Loss Recovery definition

Loss Recovery in relation to a Liquidated Mortgage Loan means all amounts received by or on behalf of the Trustee in respect of that Liquidated Mortgage Loan after the relevant Liquidation Date.

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Loss Recovery means for any applicable date or period, in respect of any Contract and without duplication, the amounts recovered from loss reserves and/or any payments made by any Franchisee (including by net settlement in periodic statements) or Snap-on Credit or any of its Affiliates during such Monthly Period, in each case under the related Franchisee Agreement (or, in the case of Snap-on Credit or any of its Affiliates, the applicable intercompany agreement or arrangements relating to recourse in respect of losses under such Contract) in connection with the obligation thereunder to provide recourse in respect of losses under such Contract (but excluding, for the avoidance of doubt, any Fair Market Value Recoveries).

Loss Recovery means (i) principal capital amount received by the Issuer under a Mortgage Loan to the extent that there is a Loss Reserve provided for such amount and (ii) an amount equal to a reduction of a Loss Reserve.

Examples of Loss Recovery in a sentence

• The amount of the balance in the Loss Recovery Account at the time of calculating the Incentive Allocation shall be the amount existing immediately prior to its reduction pursuant to the second clause of the second sentence of Section 5.03(c)(ii).

• For purposes of determining allocations, including calculating the Incentive Allocation and the balance in a Capital Account's Loss Recovery Account, any Investor-Related Taxes related to a Limited Partner shall be deemed distributed from the Capital Account(s) of such Limited Partner to such Limited Partner and shall not be deemed to be expenses that reduce Net Capital Appreciation, increase Net Capital Depreciation or increase the balance of the Loss Recovery Account.

• For this purpose, pro rata portions of the Positive Allocation Change and the Preferred Return for the Allocation Period, and any balance in the Loss Recovery Account, shall be deemed associated with the portion of the Interest repurchased, and there shall be a corresponding reduction made in the Positive Allocation Change, Preferred Return and Loss Recovery Account balance (if any) associated with the remaining Interest.

• The Fund will also pay to the Adviser an incentive fee (the “Incentive Fee”) calculated and payable quarterly in arrears equal to 10% of the excess, if any, of (i) the net profits of the Fund for the relevant period over (ii) the then balance, if any, of the Loss Recovery Account (as defined below).

• All the Company policies include an Uninsured Loss Recovery service as standard.

• Should it be necessary to make such a claim, full details of the losses must be provided to the Insurance Section who will forward all details to the Council’s Uninsured Loss Recovery agents.

• Additional Capital Contributions shall not affect any Loss Recovery Account.

• All Company policies include an Uninsured Loss Recovery Service as standard.

• The Advisory Fee and Incentive Fee accruals (including the calculation of the Loss Recovery Account for the Incentive Fee) shall commence as of the first month-end following the date the Fund’s registration statement on Form N-2 is declared effective.

• Incentive Allocation With respect to each Member, 20% of the amount, determined as of the close of each Allocation Period with respect to such Member, by which such Member's Positive Allocation Change for such Allocation Period, if any, exceeds any positive balance in such Member's Loss Recovery Account as of the most recent prior date as of which any adjustment has been made thereto.

More Definitions of Loss Recovery

Loss Recovery shall be equal to the excess of (A) the aggregate book value of the Designated Loans at December 31, 2005, minus the aggregate of any loan reserves generally or specifically allocated to one or more of the Designated Loans at December 31, 2005 plus the aggregate principal collections with respect to the Designated Loans during the period from August 31, 2002 through December 31, 2005, over (B) the aggregate book value of the Designated Loans at August 31, 2002, minus the aggregate of any loan reserves generally or specifically allocated to one or more of the Designated Loans at August 31, 2002. "Designated Loans" shall mean those loans classified by the FDIC as substandard, doubtful, or loss during the period of time from July 1, 2002 through the date hereof and any related credits, as shall be agreed upon by the parties. Amounts payable under Clauses (A) and (B) above are referred to as "Earnout Amounts." Earnout Amounts will become payable within 60 days following December 31, 2005 in the case of Clause (A) and 10 business days following the end of any calendar quarter in which Earnout Amounts under Clause (B) are received. For purposes of paying Earnout Amounts, shares of TSFG common stock will be valued based on the average of the last five trading days in the calendar quarter immediately preceding payment. In the event that amounts become payable under Clause (B) with respect to a Designated Loan, appropriate steps shall be taken to cause such Designated Loan to be removed from the calculations associated with Clause (A). In this structure, TSFG, as a shareholder of RFC, would be treated as any other shareholder (and, accordingly, would be entitled to its pro rata share of any distributions made to RFC shareholders). The issuance of the shares of TSFG common stock in connection with the Transaction shall be registered with the Securities and Exchange Commission and with any necessary state securities commissions. Outstanding options to purchase RFC common stock would not be affected by the Transaction.