Finance Receivable definition

Finance Receivable means credit extended to customers through financing arrangements, including, but not limited to, term and revolver loans and financing leases, but excluding operating leases.

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Finance Receivable means each Receivable of the Borrower or any Restricted Subsidiary that arises in the ordinary course of its finance company business and represents amounts due in respect of loans made by the Borrower or such Restricted Subsidiary to the debtor obligated thereon.

Finance Receivable means each Receivable (including any Electronic Contract) of the Borrower or any Restricted Subsidiary that arises in the ordinary course of its finance company business and represents amounts due in respect of loans made by the Borrower or such Restricted Subsidiary to the debtor obligated thereon. “Fixed Asset Financing” means the acquisition by the Borrower of one or more fixed assets in an aggregate amount not to exceed $1,500,000, which financing (a) shall amortize over time and not be subject to being re-borrowed and (b) may be secured by the fixed assets so acquired. “Fixed Charges” for any period means, on a consolidated basis, the sum of (a) all Rentals (other than Capitalized Rentals) payable during such period by the Borrower and its Restricted Subsidiaries, and (b) all Interest Charges on all Indebtedness (including the interest component of Capitalized Rentals) of the Borrower and its Restricted Subsidiaries. “Floor” means a rate of interest equal to 1.00%. “FRB” means the Board of Governors of the Federal Reserve System of the United States. “Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. “GAAP” means generally accepted accounting principles as in effect from time to time in the United States, consistently applied; provided, however, that all calculations relative to

Examples of Finance Receivable in a sentence

• All such reports shall include the following information for each Finance Receivable: account number, original gross receivable balance, current gross receivable balance, original tenor (in months), remaining tenor (in months), FICO score, number of days recency delinquent and number of days contractually delinquent.

• If on the last Business Day of any month the Premium Finance Outstanding Amount is greater than 90% of the Eligible Receivable Amount, Borrower shall prepay the Premium Finance Loans in an amount equal to the difference between the Premium Finance Outstanding Amount minus the amount equal to 90% of the Eligible Receivable Amount, such prepayment to be due on the day the Premium Finance Receivable Certificate for such month is required to be delivered to Lender.

• The term "Direct Loan Receivables" shall mean any Receivable that is not an Auto Secured Receivable, a Real Estate Secured Receivable or a Sales Finance Receivable.

• A Premium Finance Receivable Certificate, dated the date of this Third Amendment and signed by an Authorized Signatory of Borrower and PAAC, together with information to support the calculation of the Eligible Receivable Amount.

• Not later than 10 days after the last day of each month, a Premium Finance Receivable Certificate executed by an Authorized Signatory of Borrower and PAAC and each of whom is a senior financial officer of Borrower and PAAC, respectively.

• Upon the Administrative Agent’s request from time to time, the Borrower shall engage outside legal counsel reasonably acceptable to the Administrative Agent (at the Borrower’s sole cost and expense) to undertake a review of the Finance Receivable documentation of the Borrower and its Subsidiaries.

• Finance Receivable Revenue Recognition We recognize finance charges as revenue on the accrual basis using the interest method, which we report in interest income.

• As used in this Loan Agreement, the following terms shall have the following meanings: Account Debtor - any person who is or may become obligated under or with respect to a Finance Receivable.

• In this Agreement, the following definitions apply: Loss Reserve Shortfall -- means, with respect to the Company as of any date of determination, the difference, if a negative number, between (i) the allowance for loan losses shown on the Company’s then-most-recent financial statements, and (ii) actual gross charge-offs of Gross Finance Receivable Amounts (net of cash recoveries on any such charge-offs) during the four Fiscal Quarter period then most-recently ended.

• Signatures to this Agreement transmitted by fax, by email in “portable document format” (“.pdf”) or by any other electronic means intended to preserve the original graphic and pictorial appearance of this Agreement will have the same effect as physical delivery of the paper document bearing original signature.

More Definitions of Finance Receivable

Finance Receivable means each Receivable (including any Electronic Contract) of the Borrower or any Restricted Subsidiary that arises in the ordinary course of its finance company business and represents amounts due in respect of loans made by the Borrower or such Restricted Subsidiary to the debtor obligated thereon. “Fixed Asset Financing” means the acquisition by the Borrower of one or more fixed assets in an aggregate amount not to exceed $1,500,000, which financing (a) shall amortize over time and not be subject to being re-borrowed and (b) may be secured by the fixed assets so acquired. “Fixed Charges” for any period means, on a consolidated basis, the sum of (a) all Rentals (other than Capitalized Rentals) payable during such period by the Borrower and its Restricted Subsidiaries, and (b) all Interest Charges on all Indebtedness (including the interest component of Capitalized Rentals) of the Borrower and its Restricted Subsidiaries.

Finance Receivable means the following:

Finance Receivable means each Receivable of the Borrower or any Restricted Subsidiary which arises in the ordinary course of its finance company business and represents amounts due in respect of loans made by the Borrower or such Restricted Subsidiary to the debtor obligated thereon. "FIXED CHARGES" for any period means, on a consolidated basis, the sum of (i) all Rentals (other than Capitalized Rentals) payable during such period by the Borrower and its Restricted Subsidiaries, and (ii) all Interest Charges on all Indebtedness (including the interest component of Capitalized Rentals) of the Borrower and its Restricted Subsidiaries. "GAAP" means generally acceptable accounting principles at the time in the United States. "GOVERNING DOCUMENTS" shall mean collectively the charter instruments, by-laws, partnership agreements, operating agreements and other similar documents prescribing the internal governance of each Restricted Subsidiary. "GUARANTIES" by any Person shall mean all obligations (other than endorsements in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any Indebtedness, dividend or other obligation, of any other Person (the "PRIMARY OBLIGOR") in any manner, whether directly or indirectly, including, without limitation, all obligations incurred through an agreement, contingent or otherwise, by such Person: (i) to purchase such Indebtedness or obligation or any property or assets constituting security therefor, (ii) to advance or supply funds (x) for the purchase or payment of such Indebtedness or obligation, (y) to maintain working capital or other balance sheet condition or otherwise to advance or make available funds for the purchase or payment of such Indebtedness or obligation, (iii) to lease property or to purchase Securities or other property or services primarily for the purpose of assuring the owner of such Indebtedness or obligation of the ability of the primary obligor to make payment of the Indebtedness or obligation, or (iv) otherwise to assure the owner of the Indebtedness or obligation of the primary obligor against loss in respect thereof. For the purposes of all computations made under this Agreement, a Guaranty in respect of any Indebtedness for Borrowed Money shall be deemed to be Indebtedness equal to the principal amount of such Indebtedness for Borrowed Money which has been guaranteed, and a Guaranty in respect of any other obligation or liability or any...