Average Default Rate definition

Average Default Rate means, as of any Calculation Date, the lesser of (i) the arithmetic average of the Default Rates for the most recent three months as reported in the related Servicer's Certificates and (ii) the arithmetic average of the Default Rates for the most recent six months as reported in the related Servicer's Certificates.
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Average Default Rate means, with respect to any Reporting Date, the arithmetic average of the Default Rates for each of the three Due Periods immediately preceding the Due Period in which such Reporting Date occurs.
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Average Default Rate means, with respect to any Series and any Determination Date, the arithmetic average of the Default Rates for such Determination Date and the two immediately preceding Determination Dates.
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Examples of Average Default Rate in a sentence

  • By 10:00 a.m. (New York City time), on each Payment Date, Guarantor shall deliver to Lender an Officer's Certificate certifying as to the Average Default Rate for the related Collection Periods.


More Definitions of Average Default Rate

Average Default Rate. Average Delinquency Ratio," "Average Net Loss Rate," "Deemed Cured," "Delinquency Ratio," "Net Loss Rate," "Spread Account Shortfall" and "Spread Account Default Level."
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Average Default Rate. With respect to any Distribution Date, the arithmetic average of the Default Rates for each of the three Due Periods immediately preceding the Due Period in which such Distribution Date occurs.
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Average Default Rate. With respect to any Distribution Date, the arithmetic average of the Default Rate for such Distribution Date and the Default Rates for the two immediately preceding Distribution Dates.
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Average Default Rate means, with respect to any Distribution Date, the arithmetic average of the Default Rate for such Distribution Date and the Default Rates for the two immediately preceding Distribution Dates.
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Average Default Rate is hereby added to Section 1 of the 97-1 Agreement in the appropriate alphabetical order:
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Average Default Rate in each Residual Financing Agreement is hereby deleted in its entirety and replaced by the following definition of "Average Constant Default Rate" in each case in the appropriate alphabetical order:
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Related to Average Default Rate

  • Post-Default Rate means, (a) in respect of any principal of any Loan or any Reimbursement Obligation, the rate otherwise applicable plus an additional two percent (2.0%) per annum, and (b) with respect to any other Obligation, a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus two percent (2.0%).

  • Default Rate means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate, if any, applicable to Base Rate Loans plus (c) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, in each case to the fullest extent permitted by applicable Laws.

  • Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Note Default Interest Spread means, with respect to the outstanding principal balance of any Note, a rate per annum equal to the lesser of (i) the Maximum Legal Rate minus the Note A Rate or (ii) five percent (5%).