Annualized Net Loss definition

Annualized Net Loss in Schedule A of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
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Annualized Net Loss means, for any Collection Period, the product of (i) the positive difference of (a) the aggregate Principal Balance of all Eligible Receivables that became Defaulted Receivables during such Collection Period, over (b) the Liquidation Proceeds received by the Servicer during such Collection Period, multiplied by (ii) 12.
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Annualized Net Loss means, with respect to any Origination Pool, an amount equal to the product of (i) 12 and (ii) the quotient of (A) the Cumulative Net Losses, divided by (B) the number of months elapsed since the acquisition of such Origination Pool.
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Examples of Annualized Net Loss in a sentence

  • Notwithstanding anything to the contrary herein, Included Repurchased Receivables shall be treated as Pool Receivables for purposes of each calculation of the Annualized Default Rate, Annualized Net Loss Rate, Delinquency Rate, Pool A Annualized Net Loss Rate and the Pool B Annualized Net Loss Rate required to be made hereunder (but for no other purpose).

  • As of the end of any Settlement Period, the average of the Estimated Annualized Net Loss Rates for such Settlement Period and the two immediately preceding Settlement Periods shall exceed 1.0%.

  • Notwithstanding anything to the contrary herein, Included Repurchased Receivables shall be treated as Pool Receivables for purposes of each calculation of the Annualized Default Rate, Annualized Net Loss Rate, and Delinquency Rate required to be made hereunder (but for no other purpose).

  • The occurrence of a Tier 2 Collateral Performance Trigger due to the three-month rolling average Monthly Annualized Net Loss Rate (Loans) exceeding [***]% as of the March 11, 2024 Reporting Date, and any resulting breach, Event of Default or other consequence thereof, is hereby waived and deemed not to have occurred.

  • Notwithstanding anything to the contrary herein, Included Repurchased Receivables shall be treated as Pledged Receivables for purposes of each calculation of the Annualized Default Rate, Annualized Net Loss Rate and the Delinquency Rate required to be made hereunder (but for no other purpose).

  • Notwithstanding anything to the contrary herein, Included Repurchased Receivables shall be treated as PoolPledged Receivables for purposes of each calculation of the Annualized Default Rate, Annualized Net Loss Rate, and the Delinquency Rate, Pool A Annualized Net Loss Rate and the Pool B Annualized Net Loss Rate required to be made hereunder (but for no other purpose).


More Definitions of Annualized Net Loss

Annualized Net Loss means, with respect to any Determination Date, the product of (i) the positive difference of (a) the aggregate Receivables Balance (measured, for each such Receivable, as of the date immediately prior to the date on which such Receivable became a Defaulted Receivable) of all Receivables that became Defaulted Receivables during the Collection Period immediately preceding such Determination Date, over (b) the aggregate Liquidation Proceeds received by the Servicer during the Collection Period immediately preceding such Determination Date, and (ii) twelve.
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Annualized Net Loss means, with respect to any Tranche, an amount equal to the product of (i) 12 and (ii) the quotient of (x) the Cumulative Net Losses, divided by (y) the number of months elapsed since the issuance of such Tranche. the defined term "Annualized Net Loss Ratio" in Schedule A of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
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Annualized Net Loss means, with respect to any Tranche, an amount equal to the product of (i) 12 and (ii) the quotient of (x) the Cumulative Net Losses, divided by (y) the number of months elapsed since the issuance of such Tranche.
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Annualized Net Loss means, with respect to any Tranche, an amount equal to the product of (i) the difference between (A) the aggregate principal balance of all Receivables then included in such Tranche that became Defaulted Receivables during the preceding Monthly Period and (B) any recoveries received during the preceding Monthly Period for any Defaulted Receivables then included in such Tranche, including any proceeds from disposition of the related Financed Vehicles and any amounts paid by or on behalf of the related Obligors, multiplied by (ii) 12.
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Annualized Net Loss means, as of any date of determination, the product of (i) the positive difference of (a) the aggregate Principal Balance of all Eligible Receivables that became Defaulted Receivables during the Collection Period immediately preceding such date, over (b) the Liquidation Proceeds received by the Servicer during the Collection Period immediately preceding such date, multiplied by (ii) 12; provided, that, if the determinations set forth in this definition are being made to determine the Group A-1 Required Credit Enhancement Percentage or the Group A‑2 Required Credit Enhancement Percentage on or after the Group A-1/A-2 Effective Date, in each case the determination shall be made using only the Eligible Receivables that are Group A‑1 Receivables or Group A‑2 Receivables, respectively, as of the applicable date or period.
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Related to Annualized Net Loss

  • Adjusted Net Earnings means net earnings (loss) attributable to common stockholders as reported in the Company’s periodic reports filed with the Securities and Exchange Commission, provided that such amount shall be adjusted by reversing the following, to the extent such adjustments were made in calculating such net earnings (loss) attributable to common stockholders:

  • Adjusted Net Income ’ means net income adjusted for non-cash expenses (income) such as amortization of intangible assets, deferred income taxes, and certain other expenses (income). The Company believes that Adjusted net income is useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration amortization of intangible assets, deferred income taxes, and certain other non-cash expenses (income) incurred or recognized by the Company from time to time. ‘‘Adjusted net income margin’’ refers to the percentage that Adjusted net income for any period represents as a portion of total revenue for that period.

  • Adjusted Net Earnings from Operations means, with respect to any fiscal period of the Borrower, the Borrower’s net income after provision for income taxes for such fiscal period, as determined in accordance with GAAP and reported on the Financial Statements for such period, excluding any and all of the following included in such net income: (a) gain or loss arising from the sale of any capital assets; (b) gain arising from any write-up in the book value of any asset; (c) earnings of any Person, substantially all the assets of which have been acquired by the Borrower in any manner, to the extent realized by such other Person prior to the date of acquisition; (d) earnings of any Person in which the Borrower has an ownership interest unless (and only to the extent) such earnings shall actually have been received by the Borrower in the form of cash distributions; (e) earnings of any Person to which assets of the Borrower shall have been sold, transferred or disposed of, or into which the Borrower shall have been merged, or which has been a party with the Borrower to any consolidation or other form of reorganization, prior to the date of such transaction; (f) gain arising from the acquisition of debt or equity securities of the Borrower or from cancellation or forgiveness of Debt; (g) gains or non-cash losses arising from Hedge Agreements entered into by Borrower, and (h) gain arising from extraordinary items, as determined in accordance with GAAP, or from any other non-recurring transaction.

  • Adjusted Net Assets of such Guarantor at any date shall mean the lesser of (1) the amount by which the fair value of the property of such Guarantor exceeds the total amount of liabilities, including contingent liabilities (after giving effect to all other fixed and contingent liabilities incurred or assumed on such date), but excluding liabilities under the Guarantee of such Guarantor at such date and (2) the amount by which the present fair salable value of the assets of such Guarantor at such date exceeds the amount that will be required to pay the probable liability of such Guarantor on its debts (after giving effect to all other fixed and contingent liabilities incurred or assumed on such date), excluding debt in respect of the Guarantee of such Guarantor, as they become absolute and matured.

  • Adjusted Net Worth of each Guarantor shall mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y) zero; and (iii) the “Net Worth” of each Guarantor shall mean the amount by which the fair saleable value of such Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and other liabilities (including contingent liabilities, but without giving effect to any Guaranteed Obligations arising under this Guaranty or any guaranteed obligations arising under any guaranty of any Permitted Additional Indebtedness) on such date. Notwithstanding anything to the contrary contained above, any Guarantor that is released from this Guaranty pursuant to Section 17 hereof shall thereafter have no contribution obligations, or rights, pursuant to this Section 18, and at the time of any such release, if the released Guarantor had an Aggregate Excess Amount or an Aggregate Deficit Amount, same shall be deemed reduced to $0, and the contribution rights and obligations of the remaining Guarantors shall be recalculated on the respective date of release (as otherwise provided above) based on the payments made hereunder by the remaining Guarantors. All parties hereto recognize and agree that, except for any right of contribution arising pursuant to this Section 18, each Guarantor who makes any payment in respect of the Guaranteed Obligations shall have no right of contribution or subrogation against any other Guarantor in respect of such payment until the Termination Date. Each of the Guarantors recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive its contribution right against any Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders.