Charge-Off definition

Charge-Off means, for any period with respect to a particular Shared-Loss Asset, the amount of a loan or portion of a loan classified as “Loss” under the Examination Criteria as effected by the Assuming Institution and reflected on its Accounting Records for such period, consisting solely of a charge-off of the following:

Charge-Off means any Receivable that has or should have been (in accordance with the Credit and Collection Policy) charged off or written off by the Seller.

Charge-Off. Original Appraised Value Current appraised value based upon "drive by" Amount of outstanding first lien Estimate of Foreclosure Costs Broker Fees Legal Fees Repair and Miscellaneous Expenses Projected Marketing Period Estimate of Loss on Foreclosure and Liquidation Capitalized terms not otherwise defined herein have the meanings set forth in the Pooling and Servicing Agreement.

Examples of Charge-Off in a sentence

• In the event that such reduction would cause the Class B Investor Interest to be a negative number, the Class B Investor Interest will be reduced to zero, and the Class A Investor Interest will be reduced by the amount by which the Class B Investor Interest would have been reduced below zero, but not by more than the Class A Investor Default Amount for such Transfer Date (a "Class A Investor Charge-Off").

• In the event that the Receiver does not make any payments with respect to any Charge-Off of a Shared-Loss Asset pursuant to this Section 2.1 or determines that a payment was improperly made, the Assuming Institution and the Receiver shall, upon final resolution, make such accounting adjustments and payments as may be necessary to give retroactive effect to such corrections.

• Any dispute as to whether a Charge-Off of a Shared-Loss Asset was made in accordance with the Examination Criteria shall be finally resolved by the Assuming Institution’s Chartering Authority.

• In the event that the Receiver does not make any payments with respect to any Charge-Off of a Shared-Loss Asset pursuant to this Section 2.1 or determines that a payment was improperly made, the Assuming Bank and the Receiver shall, upon final resolution, make such accounting adjustments and payments as may be necessary to give retroactive effect to such corrections.

• The Assuming Institution may claim each Charge-Off and each item of expenditure, income, gain or loss only on the Quarterly Certificate for the period in which such Charge-Off, expenditure, income, gain or loss was incurred.

More Definitions of Charge-Off

Charge-Off. Original Principal Balance Outstanding Principal Balance Mortgage Loan Rate Accrued Interest at time of "charge off" Unreimbursed Servicing Advances at time of "charge off" Unreimbursed Delinquency Advances at time of "charge off" # of days in default at time of "charge off" Original Appraised Value Current appraised value based upon "drive by" Amount of outstanding first lien Estimate of Foreclosure Costs Broker Fees Legal Fees Repair and Miscellaneous Expenses Projected Marketing Period Estimate of Loss on Foreclosure and Liquidation Capitalized terms not otherwise defined herein have the meanings set forth in the Pooling and Servicing Agreement.

Charge-Off means a Receivable not previously deemed a Defaulted Receivable that is written-off by the Servicer or should, in accordance with the Credit and Collection Policy, be written-off.

Charge-Off means a direct reduction (credit) to the carrying amount of a loan carried at amortized cost resulting from uncollectability with a corresponding reduction (debit) of the ALLL. Recoveries of loans previously charged off should be recorded when received.

Charge-Off means the extent to which any Transferred Receivable is subject to any Dilution Factor described in clause (a) of the definition thereof.

Charge-Off. ’ means a direct reduction (credit) to the carrying amount of a loan car- ried at amortized cost resulting from uncollectability with a corresponding reduc- tion (debit) of the ALLL. Recoveries of loans previously charged off should be recorded when received.

Charge-Off means the treatment of a receivable balance by a creditor as a loss or expense because payment is unlikely.1Those asset classes that are not subject to governmental requirements for Charge-Off or have not otherwise adopted the Charge-Off accounting standard should use Default.

Charge-Off means the treatment of a receivable balance as a loss or expense because payment is unlikely.