Aggregate Loss definition

Aggregate Loss means, with respect to any Monthly Period, the -------------- amount equal to the Principal Balance of each Receivable that became a Defaulted Receivable during such Monthly Period immediately prior to such Receivable becoming a Defaulted Receivable.
View Source
Aggregate Loss means, at any given time, the total of all Insurance Benefits paid by the Company under this Policy, including: (a) any partial Insurance Benefit advanced by the Company pursuant to Section 7.1 (Loss Mitigation); (b) any other partial Insurance Benefit paid by the Company; and (c) any Insurance Benefit charged to the Deductible Amount of this Policy, reduced by any net recoveries received by the Company with respect to any Covered Loan or the related Property or Borrower, including but not limited to recoveries pursuant to Section 7.2(f) (Borrower Contributions) and Section 9.1 (Subrogation). If the Company acquires the Property pursuant to Section 8.5(b) (Disapproved REO Sales), the amount of the Insurance Benefit that will be included in the Aggregate Loss for the related Covered Loan shall equal: (x) the Claim Amount calculated pursuant to Section 8.4(b) (Property Acquisition Calculation); multiplied by (y) the applicable Loan Coverage Percentage; multiplied by (z) the Property Acquisition Aggregate Loss Limit Adjustment Percentage. Under no circumstances will any interest or Penalty Interest paid on the Insurance Benefit pursuant to Section 8.9 (Failure to Timely Pay Insurance Benefit) be included in the Aggregate Loss.
View Source
Aggregate Loss means, at any given time, the total of (a) all Losses, including advance payments of Loss and partial payments of Loss with respect to a Default paid by the Company and (b) the Deductible Loss charged to the Deductible Amount under this Policy, reduced by (1) the net proceeds received by the Company upon disposal of all Loans (if the Loan is acquired by the Company in settlement of a Claim) and Properties, and also reduced by (2) any other net recoveries made in its sole discretion by the Company, including recoveries made by exercise of subrogation rights, with respect to any Loan or the related Property or Borrower. For purposes hereof, the term “net proceeds” shall consist of the sale price received by the Company, reduced by any expenses, payments or costs incurred by the Company in the ownership, maintenance and disposition of a Loan or a Property, including all expenses of the type which would have been includable in a Claim for Loss, interest paid by the Company on borrowings for the acquisition and ownership of the Loan or the Property (not to exceed the interest payable at the interest rate due on the Loan which would have been includable in the Claim), brokerage commissions, title insurance expenses, recording fees, and other costs and expenses of closing the sale of the Loan or the Property; and expenses regarding the physical condition of the Property in order to make it ready for sale.
View Source

Examples of Aggregate Loss in a sentence

  • Any payment made hereunder shall be made promptly following delivery of the Prior Year Aggregate Loss Statement and, in any event, within twenty (20) days thereof, in cash, by wire transfer of immediately available funds, to an account specified by the receiving Party in writing and the paying Party shall send a payment confirmation to the receiving Party by fax or e-mail.

  • Aggregate Loss Reserves as of June 30, 2002 are set forth on Exhibit A-2.

  • On March 1, 2019, Indemnitee shall deliver to Indemnitor the Initial Prior Year Aggregate Loss Statement.

  • Aggregate Loss Reserves as of June 30, 2002 are set forth on Exhibit A-1.

  • Such recalculation will be set forth in the applicable Prior Year Aggregate Loss Statement.

  • On March 1, 2019, the Claim Manager shall deliver to Payor the Initial Prior Year Aggregate Loss Statement, the Ex-US Bendix Report and an Environmental Report, in each case, in respect of the Initial Period.

  • The aggregate annual payment under this Section 2.4(a) shall first be allocated to satisfy the Aggregate Annual Obligation, and then to satisfy the Cumulative Outstanding GARE Losses (the amount of any payment made in respect of the Cumulative Outstanding GARE Losses, a “GARE Payment”), and in respect of any calendar year the amounts of such allocations shall be included in the Prior Year Aggregate Loss Statement delivered in the following year under Section 2.2(e).

  • Subject to the exhaustion of the Deductible Amount and the Aggregate Loss Limit contained in Condition 7F below, in lieu of paying the loss determined by the computation in Condition 7C above, the Company may, at its option, pay the Insured the total of the amounts under clauses (1), (2) and (3) of Condition 7C above.

  • Total Initial Principal Balances: $805,846,324.97 Aggregate Loss Percentage: 7.50%.

  • If, in such case, the existing coverage is maintained, the amount of such Claim advance will be added to the Aggregate Loss, if applicable, and subtracted from any future Insurance Benefit with respect to such Covered Loan.


More Definitions of Aggregate Loss

Aggregate Loss. (in relation to a Vehicle or otherwise) shall mean: (a) damages where the estimated costs of repair are such that the Vehicle is, in the sole and absolute discretion of Rolling, uneconomical to repair in relation to the value of the Vehicle and condition of the Vehicle, as at the date that the damage occurred; or (b) if the Vehicle is stolen and/or lost, the amount of the Aggregate Loss will be the retail value as reflected in the TransUnion ▇▇▇▇ and McGrouther Auto Dealers Guide or if not reflected therein for whatsoever reason, the new list price of the Vehicle, as supplied by the manufacturer, as at the date of loss, less salvage, if any;
View Source
Aggregate Loss means, with respect to any period, the aggregate amount of all GMAC Losses during such period.
View Source
Aggregate Loss as used herein shall mean the Reinsured's actual gross losses, as accounted for by the Reinsured during the Term, on business included in their International Property Whole Account, including outstanding loss reserves settlement expenses and acquisition costs. The Reinsured may also include any reinstatement premiums and/or loss related additional premiums, payable under the Reinsured's original contracts of reinsurance in its Aggregate Loss claims hereunder, together with a sum equivalent to any amount under such original contracts of reinsurance which, but for the loss under consideration, would have been returned to the original reinsured by way of a no claims bonus, profit commission, or similar contractual provision. The Retrocedent may also include in its Aggregate Loss claims hereunder losses arising from Catastrophe linked Securities including but not limited to so-called "Acts of God" Bonds.
View Source

Related to Aggregate Loss

  • Aggregate Net Losses means, with respect to a Collection Period, an amount equal to the aggregate Principal Balance of all Receivables that became Defaulted Receivables during such Collection Period minus all Net Liquidation Proceeds collected during such Collection Period with respect to all Defaulted Receivables.

  • Aggregate Amount means the aggregate amount by which the resolution authority has assessed that eligible liabilities are to be written down or converted, in accordance with Article 46(1);

  • Aggregate Limit shall have the meaning assigned to such term in Section 1.1 hereof.

  • Cumulative Loss Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred from the Cut-off Date to the last day of the calendar month preceding the month in which such Distribution Date occurs and the denominator of which is the Cut-off Date Pool Principal Balance of the Mortgage Loans.

  • Funding Loss means the amount (which shall be payable on demand by Lender) necessary to promptly compensate Lender for, and hold it harmless from, any loss, cost or expense incurred by Lender as a result of: