Dilution Reserve Ratio definition

Dilution Reserve Ratio means, as of any date, an amount calculated as follows: DRR = [(2.25 x ADR) + [(HDR-ADR) x (HDR/ADR)]] x DHR where: DRR = the Dilution Reserve Ratio; ADR = the average of the Dilution Ratios for the past twelve Collection Periods; HDR = the highest average of the Dilution Ratios for any three consecutive Collection Periods during the most recent twelve months; and DHR = the Dilution Horizon Ratio. The Dilution Reserve Ratio shall be calculated monthly in each Monthly Report and such Dilution Reserve Ratio shall, absent manifest error, be effective from the corresponding Monthly Settlement Date until the next succeeding Monthly Settlement Date.

Dilution Reserve Ratio for any Calculation Period means the product of (a) the sum of (i) the product of the Dilution Stress Factor multiplied by the 12 month average Dilution Ratio, plus (ii) the Dilution Volatility Ratio multiplied by (b) the Dilution Horizon Ratio.

Dilution Reserve Ratio means, as of any date of determination, the highest Dilution Trigger Ratio occurring during the twelve most recent Settlement Periods preceding such date.

Examples of Dilution Reserve Ratio in a sentence

• At any time other than during an Exception Funding Period, the sum of (i) the Net Pool Balance on such date of calculation multiplied by the greater of (a) the sum of the Loss Reserve Ratio on such date of calculation and the Dilution Reserve Ratio on such date of calculation; and (b) the Minimum Reserve Ratio on such date of calculation; (ii) the Yield Reserve on such date of calculation; and (iii) the Servicing Fee Reserve on such date of calculation (such sum, the “Standard Reserves”).

• By way of example, the "ADR" referred to in the definition of Dilution Reserve Ratio shall be calculated for purposes of periods prior to the Closing Date even though the definition of Dilution Ratio refers to a calculation in a Monthly Report.

• DRR = [(SF x ED) + [(DS-ED) x (DS/ED)]] x DHR where: DRR = Dilution Reserve Ratio; SF = the Stress Factor;ED = the Expected Dilution; DS = the “Dilution Spike”, defined as the highest one-month rolling average Dilution Ratio that occurred during the period of twelve consecutive Calculation Periods ending immediately prior to such earlier Monthly Reporting Date; and DHR = the Dilution Horizon Ratio.

• On each Determination Date, the Master Servicer shall deliver to the Agent, the VFC Certificateholders, the Trustee and the Rating Agency a Monthly Settlement Statement substantially in the form attached hereto as Exhibit E-1 setting forth, among other things, the Loss Reserve Ratio, the Dilution Reserve Ratio, the Carrying Cost Reserve Ratio and the Servicing Reserve Ratio, each as recalculated for the next succeeding Settlement Period.

• On each Determination Date, the Master Servicer shall deliver to the Enhancement Provider, the Trustee and each Rating Agency a Monthly Settlement Statement substantially in the form attached hereto as Exhibit E-1 setting forth, among other things, the Loss Reserve Ratio, the Dilution Reserve Ratio, the Carrying Cost Reserve Ratio and the Servicing Reserve Ratio, each as recalculated for the next succeeding Settlement Period.

More Definitions of Dilution Reserve Ratio

Dilution Reserve Ratio means, for any Settlement Period, the product (expressed as a percentage) of: (a) the sum of (i) 2.50 times the Adjusted Dilution Ratio as of the last day of the immediately preceding Settlement Period, plus (ii) the Dilution Volatility Component as of the last day of the immediately preceding Settlement Period, times (b) the Dilution Horizon Ratio as of the last day of the immediately preceding Settlement Period.

Dilution Reserve Ratio means, as of any date of determination, the ratio (expressed as a percentage) equal to the sum of (i) two times the average of the Dilution Ratios as of the last day of each of the three Settlement Periods immediately preceding such date, plus (ii) 5%.

Dilution Reserve Ratio means, as of any Monthly Reporting Date and continuing to (but excluding) the next succeeding Monthly Reporting Date, a percentage, determined as of the last day of the immediately preceding Monthly Period, as follows: DRR = [(SF x EDR) + [(DS-EDR) x (DS/EDR)]] x DHR where: SF = the Stress Factor; DRR = the Dilution Reserve Ratio; EDR = the Expected Dilution Ratio; DS = the Dilution Spike; and DHR = the Dilution Horizon Ratio.

Dilution Reserve Ratio means as of any date of determination:

Dilution Reserve Ratio means, as of any Monthly Reporting Date, and continuing until (but not including) the next Monthly Reporting Date, an amount (expressed as a percentage) that is calculated as follows:

Dilution Reserve Ratio. “Yield Reserve Ratio,” “Servicing Reserve Ratio,” “Servicing Fee Percentage,” “Required Reserves Ratio” or “Required Reserve Factor Floor,” or amend or modify any defined term used directly or indirectly in such defined term), the consent of any remaining Funding Agent cannot unreasonably be withheld or delayed.

Dilution Reserve Ratio. For any Monthly Period, the sum of (a) the product of (i) the Stress Factor and (ii) the Expected Dilution Ratio and (b) the product of (i) the excess, if any, of the Dilution Spike over the Expected Dilution Ratio, (ii) the Dilution Spike divided by the Expected Dilution Ratio multiplied by (c) the Dilution Horizon Ratio, in each case, for such Monthly Period.