Gross Charge-Offs definition
Gross Charge-Offs minus its "Recoveries," as those items are reflected in its quarterly call reports.
Gross Charge-Offs. For any Determination Period, the Outstanding Balance of all Purchased Contracts that became Defaulted Contracts during such period.
Gross Charge-Offs means, with respect to any Collection Period, with respect to the receivables in any Receivables Pool or the Servicing Portfolio, the aggregate principal balances of all such receivables (i) as to which 5% or more of a scheduled receivable payment shall have become 120 or more days delinquent (excluding receivables for which the Financed Vehicle has been repossessed and receivables for which the Obligor is bankrupt), or (ii) that the Servicer has charged-off (or in respect of which the Servicer has otherwise determined in good faith that payments relating thereto are not likely to be resumed).
Examples of Gross Charge-Offs in a sentence
Gross Charge-Offs of any Account shall be made for all Receivables in the Account, with a pro rata reduction (based on Purchase Prices) in Purchased Receivables and Non-Purchased Receivables in the Account.
Recoveries with respect to any Account shall be applied (1) first, in respect of Gross Charge-Offs of Purchased Receivables in the Account until such Recoveries equal the amount of such Gross Charge-Offs of Purchased Receivables in full and (2) second, in respect of Gross Charge-Offs of Non-Purchased Receivables in the Account.
More Definitions of Gross Charge-Offs
Gross Charge-Offs means for any period the aggregate amount of all unpaid principal balances (including any service contract amounts included therein) due under Vehicle Contracts which have been charged off by the Borrower during such period, including the principal balances due under all Vehicle Contracts where the Vehicle has been repossessed by Borrower during such period.
Gross Charge-Offs means any charged-off principal plus charged-off fees and finance charges for a given period.”
Gross Charge-Offs means, with respect to any Collection Period, the ----------------- aggregate Principal Balances of all Receivables (i) as to which 5% or more of a Scheduled Receivable Payment shall have become 120 or more days delinquent (excluding Receivables for which the Financed Vehicle has been repossessed and Receivables for which the Obligor is bankrupt), or
Gross Charge-Offs means, for any period, the aggregate balance of Receivables that are written off during such period as uncollectible in accordance with the Credit Card Guidelines.
Gross Charge-Offs and “Obligor” therein shall be deemed to refer to “Receivables” as if they constituted “receivables”.
Gross Charge-Offs means total (****) including (****). (****)
Gross Charge-Offs. With respect to Accounts that have been written off in a particular period in accordance with the Underwriting and Credit Policy, the portion of the total Gross Receivables charged-off as uncollectible in accordance with such Underwriting and Collection Policy (and not as a result of fraud losses) during such period.