Cash Trapping Condition definition
Cash Trapping Condition means, with reference to any Payment Date, the event which occurs when the Cumulative Net Default Ratio is equal to or higher than 4%.
Cash Trapping Condition means, with reference to any Payment Date,
Cash Trapping Condition means, with reference to any Payment Date, the event which occurs when the Cumulative Gross Default Ratio is equal
More Definitions of Cash Trapping Condition
Cash Trapping Condition means, for so long as the Senior Notes are outstanding, the condition that will be deemed to be satisfied with reference to each Calculation Date if, during the relevant Collection Period, the Cumulative Net Default Ratio is lower than: