Net Credit Losses definition
Net Credit Losses has, with respect to any Warehouse Facility, the meaning specified in the related Receivables Financing Agreement.
Net Credit Losses means, for any period, the actual aggregate amount of principal of Indirect Loans charged off prior to the application of the Dealer Discount or reserves during such period LESS the aggregate amount of Recoveries on Indirect Loans during such period.
Net Credit Losses means, for any Monthly Period, an amount equal to the excess, if any, of the estimated losses to be incurred in respect of all Receivables written off by the Servicer in accordance with the Credit and Collection Policy during such Monthly Period over an amount equal to all amounts recovered during such Monthly Period in respect of Receivables written off by the Servicer in accordance with the Credit and Collection Policy during prior Monthly Periods, which amounts exceed the amounts that the Servicer estimated would be recovered in respect of such Receivables. For the avoidance of doubt, “Net Credit Losses” includes the portion of any Receivable which has been written off as uncollectible by the Servicer net of any recoveries thereon.
More Definitions of Net Credit Losses
Net Credit Losses means, for any Monthly Period, an amount equal to the excess, if any, of (i) the estimated losses to be incurred in respect of all Receivables (other than Excluded Home Receivables) written off by the Servicer in accordance with the Credit and Collection Policy during such Monthly Period over (ii) an amount equal to all amounts recovered during such Monthly Period in respect of Receivables (other than Excluded Home Receivables) written off by the Servicer in accordance with the Credit and Collection Policy during prior Monthly Periods, which amounts exceed the amounts that the Servicer estimated would be recovered in respect of such Receivables (other than Excluded Home Receivables). For the avoidance of doubt, “Net Credit Losses” includes the portion of any Receivable (other than any Excluded Home Receivable) which has been written off as uncollectible by the Servicer net of any recoveries thereon.
Net Credit Losses. For any Accounting Period, the difference between Gross Credit Losses and Recoveries, calculated in accordance with GAAP. NET WORTH: the total of shareholders' equity (including capital stock, additional paid-in capital, and retained earnings) plus Subordinated Debt, less (i) the total amount of loans and debts due from Subsidiaries, shareholders or officers, and (ii) the total amount of any intangible assets, including without limitation, goodwill.
Net Credit Losses means, with respect to any Settlement Period, the Outstanding Balance of Receivables comprising the Servicing Portfolio (without duplication, net of Recoveries received by the Servicer) which became Charged-Off Receivables during such Settlement Period, calculated in a manner consistent with the calculations of net losses in Arcadia's Annual Report filed with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 1997.
Net Credit Losses for any Accounting Period, the difference between Gross Credit Losses and Recoveries. Net Worth: the total of shareholders' equity (including capital stock, additional paid-in capital, and retained earnings) plus Subordinated Debt, less (i) the total amount of loans and debts due from Affiliates, shareholders, officers, or employees, and (ii) the total amount of any intangible assets, including without limitation goodwill. Optional Contract Debtor Insurance: any insurance, other than Required Contract Debtor Insurance which insures a Financed Vehicle or a Contract Debtor's obligations under a Contract, including but not limited to credit life, credit health, credit disability, unemployment insurance; and any service contract, mechanical breakdown coverage, warranty, or extended warranty for a Financed Vehicle.
Net Credit Losses. For any Accounting Period, the difference between Gross Credit Losses and Recoveries, calculated in accordance with GAAP. NET WORTH: the total of shareholders' equity (including capital stock, additional paid-in capital, and retained earnings) plus Subordinated Debt, less (i) the total amount of loans and debts due from Affiliates, shareholders, officers, or employees, and (ii) the total amount of any intangible assets, including without limitation goodwill. OPTIONAL CONTRACT DEBTOR INSURANCE: any insurance, other than Required Contract Debtor Insurance which insures a Financed Vehicle or a Contract Debtor's obligations under a Contract, including but not limited to credit life, credit health, credit disability, unemployment insurance; and any service contract, mechanical breakdown coverage, warranty, or extended warranty for a Financed Vehicle.
Net Credit Losses means, for any Monthly Period, an amount equal to the excess, if any, of the estimated losses to be incurred in respect of all Receivables written off by the Servicer in accordance with the Credit and Collection Policy during such Monthly Period over an amount equal to all amounts recovered during such Monthly Period in respect of Receivables written off by the Servicer in accordance with the Credit and Collection Policy during prior Monthly Periods, which amounts exceed the amounts that the Servicer estimated would be recovered in respect of such Receivables.