Cumulative Net Loss definition

Cumulative Net Loss means the positive difference between (i) the sum of (A) the aggregate Principal Balance of all Liquidated Receivables plus (B) aggregate Cram Down Losses minus (ii) Liquidation Proceeds received with respect to the Receivables described in clause (i).

Cumulative Net Loss means, for any Payment Date, the excess of (a) the aggregate Outstanding Principal Balance of all Receivables that became Defaulted Receivables since the Cut-Off Date over (b) aggregate Liquidation Proceeds for all Receivables that became Defaulted Receivables since the Cut-Off Date.

Cumulative Net Loss means the excess of (i) the Net Loss previously allocated to the Members, over (ii) the Net Income previously allocated to the Members (other than Net Income of the Company allocated pursuant to Section 6.2.1(a)(i) and (ii)).

Examples of Cumulative Net Loss in a sentence

• The Cumulative Net Loss Ratio on any payment date will be the ratio, expressed as a percentage, of (a) the aggregate Realized Losses on the receivables since the Cutoff Date through the last day of the related calendar month, to (b) the Pool Balance as of the Cutoff Date.

• The Cumulative Net Loss Ratio on any payment date will be the ratio, expressed as a percentage, of (a) the aggregate Realized Losses on the receivables since the[ir] [c][C]utoff [d][D]ate through the last day of the related calendar month, to (b) [the sum of (i)] the Pool Balance as of the [initial] cutoff date [and (ii) the sum of the Contract Values of all receivables purchased with amounts on deposit in the pre-funding account, each as of the related cutoff date for the related receivable].

• The Cumulative Net Loss Ratio on any payment date will be the ratio, expressed as a percentage, of (a) the aggregate Realized Losses on the receivables since their cutoff date through the last day of the related calendar month, to (b) the sum of (i) the Pool Balance as of the initial cutoff date and (ii) the sum of the Contract Values of all receivables purchased with amounts on deposit in the pre-funding account, each as of the related cutoff date for the related receivable.

• If either (a) the Event of Default is cured or (b) the Cumulative Net Loss Ratio does not exceed the Cumulative Net Loss Trigger as of the next Collection Period, payments on the following Payment Date and on subsequent Payment Dates shall be made in the priority set forth in Section 7.05(a).

• Notwithstanding anything to the contrary herein, Included Repurchased Receivables shall be treated as Pool Receivables for purposes of each calculation of the Cumulative Net Loss Rate, and Delinquency Rate required to be made hereunder (but for no other purpose).

More Definitions of Cumulative Net Loss

Cumulative Net Loss means, with respect to the last day of any Collection Period, the ratio of (a) the sum of (i) all credit losses or reserves recognized by the Borrower in accordance with GAAP and (ii) the Implicit Principal Balances (in each case, as of the date on which the Contract became a Defaulted Contract) of all Contracts that became Defaulted Contracts during the period between the Closing Date and the last day of such Collection Period, for which no loss or reserve has been recognized, to (b) the Aggregate Implicit Principal Balance of all Eligible Contracts as of their respective Funding Dates.

Cumulative Net Loss means, as of any date of determination and with respect to any Vintage Pool, the aggregate principal amount of related Curo Receivables in such Vintage Pool that have become Charged-Off Receivables or otherwise liquidated, net of all liquidation proceeds and other recoveries with respect to such Curo Receivables, during the period beginning on the applicable date of origination through the end of the ninth completed fiscal month.

Cumulative Net Loss means, as of any date of determination and with respect to any Vintage Pool, the aggregate principal amount of related Loan Receivables in such Vintage Pool that have become Charged-Off Loan Receivables or otherwise liquidated, net of all liquidation proceeds and other recoveries with respect to such Loan Receivables, during the period beginning on the applicable date of origination through the end of the twelfth (12th) completed full calendar month.

Cumulative Net Loss means, as of any date of determination and with respect to any Vintage Pool, the aggregate cumulative principal amount of automobile receivables acquired or originated by the Seller that have become Liquidated Receivables during the period beginning on the applicable date of origination or acquisition through the end of the Accrual Period immediately preceding the month in which such date of determination occurs, net of all Net Liquidation Proceeds and Recoveries with respect to such receivables as of the end of the Accrual Period immediately preceding the month in which such date of determination occurs.

Cumulative Net Loss means the excess of (i) the aggregate Net Loss allocated in all years pursuant to Section 7.2(b), over (ii) the aggregate Net Income allocated in all years pursuant to Section 7.2(a).

Cumulative Net Loss means, as of any date, the cumulative net loss of Co-Borrowers for the period commencing on January 1 of the fiscal year in which such date occurs and ending on such date, determined in accordance with GAAP minus any non-cash stock based compensation, any fair value adjustment of Co-Borrowers’ preferred stock warrants and/or service fee liabilities, and any other non-cash deductions approved in Bank’s reasonable business discretion.

Cumulative Net Loss means the amount, if any, by which the aggregate amount of Losses and other items of loss or deduction allocated to a Partner (or predecessor in interest) in the current and all prior Fiscal Years exceeds the aggregate amount of Profits and other items of income or gain allocated to such Partner (or predecessor in interest) in such period.