Net Portfolio Yield definition
Net Portfolio Yield means for the Series 1998-1 Certificates, ------------------- with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is an amount equal to the amount of Collections of Finance Charge Receivables allocated to the Series 1998-1 Certificates for such Monthly Period, on a cash basis after subtracting an amount equal to the Investor Default Amount for such Monthly Period, and the denominator of which is the sum of the Class A Adjusted Invested Amount, the Class B Adjusted Invested Amount and the Excess Collateral Adjusted Amount as of the last day of the preceding Monthly Period.
Net Portfolio Yield means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is equal to (a) an amount equal to the product obtained by multiplying the Floating Allocation Percentage with respect to such Monthly Period and the amount of Collections of Finance Charge Receivables with respect to such Monthly Period (including any other amounts that are to be treated as Collections of Finance Charge Receivables in accordance with the Agreement), plus (b) the amount of any Principal Funding Investment Proceeds for the related Distribution Date, plus (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.14(d), are required to be deposited into the Collection Account and included in Class A Available Funds with respect to such Distribution Date, minus (d) the Investor Default Amount for the Distribution Date with respect to such Monthly Period, and the denominator of which is the Investor Amount as of the last day of the preceding Monthly Period.
Net Portfolio Yield means, with respect to any Monthly Period, the per annum rate equal to the product of (I) the percentage equivalent of a fraction, (a) the numerator of which is equal to the sum of (i) Investor Finance Charge Collections with respect to such Monthly Period, plus (ii) the Principal Funding Investment Proceeds deposited into the Collection Account on the Payment Date related to such Monthly Period, plus (iii) the amount of the Reserve Draw Amount (up to the Available Reserve Account Amount) plus any amounts of interest and earnings described in Section 4.10, each deposited into the Collection Account on the Payment Date relating to such Monthly Period, such sum to be calculated on a cash basis after subtracting the Investor Default Amount for such Monthly Period, and (b) the denominator of which is the Invested Amount as of the last day of the prior Monthly Period, multiplied by (II) twelve (12); provided, however, that Excess Finance Charge Collections that are allocated to Series 2000-C with respect to such Monthly Period may be added to the numerator if the Transferor shall have provided ten (10) Business Days prior written notice of such action to each Rating Agency and the Transferor, the Servicer and the Indenture Trustee shall have received notification in writing that such action will not result in any Rating Agency reducing or withdrawing its then existing rating of the Notes or any outstanding Series or Class with respect to which it is a Rating Agency.
Examples of Net Portfolio Yield in a sentence
Within ***** after the end of each Program Year, Bank shall pay to Virgin an amount equal to ***** of the Annual Cumulative Net Portfolio Yield for the just concluded Program Year that will be equal to ***** ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.
In the event Stage does not exercise its right to purchase the Accounts upon termination and the Net Portfolio Yield as of the termination date is equal to or greater than nine and one-half percent (9.50%), Stage and its Affiliates, licensees or franchisees shall not have the right to enter into any private label credit card program with a third party or start their own private label credit card program for a period of twenty-four (24) months following the termination date.
The Discount Rate Adjustor shall be equal to the amount by which the Net Portfolio Yield falls below or exceeds the Net Portfolio Yield Range, divided by 2, and then divided by the Accounts Receivable Turn for the prior 12 month period.
Additionally, the parties have agreed that SSI is entitled to payment of an additional [****] as payment for the [****] Monthly Net Portfolio Yield.
In the event Stage does not exercise its right to purchase the Accounts upon termination and the Net Portfolio Yield as of the termination date is less than nine and one-half percent (9.50%), Stage and its Affiliates, licensees or franchisees shall have the right to enter into any private label credit card program with a third party or start their own private label credit card program at any time after the termination date without any obligations to Bank or any other restriction or limitation by Bank.
More Definitions of Net Portfolio Yield
Net Portfolio Yield. For any Fixed Period, the difference between the Portfolio Yield for such Fixed Period and the Yield for such Fixed Period.
