Loan Loss Reserve Amount definition

Loan Loss Reserve Amount means, on any date of determination, the product of (i) the Outstanding Receivables Balance of all Eligible Receivables at such time, times (ii) 12.0%, times (iii) a fraction, expressed as a percentage, (a) the numerator of which is equal to the number of days remaining in the current Monthly Period and (b) the denominator of which is equal to 360.
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Loan Loss Reserve Amount means the sum of (a) $2.3 million and (b) the Loan Loss Reserve Adjustment Amount.
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Loan Loss Reserve Amount means, as of the Measurement Time, the sum of: (a) the product of (i) the aggregate unpaid outstanding principal balance of all Extensions of Credit originated on or before the Reference Balance Sheet Date multiplied by (ii) 2.8%; plus (b) the product of (i) the aggregate unpaid outstanding principal balance of all Extensions of Credit originated from July 1, 2019 through the Closing Date multiplied by (ii) 0.8%. For the avoidance of doubt, (I) the calculation of “Loan Loss Reserve Amount” shall not include any loan loss reserves or other amounts attributable to the Non-Performing Assets that have been sold or otherwise transferred pursuant to the Seller Non-Performing Assets Transfers, and (II) any Extension of Credit that is a commercial line of credit or credit card shall be deemed to have been originated on or before the Reference Balance Sheet Date if the commitment for such Extension of Credit or credit card relationship existed as of the Reference Balance Sheet Date even if such Extension of Credit has been renewed or drawn at any time following the Reference Balance Sheet Date. In the event that any partial charge-off is taken with respect to any Extension of Credit originated on or before the Reference Balance Sheet Date, the Loan Loss Reserve Amount applicable to such Extension of Credit shall be the lower of (1) of 2.8% of the outstanding unpaid principal balance of such Extension of Credit as of the Closing Date and (2) (x) 2.8% of the outstanding unpaid principal balance of such Extension of Credit as of the Reference Balance Sheet Date, less (y) 2.8% of any principal payments made after the Reference Balance Sheet Date through the Closing Date, less (z) any partial charge-off taken; provided that no such Loan Loss Reserve Amount may be less than zero ($0). In the event that any partial charge-off is taken with respect to any Extension of Credit originated from July 1, 2019 through the Closing Date (any such Extension of Credit, a “Specified Charge-Off Loan”), the Loan Loss Reserve Amount applicable to such Extension of Credit shall be (A) 0.8% of the outstanding unpaid principal balance of such Extension of Credit as of the Closing Date, less (B) any partial charge-off taken; provided that no such Loan Loss Reserve Amount may be less than zero ($0).
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Examples of Loan Loss Reserve Amount in a sentence

  • After the Lending Period, Michigan SAVES shall have no obligation to make additional contributions to the Lender's Reserve Fund Balance other than the Initial Loan Loss Reserve Amount.

  • This is a web based reporting system where details of crashes recorded in the field are stored in a database.

  • Based on the Initial Loan Loss Reserve Amount (as defined in Section 3.1) of $160,000, the parties anticipate that Lender will be able to make at least $320,000 of Program Loans for which the $160,000 would represent a fifty percent (50%) reserve fund on the terms of this Agreement.

  • Within five business days of the date of this Agreement, Town shall deposit $50,000.00 (the "Initial Loan Loss Reserve Amount") as the initial Bank's Reserve Fund Balance.

  • Town shall have no obligation to make additional contributions after the Initial Loan Loss Reserve Amount.


More Definitions of Loan Loss Reserve Amount

Loan Loss Reserve Amount in the Purchase Agreement is hereby amended and restated in its entirety as follows:
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Related to Loan Loss Reserve Amount

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Available Reserve Account Amount means, for any Transfer Date, the lesser of (a) the amount on deposit in the Reserve Account (after taking into account any interest and earnings retained in the Reserve Account pursuant to Section 4.10(b) on such date, but before giving effect to any deposit made or to be made pursuant to subsection 4.4(a)(ix) to the Reserve Account on such date) and (b) the Required Reserve Account Amount.