Cumulative Losses definition

Cumulative Losses. As to any Payment Date and the Mortgage Loans, the cumulative aggregate amount of Realized Losses on the Mortgage Loans from the Cut-off Date through the end of the calendar month immediately preceding such Payment Date.

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Cumulative Losses. As of any date of determination, the aggregate Mortgage Loan Losses for all Due Periods since the Cut-off Date.

Cumulative Losses for a specified period shall mean the aggregate Losses of the Borrower determined cumulatively during such period without regard to Pledged Recoveries.

Examples of Cumulative Losses in a sentence

• The aggregate principal amount of each Borrowing hereunder shall not (i) be less than $2,000,000, and if greater, shall be in an integral multiple of $1,000,000 and (ii) exceed the lesser of (a) Cumulative Losses incurred after the occurrence of the Loss Threshold Incurrence Date less the aggregate principal amount of all Loans previously made and (b) the aggregate Unutilized Commitments of all Banks as in effect on the date such Borrowing is made.

• In addition, upon expiration of the Investment Period, the Investment Manager shall be entitled to an amount equal to the portion of such Withheld Amounts that would have been payable if Cumulative Losses had been calculated net of cumulative realized capital gains on the applicable portfolios of investments.

• The aggregate principal amount of each Borrowing hereunder shall not (i) be less than $1,000,000, and if greater, shall be in an integral multiple of $100,000 and (ii) exceed the lesser of (a) Cumulative Losses incurred after the occurrence of the Loss Threshold Incurrence Date less the aggregate principal amount of all Loans previously made and (b) the aggregate Unutilized Commitments of all Banks as in effect on the date such Borrowing is made.

• Funding of Cumulative Losses; Forgiveness of Intercompany Loans....

• The Parties agree to use good faith to (A) discuss the causes of such Cumulative Losses Trigger Event or Cumulative Prepayments Trigger Event, as applicable, and (B) work together to modify this Agreement in a commercially reasonable manner to enable Bank to continue to retain loans under Section 2.5(a)(iii) hereof.

More Definitions of Cumulative Losses

Cumulative Losses. As defined in Section 12.6.

Cumulative Losses means cumulative losses actually realized in any one calendar year with respect to Medallion Loans from and after the time such loans became Medallion Loans, but shall not include costs, expenses or losses resulting from Hedging Arrangements.

Cumulative Losses for a specified period shall mean the aggregate Losses of MBIA determined cumulatively during such period determined without regard to Pledged Recoveries.

Cumulative Losses means, as of any date of determination, an amount equal to the difference of (i) the sum of the Contract Value at the related Purchase Date of all Purchased Contracts that (x) are more than 180 days past due as of such date or (y) LEAF, in its capacity as the Servicer, has charged off in accordance with the Policy and Procedures as of such date, over (ii) the aggregate amount received by the Servicer (net of any related expenses) in connection with the realization of the full amounts due and to become due under such Purchased Contracts and the sale of any property acquired in respect thereof.

Cumulative Losses for any Loss Incurrence Period shall mean the aggregate Losses of the Borrower determined cumulatively during such period without regard to Pledged Recoveries; provided, however, that the aggregate amount of Cumulative Losses related to (i) Insured Obligations of the type described in the definition thereof issued on behalf of health care providers of any type cannot exceed 10% of the Total Coverage Amount and Insured Obligations of the type described in the definition thereof issued on behalf of health care providers of any type which at the time of reinsurance by the Borrower (and without giving effect to any insurance or other guaranty of an Eligible Insurer) were unrated or rated lower than A- by S&P cannot exceed 3.33% of the Total Coverage Amount.

Cumulative Losses shall initially be zero. Immediately upon the commencement of each Calculation Period (including a stub period, as applicable for the Stub Period Royalty), the amount of Cumulative Losses shall be (a) increased by the amount of negative Income Before Income Taxes, if any, for the immediately preceding Calculation Period multiplied by the Royalty Percentage in effect for such period and (b) decreased by (i) the amount of positive Income Before Income Taxes, if any, for such immediately preceding Calculation Period multiplied by the Royalty Percentage in effect for such period and (ii) the amount of Cumulative Losses utilized to reduce the Exercise Price pursuant to clause (b) of the proviso to Section 6.1(a); provided that the amount of Cumulative Losses shall not be decreased below zero.

Cumulative Losses. Commitment Period", "Default", "Effective Date", "Event of Default", "Insured Obligations", "Lien", "Loan", "Loan Documents", "Majority Banks", "Maximum Commitment", "MBIA Event of Insolvency", "Note", "Participant", "Person", "Pledged Premiums" and "Pledged Recoveries" defined in the Credit Agreement are used herein with the meanings therein given, whether or not the Credit Agreement is otherwise in effect.