Unearned Finance Charge definition

Unearned Finance Charge means, with respect to any Receivable, the amount of the add-on finance charge that, under the term of such Receivable, would be required to be refunded or credited to the related Obligor in accordance with such Receivable if such Receivable were then prepaid in full.
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Unearned Finance Charge. With respect to any Contract, the amount of the add-on finance charge that, under the term of such Contract, would be required to be refunded or credited to the related Obligor in accordance with such Contract if such Contract were then prepaid in full.
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Unearned Finance Charge means, with respect to any Automobile Finance Receivable, that portion of the aggregate finance charge (irrespective of whether such finance charge is characterized as finance charges, points, unearned discounts or any other similar type of additional charge) which either Borrower has charged the applicable Eligible Auto Consumer in connection with such transaction and which has not been earned as of any particular date and that component of the outstanding balance of any Automobile Finance Receivable which is comprised of interest. For purposes of this Agreement, Unearned Finance Charges shall be calculated in accordance with all applicable Laws and otherwise in accordance with the applicable Automobile Finance Agreement.
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Examples of Unearned Finance Charge in a sentence

  • Z]PART 226— TRUTH IN LENDINGRefund of Unearned Finance Charge; Prepayment PenaltyThis interpretation specifies that the method of rebate—such as the “ Rule of 78’s”—may be identified on a disclosure statement without including a mathe­ matical formula or narrative description which might detract from the other im­ portant disclosures required by the reg­ ulation.

Related to Unearned Finance Charge

  • Finance charge means that term as defined in section 106 of the truth in lending act, 15 USC 1605.

  • Net Finance Charges means, for the Reference Period, the Finance Charges according to the latest Financial Report(s), after deducting any interest payable for that Reference Period to any member of the Group and any interest income relating to cash or cash equivalent investment.

  • Finance Charges means, with respect to a Contract, any finance, interest, late payment charges or similar charges owing by an Obligor pursuant to such Contract.

  • Finance Charge Shortfall shall have the meaning specified in Section 4.09.

  • Excess Finance Charge Collections means collections of Finance Charge Receivables and certain other amounts allocable to the Certificateholders’ Interest of any Excess Allocation Series in excess of the amounts necessary to make required payments with respect to such series (including payments to the provider of any related Series Enhancement) that are payable out of collections of Finance Charge Receivables.

  • Available Finance Charge Collections means, for any Monthly Period, an amount equal to the sum of (a) the Investor Finance Charge Collections for such Monthly Period, (b) the Series 2012-1 Excess Finance Charge Collections for such Monthly Period, (c) Principal Accumulation Investment Proceeds, if any, with respect to the related Transfer Date, (d) interest and earnings on funds on deposit in the Reserve Account which will be deposited into the Finance Charge Account on the related Payment Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(a), and (e) amounts, if any, to be withdrawn from the Reserve Account which will be deposited into the Finance Charge Account on the related Transfer Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(c).

  • Finance Charge Collections means Collections of Finance Charge Receivables.

  • Investor Finance Charge Collections means, with respect to any Distribution Date, an amount equal to (a) the product of (i) the Floating Allocation Percentage for the related Due Period and (ii) Allocable Finance Charge Collections deposited in the Collection Account for the related Due Period, minus (b) the aggregate amount of Servicer Interchange for the related Due Period.

  • Finance Charge Receivables means Receivables created in respect of periodic finance charges, late fees, returned check fees and all other similar fees and charges billed or accrued and unpaid on an Account.

  • Non-Performance Charge means the charge applicable to Capacity Performance Resources as defined in Tariff, Attachment DD, section 10A(e).

  • Scheduled Final Payment Date means, with respect to each Tranche of Securitization Bonds, the date when all interest and principal is scheduled to be paid with respect to that Tranche in accordance with the Expected Amortization Schedule, as specified in the Series Supplement. For the avoidance of doubt, the Scheduled Final Payment Date with respect to any Tranche shall be the last Scheduled Payment Date set forth in the Expected Amortization Schedule relating to such Tranche. The “last Scheduled Final Payment Date” means the Scheduled Final Payment Date of the latest maturing Tranche of Securitization Bonds.

  • Required Daily Deposit Target Finance Charge Amount means, for any day in a Due Period, an amount equal to the Class A Tranche Interest Allocation for the related Distribution Date; provided, however, that for purposes of determining the Required Daily Deposit Target Finance Charge Amount on any day on which the Class A Tranche Interest Allocation cannot be determined because the LIBOR Determination Date for the applicable Interest Accrual Period has not yet occurred, the Required Daily Deposit Target Finance Charge Amount shall be the Class A Tranche Interest Allocation determined based on a pro forma calculation made on the assumption that LIBOR will be LIBOR for the applicable period determined on the first day of such calendar month, multiplied by 1.25.

  • Monthly Principal Reallocation Amount means, for any Monthly Period, an amount equal to the sum of:

  • Scheduled Principal Payments means, with respect to any Series or any Class of any Series of Notes, any payments scheduled to be made pursuant to the applicable Series Supplement that reduce the amount of principal Outstanding with respect to such Series or Class on a periodic basis that are identified as “Scheduled Principal Payments” in the applicable Series Supplement.

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Scheduled Principal Payment Amount means, for the Notes of any Series or Class, as applicable, on any Payment Date, the excess, if any, of (x) the then Outstanding Principal Balance of such Series or Class of Notes, as applicable, over (y) the Scheduled Targeted Principal Balance of such Series or Class, as applicable, for such Payment Date.

  • Maintenance Charges means the charges payable by the applicant to the Maintenance Agency in accordance with the demand raised by the Maintenance Agency for the maintenance and up keep of the said building/ said complex, including common areas and facilities but does not include; (a) the charges for actual consumption of utilities in the Dwelling Unit including but not limited to electricity, water, which shall be charged based on actual consumption on monthly basis and (b) any statutory payments, taxes, with regard to the Dwelling Unit/ said building/said complex.

  • Available Funds Shortfall As defined in Section 3.03(b)(ii)(A).

  • Imbalance Charges means any fees, penalties, costs or charges (in cash or in kind) assessed by a Transporter for failure to satisfy the Transporter’s balance and/or nomination requirements.

  • Prepayment Charge Period As to any Mortgage Loan, the period of time during which a Prepayment Charge may be imposed.

  • Delinquency Amount means, as of any Distribution Date, the Principal Balance of all Contracts that were delinquent 60 days or more as of the end of the related Due Period (including Contracts in respect of which the related Motorcycles have been repossessed and are still in inventory).

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Class B Monthly Principal means the monthly principal distributable in respect of the Class B Certificates as calculated in accordance with subsection 4.07(b).

  • Scheduled Principal Payment Date means, with respect to any Series, Class or Tranche of Notes, the scheduled due date of any payment of principal on such Notes, as specified in the related Indenture Supplement, or if such day is not a Business Day, the next following Business Day, unless such day is in the next calendar month, in which case such Scheduled Principal Payment Date, unless otherwise specified in the related Indenture Supplement, will be the last Business Day of the current calendar month.