Cumulative Gross Default Ratio definition

Cumulative Gross Default Ratio means, with reference to each Quarterly Servicer’s Report Date, the ratio between: (a) the sum of the Outstanding Principal as at the default date of all the Receivables which have been classified as Defaulted Receivables from the Valuation Date up to the last day of the immediately preceding Quarterly Collection Period; and (b) the Collateral Portfolio Outstanding Principal as at the Valuation Date.
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Cumulative Gross Default Ratio means the ratio, as calculated on each Calculation Date, between A and B defined as follows:
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Cumulative Gross Default Ratio means, on each Collection Period End Date the ratio between: (i) the aggregate Outstanding Principal Amount of all Lease Contracts which have become Defaulted Leases between the Initial Portfolio Valuation Date and the relevant Collection Period End Date, as at the date each such Lease Contract became a Defaulted Lease, and (ii) the Outstanding Principal Amount of the Initial Portfolio as of the Initial Portfolio Valuation Date.
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Examples of Cumulative Gross Default Ratio in a sentence

  • Cumulative Gross Default Ratio: means, in respect of the last day of any Collection Period, the percentage equivalent of a fraction (A) the numerator of which is the sum of the Outstanding Principal as at the relevant Default Date of all the Claims which have become a Defaulted Claims from the Valuation Date up to the last day of the relevant Collection Period; and (B) the denominator of which is the Outstanding Principal of the Portfolio as at the Valuation Date.

  • Cumulative Gross Default Ratio Current QuarterlyPrevious Quarterly Collection Period Trigger Level Breach 0,000,00135.312.241,13135.312.241,13(a) sum of Outstanding Balance as of the Default Date of all the Claims classified into default from the Effective Date up to the Collection Date(b) Portfolio Outstanding Principal as at the Effective Date(a)/(b) Cumulative Gross Default Ratio (by amount) Collection PeriodC4.

  • Cumulative Default Ratio Current Quarterly Previous Quarterly Collection Period Trigger Level Breach(a) Outstanding Principal, as of day on which they have Defauted Receivables, of the Receivables arsing under those Loans tha have become Default Receivables during the period from the Effective Date to last day of such Quarterly Collection Period(b) Outstanding Principal, as at the Effective Date, of all the Recivables comprised in the Portfolio(a)/(b) Cumulative Gross Default Ratio Collection PeriodC4.

  • Ellerbrock, M.J., and L.A. Shabman, “Cars & Nature: A Case Study in Environmental Economics for Educational Programs,” Environmental Education Research, 1(3), 1995, 315-325.2. Fahrenthold, D.A., “Ethanol Study Has Dire Prediction for the Chesapeake,” Washington Post, 7-17-2007, B01.


More Definitions of Cumulative Gross Default Ratio

Cumulative Gross Default Ratio means at each Determination Date, the ratio between:
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Cumulative Gross Default Ratio means the cumulative Realised Loss recorded with respect to the Purchased Receivables purchased on any Purchase Date divided by the Aggregate Outstanding Principal Amount of all Purchased Receivables purchased until such date, in each case determined from the latest Quarterly Report.
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Cumulative Gross Default Ratio means, with respect to any Quarterly Static Pool, as of any Determination Date, the percentage equivalent of a fraction (a) the numerator of which is the Cumulative Gross Default Amount in respect of such Quarterly Static Pool as of such Determination Date and (b) the denominator of which is, for such Quarterly Static Pool, the aggregate Original Principal Balance of all Receivables comprising such Quarterly Static Pool.
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Cumulative Gross Default Ratio means with respect to any Payment Date, the ratio calculated as at the immediately preceding Collection Date between (i) the cumulative Outstanding Balance of all Claims comprised in the Portfolios which have become Defaulted Claims since the Effective Date (calculated on the date on which such Claims are classified as Defaulted Claims), and (ii) the Initial Principal Amount Outstanding of all Claims comprised in the Portfolios. DISEQUILIBRIUMEVENT A Disequilibrium Event shall occur with respect to a Portfolio if on any Payment Date the Single Portfolio Available Funds relating to such Portfolio are not sufficient to reduce to zero the relevant Single Portfolio Class A Notes Principal Amount Outstanding while the Single Portfolio Available Funds relating to one or both of the other Portfolios are sufficient to reduce to zero the relevant Single Portfolio Class A Notes Principal Amount Outstanding.Upon the occurrence of a Disequilibrium Event with respect to one or more Portfolios (unless a Cross Collateral Notice has been served on the Issuer), the Issuer shall be obliged to pay the relevant Principal Amortisation Reserve Amount into the relevant Principal Amortisation Reserve Account in accordance with the Pre- Acceleration Order of Priority. Such Principal Amortisation Reserve Amount shall be drawn only from the Portfolios in relation to which a Disequilibrium Event has not occurred.
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Cumulative Gross Default Ratio means, with reference to any Payment Date, the ratio between (a) the principal amount outstanding as at the default date of the Claims which have been classified as Defaulted Claims from the Effective Date up to the Collection Date immediately preceding such Payment Date, and
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Related to Cumulative Gross Default Ratio

  • Default 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 became Defaulted Receivables during such month, by (b) the aggregate credit sales made by the Originator during the month that is three calendar months before such month.

