Chargeoff definition

Chargeoff means (i) any Contract that has been deemed by the Servicer to be uncollectible and charged off, (ii) if the related Financed Vehicle has not been repossessed, any Contract for which 10% or more of a Scheduled Payment becomes more than 120 days delinquent, (iii) if the related Financed Vehicle has been repossessed, any Contract for which either (A) 10% or more of Scheduled Payment becomes more than 180 days delinquent or (B) 90 days have passed from the date of repossession, or (iv) any Contract the Obligor under which has filed for bankruptcy under Federal or state law and the Servicer has determined that its loss is known.
Sample 1Sample 2
Chargeoff means removal of the Account balance from the total outstanding ledger balances on the FDR System, and categorizing such Account as a charged off Account on such System.
Sample 1Sample 2
Chargeoff means a Chargeback that is deemed by the Company to be uncollectible from a Merchant due to insufficient funds, refusal to pay, closed merchant deposit account, insolvency, bankruptcy or any other reason.
Sample 1

Examples of Chargeoff in a sentence

  • Specific Bad Debt Charge-off: The amount written off must be stated.

  • Charge-off loans, wholly or par- tially, as appropriate, at the time they are determined to be uncollectible.

  • Chargeoff action will not release the lender of responsi- bility to continue its efforts to collect the loan.

  • Refer to NCUA guidance on charge-offs set forth in LCU 03–CU–01, ‘‘Loan Charge-off Guidance,’’ dated January 2003.

  • Net Charge-off Rate is calculated as our annualized net charge-offs for the period divided by the average Unpaid Principal Balance outstanding.

  • For federally insured credit unions, charge-off policy for booked loans is described in NCUA Letter to Credit Unions No. 03–CU–01, ‘‘Loan Charge-off Guidance,’’ dated January 2003.

  • For federally insured credit unions, charge-off policy for booked loans is described in NCUA Letter to Credit Unions No. 03-CU-01, “Loan Charge-off Guidance,” dated January 2003.

  • The Master Servicer shall not make an advance with respect to any Charged-off Mortgage Loan after the related Charge-off Date.

  • An electronic record maintained by the System which documents the creation, transfer, Exportation, Payoff, Charge-off, and Termination of an eContract.

  • Charge-off TreatmentGAAP states that loans shall be charged off in the period in which the loans are deemed uncollectible.

Related to Chargeoff

  • CCAA Charges means the Administration Charge and the Directors’ Charge;

  • bailiff means a person who holds an appointment under section 107 as a bailiff;

  • Houseboat means a powered vessel containing living accommodation, usually flat- bottomed and used in navigation.

  • School service means a website, mobile application or online service that (i) is designed and marketed solely for use in elementary or secondary schools; (ii) is used (a) at the direction of teachers or other employees at elementary or secondary schools or (b) by any school-affiliated entity; and (iii) collects and maintains, uses or shares student personal information. "School service" does not include a website, mobile application or online service that is (a) used for the purposes of college and career readiness assessment or (b) designed and marketed for use by individuals or entities generally, even if it is also marketed for use in elementary or secondary schools.

  • NSF means National Sanitation Foundation.

  • Administration Charge means a charge established in accordance with Chapter 90.50A RCW and Chapter 173-98 WAC, to be used to pay Ecology’s cost to administer the State Revolving Fund by placing a percentage of the interest earned in an Administrative Charge Account.

  • Electric vehicle charging station or “charging station” means any level of electric vehicle supply equipment station that is designed and built in compliance with Article 625 of the California Electrical Code, as it reads on the effective date of this Chapter, and delivers electricity from a source outside an electric vehicle into a plug-in electric vehicle.

  • assessee means a person by whom any tax or any other sum of money is payable under this Act, and includes—

  • Preschooler means a child age two through four years old.

  • Total Service Charges means all charges, after application of all discounts and credits, for Services excluding Taxes, Governmental Charges, equipment, Company ILEC, Company Wireless, Document Delivery Fax, non-recurring, goods and services acquired by Company as Customer’s agent, international pass-through access (Type 3/PTT) and charges for international access or provided by Company (Type 1), charges for security services provided by Cybertrust, Inc. or its affiliates set forth in the Guide as providers of Cybertrust security services and other charges expressly excluded by this Agreement.

  • Failed Bank Charge-Offs/Write-Downs means, with respect to any Shared- Loss Asset, an amount equal to the aggregate amount of reversals or charge-offs of Accrued Interest and charge-offs and write-downs of principal effected by the Failed Bank with respect to that Shared-Loss Asset as reflected on the Accounting Records of the Failed Bank.

  • Charges shall have the meaning assigned to such term in Section 9.09.

  • Handler means a person who takes title to and is engaged in the operation of packing, cleaning, drying, packaging, sizing, hauling, grading, selling, offering for sale, or marketing a marketable agricultural commodity or an agricultural commodity input in commercial quantities as defined in a marketing program, who as owner, agent, or otherwise, ships or causes an agricultural commodity or agricultural commodity input to be shipped.

  • School nurse means a registered professional nurse with Maine Department of Education certification for school nursing.

  • Dietitian or “licensed dietitian” means a person who maintains a license granted by the Iowa board of dietetic examiners.

  • Search and rescue means the acts of searching for, rescuing, or recovering by means of ground, marine, or air activity any person who becomes lost, injured, or is killed while outdoors or as a result of a natural, technological, or human caused disaster, including instances involving searches for downed aircraft when ground personnel are used. Nothing in this section shall affect appropriate activity by the department of transportation under chapter 47.68 RCW.

  • SLDC Charges means the charges levied by the SLDC of the state wherein the Solar Power Project is located;

  • Warehouser means any person, other than a wholesale distributor, engaged in the business of

  • Pharmacist-in-charge means a pharmacist currently licensed in good standing who accepts responsibility for the operation of a pharmacy in conformance with all laws and rules pertinent to the practice of pharmacy and the distribution of drugs, and who is personally in full and actual charge of the pharmacy and all personnel.

  • Annual Service Charge as of any date means the maximum amount which is payable in any period for interest on, and original issue discount of, Debt of the Company and its Subsidiaries and the amount of dividends which are payable in respect of any Disqualified Stock.

  • Maintenance Fees means the non-refundable fees payable annually by Licensee to OT for Support Services;

  • Administrative Charge means, with respect to any Lease, any payment (whether or not part of the fixed monthly payment) payable to the related Lessor representing a disposition fee, a late payment fee, an Extension Fee, an allocation to the related Lessee of insurance premiums, sales, personal property or excise taxes or any other similar charge.

  • Bond Service Charges means, for any period or payable at any time, the principal of, premium, if any, and interest on the Bonds for that period or payable at that time whether due at maturity or upon redemption, Mandatory Tender or acceleration.

  • Legal Charge means the legal charge over the Land to be entered into by the Academy Trust in favour of the Secretary of State, in a form and substance satisfactory to the Secretary of State.

  • Rechargeable battery means a sealed nickel-cadmium battery, a sealed lead acid battery, or any other rechargeable battery, except certain dry cell batteries or a battery exempted by the Commissioner of the Pollution Control Agency (PCA) (Commissioner). (Minn. Stat. § 115A.9157)

  • Rebate shall have the same meaning as ascribed thereto in Article 10.3.4 of this Agreement;