Excess Loss Amount definition

Excess Loss Amount. As to any Payment Date, any Liquidation Loss Amounts for the related Collection Period which, when added to the aggregate of such Liquidation Loss Amounts for all preceding Collection Periods, exceed $76,800,000.

Excess Loss Amount. With respect to the Group I Loans and any Payment Date, any Liquidation Loss Amount on the Group I Loans for such Payment Date that together with Liquidation Loss Amounts on the Group I Loans from prior Payment Dates exceeds an amount equal to 11.25% of the Cut-off Date Loan Balance of the Group I Loans. With respect to the Group II Loans and any Payment Date, any Liquidation Loss Amount on the Group II Loans for such Payment Date that together with Liquidation Loss Amounts on the Group II Loans from prior Payment Dates exceeds an amount equal to 11.25% of the Cut-off Date Loan Balance of the Group II Loans.

Excess Loss Amount. As of any Payment Date, the sum of the following for the related Collection Period: (i) any Special Hazard Losses in excess of the Special Hazard Amount, (ii) any Fraud Losses in excess of the Fraud Loss Amount, and (iii) any losses incurred on the Home Loans caused by or resulting from an Extraordinary Event.

Examples of Excess Loss Amount in a sentence

• If the offer price for the aggregate principal amount of Notes tendered and for the reduction of the Tranche B Loan pursuant to an Event of Loss Offer exceeds the amount of Excess Loss Amount, the Trustee shall select the Notes to be purchased on a pro rata basis in authorized denominations based on the aggregate principal amount of the Notes so tendered.

• Upon completion of any Event of Loss Offer, the amount of Excess Loss Amount shall be reset at zero.

• If at any time (before or after the Closing Date) there shall be any Excess Loss Amount as defined above, the Investor shall, if requested in writing by the Company after the Closing Date (and subject to the Closing hereunder), contribute to the capital of the Company at the request of the Company, in whole or in part, an amount up to the lesser of (i) $70,000,000 or (ii) the Excess Loss Amount (the "Investor Contribution").

• To the extent that the offer price for the aggregate amount of Notes tendered and for the reduction of the Tranche B Loan pursuant to an Event of Loss Offer is less than the Excess Loss Amount, such remaining Excess Loss Amount shall be released to the Issuers for use for any purposes, subject to any other applicable conditions and covenants in this Indenture and the Security Documents.

• The amount represented as "(y)" in the above formula is designed to represent Investor's proportional share of the Company's after-tax loss resulting from the Excess Loss Amount.

More Definitions of Excess Loss Amount

Excess Loss Amount. With respect to the Group I Loans and any Payment Date, the sum of (i) the excess, if any, of the aggregate Liquidation Loss Amounts on the Group I Loans (other than as described in clauses (ii)-(v) hereof) for the related Collection Period and all preceding Collection Periods (other than as described in clauses (ii)-(v) hereof) over the amount equal to 11.25% of the Cut-off Date Loan Balance of the Group I Loans, (ii) any Special Hazard Losses on the Group I Loans in excess of the Special Hazard Amount with respect to the Group I Loans, (iii) any Fraud Losses on the Group I Loans in excess of the Fraud Loss Amount with respect to the Group I Loans, (iv) any Bankruptcy Losses on the Group I Loans in excess of the Bankruptcy Loss Amount with respect to the Group I Loans, and (v) any losses on the Group I Loans caused by or resulting from an Extraordinary Event. With respect to the Group II Loans and any Payment Date, the sum of (i) the excess, if any, of the aggregate Liquidation Loss Amounts on the Group II Loans (other than as described in clauses (ii)-(v) hereof) for the related Collection Period and all preceding Collection Periods (other than as described in clauses (ii)-(v) hereof) over the amount equal to 11.25% of the Cut-off Date Loan Balance of the Group I Loans, (ii) any Special Hazard Losses on the Group II Loans in excess of the Special Hazard Amount with respect to the Group II Loans, (iii) any Fraud Losses on the Group II Loans in excess of the Fraud Loss Amount with respect to the Group II Loans, (iv) any Bankruptcy Losses on the Group II Loans in excess of the Bankruptcy Loss Amount with respect to the Group II Loans, and (v) any losses on the Group II Loans caused by or resulting from an Extraordinary Event.

Excess Loss Amount means the excess in respect of any Liquidated Reference Obligation for which the Accountant (as defined in the Credit Default Swap) determines that the Verified Loss Amount previously determined in respect of such Liquidated Reference Obligation was erroneously set at a higher figure than the correct amount.

Excess Loss Amount means the lesser of (a) 10% of the Stipulated Transaction Value and (b) the amount by which (x) the total remaining costs (as determined by an Acceptable Appraiser) as of the Closing Date of repairing or restoring the facilities that suffered a Casualty or Condemnation Loss to a condition reasonably comparable to their condition prior to such Casualty or Condemnation Loss after giving effect to any Available Proceeds, exceeds (y) the amount equal to 10% of the Stipulated Transaction Value.

Excess Loss Amount. On any Payment Date, the "Excess Loss Amount" will be equal to the sum of (i) any Liquidation Loss Amounts (other than as described in clauses (ii)-(iv) below) for the related Collection Period which, when added to the aggregate of such Liquidation Loss Amounts for all preceding Collection Periods exceed $104,000,792, (ii) any Special Hazard Losses in excess of the Special Hazard Amount, (iii) any Fraud Losses in excess of the Fraud Loss Amount, and (iv) any losses incurred on the Home Loans caused by or resulting from an Extraordinary Event.

Excess Loss Amount means the lesser of (i) the Sirius Net COVID Loss minus the TPRE Net COVID Loss and (ii) $100 million.

Excess Loss Amount. With respect to any Payment Date, any Liquidation Loss Amount on the Home Equity Loans for such Payment Date that together with Liquidation Loss Amounts on the Home Equity Loans from prior Payment Dates exceeds an amount equal to 12.50% of the Cut-off Date Loan Balance of the Home Equity Loans.

Excess Loss Amount. With respect to the Group II Loans and any Payment Date, any Liquidation Loss Amount on the Group II Loans for such Payment Date that together with Liquidation Loss Amounts on the Group II Loans from prior payment dates exceeds an amount equal to 11.25% of the Cut-off Date Loan Balance of the Group II Loans. If on the first Payment Date on which an Excess Loss Amount is determined to have occurred, Liquidation Loss Amounts have occurred in both Loan Group II-A and Loan Group II-B in the related Collection Period in an aggregate amount in excess of the amount of Excess Loss Amounts for that Payment Date, then the amount of such Liquidation Loss Amounts that are Excess Loss Amounts shall be apportioned between Loan Group II-A and Loan Group II-B on a pro rata basis in accordance with their respective amounts of Liquidation Loss Amounts in that Collection Period.