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.

• 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.

• The Gross Cumulative Default Ratio, as evidenced in the relevant Settlement Report, exceeds the respective Relevant Trigger.

• If the Actual Cumulative Default Ratio on the portfolio remains above 35% for a period of ninety (90) days, as measured at each month-end, the notice of termination may be provided.

• Provided that, if on any Interest Payment Date the Gross Cumulative Default Ratio exceeds 20 per cent., then the Available Principal Distribution Amount shall be applied on that Interest Payment Date in accordance with the Post-Enforcement Payment Priorities.

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 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, 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, at the respective times such Group I Student Loans enter repayment.

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, on any date of determination, the ratio (expressed as a percentage) equal to (a) the aggregate Principal Balance of all Collateral Loans in the Cumulative Financed Portfolio that are Defaulted Collateral Loans or would have become Defaulted Collateral Loans if such Collateral Loans were not sold or otherwise disposed of by the Borrower divided by (b) the original aggregate Principal Balance of all Collateral Loans in the Cumulative Financed Portfolio.

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.