Rolling Three Month definition

Rolling Three Month. Delinquency: For any Distribution Date will be the fraction, expressed as a percentage, equal to the average of the related delinquency rates for each of the three (or one and two, in the case of the first and second Distribution Dates) immediately preceding months.

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Rolling Three Month. With respect to any Determination Date, the average of the percentage equivalents of the fractions determined for each of the three immediately preceding Remittance Periods the numerator of each of which is equal to the sum of (without duplication) (i) the aggregate Loan Balance of 90-Day Delinquent Loans, (ii) the aggregate outstanding principal balance of Home Equity Loans in foreclosure and (iii) the aggregate outstanding principal balance of Home Equity Loans relating to REO Properties as of the end of such Remittance Period and the denominator of which is the Loan Balance of all of the Home Equity Loans as of the end of such Remittance Period.

Rolling Three Month. Delinquency Rate Event” for any Collection Period, the average of the Delinquency Rate for such Collection Period and the two Collection Periods immediately preceding such Collection Period is greater than 2.50%.

Examples of Rolling Three Month in a sentence

• The Annual Default Percentage (Three Month Average), the Pool Annual Default Percentage (Three Month Average), the 30+ Delinquency Percentage (Rolling Three Month), the 60+ Delinquency Percentage (Rolling Three Month), the Pool 60+ Delinquency Percentage (Rolling Three Month) and the Cumulative Default Percentage.

• The following definition set forth in Article I of the Pooling and Servicing Agreement is hereby amended and restated: Trigger Event: A Trigger Event will occur for any Distribution Date if the Rolling Three Month Delinquency Rate as of the last day of the related Collection Period equals or exceeds 5.25%.

• Cause to be funded into the Credit Agreement Reserve Securities Account all amounts to be funded under, and shall comply with all of the terms of, the Credit Agreement Reserve Securities Account Control Agreement if, as set forth in such Agreement, the Rolling Three Month Average Excess Spread Percentage goes below 2% (1.88% for the August 2003 CARS Account Monitoring Date) with respect to the Metris Master Trust as a whole.

• The minimum time period that each Term Loan shall bear interest at the applicable Increased Rate is three months, provided that after such three month minimum period, if the Rolling Three Month Average Excess Spread Percentage is not less than the Applicable Trigger Percentage, then the Increased Rate shall no longer apply unless and until the Rolling Three Month Average Excess Spread Percentage shall again go below the Applicable Trigger Percentage.

• The minimum time period under which the Term Loan shall bear interest at the Default Interest Rate is three months, provided that after such three month minimum period, if the Rolling Three Month Average Excess Spread Percentage is not less than 2%, then the Default Interest Rate shall no longer apply unless and until the Rolling Three Month Average Excess Spread Percentage shall again go below 2%.

• Cause to be funded into the Credit Agreement Reserve Securities Account all amounts to be funded under, and shall comply with all of the terms of, the Credit Agreement Reserves Securities Account Control Agreement if, as set forth in such Agreement, the Rolling Three Month Average Excess Spread Percentage goes below 2% with respect to the Metris Master Trust as a whole.

• Initial requirements for a month not appearing in the immediately preceding Rolling Three Month Forecast may be set by Oakley within the reasonable expectations of the parties.

• The Certificate Insurer may also remove the Master Servicer as follows: (i) upon the failure of the Master Servicer to satisfy the Servicer Termination Test, (ii) Realized Losses over any one twelve-month period exceed 1.50% of the Original Aggregate Loan Balance of the Mortgage Loans or (iii) the 90 + Delinquency Percentage (Rolling Three Month) for the Mortgage Loans exceeds 10.00% of the Original Aggregate Loan Balance of the Mortgage Loans.

More Definitions of Rolling Three Month

Rolling Three Month. Delinquency Rate Event"--shall occur with respect to any Payment Date if the average of the Delinquency Rate for the Payment Date and the two Payment Dates immediately preceding the Payment Date is greater than 2.50%.

Rolling Three Month. Delinquency Rate" with respect to any Distribution Date will be the average of the Delinquency Rates for each of the three (or one and two, in the case of the first and second Distribution Dates) immediately preceding months.