Defaulted Contract Valuation Amount definition
Defaulted Contract Valuation Amount means, as to any Defaulted Contract, the sum of (a) fifty percent of the Contract Principal Balance of such Defaulted Contract as of the first day of the Collection Period during which the Contract became a Defaulted Contract, (b) any Scheduled Payments due from but not yet paid by the Obligor in respect of such Defaulted Contract as of the first day of the Collection Period during which the Contract became a Defaulted Contract, and (c) any subsequent cash collections on such Contract. However the Defaulted Contract Valuation Amount shall never exceed the Contract Principal Balance plus Scheduled Payments due but not yet paid as of the first day of the Collection Period during which the Contract became a Defaulted Contract.