Actuarial Advance definition

Actuarial Advance means, with respect to an Actuarial Receivable, the amount, as of the last day of a Collection Period, which is required to be advanced with respect to such Actuarial Receivable by the Servicer pursuant to Section 4.4(a).
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Actuarial Advance means the amount, as of the last day of a Collection Period, which the Servicer is required to advance on the respective Actuarial Receivable pursuant to Section 4.4(a) of the Sale and Servicing Agreement.
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Actuarial Advance means, with respect to an Actuarial Receivable, the amount, as of the last day of a Collection Period, which is required to be advanced with respect to such Actuarial Receivable by the Servicer pursuant to Section 4.4(a). "Actuarial Method" shall mean the method of allocating a fixed level payment on a Receivable between principal and interest, pursuant to which the portion of such payment that is allocated to interest is the product of one-twelfth (1/12) of the APR on the Receivable multiplied by the scheduled principal balance of the Receivable. "Actuarial Receivable" shall mean any Receivable under which the portion of a payment with respect thereto allocable to interest and the portion of a payment with respect thereto allocable to principal is determined in accordance with the Actuarial Method. "Advance" shall mean an Actuarial Advance or a Last Scheduled Payment Advance, as the context may require. "Affiliate" shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common control with such specified Person. For purposes of this definition, "control" when used with respect to any specified Person shall mean the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to the foregoing. "Agreement" shall have the meaning specified in the recitals hereto. "Amount Financed" shall mean, with respect to a Receivable, the aggregate amount advanced under such Receivable toward the purchase price of the Financed Vehicle and any related costs. "Applicable Tax State" shall mean, as of any date of determination, each state as to which any of the following is then applicable: (a) a state in which the Owner Trustee maintains the Corporate Trust Office, (b) a state in which the Owner Trustee maintains its principal executive offices, and (c) a state in which the Servicer regularly conducts servicing and collection operations other than purely ministerial activities and which relate to a material portion of the Receivables. "APR" of a Receivable shall mean the annual percentage rate of interest stated in the Contract related to such Receivable. "Authorized Officer" shall mean any officer within the Corporate Trust Office of the Indenture Trustee or the Owner Trustee, as the case may be, including any vice president,...
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Examples of Actuarial Advance in a sentence

  • With respect to each Actuarial Receivable, the Actuarial Advance shall increase Outstanding Actuarial Advances.

  • Next, subject to the following sentence, the Servicer shall make an advance of any remaining shortfall (such amount, an "Actuarial Advance").

  • The Servicer will be obligated to make an Actuarial Advance in respect of an Actuarial Receivable only to the extent that the Servicer, in its sole discretion, shall determine that the Actuarial Advance shall be recoverable from subsequent collections or recoveries on any Actuarial Receivable.

  • If the Servicer shall determine that an Outstanding Actuarial Advance with respect to any Actuarial Receivable shall not be recoverable, the Servicer shall be reimbursed from any collections made on other Receivables in the Trust, and Outstanding Actuarial Advances with respect to such Actuarial Receivable shall be reduced accordingly.

  • With respect to each Actuarial Receivable, the Actuarial Advance will increase Outstanding Actuarial Advances.

  • If the Servicer subsequently determines that an Outstanding Actuarial Advance with respect to any Actuarial Receivable will not be recoverable, the Servicer will be reimbursed from any collections made on other Receivables in the Trust, and Outstanding Actuarial Advances with respect to such Actuarial Receivable will be reduced accordingly.

  • The Servicer will make an advance of any remaining shortfall (such amount, an "Actuarial Advance"), to the extent that the Servicer, in its sole discretion, determines that the Actuarial Advance will be recoverable from subsequent collections from the related obligor or any related Liquidation Proceeds.

  • If the Servicer shall determine that an Out standing Actuarial Advance with respect to any Actuarial Receivable shall not be recoverable, the Servicer shall be reimbursed from any collections made on other Receivables in the Trust, and Outstanding Actuarial Advances with respect to such Actuarial Receivable shall be reduced accordingly.

  • The Servicer will make an advance of any remaining shortfall (such amount, an "Actuarial Advance"), to the extent that the Servicer, in its sole discretion, determines that the Actuarial Advance will be recoverable from subsequent collections from the related obligor or recoveries on any Receivable.

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More Definitions of Actuarial Advance

Actuarial Advance means, with respect to any Due Period and Actuarial Contract that was Outstanding as of the first day of such Due Period, the amount, if any, of the Monthly Payment allocable to interest that was not timely paid.
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Actuarial Advance means an advance in respect of principal or interest on an Actuarial Receivable in the amount determined as set forth in Section 5.04(a).
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Actuarial Advance means the amount, as of the last day
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Related to Actuarial Advance

  • Actuarial opinion means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with subrule 5.34(6) and with applicable actuarial standards.

  • Actuarial equivalent means a benefit of equal value when

  • Actuarial valuation means a mathematical determination of

  • Actuarial Receivable means any Receivable under which the portion of a payment with respect thereto allocable to interest and the portion of a payment with respect thereto allocable to principal is determined in accordance with the Actuarial Method.

  • Actuarial reserve means a method of financing a pension or

  • Actuarial certification means a written statement by a member of the American Academy of

  • Actuarial method means the method of allocating a fixed level monthly payment on an obligation between principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of (a) 1/12, (b) the fixed annual rate of interest on such obligation and (c) the outstanding principal balance of such obligation.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Acceptable Appraisal means, with respect to an appraisal of Inventory, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent, and (c) the results of which are satisfactory to Agent, in each case, in Agent’s Permitted Discretion.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • relevant benefit means any benefit specified in paragraph 21(2); and

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Maturity Benefit means the amount of benefit which is payable on maturity i.e. at the end of the Policy term, as stated at the inception of the Policy contract and specified in the Policy Schedule

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarially equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or qualified joint and survivor annuity) to which the Member would be entitled under the terms of the plan assuming:

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Actuarial Standards Board means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice.

  • Termination Benefit means the benefit set forth in Article 7.

  • Normal Retirement Benefit means the benefit described in Section 2.1.