Charge-Offs. As of the last day of each fiscal quarter of the Borrower, the average of the amount of actual charge-offs (net of recoveries and sales of charged-off receivables) incurred during each fiscal month ending during the period of twelve consecutive months ending on such day shall not exceed four and one-half percent (4.50%) of the average of the amount of the Adjusted Transaction Receivables outstanding at the end of each fiscal month ending during the period of twelve consecutive months ending on such day.
Appears in 2 contracts
Samples: Credit Agreement (Advance America, Cash Advance Centers, Inc.), Credit Agreement (Advance America, Cash Advance Centers, Inc.)
Charge-Offs. As of the last day of each fiscal quarter of the Borrower, the average of the amount of actual charge-offs (net of recoveries and sales of charged-off receivablesrecoveries) incurred during each fiscal month ending during the period of twelve consecutive months ending on such day shall not exceed four and one-half percent (4.50%) of the average of the amount of the Adjusted Transaction Receivables outstanding at the end of each fiscal month ending during the period of twelve consecutive months ending on such day.
Appears in 1 contract
Samples: Amendment to Credit Agreement (Advance America, Cash Advance Centers, Inc.)
Charge-Offs. As of the last day end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending June 30, 2004, the average of the amount of actual charge-offs (net of recoveries and sales of charged-off receivablesrecoveries) incurred during each fiscal month ending during the period of twelve consecutive months ending on such day fiscal quarter shall not exceed four and one-half percent (4.50%) of the average of the amount of the Adjusted Transaction Receivables outstanding at the end of each fiscal month ending during the period of twelve consecutive months ending on such dayfiscal quarter.
Appears in 1 contract
Samples: Credit Agreement (Advance America, Cash Advance Centers, Inc.)
