Net Loss Rate means, with respect to a Collection Period, the fraction, expressed as a percentage, the numerator of which is equal to the aggregate of the Net Liquidation Losses for such Collection Period and the denominator of which is the Aggregate Principal Balance as of the first day of such Collection Period.
Net Loss Rate means, with respect to any Due Period, the product, expressed as a percentage, of (i) twelve and (ii) a fraction, the numerator of which equals the excess of (A) the sum of (1) the aggregate Principal Balance of all Receivables that became Liquidated Receivables in such Due Period and (2) accrued and unpaid interest on such Principal Balance through the end of such Due Period and (3) the amount of any Bankruptcy Losses, over (B) the Net Liquidation Proceeds received by the Trust during such Due Period with respect to all Liquidated Receivables in the Trust (including Liquidated Receivables that became Liquidated Receivables in a prior Due Period) and the denominator of which equals the arithmetic average of the Pool Balance as of the end of such Due Period and the Pool Balance as of the end of the preceding Due Period.
Net Loss Rate means, with respect to a Collection Period, the percentage derived from a fraction, the numerator of which is the aggregate of the net losses on Receivables (exclusive of the Ineligible Receivables) that were charged off during such Collection Period (i.e., gross losses less any recoveries (including recoveries from Collateral Security) received in such Collection Period in respect of charged off Receivables, whether such charge off occurred in such Collection Period or a prior Collection Period) and the denominator of which is the aggregate of the Principal Receivables (without deducting therefrom the Discount Portions) in the Trust at the beginning of such Collection Period.
Examples of Net Loss Rate in a sentence
Notwithstanding anything to the contrary herein, Included Repurchased Receivables shall be treated as Pool Receivables for purposes of each calculation of the Cumulative Net Loss Rate, and Delinquency Rate required to be made hereunder (but for no other purpose).
Notwithstanding anything to the contrary herein, Included Repurchased Receivables shall be treated as Pool Receivables for purposes of each calculation of the Annualized Default Rate, Annualized Net Loss Rate, Delinquency Rate, Pool A Annualized Net Loss Rate and the Pool B Annualized Net Loss Rate required to be made hereunder (but for no other purpose).
Each Note shall be in the form of Exhibit A and shall mature, bear interest and be payable and shall be otherwise as provided herein and therein.
In addition, the Back-up Servicer shall confirm that the Delinquency Ratio, the average Delinquency Ratio for any three Collection Periods and the Cumulative Net Loss Rate as set forth in the Monthly Servicer Report, are accurate based solely on a comparison to the computer tape referred to above.
The Trailing Net Loss Rate calculated as of the last day of each fiscal month shall not be greater than 10%.
More Definitions of Net Loss Rate
Net Loss Rate means, for any Determination Date, the quotient (expressed as a percentage) of (a) the product of (i) twelve and (ii) Net Liquidation Losses, divided by (b) the Average Principal Balance for the related Collection Period.
Net Loss Rate means, as of any Settlement Date, the percentage equivalent of a fraction, the numerator of which is the net charge-offs during the three consecutive Monthly Periods most recently ended and the denominator of which is the average of Receivables balance as of the close of business on the last day of the each of the three consecutive preceding Monthly Periods, such percent to be stated on an annualized basis.
Net Loss Rate means, in relation to a Collection Period, the percentage equivalent of a fraction, the numerator of which is equal to (a) the sum of (i) the aggregate Collateral Losses, (ii) aggregate Negative Adjustments and (iii) aggregate Principal Deficiencies, in each case for that Collection Period, less (b) the sum of (i) the aggregate Recoveries, (ii) aggregate Positive Adjustments and (iii) aggregate Vehicle Surrender Fees, in each case for that Collection Period, and the denominator is equal to (c) the BOP Receivables Balance.
Net Loss Rate means, for any Determination Date, the quotient (expressed ------------- as a percentage) of (a) the product of (i) twelve and (ii) Net Liquidation Losses, divided by (b) the Average Principal Balance for the related Collection Period.
Net Loss Rate. With respect to any Due Period, the product, expressed as a percentage, of (i) twelve and (ii) a fraction, the numerator of which equals the excess of (A) the sum of (1) the aggregate Outstanding Principal Balances of all Contracts that became Liquidated Contracts in such Due Period and (2) accrued and unpaid interest on such Outstanding Principal Balances at the related Contract Rates through the end of such Due Period and (3) the amount of any Bankruptcy Losses, over (B) the Liquidation Proceeds received by the Trust during such Due Period with respect to all Liquidated Contracts in the Trust (including Liquidated Contracts that became Liquidated Contracts in a prior Due Period) less all Liquidation Expenses incurred during such Due Period and the denominator of which equals the arithmetic average of the Pool Outstanding Principal Balance as of the end of such Due Period and the Pool Outstanding Principal Balance as of the last day of the preceding Due Period.
Net Loss Rate. For any Collection Period, the product, expressed as a percentage, of twelve multiplied by a fraction, the numerator of which is equal to (i) the sum of (a) the aggregate of the Principal Balances as of the related Record Date of all Receivables that became Liquidated Receivables during the related Collection Period and (b) the amount of any Cram Down Losses less (ii) the Liquidation Proceeds received by the Trust with respect to Receivables which became Liquidated Receivables in prior Collection Periods, and the denominator of which is equal to the average of the Aggregate Principal Balance as of the related Record Date and the Aggregate Principal Balance as of the first day of the related Collection Period.
Net Loss Rate means for any Monthly Period, the product, expressed as a percentage, of twelve multiplied by a fraction, the numerator of which is equal to (i) the aggregate Principal Balance of all Receivables that became Liquidated Receivables during such Monthly Period less (ii) the Net Liquidation Proceeds received by the Trust with respect to Receivables which became Liquidated Receivables in such Monthly Period and any prior Monthly Periods, and the denominator of which is equal to the Aggregate Principal Balance of the Receivables as of the first day of such Monthly Period.