Dilution Reserve. The "Dilution Reserve" of any Undivided Interest on any day means an amount determined in accordance with the definition of Dilution Reserve in Appendix A.
Dilution Reserve. On any date of determination, computed as of the most recent Cut-Off Date, the product of (a) the sum of (i) the product of (A) the Stress Factor times (B) the Adjusted Dilution Ratio plus (ii) the Dilution Volatility Component times (b) the Dilution Horizon Ratio.
Dilution Reserve. Dilution horizon: 1 month (****) - Stress factor (SF): 2,25 Dilution reserve (m) = [{SF * ED} + {DS — ED}*{DS/ED}] * DHR (m) Expected Dilution (ED) = average Dilution ratio within the last 12 months Dilution ratio (m) = Net Credit Notes (m) / Turnover (m-1) Net credit notes (m) = new Credit Notes issued during the relevant month, based on the reporting template filled monthly by each seller and the Refinanced Seller, excluding any Miscellaneous Accounting Credit Entries Dilution Spike (DS) = Maximum Dilution ratio within the last 12 months Dilution horizon ratio (DHR) = Turnover (m) / [Outstanding Amount of Sold Receivables as of the end of month m - Outstanding Amount of Defaulted Receivables as of the end of month m — Outstanding Amount of Net Miscellaneous Receivables as of the end of month m + Outstanding Amount of Refinanced Sold Receivables as of the end of month m - Outstanding Amount of Refinanced Defaulted Receivables as of the end of month m - Outstanding Amount of Refinanced Net Miscellaneous Receivables as of the end of month m]
Dilution Reserve. The product of (i) the sum of (A) the product of (1) 2 and (2) the Adjusted Dilution Ratio and (B) the Dilution Volatility Component and (ii) the Dilution Horizon Ratio.
Dilution Reserve. The "DILUTION RESERVE" for the related Undivided Interest on any day means an amount equal to the product of (x) the sum of the related Purchaser's Investment of such Undivided Interest at the close of business of Purchaser on such day, as determined pursuant to SECTION 1.03 and (y) the greater of (i) 2% and (ii) 1.5 times the highest Three-Month Dilutions Ratio calculated on the Month End Date for each of the six fiscal months preceding or ending on such day.
Dilution Reserve. A dilution reserve equal to the amount (if any) by which dilution for accounts receivable of the Borrower and its Subsidiaries exceeds 5%.
Dilution Reserve. At the sole discretion of Lender, a reserve in an amount equal to the outstanding principal amount of the Term Loan”
Dilution Reserve. The definition of "Dilution Reserve" in Exhibit I to the Agreement is amended and restated in its entirety to read as follows:
Dilution Reserve a reserve determined by Agent in its Permitted Discretion to the extent that the Dilution Percent exceeds 2.5%.
