Monthly Payment Rate means, for any Monthly Period, a fraction (expressed as a percentage), (a) the numerator of which is the Principal Collections during such Monthly Period, and (b) the denominator of which is the Combined Outstanding Principal Balances as of the beginning of such Monthly Period.

Monthly Payment Rate means, for any Collection Period, the percentage derived from dividing the Principal Collections for such Collection Period by the average daily Pool Balance for such Collection Period.

Monthly Payment Rate means, with respect to any Collection Period, the percentage equivalent of a fraction, the numerator of which is the Principal Collections with respect to such Collection Period and the denominator of which is the average of the Pool Balance on the first and last day of such Collection Period.

Examples of Monthly Payment Rate in a sentence

Required Accumulation Factor Number: A fraction, rounded upwards to the nearest whole number, the numerator of which is one and the denominator of which is equal to the lowest Monthly Payment Rate on the Accounts, expressed as a decimal, for the 12 months preceding the date of such calculation; provided, however, that this definition may be changed at any time upon receipt by the Indenture Trustee of an Officer’s Certificate from the Servicer that such change shall not have an Adverse Effect.
In the event that the Depositor shall elect to so increase the Reserve Fund Required Percentage rather than the Subordination Factor, any increase in the Monthly Payment Rate that otherwise would have resulted in a decrease in the Subordination Factor will alternatively result in corresponding decrease in the Reserve Fund Required Percentage to the extent that the Reserve Fund Required Percentage had been increased rather than making the corresponding increase in the Subordination Factor.
Minimum November through April Monthly Payment Rate (3-mo moving avg) 6.
Minimum May through October Monthly Payment Rate (3-mo moving avg).
The Monthly Payment Rate (Collections of Principal Receivables and Finance Charge Receivables with respect to all Receivables in the Trust for the preceding Monthly Period divided by the amount of Receivables in the Trust as of the last day of the next preceding Monthly Period).................................................

More Definitions of Monthly Payment Rate

Monthly Payment Rate means, on any Determination Date, the quotient of (1) the sum of Dealer Note Collections for the related Due Period and (2) the daily average Aggregate Receivables Balance during the related Due Period.

Monthly Payment Rate is defined in the Sale and Servicing Agreement.

Monthly Payment Rate means, for any Monthly Period, a fraction (expressed as a percentage), (a) the numerator of which is (x) the Principal Collections during such Monthly Period, minus (y) the portion of such Principal Collections allocated to the Transferor pursuant to Sections 8.4(d), (e) and (f) of the Master Indenture, and (b) the denominator of which is (x) the Combined Outstanding Principal Balances as of the beginning of such Monthly Period, minus (y) the sum of the aggregate amount of each Dealer Overconcentration, Manufacturer Overconcentration and Product Line Overconcentration determined on the Determination Date falling in such Monthly Period.

Monthly Payment Rate means, for any Monthly Period, a fraction (expressed as a percentage), (a) the numerator of which is the excess of (i) the Principal Collections during such Monthly Period, over (ii) the portion of such Principal Collections allocated to the Transferor pursuant to Section 8.4 of the Indenture in respect of the Product Line Overconcentration for the accounts receivable and asset based lending receivables Product line for such Monthly Period and (b) the denominator of which is the excess of (i) the Combined Outstanding Principal Balances as of the beginning of such Monthly Period, over (ii) the Product Line Overconcentration for the accounts receivable and asset based lending receivables Product line used for purposes of making allocations for such Monthly Period.

Monthly Payment Rate means, for any Collection Period, the percentage derived from dividing (a) Principal Collections for such Collection Period minus Principal Collections allocated to the Residual Interestholder pursuant to Sections 4.2(f), (g) and (h) of the Agreement by (b) the beginning Net Pool Balance for such Collection Period.

Monthly Payment Rate. For any Collection Period, the percentage equivalent of a fraction (a) the numerator of which is the Principal Collections for such Collection Period with respect to Principal Receivables arising under the Scheduled Accounts and (b) the denominator of which is the average daily aggregate principal balance of all Principal Receivables arising under the Scheduled Accounts during such Collection Period.

Monthly Payment Rate means, on any Determination Date, the quotient of (1) the sum of Dealer Note Principal Collections for the related Due Period and (2) the daily average principal amount of Dealer Notes outstanding during the related Due Period.