Default Ratio

Default Ratio. Shall exceed three and one-half percent (3.50%)

Default Ratio. The ratio (expressed as a percentage) computed as of the last day of each Fiscal Month by dividing: (a) the aggregate Outstanding Balance of all Pool Receivables that became Defaulted Receivables during such month (other than Receivables that became Defaulted Receivables as a result of an Insolvency Proceeding with respect to the Obligor thereof during such month) by (b) the Credit Sales during the month that is (i) seven (7) Fiscal Months before such month for Receivables the Originator of... which is VWR and (ii) five (5) Fiscal Months before such month for all other Receivables View More

Default Ratio. Means, for any Calculation Period, the ratio (expressed as a percentage) computed as of the most recent Month End Date of (i) the aggregate Unpaid Balance of all Receivables that became Defaulted Receivables during such Calculation Period, divided by (ii) the aggregate amount of sales by the Originators giving rise to Receivables in the fourth month prior to the month of determination.