Cumulative Loss Test Sample Clauses

The Cumulative Loss Test is a contractual provision used to assess whether the total losses incurred over a specified period exceed a predetermined threshold. In practice, this clause typically requires parties to monitor and calculate aggregate losses, such as financial shortfalls or damages, and compare them to the agreed limit. If the cumulative losses surpass this threshold, certain contractual rights or remedies—such as termination, renegotiation, or triggering of guarantees—may be activated. The core function of the Cumulative Loss Test is to provide a clear mechanism for managing risk and responding to significant financial impacts during the contract term.
Cumulative Loss Test. The Cumulative Loss Test will be failed on a Distribution Date if the Cumulative Loss Percentage equals or exceeds (1) with respect to Distribution Dates from July 2009 through June 2010, inclusive, 0.65%, (2) with respect to Distribution Dates from July 2010 through June 2011, inclusive, 1.45%, (3) with respect to Distribution Dates from July 2011 through June 2012, inclusive, 2.45%, (4) with respect to Distribution Dates from July 2012 through June 2013, inclusive, 3.25% and (5) with respect to Distribution Dates from July 2013 and thereafter, 3.85%.
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Cumulative Loss Test. 10 Cut-off Date...................................................................................10 DCR ......................................................................................10
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Cumulative Loss Test. The Cumulative Loss Test for Group 1 will be failed on a Distribution Date if the Cumulative Loss Percentage of Pool 1 equals or exceeds (1) with respect to Distribution Dates from [Month/Year] through [Month/Year], inclusive, [**]% in the first month, plus an additional [**]% for each month thereafter, (2) with respect to Distribution Dates from [Month/Year] through [Month/Year], inclusive, [**]% in the first month, plus an additional [**]% for each month thereafter, (3) with respect to Distribution Dates from [Month/Year] through [Month/Year], inclusive, [**]% in the first month, plus an additional [**]% for each month thereafter, and (4) with respect to Distribution Dates from April 2010 and thereafter, [**]%. The Cumulative Loss Test for Group 2 will be failed on a Distribution Date if the Cumulative Loss Percentage of Pool 2 equals or exceeds (1) with respect to Distribution Dates from [Month/Year] through [Month/Year], inclusive, [**]% in the first month, plus an additional [**]% for each month thereafter, (2) with respect to Distribution Dates from [Month/Year] through [Month/Year], inclusive, [**]% in the first month, plus an additional [**]% for each month thereafter, (3) with respect to Distribution Dates from [Month/Year] through [Month/Year], inclusive, [**]% in the first month, plus an additional [**]% for each month thereafter, (4) with respect to Distribution Dates in [Month/Year] and thereafter, [**]%.
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Cumulative Loss Test. The Cumulative Loss Test will be failed on a Distribution Date if the Cumulative Loss Percentage equals or exceeds (1) with respect to each Distribution Date from [month of first Distribution Date] 2003 through [month of Issue Date] 2004, inclusive, __%, (2) with respect to each Distribution Date from _____ 2004 through _____ 2005, inclusive, __%, (3) with respect to each Distribution Date from _____ 2005 through _____ 2006, inclusive, __%, (4) with respect to each Distribution Date from _____ 2006 through _____ 2007, inclusive, __%, and (5) with respect to each Distribution Date thereafter, __%. Current Class A Enhancement Level. As of any Distribution Date, the Current Class A Enhancement Level is the percentage obtained by dividing (a) the sum of the Class M Principal Balance, the Class B Principal Balance and the Overcollateralization Amount (after giving effect to any distributions in reduction of Principal Balance and the allocation of any losses on such date) by (b) the Pool Balance as of the last day of the related Collection Period. Cut-Off Date. The Cut-Off Date is ________ 1, 2000. Definitive Certificates. The Class A-__, Class A-__, [Class CE and Class P] Certificates and the Residual Certificates will be issued in fully registered certificated form. Delinquency Test. The Delinquency Test will be failed on a Distribution Date if the Loan Balance of the Mortgage Loans delinquent 60 days or more (including, for this purpose, Mortgage Loans in foreclosure and real estate owned by the Trust as a result of Mortgagor default), as a percentage of the Loan Balance of all Mortgage Loans, is greater than the product of __% and the Current Class A Enhancement Level.
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Related to Cumulative Loss Test

  • Minimum Call-Back Time All employees who are called out and required to work in an emergency outside their regular working hours shall be paid for a minimum of two (2) hours at overtime rates and shall be paid from the time they leave home to report for duty until the time they arrive back upon proceeding directly from work.

  • Consolidated Excess Cash Flow Subject to Section 2.14(g), if there shall be Consolidated Excess Cash Flow for any Fiscal Year beginning with the Fiscal Year ending December 31, 2018, the Borrowers shall, within ten Business Days of the date on which the Borrowers are required to deliver the financial statements of Holdings and its Restricted Subsidiaries pursuant to Section 5.1(b), prepay the Loans and/or certain other Obligations as set forth in Section 2.15(b) in an aggregate amount equal to (i) 50% of such Consolidated Excess Cash Flow minus (ii) voluntary prepayments of the Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) made during such Fiscal Year (excluding repayments of revolving First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) except to the extent the applicable revolving credit commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) (as opposed to the face amount thereof)); provided, if, as of the last day of the most recently ended Fiscal Year, the Consolidated Total Net Leverage Ratio (determined for such Fiscal Year by reference to the Compliance Certificate delivered pursuant to Section 5.1(c) calculating the Consolidated Total Net Leverage Ratio as of the last day of such Fiscal Year) shall be (A) less than or equal to 4.50:1.00 but greater than 4.00:1.00, the Borrowers shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to (1) 25% of such Consolidated Excess Cash Flow minus (2) voluntary repayments of the Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) made during such Fiscal Year (excluding repayments of revolving First Lien or Refinanced Debt (as defined in the First Lien Credit Agreement) except to the extent the applicable revolving credit commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) (as opposed to the face amount thereof)) and (B) less than or equal to 4.00:1.00, the Borrowers shall not be required to make the prepayments and/or reductions otherwise required by this Section 2.14(e).

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Cash Flow Coverage Ratio The ratio of (a) the Company’s Cash Flow to (b) the sum of (i) the Company’s consolidated Interest Expense plus (ii) the Company’s scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.0. Compliance with the ratio will be tested as of the last day of each month, with Cash Flow and Interest Expense being calculated for the twelve months then ended.

  • Subordinate Certificate Loss Coverage; Limited Guaranty Subject to subsection (c) below, prior to the later of the third Business Day prior to each Distribution Date or the related Determination Date, the Master Servicer shall determine whether it or any Sub-Servicer will be entitled to any reimbursement pursuant to Section 4.02(a) on such Distribution Date for Advances or Sub-Servicer Advances previously made, (which will not be Advances or Sub-Servicer Advances that were made with respect to delinquencies which were subsequently determined to be Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy Losses or Extraordinary Losses) and, if so, the Master Servicer shall demand payment from Residential Funding of an amount equal to the amount of any Advances or Sub-Servicer Advances reimbursed pursuant to Section 4.02(a), to the extent such Advances or Sub-Servicer Advances have not been included in the amount of the Realized Loss in the related Mortgage Loan, and shall distribute the same to the Class B Certificateholders in the same manner as if such amount were to be distributed pursuant to Section 4.02(a).