans and leases asset-classes Back leverage (provider perspective) capital-sources Back leverage and fund financing playbooks Backup servicers counterparties Bank regulatory considerations legal Borrowing base mechanics mechanics Broadly syndicated loan CLOs asset-classes Building relationships while negotiating playbooks Building your ABF pitch playbooks Calculation agents and data agents counterparties Careers at banks playbooks Cash flow modeling accounting-valuation Cash operations and waterfall execution operations-lifecycle Catastrophe bonds asset-classes Catastrophe modeling asset-classes CECL and accounting considerations accounting-valuation Cell tower and data center ABS (digital infrastructure) asset-classes Choosing the right structure playbooks Climate risk and emerging perils asset-classes CMBS (conduit, SASB, large loan) asset-classes Collateral analysis accounting-valuation Collateralized loan obligations (CLOs) structures Collateralized reinsurance, ILWs, and sidecars asset-classes Common mistakes and how to avoid them playbooks Common negotiation mistakes playbooks Conduit and ABCP programs structures Consumer protection regulations legal Container leases asset-classes Covenant compliance monitoring operations-lifecycle Covenant cures and waivers mechanics Covenants mechanics CRE CLOs asset-classes Credit agreement and indenture documentation Credit analysis accounting-valuation Credit card receivables asset-classes Credit funds and private capital capital-sources Credit-linked notes / synthetic securitizations structures Deal autopsy: why deals fail playbooks Deal structures asset-classes Deal timeline matrix appendix Development finance institutions capital-sources Diligence guide asset-classes Diligence guide asset-classes Distressed market playbook market-landscape Document coordination documentation Documentation negotiation playbooks Entity types and tax considerations legal Entity-level triggers mechanics ESG and green ILS asset-classes EU/UK securitization regulations legal Evaluating a credit fund's ABF strategy playbooks Evaluating portfolio quality and performance playbooks Executing a workout playbooks Financing progression roadmap playbooks Finding service providers market-landscape Finding the right capital partner playbooks Forward flow agreements structures Fund investor reporting for ABF operations-lifecycle Fund operations infrastructure for ABF operations-lifecycle GAAP vs IFRS accounting comparison accounting-valuation Healthcare receivables asset-classes Home equity and helocs asset-classes How ABF works (5-minute overview) foundations ILS diligence guide asset-classes Infrastructure debt asset-classes Insurance-linked securities asset-classes Investor and SEC reporting operations-lifecycle Investor portals and integration operations-lifecycle Key participants asset-classes Legal opinions and third-party reports documentation Managing multiple facilities playbooks Mark-to-model practices accounting-valuation Marketplace lending and fintech-originated asset-classes Middle market CLOs asset-classes Multi-party negotiation dynamics playbooks Music royalties and content IP asset-classes NAIC designations and regulatory framework capital-sources NAIC filing and designation deep dive legal Navigating the deal process playbooks Negative and affirmative covenants mechanics Non-QM lending asset-classes Offering and disclosure documents documentation Offering document preparation documentation Ongoing portfolio management operations-lifecycle Ongoing portfolio management (capital provider) playbooks Participation structures structures Performance metrics accounting-valuation Performance reporting operations-lifecycle Performance triggers mechanics Pharma royalties asset-classes Portfolio covenants mechanics Portfolio monitoring for ABF funds operations-lifecycle Portfolio surveillance operations-lifecycle Portfolio valuation accounting-valuation Premium finance asset-classes Pricing and relative value accounting-valuation Pricing disclaimer appendix Pricing negotiation playbooks Private placement / bespoke structures structures Private placement memorandum (PPM) documentation Protecting your position in distress playbooks Public markets and retail access capital-sources Questions to ask your legal team playbooks Rail cars and rolling stock asset-classes Rated note feeders structures Rating agencies counterparties Rating agency engagement for funds playbooks Reading the credit cycle market-landscape Recognizing distress early playbooks Regulatory and compliance legal Reps, warranties, and enforcement documentation Revenue-based financing asset-classes Revolving, prefunding, and reinvestment mechanics Risk factors documentation Risk retention rules legal Sale and contribution agreement documentation Sample term sheet (annotated) appendix Sample waterfall appendix SEC-registered prospectus documentation Secondary market and liquidity market-landscape Secondary market trading asset-classes Security and compliance operations-lifecycle Selecting a fund administrator playbooks Selecting and working with trustees playbooks Servicer ratings and evaluation counterparties Servicer responsibilities counterparties Servicer selection asset-classes Servicer selection and oversight playbooks Servicer termination and transition counterparties Servicers and backup servicers counterparties Servicing agreement documentation Servicing covenants mechanics Servicing operations operations-lifecycle Shipping and maritime finance asset-classes Single-family rental (SFR) asset-classes Small business loans (including SBA 7(a)) asset-classes Sourcing ABF deals playbooks Sourcing capital for ABF funds playbooks SPVs and bankruptcy remoteness legal State licensing requirements legal State tax considerations legal Static pool analysis accounting-valuation Stratification analysis accounting-valuation Structural terms negotiation playbooks Structural tests (OC/IC) mechanics Structuring deals for investor appeal playbooks Structuring for tax-exempt investors legal Subscription finance / capital call lines structures Tax classifications explained legal Tax considerations for ABF structures legal Tax liens asset-classes Term securitization (ABS/MBS) structures Term sheet anatomy documentation The originator's readiness assessment playbooks The waterfall mechanics Top capital provider mistakes playbooks Top deal process mistakes playbooks Top originator mistakes playbooks Transaction agreements documentation Transitioning between capital providers playbooks Treasury management for multi-facility originators playbooks Trigger negotiation strategies mechanics Trigger remediation strategies mechanics Trigger types asset-classes Triggers, tests, and performance events mechanics True sale and perfection legal Trustees counterparties Understanding back leverage (LP perspective) playbooks Upsizing and facility expansion lifecycle-events Valuation approaches asset-classes Valuation methodologies accounting-valuation Waiver, amendment, or acceleration playbooks Warehouse facilities structures What capital providers care about playbooks What is negotiable by structure type playbooks When things go wrong playbooks Whole business securitization asset-classes Whole loan sales structures Wind-down lifecycle-events Workouts, restructuring, and enforcement lifecycle-events