Loss Reserve Percentage means, on any date, the product of (i) 2.25 and (ii) the highest average of the Default Ratios for any three consecutive calendar months during the twelve most recently ended calendar months and (iii)(A) the sum of (x) the aggregate billed sales made by the Originators during the four most recently ended calendar months, plus (y) an amount equal to one-third of the aggregate billed sales made by the Originators during the fifth most recently ended calendar month, divided by (B) the aggregate Net Receivables Pool Balance as of such date.
Loss Reserve Percentage means, at any time of determination, the product (expressed as a percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward) of (a) 2.25, multiplied by (b) the highest average of the Default Ratios for any three (3) consecutive Fiscal Months during the twelve (12) most recent Fiscal Months, multiplied by (c) the Loss Horizon Ratio.
Loss Reserve Percentage means, at any time, the greatest of (a) 10.0% and (b) the product of (i) the Stress Factor, (ii) the Loss Ratio at such time and (iii) the Loss Horizon Ratio at such time.
Examples of Loss Reserve Percentage in a sentence
Ketten- gehänge und Rundschlinge werden meist im Schnürgang verwendet.
When the Bank funds a Loan, the Bank as Escrow Agent shall transfer funds from the Escrow Account to the Reserve Account in an amount equaling the product of the Loss Reserve Percentage multiplied times the original principal amount of the applicable Loan.
The Borrower shall maintain loss reserves at all times during the term of this Agreement in an amount, calculated as of the close of business on the last day of each month, which shall not be less than an amount equal to the Loss Reserve Percentage multiplied by the Net Balance outstanding as of such day.
Funds in the Reserve Account shall never exceed 125% of the Loss Reserve Percentage (10%) of the outstanding Qualifying Loan portfolio.
For the avoidance of doubt, the foregoing shall not modify the definition or calculation of “Dynamic Loss Reserve Percentage” or “Loss Ratio” for any other purpose (including for purposes of Section 9.01(i) of the Amended Receivables Financing Agreement) or for any Fiscal Month other than April 2023, and the Dynamic Loss Reserve Percentage and Loss Ratio for April 2023 shall be calculated in accordance with the current definitions thereof except as expressly provided in this Section 2.
More Definitions of Loss Reserve Percentage
Loss Reserve Percentage means, at any time of determination, the product (expressed as a percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward) of (a) the Stress Factor, multiplied by (b) the highest average of the Default Ratios for any three (3) consecutive Fiscal Months during the twelve (12) most recent Fiscal Months, multiplied by (c) the Loss Horizon Ratio.
Loss Reserve Percentage means, at any time of determination, the product of (a) 2.25, times (b) the highest average of the Default Ratios for any three consecutive Fiscal Months during the twelve most recent Fiscal Months, times (c) the Loss Horizon Ratio.
Loss Reserve Percentage. “Dilution Reserve,” “Dilution Reserve Percentage” or “Termination Event”, (H) extend the “Facility Termination Date” or (I) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (I) above in a manner that would circumvent the intention of the restrictions set forth in such clauses. No failure on the part of the Purchasers, the Purchaser Agents or the Administrator to exercise, and no delay in exercising any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.
Loss Reserve Percentage means, for any Purchaser Interest on any date, an amount equal to the Stress Factor multiplied by the Loss Ratio multiplied by the Loss Horizon Ratio, where: Loss Ratio = As of the last day of any calendar month, the highest three month rolling average Loss Proxy Ratio in the most recent twelve months prior to such month. Loss Proxy Ratio = As of the last day of any calendar month, (x) the sum of (i) the Outstanding Balance of all Receivables originated by Loss Proxy Reporting Originators as to which any payment, or part thereof, remains unpaid for more than 90 but less than 121 days from the original invoice date for such payment, (ii) the Outstanding Balance of all Receivables originated by Non-Loss Proxy Reporting Originators as to which any payment, or part thereof, remains unpaid for more than 90 days from the original invoice date for such payment, and (iii) the Outstanding Balance of all Receivables that have been written off a Seller’s book as uncollectible during such month that were less than 91 days from the original invoice date, divided by (y) the aggregate sales for the calendar month occurring three months immediately prior to such month. Loss Proxy Reporting Originators = All Originators for which any Monthly Report lists the Outstanding Balance of all Receivables of such Originators as to which any payment, or part thereof, remains unpaid for more than 90 but less than 121 days from the original invoice date for such payment. Loss Horizon Ratio = As of the last day of any calendar month, (x) the aggregate amount of sales for all of the Originators for the two calendar months most recently ended, divided by (y) the Net Receivables Balance as of such day. Non-Loss Proxy Reporting Originators = All Originators other than the Loss Proxy Reporting Originators.
Loss Reserve Percentage means, for any Receivable Interest in the Pool Receivables on any date, an amount equal to the greater of:
Loss Reserve Percentage means, at any time of determination, the product of (a) the Stress Factor times (b) the highest average of the Default Ratios for any three consecutive Fiscal Months during the twelve most recent Fiscal Months, times (c) the Loss Horizon Ratio.
Loss Reserve Percentage means, on any Settlement Date (and any subsequent date until the following Settlement Date), the result of (i) the Loss Reserve Stress Factor times (ii) the highest average of the Default Ratios for any three consecutive Calculation Periods from among the twelve most recent such averages prior to such Settlement Date, multiplied by (iii) the Loss Horizon Ratio.