# Cumulative Net Loss Ratio definition

Cumulative Net Loss Ratio means, as of any Payment Date, the ratio (expressed as a percentage) of (i) the aggregate Principal Balance of Receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the Cut-Off Date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (ii) the Pool Balance as of the Cut-Off Date.
Cumulative Net Loss Ratio on any Payment Date means the ratio, expressed as a percentage, of (a) the aggregate Measured Losses on the Receivables since the Cutoff Date through the last day of the related Collection Period, to (b) the Pool Balance as of the Cutoff Date.
Cumulative Net Loss Ratio means, as of any payment date, the ratio (expressed as a percentage) of (a) the aggregate principal balance of receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the cut-off date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (b) the Pool Balance as of the cut- off date.

## Examples of Cumulative Net Loss Ratio in a sentence

• The Cumulative Net Loss Ratio on any payment date will be the ratio, expressed as a percentage, of (a) the aggregate Realized Losses on the receivables since the Cutoff Date through the last day of the related calendar month, to (b) the Pool Balance as of the Cutoff Date.

• NO If both (1) and (2) are “YES” then see next test below NO If the 3 Month Average Delinquency and Cumulative Net Loss Ratio tests are met, then spread account reduces to 2.00% at April 2016 and/or 1.75% at October 2016 and/or 1.50% at April 2017 and/or 1.15% at October 2017 NO DEFINITIONS: Average Delinquency Ratio Test* On any payment date will be the average of the Delinquency Ratios for the preceding three calendar months.

• YES If both (1) and (2) are “YES” then see next test below YES If the 3 Month Average Delinquency and Cumulative Net Loss Ratio tests are met, then spread account reduces to 2.00% at August 2015 and/or 1.75% at February 2016 and/or 1.50% at August 2016 and/or 1.15% at February 2017 DEFINITIONS: Average Delinquency Ratio Test* On any payment date will be the average of the Delinquency Ratios for the preceding three calendar months.

• NO If both (1) and (2) are “YES” then see next test below NO If the 3 Month Average Delinquency and Cumulative Net Loss Ratio tests are met, then spread account reduces to 2.00% at September 2018 and/or 1.75% at March 2019 and/or 1.50% at September 2019 and/or 1.15% at March 2020 NO DEFINITIONS: Average Delinquency Ratio Test* On any payment date will be the average of the Delinquency Ratios for the preceding three calendar months.

• NO If both (1) and (2) are “YES” then see next test below NO If the 3 Month Average Delinquency and Cumulative Net Loss Ratio tests are met, then spread account reduces to 2.00% at August 2016 and/or 1.75% at February 2017 and/or 1.50% at August 2017 and/or 1.15% at February 2018 NO DEFINITIONS: Average Delinquency Ratio Test* On any payment date will be the average of the Delinquency Ratios for the preceding three calendar months.

## More Definitions of Cumulative Net Loss Ratio

Cumulative Net Loss Ratio means the ratio, expressed as a percentage, computed by dividing the Cumulative Net Losses by the Original Pool Balance.
Cumulative Net Loss Ratio means the ratio of (a) the Cumulative Reported Net Losses recognized with respect to the Contracts in the Contract Pool since the Initial Cut-Off Date over (b) the Initial Contract Pool Principal Balance.
Cumulative Net Loss Ratio on any Payment Date means the ratio, expressed as a percentage, of (a) the aggregate Measured Losses on the Receivables since their respective Cutoff Dates through the last day of the related Collection Period, to (b) the sum of (i) the Pool Balance as of the Initial Cutoff Date and (ii) the sum of the Contract Values of all Receivables purchased with amounts on deposit in the Pre-Funding Account, each as of the related Cutoff Date for the related Receivable.
Cumulative Net Loss Ratio means for any Payment Date a fraction expressed as a percentage, the numerator of which is the aggregate Charged-Off Amount of all Purchased Receivables (including Purchased Receivables which were not received on time and Purchased Receivables remaining to be paid in the future and any Redelivery Purchased Receivables which became Charged Off Receivables after being repurchased by VWFS) less any recoveries made in relation to Charged-Off Receivables with effect from the Cut- Off Date and the denominator of which is the Aggregate Cut-Off Date Discounted Receivables Balance.
Cumulative Net Loss Ratio has the meaning specified in the Insurance Agreement.
Cumulative Net Loss Ratio means, with respect to any Determination Date, a fraction (expressed as a percentage), the numerator of which is equal to (x) the sum of the Net Liquidation Losses for all Collection Periods from the Cut-Off Date through and including the Collection Period immediately preceding such Determination Date plus (y) the Cram Down Losses that occurred during such period, and the denominator of which is equal to the aggregate Principal Balance of the Receivables as of the Cut-Off Date.
Cumulative Net Loss Ratio means, as of any Payment Date, the ratio (expressed as a percentage) of (a) the aggregate Principal Balance of Receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the Initial Cut-Off Date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (b) the sum of (i) the Initial Pool Balance and (ii) each Subsequent Pool Balance.