Weighted Average Annualized Portfolio Yield definition
Weighted Average Annualized Portfolio Yield means, at any time, the product of (i) the weighted average Expected IRR for all Purchased Policies that are Eligible Assets (weighted solely by the respective Collateral Balances of such Purchased Policies) and (ii) the Yield Realization Percentage.
Weighted Average Annualized Portfolio Yield means, at any time, the product of (i) the weighted average Expected IRR for all Purchased Policies that are Eligible Assets (weighted solely by the respective Collateral Balances of such Purchased Policies) and (ii) the Yield Realization Percentage. “Yield Realization Percentage” means, as of any date of determination, a fraction, the numerator of which is equal to the annualized yield by the Borrower actually realized during the immediately preceding six (6) calendar month period in respect of sold or liquidated Purchased Policies included in the Collateral and the denominator of which is equal to the weighted average Expected IRR on such Purchased Policies for such six-month period; provided, that, if less than five (5) Purchased Policies are sold and/or liquidated during such six-month period, the immediately preceding twelve-month period shall be used for purposes of this definition. The Yield Realization Percentage shall be calculated by the Seller in a manner satisfactory to the Agent; provided that if the Agent disagrees with such calculation, then the Agent may re-calculate the Yield Realization Percentage, which calculation by the Agent shall be conclusive and binding absent manifest error.