Cumulative Default Rate definition
Cumulative Default Rate means, as of any Distribution Date, the percentage equivalent of the fraction (a) the numerator of which is the aggregate principal balance of the Financed Student Loans which are Defaulted Student Loans as of the end of the related Collection Period, and (b) the denominator of which is the aggregate principal balance of the Financed Student Loans as of the Cutoff Date.
Cumulative Default Rate means the percentage equivalent of the fraction the numerator of which is the aggregate principal balance of the trust student loans which are defaulted trust student loans as of the end of the related Collection Period and the denominator of which is the aggregate principal balance of the trust student loans acquired by the trust on the closing date as of the cut off date.
Cumulative Default Rate means, with respect to any Determination Date, the fraction, expressed as a percentage, the numerator of which is equal to the Principal Balance of all Receivables which became Defaulted Receivables since the Initial Cutoff Date as of the related Accounting Date and the denominator of which is equal to the Original Pool Balance.
Examples of Cumulative Default Rate in a sentence
Delinquency Ratio Cumulative Default Rate Cumulative Net Loss Rate Extension Rate Monthly Period Beginning: Purchases Units Cut-off Date Closing Date Original Pool Balance Monthly Period Ending: Initial Purchase Prev.
Deutsche Bank, as Custodian, acknowledges that it will maintain possession of the related Mortgage Notes in the State of California and JPMorgan, as Custodian, acknowledges that it will maintain possession of the related Mortgage Notes in the State of Texas, unless otherwise permitted by the Rating Agencies.
Delinquency Ratio Cumulative Default Rate Cumulative Net Loss Rate {44} Cumulative Net Loss Rate before 50% of 90 Day Delinquencies ({42} + {43}) / {46} {44} Extension Rate Monthly Period Beginning: Monthly Period Ending: Purchases Units Cut-off Date Closing Date Original Pool Balance Prev.
FEES: A servicing fee of 2.25% and a surety premium of 0.25% p.a. (or such other percentage as shall be applicable under the relevant Series Transaction Documents) will be used, PROVIDED the surety premium will be increased by 0.50% if an insurance agreement event of default occurs as a result of a breach of the Cumulative Default Rate test or the Cumulative Net Loss Rate test.
More Definitions of Cumulative Default Rate
Cumulative Default Rate means, with respect to any Determination Date and any Series (other than the Warehousing Series), the fraction, expressed as a percentage, the numerator of which is equal to the sum of (a) the Principal Balance of all Receivables which became Spread Account Liquidated Receivables since the Cutoff Date as of the related Accounting Date plus (b) the Principal Balance of all Receivables with respect to which all or any portion of a Scheduled Payment has become 91 or more days delinquent as of the related Accounting Date (not including those Receivables included in clause (a) above) and the denominator of which is equal to the sum of (i) the original Aggregate Principal Balance as of the Initial Cutoff Date plus (ii) the Prefunded Amount as of the Series Closing Date.
Cumulative Default Rate means, with respect to any Determination Date, a fraction expressed as a percentage (i) the numerator of which is equal to the sum (without duplication) of (a) the aggregate of the Principal Balances of all Receivables which became Defaulted Receivables (each such Principal Balance calculated as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable) and (b) the aggregate of the Principal Balances (as of the related repurchase date) of all Receivables that became Purchased Receivables that were 31 days or more delinquent with respect to 10% or more of a Scheduled Receivable Payment (as defined in the related Securitization Agreement) at the time of such repurchase and (ii) the denominator of which is equal to the sum of the Series 2005-A Initial Balance and the aggregate Principal Balance of all Subsequent Receivables conveyed to the Series 2005-A Trust as of such Determination Date (such Principal Balance calculated as of the related Subsequent Cutoff Date).”
Cumulative Default Rate means the percentage equivalent of the fraction the numerator of which is the cumulative principal balance of the trust student loans which are defaulted trust student loans on the distribution date, and the denominator of which is the cumulative principal balance (on a loan by loan basis, the beginning principal balance of each trust student loan on the first date each loan first enters repayment status) of all trust student loans that have entered repayment status plus any prepayments on the trust student loans that have occurred prior to those trust student loans entering repayment.
Cumulative Default Rate means, as of any date of determination in respect of any Term Loan Investment Pool, a percentage, equal to a fraction, (a) the numerator of which is the Cumulative Defaults of such Investment Pool, and (b) the denominator of which is an amount equal to the aggregate original principal balance of all Borrower Receivables in such Term Loan Investment Pool, in each case, as of the last day of the most recently ended Collection Period.
Cumulative Default Rate means, as of any Quarterly Distribution Date, the percentage equivalent of the fraction (a) the numerator of which is the cumulative principal balance of the Financed Student Loans which are Defaulted Student Loans on the last day of the Collection Period related to such Quarterly Distribution Date, and (b) the denominator of which is the cumulative principal balance (on a loan by loan basis, the beginning principal balance of each Financed Student Loan on the first date each loan first enters repayment status) of all Financed Student Loans that have entered repayment status plus any prepayments on such Financed Student Loans that have occurred prior to those Financed Student Loans entering repayment.
Cumulative Default Rate means, as of any Distribution Date, the percentage equivalent of the fraction (a) the numerator of which is the cumulative principal balance of the Financed Student Loans which are Defaulted Student Loans on the last day of the Collection Period related to such Distribution Date, and (b) the denominator of which is the cumulative principal balance (on a loan by loan basis, the beginning principal balance of each Financed Student Loan on the first date each loan first enters repayment status) of all Financed Student Loans that have entered repayment status plus any prepayments on such Financed Student Loans that have occurred prior to those Financed Student Loans entering repayment.
Cumulative Default Rate means, with respect to any Series and with respect to any Determination Date, the fraction, expressed as a percentage, the numerator of which is equal to the Aggregate Principal Balance of all Receivables which became Defaulted Receivables since the Cutoff Date as of the close of business at the end of the related Collection Period and the denominator of which is equal to the sum of (a) the original Aggregate Principal Balance of all Receivables as of the Cutoff Date plus (b) the Aggregate Principal Balance of all Subsequent Receivables conveyed to such Trust (determined as of the respective Subsequent Cutoff Dates) through the last day of the related Collection Period.