Deficiency Balance definition

Deficiency Balance means, with respect to any Receivable, any deficiency balance, charged-off amount, Principal Balance, accrued interest and/or fees and any Related Security; provided, that such amounts and Related Security relate to a Receivable which is a Defaulted Receivable.

Deficiency Balance shall have the meaning given in Section 22.1(b) of the Lease Agreement.

Deficiency Balance shall have the meaning given to such term in Section 22.1(b) of the Lease.

Examples of Deficiency Balance in a sentence

• To facilitate any such sale the Servicer may, in accordance with its Customary Servicing Practices, purchase from the Issuer such Receivable’s Deficiency Balance for a purchase price equal to the proceeds received by the Servicer in an arm’s-length transaction for the sale of such Receivable’s Deficiency Balance.

• In addition, the Servicer, in its sole discretion, may in accordance with its Customary Servicing Practices sell any Receivable’s Deficiency Balance.

• The Servicer is authorized to take any and all actions necessary or appropriate on behalf of the Issuer to evidence the sale of the Financed Vehicle at a public or private sale or the sale of the Receivable to the Servicer to facilitate a Deficiency Balance sale pursuant to the provisions of this paragraph, in each case, free from any Lien or other interest of the Issuer or the Indenture Trustee.

• The Servicer may, in accordance with its Customary Servicing Practices, waive any Deficiency Balance.

More Definitions of Deficiency Balance

Deficiency Balance means the outstanding Principal Balance of a Defaulted Receivable remaining unpaid after the application, to reduce the Principal Balance of such Receivable, of all Liquidation Proceeds and Insurance Proceeds received for such Defaulted Receivable and after all proceeds have been received from the disposition of the related Financed Vehicle.

Deficiency Balance means the remaining unpaid principal balance of any Note purchased hereunder after crediting to it the proceeds of a foreclosure sale.

Deficiency Balance means the remaining unpaid principal balance of any Note or Loan sold or contributed pursuant to this Agreement after crediting to it the proceeds of a foreclosure sale, deed in lieu of foreclosure or any other exercise of remedies with respect to Underlying Collateral.

Deficiency Balance means any Defaulted Receivable regarding which the related Amount Financed after receipt of any Liquidation Proceeds (other than any Liquidation Proceeds related to the sale of a Deficiency Balance) with respect thereto is greater than zero.

Deficiency Balance has the meaning given in Contribution Agreement. “Depository” or “DTC” means the Depository Trust Company, its nominees, and their respective successors.

Deficiency Balance means the remaining unpaid principal balance of any Note purchased hereunder after crediting to it the proceeds of a foreclosure sale which occurred on or before the Calculation Date, and for which the Redemption Period, if any, expired on or before the Calculation Date.

Deficiency Balance means any Defaulted Receivable regarding which the related Amount Financed after receipt of any Liquidation Proceeds with respect thereto is greater than zero, provided however, if for any Defaulted Receivable the related Deficiency Balance is sold, the remaining Deficiency Balance shall be zero.