Default Percentage definition

Default Percentage means, for any Due Period, the percentage equivalent of a fraction the numerator of which is the sum of the outstanding principal balance of each Pledged Loan (each such principal balance determined as of the day immediately preceding the date on which such Pledged Loan became a Defaulted Loan) that became a Defaulted Loan during such Due Period, and the denominator of which is the Aggregate Loan Balance as of the last day of such Due Period.

Default Percentage means, for any Lender and at any time, the proportion (stated as a percentage) that the aggregate principal amount of Borrowings owed to it bears to the aggregate principal amount of Borrowings owed all the Lenders.

Default Percentage means, for any Monthly Period, the aggregate Outstanding Receivables Balance of all Receivables that became Defaulted Receivables during such Monthly Period, less Recoveries received during such Monthly Period, expressed as an annualized percentage of the aggregate Outstanding Receivables Balance of all Eligible Receivables as of the last day of such Monthly Period.

Examples of Default Percentage in a sentence

• Except as provided in Section 3.03(c)(2) below or if the Employer has elected an increasing Default Percentage in the Adoption Agreement, the same percentage of Compensation will be withheld as Default Elective Deferrals from all Covered Employees subject to the Default Percentage.

• If the Employer has so elected in the Adoption Agreement, a Covered Employee’s Default Percentage will increase by one percentage point each Plan Year, beginning with the second Plan Year that begins after the Default Percentage first applies to the Covered Employee.

• The amount of Default Elective Deferrals made for a Covered Employee each pay period is equal to the Default Percentage specified in the Adoption Agreement multiplied by the Covered Employee’s Compensation for that pay period.

• The amount of Default Elective Deferrals made for a Covered Employee each pay period is equal to the Default Percentage specified in the adoption agreement multiplied by the Covered Employee’s compensation for that pay period.

• If the Employer has so elected in the adoption agreement, a Covered Employee’s Default Percentage will increase by a designated percentage point or points each Plan Year up to the maximum, beginning with the second Plan Year that begins after the Default Percentage first applies to the Covered Employee.

More Definitions of Default Percentage

Default Percentage means on any Assessment Date preceding a Funded Settlement Date, the ratio expressed as a percentage of:

Default Percentage means, for any calendar month, the aggregate Outstanding Receivables Balance for all Receivables that became Defaulted Receivables during such calendar month, less Recoveries received during such calendar month, expressed as an annualized percentage of the aggregate Outstanding Receivables Balance of all Eligible Receivables as of the last day of such calendar month.

Default Percentage means on any Date of Processing a percentage, the ------------------ numerator of which shall be the Seller Percentage of the Default Amount on such day and the denominator of which shall be the Aggregate Principal Receivables at the end of the preceding Date of Processing minus the Aggregate Principal ----- Receivables on the current Date of Processing prior to the deposit of any amount in the Excess Funding Account.

Default Percentage means, as to any Bank, a fraction determined as of the termination of the Revolving Commitments following the occurrence of an Event of Default, the numerator of which equals the principal amount of all Obligations owed to such Bank on such date and the denominator of which equals the principal amount of all Obligations owed to all Banks on such date.

Default Percentage means, for any Lender and at any time, the proportion (stated as a percentage) that the Principal Debt owed to it bears to the Principal Debt owed all Lenders.

Default Percentage means for any Due Period a fraction (i) the numerator of which is the aggregate outstanding Loan Balance of all Series 2002-1 Pledged Loans which became Defaulted Loans during such Due Period and (ii) the denominator of which is the Series 0000-0 Xxxxxxxxx Loan Balance as of the last day of such Due Period.

Default Percentage means for any Payment Date, a fraction (i) the numerator of which is the sum of (x) the aggregate outstanding Loan Balance on such date of all Pledged Loans which became Defaulted Loans during the related Due Period and (y) the aggregate outstanding Loan Balance on such date of all Pledged Loans which were transferred to an Obligor pursuant to the Servicer’s owner transfer program during the related Due Period other than Defaulted Loans and (ii) the denominator of which is the Aggregate Loan Balance on such Payment Date (without giving effect to any transfers of Additional Pledged Loans to the Collateral Agent following the last day of the related Due Period).