Cumulative Net Loss Percentage means, for any Distribution Date, the ratio, expressed as a percentage, of (i) the aggregate Principal Balance (without regard to the proviso to the definition of “Principal Balance”) of all Defaulted Receivables as of the last day of the preceding Collection Period minus the aggregate Liquidation Proceeds received since the Cutoff Date through the last day of the preceding Collection Period to (ii) the Pool Balance as of the Cutoff Date.
Cumulative Net Loss Percentage means, with respect to each Premium Payment Date, a percentage equal to (i) the Principal Loss Amount for such Premium Payment Date and all prior Premium Payment Dates less the Principal Recovery Amount for such Premium Payment Date and all prior Premium Payment Dates; divided by (ii) the aggregate UPB of the Reference Obligations in the Reference Pool as of the Cut-off Date.
Cumulative Net Loss Percentage means, with respect to any Monthly Period, an amount equal to (a) (1) the Outstanding Receivables Balance of all Receivables that became Defaulted Receivables during such Monthly Period and any preceding Monthly Periods (at the time each such Receivable became a Defaulted Receivable), minus (2) all Recoveries during such Monthly Period and any preceding Monthly Periods, divided by (b) the Outstanding Receivables Balance as of the Cut-Off Date.
Examples of Cumulative Net Loss Percentage in a sentence
NO ---------------- (Amortization Period Only) (d) Cumulative Net Loss Percentage as of the related Collection Period ...........................................................................
NO -------------- (Amortization Period Only) (d) Cumulative Net Loss Percentage as of the related Collection Period .
NO --------------- (Amortization Period Only) (d) Cumulative Net Loss Percentage as of the related Collection Period ...............................
More Definitions of Cumulative Net Loss Percentage
Cumulative Net Loss Percentage has the meaning specified in the Indenture.
Cumulative Net Loss Percentage means, with respect to any Distribution Date and the related Collection Period, the percentage equivalent of a fraction, (i) the numerator of which is equal to the excess, if any, of (a) the aggregate Principal Balance of all Receivables that became Defaulted Receivables during such Collection Period and all prior Collection Periods (in each case as of the day that each such Receivable became a Defaulted Receivable) over (b) the aggregate Net Liquidation Proceeds and Recoveries received by the Master Servicer during such Collection Period and all prior Collection Periods and (ii) the denominator of which is the Cutoff Date Pool Balance.
Cumulative Net Loss Percentage. With respect to each Collection Period, the percentage equivalent of a fraction, the numerator of which is the excess of (x) the aggregate amount of the Contract Principal Balances of all Series 1999-1 Contracts which become Defaulted Contracts during all prior Collection Periods over (y) the aggregate amount of all Defaulted Residual Receipts collected by the Servicer with respect to such Collection Periods and the denominator of which is the Initial Aggregate Contract Principal Balance.
Cumulative Net Loss Percentage means, for any Monthly Determination Date, the quotient (expressed as a percentage) of (I) the result of (x) the aggregate Receivables Principal Balance of all Receivables (excluding Ineligible Receivables) that became Defaulted Receivables since the related Cut-off Date, plus (y) the aggregate amount by which the Receivables Principal Balance of any Receivables (other than Defaulted Receivables and Ineligible Receivables) were reduced due to being charged-off in accordance with the Credit and Collection Policy since the related Cut-off Date, minus (z) recoveries in respect of Defaulted Receivables (that were not previously Ineligible Receivables) paid as Collections since the related Cut-off Date divided by (II) the Aggregate Receivables Principal Balance of all Receivables in the Trust Estate as of the related Cut-off Date.
Cumulative Net Loss Percentage means, with respect to any Distribution Date and the related Collection Period, the percentage equivalent of a fraction, (i) the numerator of which is equal to the excess, if any, of (a) the aggregate Principal Balance of all Receivables that became Defaulted Receivables during such Collection Period and all prior Collection Periods (in each case as of the day that each such Receivable became a Defaulted Receivable) over (b) the aggregate Liquidation Proceeds and Recoveries received by the Servicer during such Collection Period and all prior Collection Periods and (ii) the denominator of which is the Pool Balance as of the Cutoff Date.
Cumulative Net Loss Percentage. Means, with respect to any Collection Period, the percentage equivalent of a fraction, (i) the numerator of which is the excess of (a) the Discounted Contract Balance (immediately prior to becoming a Defaulted Contract) of all Contracts that became Defaulted Contracts during such Collection Period and all prior Collection Periods and remain Defaulted Contracts over (b) the aggregate amount of all Recoveries collected by the Servicer with respect to such Defaulted Contracts and (ii) the denominator of which is the sum of the Discounted Contract Balances of all Contracts as of their respective Cut-Off Dates.
Cumulative Net Loss Percentage means, with respect to any Distribution Date, the fraction, expressed as a percentage, equal to the aggregate of Net Losses for all Collection Periods since the Cut-Off Date through the related Collection Period divided by the Pool Balance as of the Cut- Off Date.