Maximum Default Rate definition
Maximum Default Rate means, with respect to any Monthly Period, twelve times the percentage equivalent of a fraction (i) the numerator of which is the aggregate Outstanding Principal Balance of all Pledged Receivables that became Defaulted Receivables during such Monthly Period and (ii) the denominator of which is the average daily Outstanding Principal Balance of all Pledged Receivables for such Monthly Period.
Maximum Default Rate means 7%.
Maximum Default Rate means 700 bps.
More Definitions of Maximum Default Rate
Maximum Default Rate shall be defined in the Trust and Security Agreement as: 3.0%.
Maximum Default Rate. The meaning specified in the Specific Indenture Terms.
Maximum Default Rate has the meaning assigned to that term in subsection 2.2(A). -----------------