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.

  • Therefore, applied finite element models are optimized to exclude any unfavorable influence of these numerical problems.

  • Payment of the portion of the Net Loan Loss Reserve Amount due shall be made within the thirty (30) day period commencing upon the expiration of twelve (12) months following the effective date of the Executive’s termination of employment.

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

  • 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.


More Definitions of Loan Loss Reserve Amount

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
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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

  • 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.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Professional Fee Reserve Amount means the total amount of Professional Fee Claims estimated in accordance with Article II.A.2(c) of the Plan.