Default Differential definition

Default Differential means, with respect to the Loans at any time, the rate calculated by subtracting the Scenario Default Rate for the Loans at such time from the Break-Even Default Rate for the Loans at such time.
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Default Differential means, with respect to the Highest Ranking Class, as of any date of determination, the rate calculated by subtracting (a) an estimate of the cumulative default rate for the Current Portfolio or the Proposed Portfolio, as applicable, consistent with the rating of such Class on the Initial Refinancing Date, determined by the application of the S&P CDO Monitor at such time from (b) the maximum percentage of defaults which the Current Portfolio or the Proposed Portfolio, as applicable, can sustain at any time, as determined from time to time through application of the S&P CDO Monitor, which, after giving effect to S&P's assumptions on recoveries, interest rates and timing of defaults and to the Priority of Payments specified in Section 11.1, will result in sufficient funds remaining for the payment of such Class in full by its Stated Maturity Date and the timely payment of interest on such Class.
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Default Differential means, with respect to the Loans at any time, the rate calculated by subtracting the Scenario Default Rate for the Loans at such time from (x) during any S&P CDO Monitor Formula Election Period, the Adjusted Break-Even Default Rate or (y) during any S&P CDO Monitor Model Election Period, the Break-Even Default Rate, in each case, for the Loans at such time.
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Examples of Default Differential in a sentence

  • The S&P CDO Monitor Test will be considered to be improved if each Class Default Differential of the Proposed Portfolio is greater than the corresponding Class Default Differential of the Current Portfolio.

  • The S&P CDO Monitor Test will be satisfied on any date of determination if, after giving effect to the sale of a Collateral Obligation or the purchase of a Collateral Obligation, each Class Default Differential of the Proposed Portfolio is positive.

  • The S&P CDO Monitor Test will be satisfied on any date of determination if, after giving effect to the sale of a Collateral Obligation or the purchase of an additional Collateral Obligation, each Class Default Differential of the Proposed Portfolio is positive.

  • The S&P CDO Monitor Test will be considered to be improved if the Default Differential of the Proposed Portfolio is greater than the Default Differential of the Current Portfolio.The "Minimum Weighted Average S&P Recovery Rate Test" will be satisfied on any date of determination if the Weighted Average S&P Recovery Rate for the Class A-1 Notes equals or exceeds the Weighted Average S&P Recovery Rate for the Class A-1 Notes selected by the Collateral Manager in connection with the S&P CDO Monitor Test.

  • The CDO Monitor TestThe “CDO Monitor Test” will be satisfied on any date from the Effective Date until the end of the Reinvestment Period if, after giving effect to the purchase or sale of a Collateral Debt Obligation, the Class A Default Differential of the Proposed Portfolio is positive on such date.

  • Futurebus+ Backplane Transceiver Logic 101 LVT: Backplane Behavior 105 *CBT 106 *CBTLV 108 GTL/GTLP/GTL+: Gunning Transceiver Logic 110 Differential Nets 118 CDS Default: Cadence Design Systems CMOS Default Differential Switch 119 *ECL: Emitter Coupled Logic 122 LVDS: Low Voltage Differential Switching 125 Signal Integrity (SI) Summary and Recommendations Only some very general recommendations are made regarding the choice of a default IBIS model for different logic levels.

  • S&P CDO Monitor Test The S&P CDO Monitor Test will be satisfied on the Closing Date, if the Class A-1 Default Differential of the Current Portfolio is not negative, the Class A-2 Default Differential of the Current Portfolio is not negative and the Class B Default Differential of the Current Portfolio is not negative.

  • S&P CDO Monitor Test The S&P CDO Monitor Test will be satisfied if, after giving effect to the purchase of a Collateral Debt Obligation (after the sale of a Collateral Debt Obligation, if applicable), the Class A-1 Default Differential of the Proposed Portfolio is not negative, the Class A-2 Default Differential of the Proposed Portfolio is not negative, the Class B Default Differential of the Proposed Portfolio is not negative and the Class C Default Differential of the Proposed Portfolio is not negative.

  • The S&P CDO Monitor Test will be considered to be improved if each Class DefaultDifferential of the Proposed Portfolio is greater than the corresponding Class Default Differential of the Current Portfolio.

