Cumulative Loss Rate definition

Cumulative Loss Rate means, as of any Reporting Date, a fraction, expressed as a percentage, the numerator of which is an amount equal to the excess of (i) the sum of (a) the aggregate of the Principal Balances of all Receivables that have become Liquidated Receivables (each such Principal Balance calculated as of the last day of the Due Period during which such Receivable became a Liquidated Receivable), (b) accrued and unpaid interest on such Principal Balances through the last day of the Due Period during which such Receivable became a Liquidated Receivable and (c) the amount of all Bankruptcy Losses with respect to the Receivables over (ii) the Net Liquidation Proceeds received by the Trust with respect to all Liquidated Receivables, and the denominator of which is an amount equal to the sum of the Series 1997-1 Initial Balance and the aggregate Principal Balances of Subsequent Receivables sold to the Trust through the last day of the related Due Period (which Aggregate Principal balances shall be as of the respective dates on which such Subsequent Receivables were sold to the Trust).

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Cumulative Loss Rate means, as at any date, the sum of the total Loan Losses occurred divided by the sum of the Aggregate Initial Principal Amount of the Notes (other than the Liquidity Notes) on the Issue Date.

Cumulative Loss Rate has the meaning assigned thereto in the Spread Account Agreement.

Examples of Cumulative Loss Rate in a sentence

Such tape shall be in the form and have the specifications as may be agreed to among the Servicer, the Trustee and the Seller from time to time and shall include information concerning original loan-to-value ratios, the lien positions of and number of days contractually delinquent of the Mortgage Loans and information necessary to calculate Delinquency Rate Events, Cumulative Loss Rate Events, Rolling Loss Rate Events and Targeted Overcollateralization Amounts.
Such tape shall be in the form and have the specifications as may be agreed to among the Servicer, the Trustee, the Seller and the Certificate Insurer from time to time and shall include information concerning original loan-to-value ratios, the lien positions of and number of days contractually delinquent of the Mortgage Loans and information necessary to calculate Delinquency Rate Events, Cumulative Loss Rate Events, Rolling Loss Rate Events and Targeted Overcollateralization Amounts.
Such tape shall be in the form and have the specifications as may be agreed to between the Servicer, the Trustee and the Certificate Insurer from time to time and shall include information concerning original loan-to-value ratios, the lien positions of and number of days contractually delinquent of the Mortgage Loans and information necessary to calculate Delinquency Rate Events, Cumulative Loss Rate Events, Rolling Loss Rate Events and Targeted Overcollateralization Amounts.
Such tape shall be in the form and have the specifications as may be agreed to between the Servicer, the Trustee and the Certificate Insurer from time to time and shall include information concerning original loan-to-value ratios, the lien positions of and number of days contractually delinquent of the Mortgage Loans and information necessary to calculate Delinquency Rate Events, Cumulative Loss Rate Events, Rolling Loss Rate Events and Required Coverage Amounts.
Such tape shall be in the form and have the specifications as may be agreed to between the Servicer, the Trustee, the Back-up Servicer and the Certificate Insurer from time to time and shall include information concerning original loan-to-value ratios, the lien positions of and number of days contractually delinquent of the Mortgage Loans and information necessary to calculate Delinquency Rate Events, Cumulative Loss Rate Events, Rolling Loss Rate Events and Targeted Overcollateralization Amounts.

More Definitions of Cumulative Loss Rate

Cumulative Loss Rate is hereby added to Section 1 of each of the 97-1 Agreement, the 97-2 Agreement and the 98-1 Agreement, in each case in the appropriate alphabetical order:

Cumulative Loss Rate means the amount of the Customer Loan Losses divided by the aggregate outstanding principal amount of Customer Loan Assets held by the Borrower.

Cumulative Loss Rate means, with respect to a particular Investment Pool, a fraction, the numerator of which is (i) the aggregate Outstanding Balance of all Investments within such Investment Pool that have become more than one hundred twenty (120) days delinquent at the time of calculation less (ii) any Recoveries associated with such Investments, and the denominator of which is the aggregate Original Balance of all Investments within such Investment Pool.