Net Payoff definition

Net Payoff means the amount, as of the Date of Loss, represented by the portion of Your unpaid balance according to the original payment schedule of the Financing Contract that is secured by the Collateral, subject to the following limitations: the amount does not include any unearned finance charges or loan charges; Delinquent Payments or skipped payments; late charges; uncollected service finance charges; refundable prepaid taxes and fees; disposition fees; termination fees; penalty fees; the recoverable portion of finance service charges or the recoverable portion of financed amounts for unearned insurance premiums or refundable charges (including but not limited to credit life, credit disability, and vehicle service coverages/warranties) that are owed by You on the Date of Loss; and amounts that are added to the financing instrument balance after the inception date of the Financing Contract.
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Net Payoff means the amount, as of the Date of Loss, represented by the portion of Your unpaid balance according to the original payment schedule of the Financing Contract that is secured by the Collateral, subject to the following limitations: the amount does not include any unearned finance charges or loan/financing charges; past due payments/skipped payments as described in the Financing Contract; late charges; uncollected service finance charges; refundable prepaid taxes and fees; disposition fees; termination fees; penalty fees; the recoverable portion of finance service charges or the recoverable portion of financed amounts for unearned insurance premiums or refundable charges (including, but not limited to credit life, and vehicle service coverages/warranties) that are owed by You on the Date of Loss; and amounts that are added to the financing instrument balance after the inception date of the Financing Contract.
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Net Payoff means the amount of the Lender's interest as of the Date of Loss, as represented by the portion of the Borrower's unpaid balance, necessary to fully satisfy the Financing Contract for the Covered Vehicle. The Net Payoff is reduced by:
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Examples of Net Payoff in a sentence

  • If a Total Loss occurs after cancellation, You will be responsible for the difference, if any, between the Vehicle’s Cash Value and Net Payoff.

  • Net Payoff - The amount of the financial institution/lender’s interest as of the date of loss, as represented by the portion of the customer/borrower’s unpaid balance according to the original payment schedule of the financing contract that is secured by collateral subject to the Limitations.

  • These Financing Contracts will not be disqualified from coverage; however, the amount by which the amount financed exceeds 125% of MSRP for New Vehicles or 125% of NADA Official Used Car Guide's "Retail" value for Used Vehicles will be subtracted from the Net Payoff.


More Definitions of Net Payoff

Net Payoff means, subject to the limitations set forth below, the amount due Us as of the Date of Total Loss. Notwithstanding any provision of Your finance or lease contract, Net Payoff shall not include any currently due and unpaid monthly payments, unearned finance charges/interest or lease charges, charges arising from Your failure to perform any term or condition of the finance or lease contract, or any fees or amounts charged in connection with the early termination of the finance or lease contract. Net Payoff shall also be reduced by any other amounts We receive and apply against Your finance or lease contract balance after the Date of Total Loss, such as a refund of unearned credit insurance premiums or refunds on vehicle service or maintenance agreements.
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Net Payoff means the amount of your interest as of the Date of Loss, as represented by the portion of the Borrower’s unpaid balance, according to the original payment schedule of the Financing Contract that is secured by the Covered Vehicle. The amount does not include any unearned interest, lease or loan charges, late charges, any Delinquent Payments, uncollected service charges, refundable prepaid taxes and fees, disposition fees, termination fees, penalty fees, the recoverable portion of financed insurance charges, or the recoverable portion of financed amounts for unearned insurance premiums or refundable charges (including, but not limited to credit life, vehicle service coverages/warranties, and guaranteed automobile protection charges) that are owed by the Borrower on the Date of Loss, amounts that are built into or added to the loan or lease balance after the inception date of the Financing Contract. The Net Payoff calculation also excludes loans or special finance offers, which may waive or delay payment of principal and/or interest.
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Net Payoff means the amount, as of the Date of Loss, represented by the portion of Your unpaid balance, according to the original payment schedule of the Financing Contract that is secured by the Collateral, subject to the following limitations: the amount does not include: any unearned finance charges or loan charges; past due payments/skipped payments as described in the Financing Contract; late charges; uncollected service finance charges; refundable prepaid taxes and fees; disposition fees; termination fees; penalty fees; amounts that are added to the Financing Contract balance after the inception date; or the recoverable portion of finance service charges, financed amounts for unearned insurance premiums, or refundable charges (including, but not limited to credit life and vehicle service coverages/warranties) that are owed to You on the Date of Loss.
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Related to Net Payoff

  • Transaction Payroll Taxes means the employer portion of any employment or payroll Taxes with respect to any bonuses, severance, option cashouts, Change in Control Payments or other compensatory payments in connection with the transactions contemplated by this Agreement, whether payable by Buyer, the Company or its Subsidiaries.

  • Gross Sales Proceeds with respect to each sale of Shares shall be the Gross Sales Price multiplied by the number of Shares sold;

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Gross receipts tax means any gross receipts, sales, use, excise, value added or any similar tax.