  • A school shall maintain a “Do Not Contact List” with the names and contact information of prospective students who indicate in any way to the school a desire not to be contacted for solicitation purposes.


More Definitions of Default Differential

Default Differential. With respect to the Class A-1 Notes, as of any date of determination, the rate calculated by subtracting the Scenario Default Rate at such time from the Adjusted Break-even Default Rate at such time.
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Default Differential. With respect to the S&P Highest Ranking Class A-1 Notes, as of any date of determination, the rate calculated by subtracting the Scenario Default Rate at such time from the Adjusted Break-even Default Rate at such time.
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Default Differential means, with respect to the Class A Notes, as of any date of determination, the rate calculated by subtracting the Scenario Default Rate at such time from the Adjusted Break-Even Default Rate at such time, or if either the Scenario Default Rate or the Adjusted Break-Even Default Rate cannot be calculated at any time, zero.
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Related to Default Differential

  • Interest Differential is defined in Section 3.4.

  • Yield Differential has the meaning set forth in Section 2.14(e)(iii).

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 3.50% above the Alternate Base Rate.

  • Default Excess means, with respect to any Defaulting Lender, the excess, if any, of such Defaulting Lender’s Pro Rata Share of the aggregate outstanding principal amount of Loans of all Lenders (calculated as if all Defaulting Lenders (other than such Defaulting Lender) had funded all of their respective Defaulted Loans) over the aggregate outstanding principal amount of all Loans of such Defaulting Lender.

  • Default Costs means reasonable attorney's fees and remarketing costs resulting from a Lessee default or Lessor's enforcement of its remedies. DELIVERY DATE - means date of delivery of Inventory Equipment to Lessee's address.

  • Breakage Costs shall have the meaning set forth in Section 2.2.3(h) hereof.

  • Default Date the meaning set forth in Section 3.2(a).

  • Hedge Breakage Costs For any Hedge Transaction, any amount payable by the Seller for the early termination of that Hedge Transaction or any portion thereof.

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”

  • Note Default Interest Spread means a rate per annum equal to three percent (3.0%); provided, however, that if the weighted average of the Senior Note Default Rate and the Note B Default Rate would exceed the maximum rate permitted by applicable law, the note default interest spread shall equal (i) the rate at which the weighted average of the Senior Note Default Rate and the Note B Default Rate equals the maximum rate permitted by applicable law minus (ii) the Mortgage Loan Rate.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Price Differential with respect to any Transaction as of any date, the aggregate amount obtained by daily application of the Pricing Rate for such Transaction to the Purchase Price for such Transaction on a 360 day per year basis for the actual number of days during the period commencing on (and including) the Purchase Date for such Transaction and ending on (but excluding) the date of determination (reduced by any amount of such Price Differential previously paid by Seller to Buyer with respect to such Transaction);

  • Mandatory Prepayment Event has the meaning specified in Section 2.03(b)(i).

  • Differential Amount means the Differential Amount as calculated or, respectively, specified by the Calculation Agent pursuant to § 4 of the Special Conditions.

  • Recovered tax increment value means, except as otherwise

  • Termination Fee Event has the meaning ascribed thereto in Section 5.2(a);

  • Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.

  • Tax Event Repayment Date means the date set out in a notice from the Issuer to the Bondholders pursuant to Clause 10.4 (Early redemption option due to a tax event).

  • Discounted Prepayment Determination Date has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • Workout-Delayed Reimbursement Amounts With respect to any Mortgage Loan or Serviced Loan Combination, the amount of any Advance made with respect to such Mortgage Loan or Serviced Loan Combination on or before the date such Mortgage Loan or Serviced Loan Combination becomes (or, but for the making of three monthly payments under its modified terms, would then constitute) a Corrected Loan, together with (to the extent accrued and unpaid) interest on such Advances, to the extent that (i) such Advance is not reimbursed to the Person who made such Advance on or before the date, if any, on which such Mortgage Loan or Serviced Loan Combination becomes a Corrected Loan and (ii) the amount of such Advance becomes a future obligation of the Mortgagor to pay under the terms of modified Loan Documents. That any amount constitutes all or a portion of any Workout-Delayed Reimbursement Amount shall not in any manner limit the right of any Person hereunder to determine in the future that such amount instead constitutes a Nonrecoverable Advance.