Delinquency Percentage

Delinquency Percentage. Means, for each Payment Date and the related preceding Monthly Period, an amount equal to the ratio (expressed as a percentage) of (i) the aggregate balance of all 60-Day Delinquent Receivables as of the last day of the Monthly Period immediately preceding such Payment Date to (ii) the aggregate balance of Transferred Receivables as of the last day of the Monthly Period immediately preceding such Payment Date.