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.
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.
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:
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.
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):
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%
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 [ ]%
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 %