Loss Reserve Account definition

Loss Reserve Account means an account held by a Program Trustee or by any Participating Financial Institution that is established and maintained by the Authority for the benefit of a Participating Financial Institution for the purposes set forth in Sections 8073, 8078.6, 8078.11, 8078.18, and 8078.25.

Loss Reserve Account means one or more interest‑bearing trust accounts maintained by BDC for holding and administering the loan loss reserve pursuant to this article.

Loss Reserve Account means an account held by a Program Trustee or by any Participating Financial Institution that is established and maintained by the Authority for the benefit of a Participating Financial Institution for the purposes set forth in Section 8073.

Examples of Loss Reserve Account in a sentence

• Once per fiscal year ending June 30, the Authority shall instruct the Trustee to rebalance a Finance Provider Entity's Loss Reserve Account, if necessary, and move funds from the FPE's Loss Reserve Account into the Program Holding Account.

• The date that the Trustee has funded the Finance Provider Entity's Loss Reserve Account for the Enrolled Financing Agreement.

• Claim applications must be submitted by the Loss Reserve Account Representative to the Authority within 180 calendar days of the date of charge-off of an Enrolled Financing Agreement.

• The credit enhancement contributed to the Loss Reserve Account for each Enrolled Financing Agreement in the Program pursuant to Section 10092.9(c).

• Prior to authorizing a disbursement from a Loss Reserve Account, the Authority may request additional documentation from the PFI, PFL, or Successor Servicer thatrelated to the loan was an Enrolled Loan.

More Definitions of Loss Reserve Account

Loss Reserve Account means an account established and maintained by the Trustee at the Authority’s direction for the benefit of a Participating Financial Institution, Participating Finance Lender or Successor Servicer to hold the Loss Reserve Contribution for Enrolled Loans.

Loss Reserve Account means an account in the State Treasury or any financial institution that is established and maintained by the authority for the benefit of a financial institution participating in the Capital Access Loan Program established pursuant to this article for the purposes of the following:

Loss Reserve Account means an ac- count in the State Treasury or any financial institution that is established and maintained by the Oregon Business Development De- partment for the benefit of a financial insti- tution participating in the capital access program.

Loss Reserve Account means an account held by a Program Trustee or by any

Loss Reserve Account means an account held by a Program Trustee that is established and maintained by the Authority for the benefit of a Participating Financial Institution for the purposes set forth in Section 10056.

Loss Reserve Account means an account in the State Treasury or any financial institution that is

Loss Reserve Account means an account established and maintained by the Trustee at the Authority’s direction for the benefit of a Participating Financial Institution,