Cumulative Net Loss Rate definition

Cumulative Net Loss Rate means, as of any date of determination, a rate expressed as a percentage equal to a fraction (I) the numerator of which is the Cumulative Net Losses with respect to all Receivables and (II) the denominator of which is the Original Pool Balance.

Cumulative Net Loss Rate means, with respect to any Determination Date, the fraction, expressed as a percentage, the numerator of which is equal to the sum of (a) Net Losses for such Determination Date plus (b) 50% of the Principal Balance of all Receivables with respect to which 10% or more of a Scheduled Payment has become 91 or more days delinquent (not including Receivables included under the definition of Net Losses in clause (a) above) as of the related Accounting Date and the denominator of which is equal to the Original Pool Balance.

Cumulative Net Loss Rate. Deemed Cured," "Delinquency Ratio," "Net Losses," "Spread Account Shortfall" and "Spread Account Default Level."

Examples of Cumulative Net Loss Rate in a sentence

• 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).

• There shall not occur any "Event of Default" or similar event arising out of or otherwise relating to the "Delinquency Rate", the "Cumulative Net Loss Rate" or any similar concept (as each such term is defined or concept is specified in the Insurance and Indemnity Agreement or any similar agreement relating to any securitization transaction relating to automotive receivables similar to the Contracts entered into by Originator or any of its Affiliates after the date hereof).

• Cumulative Net Loss Rate as a % of Original Principal Balance (plus 90+ day delinquencies) Cumulative Net Loss Rate - current Determination Date 1.0259242% Cumulative Net Loss Rate - preceding Determination Date 0.8240275% Cumulative Net Loss Rate - second preceding Determination Date 0.6210054% VIII.

• Cumulative Net Loss Rate as a % of Original Principal Balance Cumulative Net Loss Rate - current Determination Date 0.0886826% Cumulative Net Loss Rate - preceding Determination Date 0.0311875% Cumulative Net Loss Rate - second preceding Determination Date 0.0000000% VI.

• Cumulative Net Loss Rate as a % of Original Principal Balance Cumulative Net Loss Rate - current Determination Date 0.4576704% Cumulative Net Loss Rate - preceding Determination Date 0.2501099% Cumulative Net Loss Rate - second preceding Determination Date 0.1407809% VI.

More Definitions of Cumulative Net Loss Rate

Cumulative Net Loss Rate means, as of any Reporting Date and with respect to all Receivables of a Common Age within a Vintage Pool, a rate, expressed as a percentage equal to a fraction, (a) the numerator of which is the Cumulative Net Losses with respect to such Receivables in such Vintage Pool and (b) the denominator of which is the aggregate UPB of all Receivables in such Vintage Pool at the time of origination by the Originator or the applicable Bank Partner Originator, as applicable.

Cumulative Net Loss Rate means, as of any Reporting Date and with respect to any Vintage Pool, a rate, expressed as a percentage equal to a fraction, (I) the numerator of which is the Cumulative Net Losses with respect to all automobile receivables acquired or originated by the Originator in the related Vintage Pool and (II) the denominator of which is the aggregate principal balance of all automobile receivables acquired or originated by the Originator in the related Vintage Pool at the time of origination or acquisition by the Originator; provided that, if any sale or securitization of receivables by the Originator occurs on a servicing released basis, the Originator and the Administrative Agent shall negotiate in good faith to amend the calculation of Cumulative Net Loss Rate if such sale or securitization results in an inability to calculate the Cumulative Net Loss Rate because of lack of information upon which to make such calculation.

Cumulative Net Loss Rate means, with respect to any Determination Date and any Series (other than the Warehousing Series), the fraction, expressed as a percentage, the numerator of which is equal to the sum of (a) Net Losses for such Determination Date plus (b) with respect to Series 1994-A, Series 1994-B, Series 1994-C, Series 1994-D, Series 1995-A, Series 1995-B, Series 1995-C, Series 1995-D, Series 1996-A, Series 1996-B, Series 1996-C, Series 1996-D, Series 1997-A, Series 1997-B, Series 1997-C, Series 1997-D and Series 1998-A, 40%, and with respect to any other Series (other than the Warehousing Series), 50%, of the Principal Balance of all Receivables with respect to which all or any portion of a Scheduled Payment has become 91 or more days delinquent (not including Receivables included under the definition of Net Losses in clause (a) above) as of the related Accounting Date and the denominator of which is equal to the sum of (i) the original Aggregate Principal Balance as of the Initial Cutoff Date plus (ii) the Prefunded Amount as of the Series Closing Date.

Cumulative Net Loss Rate means, as of any date of determination following November 1, 2008, an amount (expressed as a percentage) equal to (i) the difference of (x) the aggregate Discounted Balances of all Pledged Receivables which were Eligible Receivables at the time of their Pledge hereunder and which became Defaulted Receivables at any time, minus (y) Recoveries received, divided by (ii) the Purchase Price.

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

Cumulative Net Loss Rate means, as of any date of determination and with respect to any Vintage Pool, a rate, expressed as a percentage equal to a fraction, (I) the numerator of which is the Cumulative Net Losses with respect to all automobile receivables acquired or originated by the Seller in the related Vintage Pool and (II) the denominator of which is the aggregate principal balance of all automobile receivables acquired or originated by the Seller in the related Vintage Pool at the time of origination or acquisition by the Seller; provided that, if any sale or securitization by the Seller occurs on a servicing released basis, the Servicer and the Administrative Agent shall negotiate in good faith to amend the trigger levels relating to the calculation of Cumulative Net Loss Rate if such sale or securitization results in a significant change to the composition of the remaining receivables in a Vintage Pool or the Receivables, as applicable.

Cumulative Net Loss Rate means, as of any Determination Date, the ratio, expressed as a percentage, of the aggregate amount of Net Losses with respect to the Receivables from the Cutoff Date to the last day of the related Collection Period, divided by the Original Pool Balance.