Spread Account Increase Condition

Example Definitions of "Spread Account Increase Condition"
Spread Account Increase Condition. Means as of the Servicer Report Date with respect to each Collection Period, the three month average of the Delinquency Ratios for such Collection Period and the two Collection Periods immediately preceding such Collection Period is greater than the level specified for such month in the following table: Collection Period Delinquency Ratio February 2005 – May 2005 1.60 % June 2005 1.75 % July 2005 – October 2005 2.25 % November 2005 – January 2006 3.25 % ... February 2006 – April 2006 3.00 % May 2006 – September 2006 3.40 % October 2006 4.00 % November 2006 – January 2007 4.50 % February 2007 – May 2007 3.40 % June 2007 – September 2007 5.00 % October 2007 5.50 % November 2007 – January 2008 6.00 % February 2008 – May 2008 5.00 % June 2008 and thereafter 6.00 % provided, that a Spread Account Increase Condition shall be deemed to have been cured if, as of the Servicer Report Date with respect to each of the three (3) consecutive Collection Periods following the occurrence of a Spread Account Increase Condition, the average of the Delinquency Ratios for such Collection Periods is less than the percentage specified above for the applicable Collection Period. View More Arrow
Found in Onyx Acceptance Owner Trust 2005-A contract
Spread Account Increase Condition. Means as of the Servicer Report Date with respect to each Collection Period, the three month average of the Delinquency Ratios for such Collection Period and the two Collection Periods immediately preceding such Collection Period is greater than the level specified for such month in the following table: Collection Period Delinquency Ratio February 2005 – May 2005 1.60 % June 2005 1.75 % July 2005 – October 2005 2.25 1.60 % November 2005 – 2.35 % December 2005 2.85 % January 2006 3.25 2.50 %... February 2006 – - March 2006 2.25 % April 2006 3.00 2.65 % May 2006 3.05 % June 2006 3.40 % July 2006 – September 2006 3.40 3.00 % October 2006 3.50 % November 2006 4.00 % November December 2006 – January 2007 4.50 4.40 % February 2007 – May 2007 3.40 3.00 % June 2007 3.70 % July 2007 – September 2007 5.00 % October 2007 5.50 4.60 % November 2007 – January 2008 6.00 5.60 % February 2008 4.75 % March 2008 5.25 % April 2008 – May 2008 5.00 5.15 % June 2008 5.20 % July 2008 – September 2008 5.05 % October 2008 5.25 % November 2008 – January 2009 6.80 % February 2009 and thereafter 6.00 5.95 % provided, that a Spread Account Increase Condition shall be deemed to have been cured if, as of the Servicer Report Date with respect to each of the three (3) consecutive Collection Periods following the occurrence of a Spread Account Increase Condition, the average of the Delinquency Ratios for such Collection Periods is less than the percentage specified above for the applicable Collection Period. View More Arrow
Found in Onyx Acceptance Owner Trust 2005-B contract
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