Charged-Off Receivable definition

Charged-Off Receivable means a Receivable: (i) as to which the Obligor thereof has taken any action, or suffered any event to occur, of the type described in Section 9.1(d) (as if references to Seller Party therein refer to such Obligor); (ii) as to which the Obligor thereof, if a natural person, is deceased, (iii) which, consistent with the Credit and Collection Policy, would be written off Seller’s books as uncollectible, or (iv) which has been identified by Seller as uncollectible.

Charged-Off Receivable means a Receivable: (i) as to which the Obligor thereof has taken any action, or suffered any event to occur, of the type described in Section 9.1(d) (as if references to the Seller Party therein refer to such Obligor); (ii) as to which the Obligor thereof, if a natural person, is deceased, (iii) which, consistent with the Credit and Collection Policy, would be written off Seller’s books as uncollectible, (iv) which has been identified by Seller as uncollectible or (v) as to which any payment, or part thereof, remains unpaid for 180 days or more from the original due date for such payment.

Charged-Off Receivable means a Receivable which, in each case, consistent with the Underwriting Policies, has or should have been written off Company’s books as uncollectable.

Examples of Charged-Off Receivable in a sentence

• Additionally, the Seller acknowledges that the Grantor Trust may assign the representations and warrants set forth in Section 3.1(b) to any Charged-Off Receivable Purchaser with respect to the sale of Charged-Off Receivables pursuant to a Forward Commitment Transfer.

• Additionally, the Depositor acknowledges that the Grantor Trust may assign the representations and warrants set forth in Section 3.1(b) to any Charged-Off Receivable Purchaser with respect to the sale of Charged-Off Receivables pursuant to a Forward Commitment Transfer.

• The Trust may enter into agreements with the Servicer and Charged-Off Receivable Purchasers pursuant to which the Trust agrees to sell Charged-Off Receivables to such Charged-Off Receivable Purchasers and under which the Trust incurs certain repurchase obligations relating to such Charged-Off Receivables; provided that such repurchase obligations with respect to a Charged-Off Receivable may not exceed ninety (90) days from the date such Charged-Off Receivable is sold to a Charged-Off Receivable Purchaser.

• Additionally, the Grantor Trust may assign the representations and warrants set forth in Section 3.1 to any Charged-Off Receivable Purchaser with respect to the sale of Charged-Off Receivables pursuant to a Forward Commitment Transfer.

More Definitions of Charged-Off Receivable

Charged-Off Receivable. A Receivable which has been charged off by the Servicer at the earlier of (a) the date notice of intent to sell a repossessed vehicle expires or (b) the end of the calendar month in which more than 10% of a Scheduled Payment is 120 days or more past due from the scheduled due date for such payment. Charged-Off Receivable Purchaser: A purchaser of a Charged-Off Receivable as contemplated by Section 2.3 of the Servicing Agreement.

Charged-Off Receivable means a Terminated Receivable upon the occurrence of the earlier of the following events (i) the Vehicle associated to a Terminated Receivable is being sold or written-off (as having a value of zero) or (ii) the value of the associated Terminated Receivable (excluding the Vehicle) is written off in accordance with the Servicer's Customary Operating Practices.

Charged-Off Receivable means a Receivable (a) as to which the Obligor thereof has become the subject of any Event of Bankruptcy, (b) which has been identified by the SPV, any Originator or the Master Servicer as uncollectible, or (c) which, consistent with the Credit and Collection Policy, would be written off as uncollectible.

Charged-Off Receivable means a Receivable (a) as to which the Obligor thereof has become the subject of any Event of Bankruptcy, (b) which has been identified by the SPV, any Originator or the Servicer as uncollectible, or (c) which, consistent with the Credit and Collection Policy, would be written off as uncollectible, in any case, whether or not actually charged off on the books and records of the SPV or the Servicer.

Charged-Off Receivable means a Receivable: (i) as to which the Obligor thereof has taken any action, or suffered any event to occur, of the type described in Section 9.1(d) (as if references to Seller Party therein refer to such Obligor); (ii) as to which the Obligor thereof, if a natural person, is deceased, (iii) that has been written off a Seller’s books as uncollectible, (iv) that, consistent with the applicable Originator’s Credit and Collection Policy, would be written off a Seller’s books as uncollectible, (v) that has been identified by a Seller as uncollectible or (vi) as to which any payment, or part thereof, remains unpaid for 90 days or more from the original invoice date for such payment.

Charged-Off Receivable means a Receivable which, consistent with Servicer’s collection procedures, would be written off Seller’s books as uncollectible. For the avoidance of doubt, a Charged-Off Receivable shall be deemed to have an Outstanding Balance of $0.

Charged-Off Receivable means a Receivable: (i) as to which the Obligor thereof has taken any action, or suffered any event to occur, of the type described in Section 9.1(d) (as if references to the Seller Party therein refer to such Obligor); (ii) which, consistent with the Credit and Collection Policy, would be written off Seller’s books as uncollectible; (iii) which has been identified by Seller as uncollectible or (iv) as to which any payment, or part thereof, remains unpaid for 180 days or more from the original due date for such payment.