Cumulative Default Ratio definition

Cumulative Default Ratio means, with respect to any Payment Date, the fraction, expressed as a percentage, the numerator of which is the Cumulative Default Amount for such Payment Date and the denominator of which is the Initial Outstanding Receivables Balance.

Cumulative Default Ratio means, with reference to each Collection Period, the ratio (expressed in percentage) between (i) the Outstanding Principal, as of the day on which they have become Defaulted Claims, of the Claims arising under those Loans that have become Defaulted Claims during the period from the Effective Date to the last day of such Collection Period; and (ii) the Outstanding Principal, as of the Effective Date, of all the Claims comprised in the Portfolios.

Cumulative Default Ratio means, with reference to each Quarterly Collection Period, the ratio(expressed in percentage) between (i) the Outstanding Balance, as of the day on which they have become Defaulted Receivables, of the Receivables arising under those Loans that have become Defaulted Receivables during the period from the Subsequent Effective Date to the last day of such Quarterly Collection Period; and (ii) the Outstanding Balance, as of the Subsequent Effective Date, of all the Receivables comprised in the Portfolios.

Examples of Cumulative Default Ratio in a sentence

• Provided that, if on any Interest Payment Date the Gross Cumulative Default Ratio exceeds 15 per cent., then the Available Principal Distribution Amount shall be applied on that Interest Payment Date in accordance with the Post-Enforcement Payment Priorities.

• If the Cumulative Default Ratio is less than 12%, or if Class A and Class B Notes have been fully repaid, payment of interest on Class C Notes.

• If the Cumulative Default Ratio is lower than 15%, repayment of principal on Class B Notes, for a maximum amount equal to the Notes Formula Redemption Amount, until full repayment thereof.8Bis) If the Cumulative Default Ratio is greater or equal to 15%, repayment of principal on Class B Notes, until full repayment thereof.

• Provided that, if on any Interest Payment Date the Gross Cumulative Default Ratio exceeds 15 per cent., then the Available Principal Distribution Amount shall be applied on that Interest Payment Date in accordance with the Post-Enforcement Payments Priorities.

• If the Cumulative Default Ratio is less than 12%, or if Class A and Class B Notes have been fully repaid, payment, starting on 20 January 2007, of the provision in the Cash Reserve Account, or the account set up for payment of cancellation costs of swap contracts, or of amounts that are still due to the swap counterparty following the application of funds available at the payment date in compliance with the schedule for the allocation of funds arising from the portfolio of Notes.

More Definitions of Cumulative Default Ratio

Cumulative Default Ratio means, with respect to any Payment Date, the fraction, express as a percentage, the numerator of which is the Cumulative Default Amount for such Payment Date and the denominator of which is the Initial Outstanding Receivables Balance.

Cumulative Default Ratio means, with respect to any Record Date, a fraction, (a) the numerator of which is equal to the sum of (i) the aggregate of the Principal Balances as of the related Record Date of all Receivables which have become Defaulted Receivables, and (ii) the aggregate amount of any Cram Down Losses, and (b) the denominator of which is equal to the Cutoff Date Pool Balance.

Cumulative Default Ratio means, with respect to the Group I Student Loans only, the ratio of the aggregate principal balance of Group I Student Loans with respect to which default claims have been filed, to the aggregate principal balance of Group I Student Loans ever included as part of the Group I Student Loans.

Cumulative Default Ratio means the ratio expressed as a percentage between:

Cumulative Default Ratio means as at each Reporting Date, the ratio expressed as a percentage between: (a) the aggregate Outstanding Principal of the Defaulted Claims calculated on the immediately preceding Valuation Date (i) assuming for each Defaulted Claim the Outsanding Principal on the date on which the relevant Claim is classified as a Defaulted Claim and(ii) considering all the Defaulted Claims from the Initial Valuation Date to the Valuation Date immediately preceding such Reporting Date and (b) the Initial Portfolio Outstanding Amount.

Cumulative Default Ratio means the percentage equivalent of a fraction, the numerator of which is the aggregate principal amount of the Portfolio Loans with respect to which default claims have been filed, net of recoveries on those Portfolio Loans, and the denominator of which is the aggregate of the principal balances of all Portfolio Loans at the respective times such Portfolio Loans enter repayment.

Cumulative Default Ratio means the ratio, expressed as a percentage, computed by dividing: (a) the aggregate Principal Balance of all Receivables that have become Liquidated Receivables since the Closing Date; by (b) the Original Pool Balance.