Static Pool Test definition

Static Pool Test means, for all Contracts purchased by the Borrower, the Cumulative Net Loss shall not exceed the percentages specified below, otherwise either a Facility Termination Event or an Event of Default, will be deemed to have occurred. CUMULATIVE NET LOSSES TIME SINCE CONTRACT ORIGINATION FACILITY TERMINATION EVENT EVENT OF DEFAULT ------------------- -------------------------- ---------------- 0 - 12 months 2.25% 2.50% 13 - 18 months 3.25% 3.50% 19 - 24 months 3.75% 4.00% 25 - 30 months 4.00% 4.25% 31 - 36 months 4.25% 4.50% 37 - 42 months 4.50% 4.75% 43 - 48 months 5.00% 5.25% 49 - 60 months 5.25% 5.50% 61 + months 5.50% 5.75%
Sample 1
Static Pool Test means, the Cumulative Net Loss of the Serviced Portfolio shall not exceed the percentages specified below, otherwise either a Reserve Account Step-Up Event or a Facility Termination Event will be deemed to have occurred. Cumulative Net Losses Reserve Account Facility Calendar Quarter Since Contract Origination Step-Up Event Termination Event 1 2.50 % 3.00 % 2 3.50 % 4.00 % 3 4.00 % 4.50 % 4 4.25 % 4.75 % 5 4.50 % 5.00 % 6 4.75 % 5.25 % 7 5.25 % 5.75 % 8 5.50 % 6.00 % 9 and after 5.75 % 6.25 %
Sample 1
Static Pool Test means, for all Contracts purchased by the Borrower, with respect to whether there is a Facility Termination Event or an Event of Default, the applicable percentage specified below. Cumulative Net Losses Time since Contract origination Facility Termination Event Event of Default 0 – 12 months 2.25% 2.50% 13 – 18 months 3.25% 3.50% 19 – 24 months 3.75% 4.00% 25 – 30 months 4.00% 4.25% 31 – 36 months 4.25% 4.50% 37 – 42 months 4.50% 4.75% 43 – 48 months 5.00% 5.25% 49 – 60 months 5.25% 5.50% 61 + months 5.50% 5.75%
Sample 1

Related to Static Pool Test

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  • Pool Percentage With respect to each Mortgage Pool and any Distribution Date, the fraction, expressed as a percentage, the numerator of which is the Pool Balance for such Mortgage Pool for such date and the denominator of which is the Aggregate Pool Balance for such date.

  • Qualifying Criteria means the criteria outlined in Section 3 and which is used to determine whether an individual is eligible to receive criminal Legal Aid;

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