Cumulative Net Loss Ratio definition

Cumulative Net Loss Ratio means, as of any Payment Date, the ratio (expressed as a percentage) of (i) the aggregate Principal Balance of Receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the Cut-Off Date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (ii) the Pool Balance as of the Cut-Off Date.

Cumulative Net Loss Ratio on any Payment Date means the ratio, expressed as a percentage, of (a) the aggregate Measured Losses on the Receivables since the Cutoff Date through the last day of the related Collection Period, to (b) the Pool Balance as of the Cutoff Date.

Cumulative Net Loss Ratio means, as of any payment date, the ratio (expressed as a percentage) of (a) the aggregate principal balance of receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the cut-off date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (b) the Pool Balance as of the cut- off date.

Examples of Cumulative Net Loss Ratio 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).

• In addition to the information set forth in the preceding sentence, the Servicer's Certificate shall also contain the following information: (a) the Delinquency Ratio and the Cumulative Net Loss Ratio for such Determination Date; (b) whether any Trigger Event has occurred as of such Determination Date; and (c) whether any Trigger Event that may have occurred as of a prior Determination Date is Deemed Cured as of such Determination Date.

More Definitions of Cumulative Net Loss Ratio

Cumulative Net Loss Ratio means the ratio, expressed as a percentage, computed by dividing the Cumulative Net Losses by the Original Pool Balance.

Cumulative Net Loss Ratio means the ratio of (a) the Cumulative Reported Net Losses recognized with respect to the Contracts in the Contract Pool since the Initial Cut-Off Date over (b) the Initial Contract Pool Principal Balance.

Cumulative Net Loss Ratio on any Payment Date means the ratio, expressed as a percentage, of (a) the aggregate Measured Losses on the Receivables since their respective Cutoff Dates through the last day of the related Collection Period, 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.

Cumulative Net Loss Ratio means the percentage equivalent of a fraction, the numerator of which is the excess, if any, of the cumulative aggregate Realized Losses for each Collection Period from the Closing Date over the sum of (a) the cumulative aggregate Liquidation Proceeds for each Collection Period from the Closing Date and (b) the cumulative aggregate Recoveries for each Collection Period from the Closing Date, and the denominator of which is the Initial Pool Balance.

Cumulative Net Loss Ratio means, with respect to any Distribution Date, a fraction, expressed as a percentage, the numerator of which is an amount equal to the excess of (i) the cumulative amount of Realized Losses and Cram Down Losses from the Cutoff Date through the last day of the related Collection Period over (ii) the cumulative amount of Recoveries from the Cutoff Date through the last day of the related Collection Period and the denominator of which is the Initial Pool Balance.

Cumulative Net Loss Ratio has the meaning specified in the Insurance Agreement.

Cumulative Net Loss Ratio means for any Payment Date a fraction expressed as a percentage, the numerator of which is the aggregate Charged-Off Amount of all Purchased Receivables (including Purchased Receivables which were not received on time and Purchased Receivables remaining to be paid in the future and any Redelivery Purchased Receivables which became Charged Off Receivables after being repurchased by VWFS) less any recoveries made in relation to Charged-Off Receivables with effect from the Cut- Off Date and the denominator of which is the Aggregate Cut-Off Date Discounted Receivables Balance.