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.
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.
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.
Examples of Portfolio Credit Losses in a sentence
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.
The Servicer reports set forth on Schedule B will also include such information separately designated for all Category A 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.
Reviewing shipment requests presented by the shipping customer to ensure that the approved funding and shipping documents fully support each shipment request;C.
More Definitions of Portfolio Credit Losses
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.
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. [*****] [*****] [*****]
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 Exhibit 10.18 CERTAIN CONFIDENTIAL MATERIAL APPEARING IN THIS DOCUMENT, MARKED BY [*****] HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED any amounts that previously were included in Portfolio Credit Losses for a prior month or for which Lender otherwise was compensated.
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
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.
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.
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. “[*****].