Excess Spread Percentage means, with respect to any Distribution Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.
Excess Spread Percentage for any Distribution Date means a fraction, the numerator of which is the Excess Spread Amount for such Distribution Date multiplied by 12 and the denominator of which is the sum of the Nominal Liquidation Amounts of all Tranches of DiscoverSeries Notes as of the first day of the related Due Period.
Excess Spread Percentage has the meaning specified in the Indenture Supplement.
Examples of Excess Spread Percentage in a sentence
If one or more of the Sale Agreements is terminated on or prior to the Closing Date, Seller and Purchaser will use good faith efforts to increase the Purchaser Excess Spread Percentage of any Sale Agreement that is entered into on the Closing Date to better reflect the business understanding of the parties; provided, however, that no Purchaser Excess Spread Percentage shall exceed 80%.
More Definitions of Excess Spread Percentage
Excess Spread Percentage means, with respect to any Monthly Period, the amount, if any, by which (i) the Portfolio Yield exceeds (ii) the Base Rate.
Excess Spread Percentage has the meaning given to it in the Insurance Agreement.
Excess Spread Percentage means, with respect to each Payment Date, as determined on the second preceding Business Day, an amount equal to the Series 2018-1 Portfolio Yield with respect to the related Monthly Period minus the Base Rate with respect to such Payment Date.
Excess Spread Percentage means, with respect to any Monthly ------------------------ Period, the amount, if any, by which (i) the Net Portfolio Yield exceeds (ii) the Collateral Base Rate.
Excess Spread Percentage means, with respect to each Payment Date, as determined on the second preceding Business Day, an amount equal to the Series [•] Portfolio Yield with respect to the related Monthly Period minus the Base Rate with respect to such Payment Date.
Excess Spread Percentage means, with respect to any Collection Period, the excess of (1) the weighted average APR of the Eligible Pool Balance as of the first day of such Collection Period, over (2) the annualized fraction (expressed as a percentage) the numerator of which is the excess (if any) of (i) the sum of the following amounts for the related Payment Date: (A) the Servicing Fee, (B) the Backup Servicing Fee, (C) the Image File Custodian Fee, (D) the aggregate amount of Interest payable by the Borrower on all Loans Outstanding during the related Collection Period and any Interest with respect to any prior Payment Date to the extent not paid on a prior Payment Date, (E) the aggregate outstanding Principal Balance (determined for this purpose, with respect to any Defaulted Receivable, as if such Receivable was not a Defaulted Receivable) of all Receivables that have become Defaulted Receivables during such Collection Period and (F) the aggregate amount payable by the Borrower pursuant to a Hedging Agreement or Hedge Transaction on the related Payment Date (excluding termination payments and any upfront cap premiums), over (ii) the aggregate amount received by the Borrower pursuant to a Hedging Agreement or Hedge Transaction during such Collection Period (excluding termination payments), and the denominator of which is (x) for any Collection Period during which no Securitization occurred, the Eligible Pool Balance as of the first day of such Collection Period or (y) for any Collection Period during which a Securitization occurred, the weighted average Eligible Pool Balance during such Collection Period. Notwithstanding the foregoing, for purposes of calculating the Excess Spread Percentage for the first Determination Date, the related “Collection Period” shall mean the period from the Closing Date to July 31, 2017 and for purposes of clause (x) hereof, “the first day of such Collection Period” shall mean the Closing Date.
Excess Spread Percentage means, with respect to each Payment Date, as determined on the Business Day prior to such Payment Date, the amount, if any, by which the Series 2019-1 Portfolio Yield with respect to the related Monthly Period exceeds the Base Rate with respect to such Monthly Period.