Average Excess Spread Percentage means, on any Determination Date, the average (expressed as a per annum rate) of the Excess Spread Percentages for the three consecutive Monthly Periods preceding such date."

Average Excess Spread Percentage means, for any Distribution Date, the percentage determined as follows:

Average Excess Spread Percentage means, as of any Distribution Date, the average of the Excess Spread Percentages for the three consecutive Collection Periods preceding such Distribution Date.

## Examples of *Average Excess Spread Percentage* in a sentence

Three-Month

**Average Excess Spread Percentage**% 8.46% ------------------ ------------------ c.Required Spread Account Percentage (a) Adjusted Portfolio Yield 12.88% (b) Three-Month

**Average Excess Spread Percentage**6.19% (c) Required Spread Account Percentage 8.25% 63.**Average Excess Spread Percentage**for three consecutive Due Periods % 5.75% 95.Required Spread Account Percentage (a) Adjusted Portfolio Yield 7.34% (b) Three-Month

**Average Excess Spread Percentage**5.48% (c) Required Spread Account Percentage 1.00% 58.Required Spread Account Percentage (a) Adjusted Portfolio Yield 5.32% (b) Three-Month

**Average Excess Spread Percentage**3.77% (c) Required Spread Account Percentage 3.00% 58.

## More Definitions of *Average Excess Spread Percentage*

Average Excess Spread Percentage means, for any -------------------------------- Distribution Date, the average of the Excess Spread Percentage for the three consecutive Monthly Periods preceding such Distribution Date; provided, however, that (i) for the August, 1999 Distribution Date, the Average Excess Spread Percentage shall equal the Excess Spread Percentage for the July, 1999 Monthly Period (and further provided that the Excess Spread Percentage for such Monthly Period shall be calculated by accruing Monthly Interest from the Closing Date through and including the last day of such Monthly Period); and (ii) for the September, 1999 Distribution Date, the Average Excess Spread Percentage shall equal the average of the Excess Spread Percentages calculated for the July, 1999 Monthly Period (as calculated pursuant to the preceding clause (i)) and for the August, 1999 Monthly Period.

Average Excess Spread Percentage means, as of any Month End Date, the average of the Cumulative Excess Spread Percentage for each of the three most recently completed Settlement Periods including the Settlement Period ending on such Month End Date.

Average Excess Spread Percentage means, with respect to any -------------------------------- Distribution Date, the average of the Excess Spread Percentages for the three consecutive Due Periods preceding such Distribution Date; provided, however, -------- ------- that (i) the Average Excess Spread Percentage with respect to the first Distribution Date shall equal the Excess Spread Percentage for the preceding Due Period and (ii) the Average Excess Spread Percentage with respect to the second Distribution Date shall equal the average of the Excess Spread Percentages for the two consecutive Due Periods preceding such Distribution Date.

Average Excess Spread Percentage means, with respect to any Determination Date following a Settlement Period during which Advances were outstanding, the average of the Spread Percentages for such Determination Date and the two most recent Determination Dates following a Settlement Period during which Advances were outstanding (or such lesser number of such Settlement Periods as shall have occurred after the Closing Date).

Average Excess Spread Percentage means, for any Distribution Date, the average of the Excess Spread Percentages for the three consecutive Collection Periods preceding such Distribution Date; provided, however, that (i) the Average Excess Spread Percentage for the first Distribution Date shall equal the Excess Spread Percentage for the preceding Collection Period and (ii) the Average Excess Spread Percentage for the second Distribution Date shall equal the average of the Excess Spread Percentages for the two consecutive Collection Periods preceding such Distribution Date.

Average Excess Spread Percentage means (a) with respect to the [Month 1] -------------------------------- 2001 Distribution Date, the Modified Excess Spread Percentage, (b) with respect to the [Month 2] 2001 Distribution Date, the percentage equivalent of a fraction the numerator of which is the sum of (i) the Modified Excess Spread Percentage and (ii) the Excess Spread Percentage with respect to the [Month 1] 2001 Monthly Period and the denominator of which is two, (c) with respect to the [Month 3] 2001 Distribution Date, the percentage equivalent of a fraction the numerator of which is the sum of (i) the Modified Excess Spread Percentage, (ii) the Excess Spread Percentage with respect to the [Month 1] 2001 Monthly Period and (iii) the Excess Spread Percentage with respect to the [Month 2] 2001 Monthly Period and the denominator of which is three and (d) with respect to the [Month 4] 2001 Distribution Date and each Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

Average Excess Spread Percentage means, for any Distribution Date, the average of the Excess Spread Percentage for the three consecutive Monthly Periods preceding such Distribution Date; provided, however, that (i) for the December 2001 Distribution Date, the Average Excess Spread Percentage shall equal the Excess Spread Percentage for the November 2001 Monthly Period; and (ii) for the January 2002 Distribution Date, the Average Excess Spread Percentage shall equal the average of the Excess Spread Percentages calculated for the November 2001 Monthly Period (as calculated pursuant to the preceding clause (i)) and for the December 2001 Monthly Period.