Default Reserve definition

Default Reserve has the meaning set forth in Section 1.04(b)(i)(D).

Default Reserve on any day means an amount as follows: DR = (( 1 divided by 1-RP ) - 1) x PI where: DR = the Default Reserve on such day; RP = the Reserve Percentage at the close of business of Purchaser on such day, as determined pursuant to Section 1.04(b)(i)(D)(y); PI = the related Purchaser's Total Investment at the opening of business of Purchaser on such day; and

Default Reserve. On any day during a Calculation Period means an amount equal to the product of (a) the Net Pool Balance on such day, times (b) the Default Reserve Percentage for such Calculation Period.

Examples of Default Reserve in a sentence

• Default Reserve Fund" means a fund established by the authority for the purpose of securing authority loans or bonds made or issued under this chapter.[PL 2015, c.

• Proceeds gained through exercise of the indemnity rights, in accordance with said Item of the same Paragraph, shall be transferred to the Default Reserve Fund.

• However, in instances of fraud or suspected fraud or an Event of Default, Reserve Account We may fund the amount necessary immediately.

• The SPTF would be creating a default reserve fund to mitigate defaults by borrowers.• Each borrower would have to pay one quarter’s interest in advance calculated on the amount of loan sanctioned to be credited to the Default Reserve Fund at the time of disbursal of loan.

• Following any such application of amounts in the Default Reserve by Lessor, Lessee shall, within five (5) days after written notice from Lessor, deliver to Lessor funds sufficient to restore the funds on deposit in the Default Reserve to the amount of the original deposit.

More Definitions of Default Reserve

Default Reserve. Expiration Date," "Maximum Net Investment" and "Loss Percentage" in Section 1.01 of the Agreement are hereby deleted in their entirety and replaced with the following:

Default Reserve shall be determined at the end of each calendar month for the immediately succeeding calendar month and shall be a percentage equal to the following: DR = 2.00 x a x b where: DR = Default Reserve; a = The highest average of the Default Ratios for any three consecutive calendar months that occurred during the period of twelve consecutive calendar months ending on the last day of such calendar month of determination; and b = A fraction, (i) the numerator of which is equal to the aggregate Outstanding Balance of all Receivables generated during the period of the three consecutive calendar months ending on the last day of the month as of which the Default Reserve is determined (or such other period as the Administrative Agent may reasonably determine with the consent of the Seller (which consent shall not be unreasonably withheld)) and (ii) the denominator of which is equal to the Net Receivables Balance on the last day of the month as of which the Default Reserve is determined.

Default Reserve means, as of any date of determination, the product of (Ai) the aggregate Outstanding Balance of all Pool Receivables as of and (ii) the end of the Default Reserve Percentage.

Default Reserve on any day means an amount equal to the product of (a) --------------- the Default Reserve Percentage at the close of business of the Purchaser on such day, times (b) the sum of (i) the Purchaser's Investment at the opening of ----- business of the Purchaser on such day, plus (ii) the Discount Factor at the close of business of the Purchaser on such day.

Default Reserve on any day means an amount equal

Default Reserve has the meaning set out in Schedule 4. Default Reserve Floor has the meaning set out in Schedule 4. Deferred Purchase Price (DPP) means that portion of the Purchase Price of the Portfolio which is payable to the Seller on a deferred basis pursuant to the terms of this Agreement and the Spreadsheet Programme.

Default Reserve means, as of any date of determination, the product of (A) the aggregate Outstanding Balance of all Pool Receivables as of the end of the prior calendar month, (B) 2.0 and (C) the greater of (x) the Average Default Ratio, and (y) the Average Default Ratio as of the Initial Funding Date (or such other percent agreed to by the Borrower and the Structuring Advisor).