Deficiency Balance means, with respect to any Receivable, any deficiency balance, charged-off amount, Principal Balance, accrued interest and/or fees and any Related Security; provided, that such amounts and Related Security relate to a Receivable which is a Defaulted Receivable.

Deficiency Balance shall have the meaning given in Section 22.1(b) of the Lease Agreement.

Deficiency Balance means the remaining unpaid principal balance of any Note purchased hereunder after crediting to it the proceeds of a foreclosure sale.

Examples of Deficiency Balance in a sentence

In addition, the Servicer, in its sole discretion, may in accordance with its Customary Servicing Practices sell any Receivable’s Deficiency Balance.
To facilitate any such sale the Servicer may, in accordance with its Customary Servicing Practices, purchase from the Issuer such Receivable’s Deficiency Balance for a purchase price equal to the proceeds received by the Servicer in an arm’s-length transaction for the sale of such Receivable’s Deficiency Balance.
The Servicer is authorized to take any and all actions necessary or appropriate on behalf of the Issuer to evidence the sale of the Financed Vehicle at a public or private sale or the sale of the Receivable to the Servicer to facilitate a Deficiency Balance sale pursuant to the provisions of this paragraph, in each case, free from any Lien or other interest of the Issuer or the Indenture Trustee.
The Servicer may, in accordance with its Customary Servicing Practices, waive any Deficiency Balance.
In addition, the Servicer, in its sole discretion, may in accordance with its Customary Servicing Practices sell any Receivable’s Deficiency Balance, sell Defaulted Receivables and sell Receivables in bankruptcy.

More Definitions of Deficiency Balance

Deficiency Balance shall have the meaning given to such term in Section 22.1(b) of the Lease.

Deficiency Balance means the outstanding Principal Balance of a Defaulted Receivable remaining unpaid after the application, to reduce the Principal Balance of such Receivable, of all Liquidation Proceeds and Insurance Proceeds received for such Defaulted Receivable and after all proceeds have been received from the disposition of the related Financed Vehicle.

Deficiency Balance means any Defaulted Receivable regarding which the related Amount Financed after receipt of any Liquidation Proceeds (other than any Liquidation Proceeds related to the sale of a Deficiency Balance) with respect thereto is greater than zero.

Deficiency Balance means the remaining unpaid principal balance of any Note or Loan sold or contributed pursuant to the Transfer Agreement (or, in the case of Receiver Acquired Property for which the foreclosure or other acquisition event occurred (with expiration of any relevant Redemption Period) on or before the Cut-Off Date, the remaining balance of the applicable Underlying Loan) after crediting to it the proceeds of any foreclosure sale, deed in lieu of foreclosure or any other exercise of remedies with respect to Collateral (or, in the case of any Receiver Acquired Property described in the preceding parenthetical, the applicable collateral for such Underlying Loan, including such Receiver Acquired Property).

Deficiency Balance means the amount owed by the consumer under a consumer finance agreement at the time of a total loss of the consumer's motor vehicle that was collateral securing the consumer finance agreement, calculated in accordance with the terms of the finance agreement.

Deficiency Balance has the meaning given in Contribution Agreement. “Depository” or “DTC” means the Depository Trust Company, its nominees, and their respective successors.

Deficiency Balance means the disputed account balance allegedly remaining after the repossession and disposition of a Member’s vehicle and the application of the proceeds of the sale to that person’s account, plus the accrued interest and other charges, minus any payments made by the Member post-repossession, but does not include the accounts of Members who redeemed or reinstated their account and who did not have a subsequent repossession during the Class Period.