Delinquent Contract definition

Delinquent Contract means any Contract as to which all or a portion of a Scheduled Payment (constituting at least ten percent (10%) of such Scheduled Payment due) is more than 60 days delinquent from its original due date.

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Delinquent Contract means any Contract that is 60 days or more delinquent.

Delinquent Contract means, as of any Determination Date, any Contract (other than a Contract which became a Defaulted Contract prior to such Determination Date) with respect to which the Obligor has not paid all Contract Payments due as of the end of the immediately preceding Collection Period. The delinquency of a Contract Payment shall be measured based on the Contract Payments required to be made during the term of such Contract as of the date such Contract became part of the Trust Property without giving effect to any modifications, waivers or extensions subsequently granted by the Servicer.

Examples of Delinquent Contract in a sentence

• As of the applicable Cutoff Date, no Contract was a Delinquent Contract or a Defaulted Contract.

• No later than one Business Day preceding each Payment Date, the Servicer may, but is not required, to make a Servicer Advance for each Series 1999-1 Contract which is a Delinquent Contract with respect to each overdue Scheduled Payment as of the related Calculation Date in an amount equal to the Scheduled Payments, or portion thereof, which were due but not received during the related Collection Period (and not previously covered by an unreimbursed Servicer Advance).

• With respect to any Delinquent Contract, Borrower shall comply with Section 7 of this Agreement.

• As of the date hereof, no Contract is a Delinquent Contract, and each Obligor under each Contract satisfies the Borrower's standard underwriting and credit criteria.

• Any Contract (a)(i) that is a Delinquent Contract with respect to which a User is contractually delinquent for 121 days or more (without regard to any Servicer Advances or the application of any Security Deposit) or (ii) as to which the Servicer has determined in accordance with its customary servicing practices that eventual payment of the remaining Scheduled Payments thereunder is unlikely or (iii) that has been rejected by or on behalf of the User in a bankruptcy proceeding.

More Definitions of Delinquent Contract

Delinquent Contract. As of any Calculation Date, a Contract (a) as to which a Scheduled Payment was not received by or on behalf of the Issuer within 60 days of when such Scheduled Payment was due and remains unpaid as of such Calculation Date and (b) is not a Defaulted Contract.

Delinquent Contract. As of any date, a Contract as to which a Scheduled Payment, or part thereof, remains unpaid for more than 60 days from the original due date for such Scheduled Payment.

Delinquent Contract means a Contract for which the Monthly P&I payment for a Due Date was not received by the Master Servicer on or before that Due Date. A Delinquent Contract for which the Monthly P&I payment was not received on or before the last Business Day of the calendar month next following the month in which that Due Date occurs is referred to as a "30 to 59 day Delinquent Contract". A Delinquent Contract for which the Monthly P&I payment was not received on or before the last Business Day of the second calendar month next following the month in which that Due Date occurs is referred to as a "60 to 89 day Delinquent Contract". A Delinquent Contract for which the Monthly P&I payment was not received on or before the last Business Day of the third calendar month next following the month in which that Due Date occurs is referred to as a "90 to 119 day Delinquent Contract". A Delinquent Contract for which the Monthly P&I payment was not received on or before the last Business Day of the fourth calendar month next following the month in which that Due Date occurs is referred to as a "120 day and over Delinquent Contract".

Delinquent Contract means any Contract where payment in full of all installments then due have not been made within 30 days of the due date or where any other material default has occurred and such default has continued for a period of at least 30 days.

Delinquent Contract means a Contract which is not a Defaulted Contract and for which the related Customer is more than 31 days contractually delinquent with respect to more than 10% of a Scheduled Payment (without giving effect to any applicable grace periods); provided, however that no extension of a Contract, in accordance with Section 3.01(c)(v) of the Servicing Agreement shall be taken into account in the determination as to whether a Contract shall be a Delinquent Contract with respect to any date of determination during the calendar month in which such extension shall have been granted.

Delinquent Contract means, as of any Determination Date, any Contract (other than a Contract which became a Defaulted Contract prior to such Determination Date) with respect to which all or a portion of any Scheduled Payment was not received when due by the Servicer as of the close of business on the last day of the month in which such payment was due. The determination as to delinquency of Scheduled Payments shall be made after the application of amounts received in accordance with the Servicer's accounting procedures related to classification of delinquency consistent with its delinquency results for financial reporting purposes.

Delinquent Contract. Any Contract (a) as to which more than 10% of a Scheduled Payment was not received by the Servicer within ninety-one (91) days after the original due date for such Scheduled Payment, without regard to any Servicer Advance and (b) that is not a Defaulted Contract; provided that a Contract shall no longer be a Delinquent Contract for any purpose of the Transaction Documents, upon the cure of the condition or event which caused it to be a Delinquent Contract.