Average Delinquency Ratio Test definition

Average Delinquency Ratio Test for the Payment Date occurring in, or following, a month specified below will be met if the Average Delinquency Ratio for such Payment Date is less than the percentage specified opposite such Payment Date: November 2016 1.75 % May 2017 2.50 % November 2017 3.00 % May 2018 3.50 %
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Average Delinquency Ratio Test means, for a Payment Date occurring in a month specified in the table below, a test that will be met if the Average Delinquency Ratio for such Payment Date is less than the percentage specified opposite such Payment Date:
Sample 1Sample 2
Average Delinquency Ratio Test for the Payment Date occurring in, or following, a month specified below will be met if the Average Delinquency Ratio for such Payment Date is less than the percentage specified opposite such Payment Date: [Month] 20XX % [Month] 20XX % [Month] 20XX % [Month] 20XX %
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Examples of Average Delinquency Ratio Test in a sentence

  • Average Delinquency Ratio · Average Delinquency Ratio Test is met on such Payment Date Yes No B.


More Definitions of Average Delinquency Ratio Test

Average Delinquency Ratio Test for the Payment Date in a month specified below will be met if the Average Delinquency Ratio for such Payment Date is less than the percentage specified opposite such Payment Date: [Month] 200X % [Month] 200X % [Month] 200X %
Sample 1
Average Delinquency Ratio Test for the Payment Date occurring in a month specified below will be met if the Average Delinquency Ratio for such payment date is less than the percentage specified opposite such payment date: April 2009 3.50 % October 2009 4.50 % “Delinquency Ratio” for any Collection Period means the ratio, expressed as a percentage of (a) the aggregate amount of all Scheduled Payments in respect of Receivables that are 60 days or more past due (other than Purchased Receivables and Liquidated Receivables) as of the end of such Collection Period, determined in accordance with the Servicer’s normal practices and procedures, to (b) the Pool Balance as of the last day of such Collection Period.
Sample 1
Average Delinquency Ratio Test for the Payment Date occurring in, or following, a month specified below will be met if the Average Delinquency Ratio for such Payment Date is less than the percentage specified opposite such Payment Date: June 2009 1.75 % December 2009 2.50 % June 2010 3.00 % December 2010 3.50 %
Sample 1
Average Delinquency Ratio Test for the Payment Date occurring in, or following, a month specified below will be met if the Average Delinquency Ratio for such Payment Date is less than the percentage specified opposite such Payment Date: March 2009 1.75% September 2009 2.50% March 2010 3.00% September 2010 3.50%
Sample 1
Average Delinquency Ratio Test means, for the payment dates specified in the table below, a test that will be met if the Average Delinquency Ratio for such payment date is less than the percentage specified opposite such payment date:
Sample 1

Related to Average Delinquency Ratio Test

  • Average Delinquency Ratio on any Payment Date means the average of the Delinquency Ratios for the preceding three calendar months.

  • Delinquency Ratio means the ratio (expressed as a percentage and rounded to the nearest 1/100 of 1%, with 5/1000th of 1% rounded upward) computed as of the last day of each calendar month by dividing: (a) the aggregate Outstanding Balance of all Pool Receivables that were Delinquent Receivables on such day by (b) the aggregate Outstanding Balance of all Pool Receivables on such day.

  • Rolling Three Month Delinquency Rate With respect to any Distribution Date, the fraction, expressed as a percentage, equal to the average of the Delinquency Rates for each of the three (or one and two, in the case of the first and second Distribution Dates, respectively) immediately preceding calendar months.

  • Delinquency Rate With respect to any calendar month, the fraction, expressed as a percentage, the numerator of which is the aggregate outstanding principal balance of all Mortgage Loans 60 days Delinquent or more (including all foreclosures, bankruptcies and REO Properties) as of the close of business on the last day of such month, and the denominator of which is the Pool Balance as of the close of business on the last day of such month.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Sixty-Day Delinquency Rate As to any Payment Date, the percentage equivalent of a fraction, the numerator of which is the aggregate Principal Balance of (a) Mortgage Loans that are 60 or more days delinquent, (b) Mortgage Loans that are 60 or more days delinquent and in bankruptcy or foreclosure and (c) all REO Property, in each case, as of the last day of the preceding month, and the denominator of which is the Pool Balance as of the last day of the related Due Period.

  • Delinquency Test means, for any Payment Date, a test that will be satisfied if:

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Weighted Average Net Mortgage Rate With respect to any Distribution Date, the weighted average of the applicable Net Mortgage Rates of the Mortgage Loans as of the first day of the related Due Period, weighted on the basis of their respective Stated Principal Balances as of the first day of such Due Period (after giving effect to any payments received during any applicable grace period).

  • Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Weighted Average Adjusted Net Mortgage Rate For any Distribution Date and Loan Group, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).

  • Adjusted Leverage Ratio means, on any date of determination, the ratio of (i) Adjusted Liabilities to (ii) Tangible Net Worth.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Net Total Leverage Ratio means, on any date, the ratio of (A) (i) without duplication, the aggregate principal amount of any Consolidated Debt of the Borrower and its Subsidiaries outstanding as of the last day of the Test Period most recently ended as of such date less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) Adjusted EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.

  • DSCR means debt service coverage ratio.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Cash Flow Available for Debt Service for any period, means (i) Cash Flow received during such period minus (ii) (A) all O&M Costs paid during such period and (B) if an Equity Cure has been made in any fiscal quarter during the period for which Cash Flow Available for Debt Service is calculated, the lesser of the aggregate amount of (x) such Equity Cure during such period and (y) the aggregate amount of cash distributions paid by the Company during such period.

  • Weighted Average Spread means, with respect to Floating Rate Obligations (in each case excluding Defaulted Loans), as of any date, the number obtained by:

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of the Collateral Loans as of such date is less than or equal to seven (7.0) years.

  • Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.