Cumulative Net Loss Trigger definition

Cumulative Net Loss Trigger means, for any Measurement Date, that the Cumulative Net Loss Ratio for such Measurement Date exceeds the level specified as the “Trigger” in the Cumulative Net Loss Rate Table for such Measurement Date.
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Cumulative Net Loss Trigger means, for any Measurement Date, that the Cumulative Net Loss Ratio for such Measurement Date exceeds the level specified as the “Trigger” in the Cumulative Net Loss Rate Table for that Measurement Date.
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Cumulative Net Loss Trigger means for a Determination Date, the Cumulative Net Loss Percentage for the Monthly Period immediately preceding such Determination Date exceeds the applicable amount below:
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Examples of Cumulative Net Loss Trigger in a sentence

  • 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).

  • Furthermore, on any Payment Date, notwithstanding that the amounts on deposit in the Reserve Account are at least equal to the Required Reserve Amount, if a Cumulative Net Loss Trigger Event has occurred, all remaining Available Funds that constitute Residual Receipts shall be deposited to the Reserve Account prior to any payments made to the Issuer.

  • Statement of Priority of Distributions After an Event of Default or the Cumulative Net Loss Trigger is Exceeded 1 Unreimbursed Servicer Advances; 2 Servicing Fee; 3 a.

  • During the continuance of an Event of Default, Lessor shall have the right to present such Letter of Credit for payment and apply such proceeds towards any amounts owed by Lessee under Section 23.B as a result of such Event of Default, provided that such application of proceeds shall not be deemed to cure such Event of Default if the amount of the Letter of Credit is less than the amount owed by Lessee under Section 23.B as a result of such Event of Default.


More Definitions of Cumulative Net Loss Trigger

Cumulative Net Loss Trigger means, for each of the Collection Periods set forth below, the Cumulative Net Loss Ratio percentage opposite such Collection Period (and measured on each of the Payment Dates following the Collection Periods specified below):
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Cumulative Net Loss Trigger means, for each of the Collection Periods set forth below, the Cumulative Net Loss Ratio percentage opposite such Collection Period (and measured on each of the Payment Dates following the Collection Periods specified below): March 2006 0.50% April 2006 0.50% July 2006 1.00% October 2006 1.75% January 2007 2.75% April 2007 3.25% July 2007 4.00% October 2007 4.25% January 2008 5.00% April 2008 5.25% July 2008 5.25% October 2008 5.50% January 2009 and each Collection Period thereafter 5.50%
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Cumulative Net Loss Trigger exists for any distribution date if as of the most recent “Measurement Date” (as set forth in the table below) the Cumulative Net Loss Ratio calculated for such “Measurement Date” exceeded the “Trigger Level” (as set forth in the table below) specified for such “Measurement Date”. For the avoidance of doubt, a Cumulative Net Loss Trigger will not exist at any time if as of the most recent “Measurement Date” the Cumulative Net Loss Ratio calculated for such “Measurement Date” is less than or equal to the stated “Trigger Level” for such date, despite the fact that a Cumulative Net Loss Trigger may previously have existed. End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]% End of [ ] Collection Period [ ]%
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Cumulative Net Loss Trigger means, for each of the Collection Periods set forth below, the Cumulative Net Loss Ratio percentage opposite such Collection Period (and measured on each of the Payment Dates following the Collection Periods specified below): May 2008 0.50 % June 2008 0.50 % September 2008 0.75 % October 2008 1.00 % December 2008 1.40 % January 2009 1.50 % February 2009 1.75 % March 2009 2.00 % May 2009 2.25 % June 2009 2.50 % August 2009 2.75 % September 2009 3.00 % November 2009 3.25 % December 2009 3.40 % January 2010 3.50 % March 2010 3.75 % June 2010 4.00 % October 2010 4.25 % June 2011 and each collection period thereafter 4.50 %
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Related to Cumulative Net Loss Trigger

  • Cumulative Loss Trigger Event With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%

  • 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 Losses means, as of any date of determination, the aggregate cumulative principal amount of all Receivables that have become Liquidated Receivables since the Initial Cutoff Date, net of all Net Liquidation Proceeds and Recoveries with respect to such Receivables as of last day of the most recently ended Collection Period.

  • Cumulative Excess Cash Flow means the sum of Excess Cash Flow (but not less than zero in any period) for the fiscal year ending on December 31, 2013 and Excess Cash Flow for each succeeding completed fiscal year.

  • Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount under this Single Family Shared-Loss Agreement and the Shared-Loss Amount under the Commercial and Other Assets Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Cumulative Net Income means, in respect of any Performance Period, the aggregate cumulative amount of the Adjusted Net Income for the calendar or other fiscal years of the Company during such Performance Period.

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • Net Monthly Excess Cash Flow For any Distribution Date the amount remaining for distribution pursuant to subsection 4.02(a)(iii) (before giving effect to distributions pursuant to such subsection).

  • Net Loss Amount means the sum of Cumulative Loss Amounts under this Single Family Shared-Loss Agreement and Aggregate Net Charge-Offs under the Commercial Shared-Loss Agreement.

  • Cumulative Retained Excess Cash Flow Amount means, at any date, an amount, not less than zero in the aggregate, determined on a cumulative basis equal to the aggregate cumulative sum of the Retained Percentage of Excess Cash Flow for all Excess Cash Flow Periods ending after the Closing Date and prior to such date.

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

  • Net Monthly Excess Cashflow With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount for such Distribution Date and (b) the excess of (x) Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (B) the Unpaid Interest Shortfall Amounts for the Class A Certificates and (C) the Principal Remittance Amount.

  • Floating Profit/Loss means current profit/loss on Open Positions calculated at the current Quotes.

  • Cumulative Shared-Loss Amount means the excess, if any, of the Cumulative Loss Amount over the First Loss Tranche.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Cumulative Interest Expense means, in respect of any Restricted Payment, the sum of the aggregate amount of Consolidated Interest Expense of the Issuer and the Restricted Subsidiaries for the period from and after January 1, 2005 to the end of the Issuer’s most recently ended fiscal quarter for which internal financial statements are available and immediately preceding the proposed Restricted Payment.

  • Ultimate Net Loss as used in this Contract shall mean the sum or sums (including loss in excess of policy limits, extra contractual obligations and loss adjustment expense, as defined herein) paid or payable by the Company in settlement of claims and in satisfaction of judgments rendered on account of such claims, after deduction of all salvage, all recoveries and all claims on inuring insurance or reinsurance, whether collectible or not. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company's ultimate net loss has been ascertained.

  • Cumulative Loss Amount means the sum of the Monthly Loss Amounts less the sum of all Recovery Amounts.

  • Prepayment Distribution Trigger With respect to any Distribution Date and any Class of Subordinate Certificates (other than the Class M-1 Certificates), a test that shall be satisfied if the fraction (expressed as a percentage) equal to the sum of the Certificate Principal Balances of such Class and each Class of Subordinate Certificates with a Lower Priority than such Class immediately prior to such Distribution Date divided by the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) immediately prior to such Distribution Date is greater than or equal to the sum of the related Initial Subordinate Class Percentages of such Classes of Subordinate Certificates.

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Cumulative EBITDA means, as of any date of determination, EBITDA of the Company from the Existing Notes Issue Date to the end of the Company’s most recently ended full fiscal quarter prior to such date, taken as a single accounting period.

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Contractor under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Cumulative Compounded RFR Rate means, in relation to a Loan (or any part of it) accruing interest at the Compounded Reference Rate, the percentage rate per annum determined by the Facility Agent in accordance with the methodology set out in Schedule 15C (Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.