FTC Charges definition
FTC Charges means the lesser of (a) the aggregate amount of charges and other losses resulting from the investigation (the “Investigation”) commenced prior to the effective date of the Third Amendment to this Agreement by the Federal Trade Commission of the debt collection-related practices of the Borrower and its Subsidiaries, to include, without limitation, any fines, civil monetary penalties, or other monetary relief to be paid by the Borrower or any of its Subsidiaries as a result of a consent decree or a contested action, any expense related to any accrual for such amounts, and fees and disbursements of counsel for the Borrower or any of its Subsidiaries incurred in connection with the Investigation or defense of any governmental action or other proceeding arising from the Investigation, or (b) $7,000,000.
FTC Charges means the lesser of (a) the aggregate amount of charges and other losses resulting from the investigation (the “Investigation”) commenced prior to May 28, 2010 by the Federal Trade Commission of the debt collection-related practices of the Borrower and its Subsidiaries, to include, without limitation, any fines, civil monetary penalties, or other monetary relief to be paid by the Borrower or any of its Subsidiaries as a result of a consent decree or a contested action, any expense related to any accrual for such amounts, and fees and disbursements of counsel for the Borrower or any of its Subsidiaries incurred in connection with the Investigation or defense of any governmental action or other proceeding arising from the Investigation, or (b) $7,000,000.