Trigger event
From ACT Wiki
1. Borrowings documentation - credit risk.
An event defined in borrowings documentation, usually with severe adverse consequences for the borrower.
For example, a deterioration in the borrower's credit rating, entitling the lender to demand immediate repayment of the loan.
2. Derivative documentation.
Similar events defined in derivatives documentation, for example, credit default swaps.
3. Documentation.
More broadly, any event defined in documentation, which will result in another process being initiated.
For example, implementing an amendment approach to LIBOR rate transition.
