Average Default Ratio definition
Average Default Ratio means, for any Distribution Date, the average of the Default Ratios determined for each of the three Collection Periods immediately preceding such Distribution Date.
Average Default Ratio means, for any Payment Date, the arithmetic average of the Default Ratios for such Payment Dates and the two immediately preceding Payment Dates.
Average Default Ratio means, for any Distribution Date, the average of the Default Ratios determined for each of the three Collection Periods immediately preceding such Distribution Date; provided that, with respect to the Diamond Timeshare Loans, (i) the “Average Default Ratio” for the first Distribution Date following the Restatement Date shall be the Default Ratio determined for the Collection Period immediately preceding such Distribution Date and (ii) the “Average Default Ratio” for the second Distribution Date following the Restatement Date shall be the average of the Default Ratios for each of the two Collection Periods immediately preceding such Distribution Date.
Examples of Average Default Ratio in a sentence
In addition to the information set forth in the preceding sentence, the Monthly Servicer Report shall also contain the following information: (i) the Aggregate Receivables Balance, the Average Delinquency Ratio, the Average Default Ratio and the Excess Spread for such Determination Date; (ii) whether any Termination Event has occurred as of such Determination Date; and (iii) whether any Termination Event that may have occurred as of a prior Determination Date is deemed cured as of such Determination Date.
In addition to the information set forth in the preceding sentence, the Monthly Servicer Report shall also contain the following information: (a) the Aggregate Receivables Balance, the Average Delinquency Ratio, the Average Default Ratio and the Excess Spread for such Determination Date; (b) whether any Termination Event has occurred as of such Determination Date; and (c) whether any Termination Event that may have occurred as of a prior Determination Date is deemed cured as of such Determination Date.
More Definitions of Average Default Ratio
Average Default Ratio. For any Determination Date, the arithmetic average of the Default Ratios, expressed as percentages, for the three (3) Collection Periods ended on such date, except that (i) in the case of the first Determination Date following the Closing Date, the "Average Default Ratio" shall be the Default Ratio for the Collection Period ended on such date, and (ii) in the case of the second Determination Date following the Closing Date, the "Average Default Ratio" shall be the arithmetic average of the Default Ratios for the two (2) Collection Periods ended on such date.
Average Default Ratio means, as of any date of determination, the average of the Default Ratios calculated over the last twelve months preceding such date of determination.
Average Default Ratio for the second Distribution Date following the Restatement Date shall be the average of the Default Ratios for each of the two Collection Periods immediately preceding such Distribution Date.
Average Default Ratio means, with respect to any Distribution --------------------- Date, the average of the Default Ratios for the immediately preceding three Monthly Periods.
Average Default Ratio means, for any Distribution Date, the average of the Default Ratios determined for each of the three Collection Periods immediately preceding such Distribution Date; provided that, with respect to the Diamond Timeshare Loans, (i) the “Average Default Ratio” for the first Distribution Date following the Restatement Date shall be the Default Ratio determined for the Collection Period immediately preceding such Distribution Date and (ii) the “Average Default Ratio” for the second Distribution Date following the Restatement Date shall be the average of the Default Ratios for each of the two Collection Periods immediately preceding such Distribution Date; provided further that, with respect to the Bluegreen Timeshare Loans, (i) the “Average Default Ratio” for the first Distribution Date following the Amendment No. 3 Effective Date shall be the Default Ratio determined for the Collection Period immediately preceding such Distribution Date and (ii) the “Average Default Ratio” for the second Distribution Date following the Amendment No. 3 Effective Date shall be the average of the Default Ratios for each of the two Collection Periods immediately preceding such Distribution Date.
Average Default Ratio means, with respect to any Determination Date, the arithmetic average of the Default Ratios for each of the three (3) Collection Periods immediately preceding such Determination Date; provided however, that (a) for the Determination Date occurring in July 2005, the “Average Default Ratio” shall be the Default Ratio for the Collection Period immediately preceding such Determination Date, and (b) for the Determination Date occurring in August 2005, the “Average Default Ratio” shall be the arithmetic average of the Default Ratios for each of the two (2) Collection Periods immediately preceding such Determination Date.
Average Default Ratio for the second Distribution Date following the Restatement Date shall be the average of the Default Ratios for each of the two Collection Periods immediately preceding such Distribution Date; provided further that, with respect to the Bluegreen Timeshare Loans, (i) the “Average Default Ratio” for the first Distribution Date following the Amendment No. 3 Effective Date shall be the Default Ratio determined for the Collection Period immediately preceding such Distribution Date and (ii) the “Average Default Ratio” for the second Distribution Date following the Amendment No. 3 Effective Date shall be the average of the Default Ratios for each of the two Collection Periods immediately preceding such Distribution Date.