Portfolio Credit Losses definition

Portfolio Credit Losses means, for each calendar month, an amount equal to the Outstanding Balance of all Loans that become past due by 90 or more days during such month.
Sample 1Sample 2
Portfolio Credit Losses means, for each calendar month, an amount equal to (a) the Outstanding Balance of all Loans that become past due by 90 or more days during such month or for which Servicer became aware during such month that the sole Borrower or all Co-Borrowers (as applicable) are the subject of a bankruptcy or similar proceeding or have died, plus (b) to the extent Lender is not otherwise compensated therefor, the portions of the Outstanding Balance of all Loans that have been waived, compromised, settled or forgiven during such month (other than for Loans that were previously included in Portfolio Credit Losses pursuant to clause (a)). For the avoidance of doubt, in no event shall the Portfolio Credit Losses for a particular month include any amounts that were previously included in Portfolio Credit Losses for a prior month or for which Lender was otherwise compensated.
Sample 1Sample 2
Portfolio Credit Losses means, for each calendar month, an amount equal to (a) the aggregate Outstanding Balances of all Loans (i) that, as of the last day of such month, were 4 or more payments past due, or (ii) that, during such month, Servicer charged off as a result of the sole Borrower or all co-Borrowers (as applicable) being the subject of a bankruptcy or similar proceeding or having died, plus (b) the portions of the Outstanding Balance of all Loans that were waived, compromised or forgiven during such month, in each case without duplication. For the avoidance of doubt, in no event shall the Portfolio Credit Losses for a particular month include any amounts that previously were included in Portfolio Credit Losses for a prior month or for which Lender otherwise was compensated.
Sample 1Sample 2

Examples of Portfolio Credit Losses in a sentence

  • The Servicer reports set forth on Schedule B will also include such information separately designated for all Loans constituting Portfolio Credit Losses for the month just ended and a listing of all recoveries of Portfolio Credit Losses for the month just ended.

  • In the event that any settlement amount would exceed $20,000.00 individually or cause the above annual threshold to be exceeded in the aggregate (other than with respect to Loans where Lender has been compensated in full for the related Portfolio Credit Losses), Servicer will consult with Lender for final settlement authority.

  • To the extent Lender has been reimbursed for all Portfolio Credit Losses with respect to a Loan pursuant to Section 3.01(a)(ii), Lender shall transfer legal title to such Loan to Servicer to the extent Servicer maintains licenses necessary to own such Loans.

  • To the extent Lender has been reimbursed for all Portfolio Credit Losses with respect to a Loan pursuant to S ection 3.01(a)(ii), Lender shall transfer legal title to such Loan to Servicer to the extent Servicer maintains licenses necessary to own such Loans.

  • In the event that any settlement amount would exceed $20,000.00 individually [*****] (other than with respect to Loans where Lender has been compensated in full for the related Portfolio Credit Losses), Servicer will consult with Lender for final settlement authority.


