Credit Classification definition

Credit Classification means the code representing the credit classification of an Obligor, as of the date a Financing Contract was originated, determined in accordance with the Credit Policy relating to such Obligor’s Financing Contract.
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Examples of Credit Classification in a sentence

  • Charge-offs should be performed per loss recognition policy consistent with the FFIEC Uniform Retail Credit Classification and Account Management Policy.

  • In developing a written policy, the credit union board and management may wish to consider similar parameters as those estab- lished in the FFIEC’s ‘‘Uniform Retail Credit Classification and Account Management Pol- icy’’ (FFIEC Policy).

  • Uniform Retail Credit Classification and Account Management Policy, 65 Fed.

  • Once an account becomes more than 90 days delinquent, it is subject to possible classification under the interagency “Uniform Retail Credit Classification and Account Management Policy” issued in June 2000 (refer to OCC Bulletin 2000-20, “Uniform Retail Credit Classification and Account Management Policy”).

  • Under the interagency “Uniform Retail Credit Classification and Account Management Policy,” the loans and lines are subject to classification when they become 90 days or more past due.

  • In those instances, the charge off timeframes described in the FFIEC Uniform Retail Credit Classification and Account Management Policy would apply.6 For corporate and small businesses, existing credit relationships may support exceptions to the 30-day charge off guidance.

  • In developing a written policy, the credit union board and management may wish to consider similar parameters as those established in the FFIEC’s “Uniform Retail Credit Classification and Account Management Policy” (FFIEC Policy).

  • Cross reference: See Federal Financial Institutions Examination Council Uniform Retail Credit Classification and Account Management Policy, 65 Fed.

  • Because of heightened risk that loans discharged through bankruptcy may be uncollectible, the interagency Uniform Retail Credit Classification and Account Management Policy2 (Uniform Retail Credit Policy) requires such loans to be charged down to collateral value (less costs to sell) within 60 days of notification from the bankruptcy court unless the institution can clearly demonstrate and document that repayment is likely to occur.

  • In developing a written policy, the credit union board and management may wish to consider similar parameters as those established in the FFIEC's “Uniform Retail Credit Classification and Account Management Policy” (FFIEC Policy).

Related to Credit Classification

  • Job Classification means an arrangement of tasks in an establishment or industry into a limited series of jobs or occupations, rated in terms of skill, responsibility, experience, training, and similar considerations, usually for wage setting purposes. This term, or job class, refers to a single cluster of jobs of approximately equal “worth.”

  • International Classification means the Classification established under the Locarno Agreement Establishing an International Classification for Industrial Designs;

  • film classification body means the person or persons designated as the authority under section 4 of the Video Recordings Act 1984 (c.39) (authority to determine suitability of video works for classification).

  • Classification means the identification of a position by reference to a classification title and pay range number.

  • asset class means the category of the underlying interest of a derivative and includes, for greater certainty, interest rate, foreign exchange, credit, equity and commodity;

  • Classification Seniority is defined as the length of service in a specific job classification within the bargaining unit, beginning with the date an employee starts to serve a probationary appointment. Classification Seniority shall be interrupted only by separation because of resignation, discharge for just cause, failure to return upon expiration of a leave of absence, failure to respond to a recall from layoff, or retirement.

  • Classification plan means the orderly arrangement of positions within an agency into separate and distinct job families so that each job family will contain those positions which involve similar or comparable skills, duties and responsibilities [74:840 1.3].

  • Classifications means the classifications contained in Schedule 1 to this Agreement.

  • Moody’s Industry Classification The industry classifications set forth in Schedule 2 hereto, as such industry classifications shall be updated at the option of the Collateral Manager if Moody’s publishes revised industry classifications.

  • S&P Industry Classification The S&P Industry Classifications set forth in Schedule 2 hereto, which industry classifications may be updated at the option of the Collateral Manager if S&P publishes revised industry classifications.

  • Uniform application means the current version of the national association of insurance commissioners uniform application for resident and nonresident insurance producer licensing.

  • standard industrial classification code or "SIC code" means a series of four-digit codes devised by the office of management and budget (OMB) of the federal government to classify establishments according to the type of economic activity in which they are engaged.

  • Approved Classification Society means, in relation to a Ship, a classification society which is a member of IACS (other than the China Classification Society and the Russian Maritime Registry of Shipping) and acceptable to the Agent;

  • Related Classes As to any Uncertificated REMIC I Regular Interest, those classes of Certificates identified as "Related Classes of Certificates" to such Uncertificated REMIC I Regular Interest in the definition of Uncertificated REMIC I Regular Interest.

  • Industry Classification Group means (a) any of the classification groups set forth in Schedule 1.01(c) hereto, together with any such classification groups that may be subsequently established by Xxxxx’x and provided by the Borrower to the Lenders, and (b) up to three additional industry group classifications established by the Borrower pursuant to Section 5.12.

  • Checked Baggage means baggage of which the carrier takes sole custody and for which the carrier issues a baggage identification tag.

  • Uniform Network Code means the uniform network code as defined in Standard Special Condition A11(6) of National Grid’s transporters licence, as such code may be amended from time to time in accordance with the terms thereof.

  • First Class Mail When mailed first class to the last address of the recipient known to the party giving notice, notice is effective three (3) mail delivery days after deposit in a United States Postal Service office or mailbox. Certified Mail: When mailed certified mail, return receipt requested, notice is effective on receipt, if delivery is confirmed by a return receipt. Overnight Delivery: When delivered by overnight delivery (Federal Express/Airborne/United Parcel Service/DHL WorldWide Express) with charges prepaid or charged to the sender’s account, notice is effective on delivery, if delivery is confirmed by the delivery service. Facsimile transmission: When sent by facsimile to the facsimile number of the recipient known to the party giving notice, notice is effective on receipt, provided that, (a) a duplicate copy of the notice is promptly given by first-class or certified mail or by overnight delivery, or (b) the receiving party delivers a written confirmation of receipt. Any notice given facsimile shall be deemed received on the next business day if it is received after 5:00 p.m. (recipient’s time) or on a non-business day. Addresses for purpose of giving notice are as follows: To COUNTY: COUNTY OF MENDOCINO Xxxxx, XX 00000 Attn: To CONTRACTOR: [Name of Contractor] [Number and Street] [City, State, Zip Code] ATTN: Any correctly addressed notice that is refused, unclaimed, or undeliverable because of an act or omission of the party to be notified shall be deemed effective as of the first date that said notice was refused, unclaimed, or deemed undeliverable by the postal authorities, messenger, or overnight delivery service. Any party may change its address or facsimile number by giving the other party notice of the change in any manner permitted by this Agreement.

  • Restricted Classes As defined in Section 4.02(e).

  • Scheduled Classes As specified in the Preliminary Statement.

  • Local Upgrades means modifications or additions of facilities to xxxxx any local thermal loading, voltage, short circuit, stability or similar engineering problem caused by the interconnection and delivery of generation to the Transmission System. Local Upgrades shall include:

  • Categories in this Schedule is to a Category or Categories of the Table).

  • Category means a category set forth in the table in Section IV of Schedule 2 to this Agreement.

  • Foreign Service means service in which a Government servant receives his pay with the sanction of Government from any source other than the Consolidated Fund of India or the Consolidated Fund of any State or the Consolidated Fund of a Union Territory;