Loan Loss Reserve definition

Loan Loss Reserve. The loan loss reserve, calculated in accordance with Credit Acceptance’s accounting policies set forth in its periodic reports filed with the Securities and Exchange Commission which shall be equal to the amount that reduces the net asset value to the discounted value of forecasted future cash flows discounted at (i) for “impaired Pools”, the interest rate established at inception of the Loans, and (ii) for Pools that are not impaired, the current forecasted interest rate, at the end of the most recent Collection Period (it being understood that a Pool is an “impaired Pool” if the current forecasted cash flows are less than estimated/forecasted cash flows at inception).

Examples of Loan Loss Reserve in a sentence

Any prepayment permitted by the DNRC must be accompanied by payment of accrued interest and Administrative Expense Surcharge and Loan Loss Reserve Surcharge to the date of prepayment on the amount of principal prepaid.
The following table summarizes the PAs’ Loan Loss Reserve Financing Programs.
When new Pools or Purchased Loans are pledged to the Collateral Agent, the related Funding Notice shall provide (A) the aggregate Outstanding Balance of the Contracts to be pledged to the Collateral Agent on the related Funding Date; (B) the Aggregate Outstanding Eligible Loan Balance; and (C) the Aggregate Outstanding Eligible Loan Net Balance; each as of the applicable Cut-off Date and as reported in the Loan Servicing System or as a product of the Loan Loss Reserve analysis.
Thereafter, on the date of each Incremental Funding in the Revolving Period, the consideration for the Loans and other Conveyed Property conveyed on the date of such Incremental Funding will equal the Outstanding Balance of the Loans conveyed less the Loan Loss Reserve in each case as in effect as of the date of such Incremental Funding.
Interest, Administrative Expense Surcharge, and Loan Loss Reserve Surcharge shall be calculated on the basis of a year of 360 days comprising 12 months of 30 days each.

Loan Loss Reserve means the loan loss reserve, calculated in accordance with Credit Acceptance’s periodic analysis of the performance of each Dealer, maintained against the Dealer Loans of such Dealer, consistent with the Servicer’s practices as such practices may be modified in order to comply with generally accepted accounting principles in effect from time to time.

Loan Loss Reserve means a pool of capital set aside to reimburse a private lender if a customer defaults on a loan, up to an agreed-upon percentage of loans originated by the private lender.

Loan Loss Reserve. With respect to each Watchlist Loan, an amount available to cover any losses with respect to such Watchlist Loan equal to the amounts set forth in the Credit and Collection Policy.

Loan Loss Reserve means that amount reserved for possible loan losses as reflected in the financial statements of Cole Xxxxxx.

Loan Loss Reserve means an allowance of reserve funds established and maintained by Cavalier Acceptance, through charges made against operating income, to be used for the purpose of absorbing losses from Cavalier Acceptance's loan portfolio.