  • Cumulative Net Loss Ratio means, as of any Payment Date, the ratio (expressed as a percentage) of (i) the aggregate Principal Balance of Receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the Cut-Off Date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (ii) the Pool Balance as of the Cut-Off Date.

  • Cumulative EBITDA means, as of any date of determination, EBITDA of the Company from the Existing Notes Issue Date to the end of the Company’s most recently ended full fiscal quarter prior to such date, taken as a single accounting period.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Cumulative Net Income means, in respect of any Performance Period, the aggregate cumulative amount of the Adjusted Net Income for the calendar or other fiscal years of the Company during such Performance Period.

  • Cumulative Interest Expense means, in respect of any Restricted Payment, the sum of the aggregate amount of Consolidated Interest Expense of the Issuer and the Restricted Subsidiaries for the period from and after January 1, 2005 to the end of the Issuer’s most recently ended fiscal quarter for which internal financial statements are available and immediately preceding the proposed Restricted Payment.

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

  • Interest Coverage Ratio means, as of the end of each fiscal quarter, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for the then-most recently concluded period of four consecutive fiscal quarters.

  • Cumulative Net Losses means, as of any date of determination, the aggregate cumulative principal amount of all Receivables that have become Liquidated Receivables since the Initial Cutoff Date, net of all Net Liquidation Proceeds and Recoveries with respect to such Receivables as of last day of the most recently ended Collection Period.

  • Class C Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes and the Class C Notes. For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Cumulative Consolidated Net Income means, for any period, Consolidated Net Income for such period, taken as a single accounting period. Cumulative Consolidated Net Income may be a positive or negative amount.

  • 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.

  • Adjusted Leverage Ratio means, as of any date, the ratio of (a) Consolidated Total Funded Debt outstanding as of such date minus any Unrestricted Cash over $3,000,000 to (b) EBITDA for the period of four consecutive fiscal quarters ending on such date.

  • Debt Coverage Ratio means the ratio of Consolidated Indebtedness to Consolidated EBITDA.

  • Net Total Leverage Ratio means on any date, the ratio of (A) (i) the sum of, without duplication, (x) the aggregate principal amount of any Consolidated Debt consisting of Loan Obligations outstanding as of the last day of the Test Period most recently ended as of such date (other than Excluded Transaction Debt) and (y) the aggregate principal amount of any other Consolidated Debt of the Borrower and its Subsidiaries as of the last day of such Test Period (other than Excluded Transaction Debt) 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) 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.

  • Cash Flow Leverage Ratio means as of the last day of any calendar quarter the ratio of the Total Funded Debt as of such day to Adjusted EBITDA for the four calendar quarters then ended.

  • Class D Interest Coverage Ratio means, as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes on the following Payment Date. For the purposes of calculating the Class D Interest Coverage Ratio, the expected interest income on Collateral Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Cash Interest Coverage Ratio With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.

  • Cumulative Excess Cash Flow means the amount equal to the sum of Excess Cash Flow (but not less than zero for any Fiscal Year) for the Fiscal Year ending on December 31, 2022 and Excess Cash Flow (but not less than zero in any Fiscal Year) for each succeeding and completed Fiscal Year.

  • First Lien Leverage Ratio means the ratio, as of any date, of (a) Consolidated First Lien Debt as of the last day of the Test Period then most recently ended to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended, in each case of the Borrower and its Restricted Subsidiaries on a consolidated basis.

  • Cumulative Loss Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred from the Cut-off Date to the last day of the calendar month preceding the month in which such Distribution Date occurs and the denominator of which is the Cut-off Date Pool Principal Balance of the Mortgage Loans.

  • Consolidated Secured Leverage Ratio means, at any date, the ratio of (a) the aggregate principal amount of all Consolidated Funded Debt secured by a Lien on such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or most recently ended prior to such date.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • Cumulative Net Loss Test With respect to any Payment Date, a test that will be satisfied if the Cumulative Net Loss Percentage does not exceed the applicable percentage indicated below: Payment Date occurring in the period Percentage March 2017 to February 2018 0.10% March 2018 to February 2019 0.20% March 2019 to February 2020 0.30% March 2020 to February 2021 0.40% March 2021 to February 2022 0.50% March 2022 to February 2023 0.60% March 2023 to February 2024 0.70% March 2024 to February 2025 0.80% March 2025 to February 2026 0.90% March 2026 to February 2027 1.00% March 2027 to February 2028 1.10% March 2028 to February 2029 1.20% March 2029 and thereafter 1.30% Current Accrual Rate: With respect to each Payment Date and any Reference Obligation, the lesser of (i) the related current Accounting Net Yield; and (ii) the related current mortgage rate thereon (as adjusted for any modifications) minus 0.35%.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Debt to Cash Flow Ratio means, with respect to any Person as of any date of determination, the ratio of (a) the Consolidated Indebtedness of such Person as of such date, less cash and Cash Equivalents, to (b) the Consolidated Cash Flow of such Person for the four most recent full fiscal quarters ending immediately prior to such date for which internal financial statements are available. For purposes of making the computation referred to above: