Static Pool Test definition
Static Pool Test means, for all Contracts purchased by the Borrower, the Cumulative Net Loss shall not exceed the percentages specified below, otherwise either a Facility Termination Event or an Event of Default, will be deemed to have occurred. CUMULATIVE NET LOSSES TIME SINCE CONTRACT ORIGINATION FACILITY TERMINATION EVENT EVENT OF DEFAULT ------------------- -------------------------- ---------------- 0 - 12 months 2.25% 2.50% 13 - 18 months 3.25% 3.50% 19 - 24 months 3.75% 4.00% 25 - 30 months 4.00% 4.25% 31 - 36 months 4.25% 4.50% 37 - 42 months 4.50% 4.75% 43 - 48 months 5.00% 5.25% 49 - 60 months 5.25% 5.50% 61 + months 5.50% 5.75%
Static Pool Test means, the Cumulative Net Loss of the Serviced Portfolio shall not exceed the percentages specified below, otherwise either a Reserve Account Step-Up Event or a Facility Termination Event will be deemed to have occurred. 1 2.50 % 3.00 % 2 3.50 % 4.00 % 3 4.00 % 4.50 % 4 4.25 % 4.75 % 5 4.50 % 5.00 % 6 4.75 % 5.25 % 7 5.25 % 5.75 % 8 5.50 % 6.00 % 9 and after 5.75 % 6.25 %
Static Pool Test means, for all Contracts purchased by the Borrower, with respect to whether there is a Facility Termination Event or an Event of Default, the applicable percentage specified below.
More Definitions of Static Pool Test
Static Pool Test means, the Cumulative Net Loss of the Serviced Portfolio shall not exceed the percentages specified below, otherwise either a Reserve Account Step-Up Event or a Facility Termination Event will be deemed to have occurred.