Credit Losses definition
Credit Losses means, for any Collection Period, an amount equal to the excess of (a) the sum of the Securitization Value for all Included Units charged-off (i.e., that became Terminated Units before maturity of the related Lease and for which all scheduled payments thereunder have not been made) during that Collection Period over (b) the sum of Sales Proceeds and Recoveries received by the Servicer with respect to charged-off Units during that Collection Period.
Credit Losses means, for any Collection Period, an amount equal to the excess of (a) the sum of the Securitization Value for all Included Units that became Defaulted Units during that Collection Period over (b) the sum of Sales Proceeds and Recoveries received by the Servicer with respect to Defaulted Units during that Collection Period.
Credit Losses. “Credit Losses” means the Charge-Offs for any loans or “real estate owned” property existing as of the date hereof for the period commencing on the date hereof and ending on the Maturity Date less any recoveries in respect of such Charge-Offs.
Examples of Credit Losses in a sentence
Refer to the “Allowance for Credit Losses” booklet of the Comptroller’s Handbook and the Interagency Policy Statement on Allowances for Credit Losses, dated April 21, 2023 (OCC Bulletin 2023- 11).
More Definitions of Credit Losses
Credit Losses means all amounts due to Bank in connection with any Card that Bank has written off as uncollectible excluding amounts due in respect of Fraudulent Transactions.
Credit Losses means any balances which remain unpaid by Other Eligible User, Participant or a Cardholder six (6) billing periods after the closing date on the Billing Statement in which the Transactions, fees and charges appeared for the reporting period.
Credit Losses means the Charge-Offs for any loans existing as of the date hereof for the period commencing on the date hereof and ending on the Maturity Date less any recoveries in respect of such Charge-Offs. Stipulated Amount $103,000,000. Determinations All determinations with respect to Credit Losses calculations for purposes of the CVRs and amounts payable in respect of the CVRs shall be made by the Loan Portfolio Committee of the Company’s Board of Directors in its sole discretion. Early Redemption The Company may redeem the CVRs at any time at a price of $0.75 per CVR. Voting rights Any modifications of the terms of the CVRs that are adverse to the holders will require the consent of the holders of a majority of the CVRs. Otherwise, no voting rights attach to the CVRs. Dividend rights None.
Credit Losses means the charge-offs occurring after May 5, 2011 with respect to any loans outstanding as of May 5, 2011 as set forth on Schedule 1 to this Agreement for the period commencing on May 5, 2011 and ending on the Maturity Date less any recoveries in respect of such charge-offs.
Credit Losses means all amounts due to Bank in connection with any and all Cards or Accounts that Bank has written off as uncollectible, excluding amounts due in respect of Fraudulent Transactions.
Credit Losses means (i) any losses directly resulting from a default of an Obligor under any Transferred Loan after the Closing, (ii) any partial or full charge off (calculated as the difference between the realizable value of the collateral and sources of repayment of the Transferred Loan and the book value of the Transferred Loan) of such Transferred Loan and (iii) any impairment, reserve or provision for such Transferred Loan but only to the extent relating to the nonperforming or nonaccrual status or other creditworthiness of such Transferred Loan, consistent, in the case of clauses (ii) and (iii), with general industry standards and the way that Purchaser historically calculates such charge offs, impairments, reserves and provisions for comparable Loans.
Credit Losses means the aggregate net amount of any Special Approved Invoice which remains wholly or partially unpaid solely and exclusively from the financial inability of the applicable Surcharge Customer to pay the Special Approved Invoice at maturity.