Defaulted Auto Loan definition

Defaulted Auto Loan means any Purchased Auto Loan (which is not a Disputed Auto Loan) which has

Defaulted Auto Loan means an Auto Loan which by its terms has more than 10% of any installment of principal or interest which is 60 or more days contractually past due.

Defaulted Auto Loan an Auto Loan (a) which by its terms has more than 10% of any installment of principal or interest which is 60 or more days contractually past due and (b) which is not a Liquidated Receivable. Defaulted Receivable: as of the end of any Due Period, (a) a Defaulted Auto Loan, (b) a Receivable as to which the proceeds of the sale of the related Financed Vehicle have been received by the Administrator or (c) a Receivable as to which the Administrator has determined (or should have determined in accordance with the Credit and Collection Policies) that no further proceeds other than from the Insurance Policies are expected to be received or that such Receivable is uncollectible and such determination was made at or prior to the last day of such Due Period.

Examples of Defaulted Auto Loan in a sentence

• If the Obligor delays its payment or the Auto Loan Receivables become Defaulted Auto Loan Receivables, the Guarantor is obligated to perform its obligation under the Guarantee Agreement.

• The aggregate portion of Insurance Deductible allocable to Defaulted Auto Loan proceeds during the Reporting Period was.

• Defaulted Auto Loans Any Purchased Auto Loan (which is not a Disputed Auto Loan)which has (a) an amount equivalent to at least six Loan Instalments overdue as indicated in the Monthly Report for the preceding Collection Period (provided, however, that any Loan Instalment which has been deferred during a Payment Holiday shall to that extent not be treated as overdue) or (b) been written-off by the Servicer in accordance with the Credit and Collection Policy (a "Defaulted Auto Loan").

• The aggregate portion of Payments collected on the Auto Loans allocable to Defaulted Auto Loan proceeds during the Reporting Period was.....................

• The aggregate portion of Payments collected on the Auto Loans allocable to Defaulted Auto Loan proceeds during the Reporting Period was.

• The aggregate portion of Payments collected on the Auto Loans allocable to Defaulted Auto Loan proceeds during the Reporting Period was ...................

• The aggregate portion of Payments collected on the Auto Loans allocable to Defaulted Auto Loan proceeds during the Reporting Period was .

• The aggregate portion of Insurance Deductible allocable to Defaulted Auto Loan proceeds during the Reporting Period was..................................

• The aggregate portion of Payments collected on the Auto Loans allocable to Defaulted Auto Loan proceeds during the Reporting Period [prin.

• No Auto Loan is a Delinquent Auto Loan or a Defaulted Auto Loan, and no default exists under the terms of such Auto Loan.

More Definitions of Defaulted Auto Loan

Defaulted Auto Loan means, for any Due Period, (a) an Auto Loan as to which a claim has been submitted under the terms of the Insurance Policies to the extent such Auto Loan is eligible for coverage thereunder, (b) an Auto Loan determined to be uncollectible in accordance with the Servicer's customary practices on or prior to the last day of such Due Period or (c) an Auto Loan repurchased by the Originator or the Sponsor or purchased by the [Master Servicer] pursuant to Section 3.03.

Defaulted Auto Loan. An Auto Loan that by its terms (i) has three or more payments due, without regard to any applicable grace period, (ii) has its first and second payments due without regard to any applicable grace period or (iii) an event of default occurs under any Auto Loan.