Excess Loss Amount definition

Excess Loss Amount. As to any Payment Date, any Liquidation Loss Amounts for the related Collection Period which, when added to the aggregate of such Liquidation Loss Amounts for all preceding Collection Periods, exceed $88,000,000.

Excess Loss Amount. With respect to the Group I Loans and any Payment Date, any Liquidation Loss Amount on the Group I Loans for such Payment Date that together with Liquidation Loss Amounts on the Group I Loans from prior Payment Dates exceeds an amount equal to 11.25% of the Cut-off Date Loan Balance of the Group I Loans. With respect to the Group II Loans and any Payment Date, any Liquidation Loss Amount on the Group II Loans for such Payment Date that together with Liquidation Loss Amounts on the Group II Loans from prior Payment Dates exceeds an amount equal to 11.25% of the Cut-off Date Loan Balance of the Group II Loans.

Excess Loss Amount means the excess in respect of any Liquidated Reference Obligation for which the Accountant (as defined in the Credit Default Swap) determines that the Verified Loss Amount previously determined in respect of such Liquidated Reference Obligation was erroneously set at a higher figure than the correct amount.

Examples of Excess Loss Amount in a sentence

• Additional Swap Counterparty PaymentsThe Swap Counterparty may be liable to make payments of Loss Adjustment Payments to the Issuer following the determination of any Late Recovery Amount or Excess Loss Amount.

• Excess Losses If the Accountant determines, in respect of any Liquidated Reference Obligation, that the Verified Loss Amount previously determined in respect of such Liquidated Reference Obligation was erroneously set at a higher figure than the correct amount (the excess being an "Excess Loss Amount"), the Calculation Agent shall promptly notify the Swap Counterparty, the Issuer, the Administrator and the Note Trustee in writing of the amount thereof.

• Settlement Provisions – Additional Payments Upon the determination of a Late Recovery Amount, an Excess Loss Amount or an Additional Loss Amount, the Calculation Agent shall recalculate the Adjusted Cumulative Loss Amount and the Cash Settlement Amount(s), if any, that should have been paid by the Issuer prior to the date of determination (on the basis of the amended Adjusted Cumulative Loss Amount).

• The amount represented as "(y)" in the above formula is designed to represent Investor's proportional share of the Company's after-tax loss resulting from the Excess Loss Amount.

• Additional Swap Counterparty Payments The Swap Counterparty may be liable to make payments of Loss Adjustment Payments to the Issuer following the determination of any Late Recovery Amount or Excess Loss Amount.

More Definitions of Excess Loss Amount

Excess Loss Amount. As of any Payment Date, the sum of the following for the related Collection Period: (i) any Special Hazard Losses in excess of the Special Hazard Amount, (ii) any Fraud Losses in excess of the Fraud Loss Amount, and (iii) any losses incurred on the Home Loans caused by or resulting from an Extraordinary Event.

Excess Loss Amount means the lesser of (a) 10% of the Stipulated Transaction Value and (b) the amount by which (x) the total remaining costs (as determined by an Acceptable Appraiser) as of the Closing Date of repairing or restoring the facilities that suffered a Casualty or Condemnation Loss to a condition reasonably comparable to their condition prior to such Casualty or Condemnation Loss after giving effect to any Available Proceeds, exceeds (y) the amount equal to 10% of the Stipulated Transaction Value.

Excess Loss Amount. With respect to the Group I Loans and any Payment Date, the sum of (i) the excess, if any, of the aggregate Liquidation Loss Amounts on the Group I Loans (other than as described in clauses (ii)-(v) hereof) for the related Collection Period and all preceding Collection Periods (other than as described in clauses (ii)-(v) hereof) over the amount equal to 11.25% of the Cut-off Date Loan Balance of the Group I Loans, (ii) any Special Hazard Losses on the Group I Loans in excess of the Special Hazard Amount with respect to the Group I Loans, (iii) any Fraud Losses on the Group I Loans in excess of the Fraud Loss Amount with respect to the Group I Loans, (iv) any Bankruptcy Losses on the Group I Loans in excess of the Bankruptcy Loss Amount with respect to the Group I Loans, and (v) any losses on the Group I Loans caused by or resulting from an Extraordinary Event. With respect to the Group II Loans and any Payment Date, the sum of (i) the excess, if any, of the aggregate Liquidation Loss Amounts on the Group II Loans (other than as described in clauses (ii)-(v) hereof) for the related Collection Period and all preceding Collection Periods (other than as described in clauses (ii)-(v) hereof) over the amount equal to 11.25% of the Cut-off Date Loan Balance of the Group I Loans, (ii) any Special Hazard Losses on the Group II Loans in excess of the Special Hazard Amount with respect to the Group II Loans, (iii) any Fraud Losses on the Group II Loans in excess of the Fraud Loss Amount with respect to the Group II Loans, (iv) any Bankruptcy Losses on the Group II Loans in excess of the Bankruptcy Loss Amount with respect to the Group II Loans, and (v) any losses on the Group II Loans caused by or resulting from an Extraordinary Event.

Excess Loss Amount. On any Payment Date, the "Excess Loss Amount" will be equal to the sum of (i) any Liquidation Loss Amounts (other than as described in clauses (ii)-(iv) below) for the related Collection Period which, when added to the aggregate of such Liquidation Loss Amounts for all preceding Collection Periods exceed $136,000,000, (ii) any Special Hazard Losses in excess of the Special Hazard Amount, (iii) any Fraud Losses in excess of the Fraud Loss Amount, and (iv) any losses incurred on the Home Loans caused by or resulting from an Extraordinary Event.

Excess Loss Amount. With respect to any Payment Date, any Liquidation Loss Amount on the Home Equity Loans for such Payment Date that together with Liquidation Loss Amounts on the Home Equity Loans from prior Payment Dates exceeds an amount equal to 12.50% of the Cut-off Date Loan Balance of the Home Equity Loans.

Excess Loss Amount means the lesser of (i) the Sirius Net COVID Loss minus the TPRE Net COVID Loss and (ii) $100 million.

Excess Loss Amount. On any Payment Date, the "Excess Loss Amount" will be equal to the sum of (i) any Liquidation Loss Amounts (other than as described in clauses (ii)-(iv) below) for the related Collection Period which, when added to the aggregate of such Liquidation Loss Amounts for all preceding Collection Periods exceed $184,000,033, (ii) any Special Hazard Losses in excess of the Special Hazard Amount, (iii) any Fraud Losses in excess of the Fraud Loss Amount, and (iv) any losses incurred on the Home Loans caused by or resulting from an Extraordinary Event.