Monthly Recoveries definition

Monthly Recoveries means, without duplication, with respect to any Receivable, any amounts (up to the aggregate principal balance of such Receivable that has been charged off in accordance with the Collection Policy) actually collected that, in accordance with the Collection Policy in effect at the time of such collection, constitute recoveries of amounts that were previously charged off with respect to such Receivable.
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Monthly Recoveries means, without duplication, with respect to any Loan, any amounts (up to the aggregate principal balance of such Loan that has been charged-off in accordance with the Credit and Collection Policy) actually collected that, in accordance with the Credit and Collection Policy in effect at the time of such collection, constitute recoveries of amounts that were previously charged-off with respect to such Loan.
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Examples of Monthly Recoveries in a sentence

  • Historically, Regional has sold a portion of its charged-off receivables on a monthly basis, the net proceeds of which sales which would be included in this transaction as Monthly Recoveries.

  • Monthly Recoveries Collections Officer Quality: Review charged-off account inventory, net charge-off expectations and forecast recovery performance and trends, review staffing levels.

Related to Monthly Recoveries

  • Collections means all cash, checks, notes, instruments, and other items of payment (including insurance proceeds, proceeds of cash sales, rental proceeds, and tax refunds).

  • Collection Period means, with respect to any Payment Date, the period commencing on the first day of the calendar month immediately preceding the month in which such Payment Date occurs (and, in the case of the first Collection Period, the period from (but excluding) the Cutoff Date) and ending on the last day of the calendar month immediately preceding the month in which such Payment Date occurs.