  • Payoff Earnings For any Distribution Date with respect to each Mortgage Loan on which a Payoff was received by the Master Servicer during the Payoff Period, the aggregate of the interest earned by the Master Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses).

  • Disposable income means that part of the income due and payable of any individual remaining

  • Per capita income means the average for the most recent three years for

  • Net Cash Payments means, with respect to any Disposition, the aggregate amount of all cash payments received by the Company and its Restricted Subsidiaries directly or indirectly in connection with such Disposition, whether at the time of such Disposition or after such Disposition under deferred payment arrangements or Investments entered into or received in connection with such Disposition (including, without limitation, Disposition Investments); provided that:

  • Production Payments and Reserve Sales means the grant or transfer by the Company or any of its Restricted Subsidiaries to any Person of a royalty, overriding royalty, net profits interest, Production Payment, partnership or other interest in Oil and Gas Properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties where the holder of such interest has recourse solely to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists or other providers of technical services to the Company or any of its Restricted Subsidiaries.

  • Scheduled Funded Debt Payments means, as of any date of determination for the Borrower and its Subsidiaries, the sum of all scheduled payments of principal on Funded Debt for the applicable period ending on the date of determination (including the principal component of payments due on Capital Leases during the applicable period ending on the date of determination).

  • Net Proceeds Amount means, with respect to any Transfer of any property by any Person, an amount equal to the difference of

  • Net Sales Proceeds means, in the case of a transaction described in clause (i)(A) of the definition of Sale, the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including all real estate commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (i)(B) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (i)(C) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction actually distributed to the Company or the Operating Partnership from the Joint Venture less the amount of any selling expenses, including legal fees and expenses incurred by or on behalf of the Company (other than those paid by the Joint Venture). In the case of a transaction or series of transactions described in clause (i)(D) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction (including the aggregate of all payments under a Mortgage on or in satisfaction thereof other than regularly scheduled interest payments) less the amount of selling expenses incurred by or on behalf of the Company, including all commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (i)(E) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (ii) of the definition of Sale, Net Sales Proceeds means the proceeds of such transaction or series of transactions less all amounts generated thereby which are reinvested in one (1) or more Assets within one hundred eighty (180) days thereafter and less the amount of any real estate commissions, closing costs, and legal fees and expenses and other selling expenses incurred by or allocated to the Company or the Operating Partnership in connection with such transaction or series of transactions. Net Sales Proceeds shall also include Refinancing Proceeds and any other amounts that the Company determines, in its discretion, to be economically equivalent to proceeds of a Sale. Net Sales Proceeds shall not include any reserves established by the Company, which shall be determined by the Board in its sole discretion.

  • Payoff Amount means with respect to a Receivable as of the close of business on the last day of a Collection Period, the remaining principal balance of such Receivable, plus accrued but unpaid interest thereon, and related fees.

  • Performing Cash Pay High Yield Securities means High Yield Securities (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semiannual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Excess Cash Amount means, as of any Excess Cash Measurement Date, (a) the total amount of Unrestricted Cash, less (b) the sum of (i) the applicable Minimum Cash Threshold hereto corresponding to such Excess Cash Measurement Date, (ii) the total amount of scheduled payments due by OEC and its Subsidiaries, taken as a whole, under (x) the New Notes and (y) any other Permitted Indebtedness in each case in the subsequent twelve (12) month period, (iii) projected expenses for the Issuer to conduct its operations during the subsequent twelve (12) month period, including any foreign currency conversion expenses and (iv) for any Excess Cash Measurement Date through (and including) December 31, 2024, any Fines due by OEC and its Subsidiaries for the subsequent twelve (12) month period; less (c) an amount equal to the Required Gross-Up; provided that any items already deducted from cash and short-term investments of OEC and its Subsidiaries for purposes of determining Unrestricted Cash shall not be deducted again for purposes of determining the Excess Cash Amount.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Performing Cash Pay Mezzanine Investments means Mezzanine Investments (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Adjusted gross receipts means the gross receipts less winnings paid to wagerers.

  • Intercompany Payables means all account, note or loan payables and all advances (cash or otherwise) or any other Extensions of Credit that are payable by Parent or any of its Subsidiaries (other than the Bank or its Subsidiaries) to the Bank or its Subsidiaries.

  • Daily Cash Amount means, with respect to any VWAP Trading Day, the lesser of (A) the applicable Daily Maximum Cash Amount; and (B) the Daily Conversion Value for such VWAP Trading Day.

  • transaction charge means any amount charged to a client by a registered firm in respect of a purchase or sale of a security and includes any federal, provincial or territorial sales taxes paid on that amount;

  • Adjusted gross proceeds means gross proceeds less cash prizes, cost of

  • Transaction Fees means fees paid or payable by the Service Recipients, which are on market terms, with respect to financial advisory services ordinarily carried out by investment banks in the context of mergers and acquisitions transactions;

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • Transaction Bonuses means any transaction bonuses payable by the Sellers or their Affiliates on or after the Closing to the Transferred Employees.