More Definitions of Portfolio Credit Losses

Portfolio Credit Losses means, for each calendar month, an amount equal to (a) the Outstanding Balance of all Category A Loans (i) that, as of the last day of such month, were past due by 4 or more monthly payments, or (ii) that, during such month, Servicer charged off as a result of the sole Borrower or all co-Borrowers (as applicable) being the subject of a bankruptcy or similar proceeding or having died (it being agreed that such Category A Loans much be charged off in respect of the events described in this clause (ii) no later than the date required
Sample 1
Portfolio Credit Losses means, for each calendar month, an amount equal to (a) the Outstanding Balance of all Loans (i) that, as of the last day of such month were four (4) or more payments past due, or (ii) for which Servicer was aware and confirmed during such month that the sole Borrower or all Co-Borrowers (as applicable) are the subject of a bankruptcy or similar proceeding or have died, plus (b) to the extent Lender is not otherwise compensated therefor, the portions of the Outstanding Balance of all Loans that have been waived, forgiven, compromised or settled during such month (other than for Loans that previously were included in Portfolio Credit Losses pursuant to clause (a)). For the avoidance of doubt, in no event shall the Portfolio Credit Losses for a particular month include any amounts that previously were included in Portfolio Credit Losses for a prior month or for which Lender was otherwise compensated.
Sample 1
Portfolio Credit Losses means, for each calendar month, an amount equal to (a) the Outstanding Balance of all Loans (i) that, as of the last day of such month, were past due by 4 or more monthly payments, or (ii) that, during such month, Servicer charged off as a result of the sole Borrower or all co-Borrowers (as applicable) being the subject of a bankruptcy or similar proceeding or having died (it being agreed that such Loans much be charged off in respect of the events described in this clause (ii) no later than the date required under Federal Financial Institution Examination Counsel (FFIEC) guidelines), plus (b) to the extent Lender is not otherwise compensated therefor, the portions of the Outstanding Balance of all Loans that have been waived, compromised, settled or forgiven during such month (other than for Loans that were previously included in Portfolio Credit Losses pursuant to clause (a)). The foregoing language is meant to align with ongoing practices since the inception of the relationship between the Parties, and does not change the calculation of the “Monthly Accounting” pursuant to the Servicing Agreement prior to the execution of this Loan Origination Agreement. For the avoidance of doubt, in no event shall the Portfolio Credit Losses for a particular month include any amounts that were previously included in Portfolio Credit Losses for a prior month or for which Lender was otherwise compensated.
Sample 1
Portfolio Credit Losses means, for each calendar month, an amount equal to (a) the Outstanding Balance of all Loans (i) that, as of the last day of such month were four (4) or more payments past due, or (ii) for which Servicer was aware and confirmed during such month that the sole Borrower or all Co-Borrowers (as applicable) are the subject of a bankruptcy or similar proceeding or have died, plus (b) to the extent Lender is not otherwise compensated therefor, the portions of the Outstanding Balance of all Loans that have been waived, forgiven, compromised or settled during such month (other than for Loans that previously were included in Portfolio Credit Losses pursuant to clause (a)). For the avoidance of doubt, in no event shall the Portfolio Credit Losses for a particular month include any amounts that previously were included in Portfolio Credit Losses for a prior month or for which Lender was otherwise compensated. “[*****].
Sample 1
Portfolio Credit Losses means, for each calendar month, an amount equal to (a) the Outstanding Balance of all Loans (i) that, as of the last day of such month, were past due by 4 or more monthly payments, or (ii) that, during such month, Servicer charged off as a result of the sole Borrower or all co-Borrowers (as applicable) being the subject of a bankruptcy or similar proceeding or having died (it being agreed that such Loans should be charged off with respect to the events described in this clause (ii) no later than the date required under Federal Financial Institution Examination Counsel (FFIEC) guidelines), plus (b) to the extent Lender is not otherwise compensated therefor, the portions of the Outstanding Balance of all Loans that have been waived, compromised, settled or forgiven during such month (other than for Loans that were previously included in Portfolio Credit Losses pursuant to clause (a)). The foregoing language is meant to align with ongoing practices since the inception of the relationship between the Parties, and does not change the calculation of the Monthly Accounting prior to the execution of this Servicing Agreement. For the avoidance of doubt, in no event shall the Portfolio Credit Losses for a particular month include any amounts that were previously included in Portfolio Credit Losses for a prior month or for which Lender was otherwise compensated. [*****] [*****] [*****]
Sample 1
Portfolio Credit Losses means, for each calendar month, an amount equal to (a) the aggregate Outstanding Balances of all Retained Economics Loans (i) that, as of the last day of such month, were four (4) or more payments past due, or (ii) that, during such month, Servicer FACILITY LOAN ORIGINATION AGREEMENT (GreenSky-Synovus) – Page 7 charged off as a result of the sole Borrower or all co-Borrowers (as applicable) being the subject of a bankruptcy or similar proceeding or having died, plus (b) the portions of the Outstanding Balance of all Retained Economics Loans that were waived, compromised or forgiven during such month, in each case without duplication. For the avoidance of doubt, in no event shall the Portfolio Credit Losses for a particular month include any amounts that previously were included in Portfolio Credit Losses for a prior month that relate to Sold Loans or Participated Loans or for which Lender otherwise was compensated as a Reimbursed Portfolio Credit Loss Loan as defined in and pursuant to the Economics Agreement.
Sample 1

Related to Portfolio Credit Losses

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Aggregate Outstanding Extensions of Credit as to any Lender with respect to any Type of Loan at any time, an amount equal to the sum of (a) the aggregate principal amount of all Loans of such Type made by such Lender then outstanding and (b) such Lender's Commitment Percentage of the L/C Obligations then outstanding.

  • Aggregate Revolving Credit Outstandings shall have the meaning provided in Section 5.2(b).

  • Available Unused Commitment means, with respect to a Revolving Facility Lender under any Class of Revolving Facility Commitments at any time, an amount equal to the Dollar Equivalent of the amount by which (a) the applicable Revolving Facility Commitment of such Revolving Facility Lender at such time exceeds (b) the applicable Revolving Facility Credit Exposure of such Revolving Facility Lender at such time.

  • U.S. Revolving Credit Exposure means, with respect to any Lender at any time, the sum of such Lender’s outstanding U.S. Revolving Loans and its U.S. L/C Exposure and U.S. Swingline Exposure at such time.

  • Aggregate Outstanding Credit Exposure means, at any time, the aggregate of the Outstanding Credit Exposure of all the Lenders.

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

  • Total Revolving Credit Exposure means, as to any Revolving Lender at any time, the unused Commitments and Revolving Exposure of such Revolving Lender at such time.

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Revolving Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the Tranche B-1 Funding Date is $150,000,000.

  • Aggregate Revolving Credit Commitments means, at any time, the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at such time.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Aggregate Credit Exposures means, at any time, in respect of (a) the Term Facility, the aggregate amount of the Term Loans outstanding at such time and (b) in respect of the Revolving Credit Facility, the sum of (i) the unused portion of the Revolving Credit Facility at such time and (ii) the Total Revolving Credit Outstandings at such time.

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.

  • Revolving Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Loans and its LC Exposure at such time.

  • Revolving Loan Exposure means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

  • Aggregate Revolving Exposure means, at any time, the aggregate Revolving Exposure of all the Lenders at such time.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Revolving L/C Exposure of any Class shall mean at any time the sum of (a) the aggregate undrawn amount of all Letters of Credit applicable to such Class outstanding at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof) and (b) the aggregate principal amount of all L/C Disbursements applicable to such Class that have not yet been reimbursed at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof). The Revolving L/C Exposure of any Class of any Revolving Facility Lender at any time shall mean its applicable Revolving Facility Percentage of the aggregate Revolving L/C Exposure applicable to such Class at such time. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the International Standby Practices, International Chamber of Commerce No. 590, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, that with respect to any Letter of Credit that, by its terms or the terms of any document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • Aggregate Outstanding Loan Balance means on any day, the sum of the Outstanding Loan Balances of all Eligible Loans included as part of the Collateral on such date.