Recourse Percentage definition

Recourse Percentage. With respect to each Purchased Asset, twenty-five percent (25%); provided, that notwithstanding the foregoing, if the Confirmation for any such Purchased Asset specifies a higher percentage as the “Recourse Percentage” for such Purchased Asset, the Recourse Percentage for such Purchased Asset shall be such higher percentage so specified in such Confirmation.

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Recourse Percentage. Defined in the Fee Letter, which definition is incorporated herein by reference.

Recourse Percentage means the greater of (i) 16% and (ii) three times the highest Default Ratio that has occurred during the preceding 12 successive months.

Examples of Recourse Percentage in a sentence

• If on any day on or after the Facility Termination Date the Outstanding Balance of a Receivable is charged-off as uncollectible, the Seller shall be deemed to have received on the following Business Day a Collection of such Receivable; provided, however, that the aggregate amount of Collections the Seller shall be deemed to have received under this Section 1.8(b) shall not exceed the Loss -------------- Recourse Percentage of the aggregate Capital outstanding on the Facility Termination Date.

• The "Loss Reserve" for each Undivided Interest, at any time (i) prior to the occurrence of a Termination Event, zero, and (ii) after the occurrence and during the continuance of a Termination Event, an amount determined as follows: LR = RP x PI where: LR = the Loss Reserve of such Undivided Interest at the time of computation; PI = the Purchaser's Investments of such Undivided Interest on such day, as determined pursuant to Section 2.03; and RP = the Recourse Percentage on such day.

More Definitions of Recourse Percentage

Recourse Percentage shall have the meaning specified in the Fee Letter.

Recourse Percentage means, with respect to each Purchased Asset, (a) 33%, provided that, upon the Diversity Threshold first being met, that Recourse Percentage shall be 25%, or (b) such other Recourse Percentage as is set forth in the related Confirmation.