Net Portfolio Yield means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is equal to (a) an amount equal to the product obtained by multiplying the Floating Allocation Percentage with respect to such Monthly Period and the amount of collections of Finance Charge Receivables with respect to such Monthly Period (including any other amounts that are to be treated as Collections of Finance Charge Receivables in accordance with the Agreement) plus (b) any investment earnings on amounts on deposit in the Pre-Funding Account, plus (c) the amount of any Principal Funding Investment Proceeds for the related Distribution Date, plus (d) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to Section 4.15, are required to be included in Class A Available Funds with respect to such Distribution Date, minus (e) the Investor Default Amount for the Distribution Date with respect to such Monthly Period, and the denominator of which is the Investor Amount as of the last day of the preceding Monthly Period.
Net Portfolio Yield means, with respect to any Collection Period, the annualized percentage equivalent of a fraction, the numerator of which is the amount of Finance Charge Collections allocated to the Net Investment during the Collection Period less the sum of the Carrying Costs for all Classes for such Collection Period less the aggregate Outstanding Principal Balance of all Receivables which became Defaulted Receivables during such Collection Period and allocated to the Net Investment during the Collection Period less the Servicing Fee with respect to such Collection Period and the denominator of which is the daily average Net Investment for all Classes during such Collection Period.
Net Portfolio Yield means for the Series 1999-B Certificates, ------------------- with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is an amount equal to the amount of Collections of Finance Charge Receivables allocated to the Series 1999-B Certificates for such Monthly Period to be calculated on a cash basis after subtracting an amount equal to the Investor Default Amount for such Monthly Period, and the denominator of which is the Average Invested Amount for the Monthly Period.
Net Portfolio Yield means, with respect to any Monthly Period, the per annum rate (calculated on the basis of a 360-day year consisting of twelve (12) 30-day months) equal to the product of (I) the percentage equivalent of a fraction, (a) the numerator of which is equal to the sum of (i) Investor Finance Charge Collections with respect to such Monthly Period, plus (ii) the Principal Funding Investment Proceeds deposited into the Collection Account on the Payment Date related to such Monthly Period, plus (iii) the amount of the Reserve Draw Amount (up to the Available Reserve Account Amount) plus any amounts of interest and earnings described in Section 4.10, each deposited into the Collection Account on the Payment Date relating to such Monthly Period, such sum to be calculated on a cash basis after subtracting the Investor Default Amount for such Monthly Period, and (b) the denominator of which is the Invested Amount as of the last day of the prior Monthly Period, multiplied by (II) twelve (12); provided, however, that Excess Finance Charge Collections that are allocated to Series 2003-B with respect to such Monthly Period may be added to the numerator if the Transferor shall have provided ten (10) Business Days prior written notice of such action to each Rating Agency and the Transferor, the Servicer and the Indenture Trustee shall have received notification in writing that such action will not result in any Rating Agency reducing or withdrawing its then existing rating of the Notes of any outstanding Series or Class with respect to which it is a Rating Agency.
Net Portfolio Yield means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is an amount equal to the sum of (a) the Finance Charge Collections deposited or required to be deposited (before giving effect to any permitted netting) into the Finance Charge Account and allocable to the Investor Certificates for such Monthly Period and (b) the Principal Funding Investment Proceeds deposited or required to be deposited into the Finance Charge Account on the related Transfer Date (before giving effect to any permitted netting) related to such Monthly Period, and (c) the amount of the Reserve Draw Amount (up to the Available Reserve Account Amount) plus any amounts of interest and earnings described in Section 4.17, each deposited or required to be deposited into the Finance Charge Account on the Transfer Date (before giving effect to any permitted netting) relating to such Monthly Period, after subtracting the Investor Default Amount for such Monthly Period, and the denominator of which is the Investor Interest as of the close of business on the last day of such Monthly Period.
Net Portfolio Yield means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, (A) the numerator of which is equal to (1) Reallocated Series Finance Charge Collections with respect to such Monthly Period, plus (2) without duplication of amounts referred to in clause (1) above, the amount of Interchange to be included as Series 2004-One Allocable Finance Charge Collections for such Monthly Period pursuant to subsection 3.01(c), plus (3) any Interest Rate Cap Payments for the related Distribution Date, plus (4) any Pre-Funding Investment Proceeds, Yield Supplement Investment Proceeds and Incentive Servicing Fee Investment Proceeds, plus (5) the amount of funds, if any, to be withdrawn from the Yield Supplement Account that, pursuant to subsection 4.15(c), are required to be included in Available Funds on such Distribution Date, minus (6) the Series Default Amount for the Distribution Date with respect to such Monthly Period, and (B) the denominator of which is the Average Note Principal Balance for such Monthly Period.