Nonperforming Loan definition

Nonperforming Loan means any Loan in respect of which at least two (2) Monthly Payments are Delinquent.

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Nonperforming Loan means a loan in respect of which payment of principal or interest is in arrears for more than ninety days;

Nonperforming Loan means a loan over 90 days past due with respect to principal and/or interest.

Examples of Nonperforming Loan in a sentence

B) Reperformance Fee: With respect to each *, the * fee payable to Ocwen in the month following such period in which such Mortgage Loan becomes a Reperforming Mortgage Loan (any Nonperforming Loan that has made * payments or * payments), which fee shall equal * as of the related Determination Date.
The Servicer, either itself or through an agent selected by the Servicer, shall administer and manage the Non-performing Loan in the manner directed in this Agreement or by Purchaser, and in the event no such direction is provided by Purchaser, then in accordance with Accepted Servicing Practices in the same manner that Servicer administers and manages other similar non-performing loans for its own account, and in the same manner that similar non-performing loans are administered and managed.
The "Collateral ---------- Ratio" shall mean, with respect to any Nonperforming Loan, the outstanding ----- principal balance of the Revolving Loans divided by the outstanding principal balance of the Collateral Loans, determined as of the Payment Date immediately following the date of the occurrence of the first event of default under the related Loan Documents that caused such Collateral Loan to become a Nonperforming Loan.
In the event that any Mortgage Loan becomes a Non-performing Loan, the Servicer shall administer and manage each Non-performing Loan for the Purchaser and the Company solely for the purpose of its prompt resumption of payment of principal, interest and any fees attendant to its non-performing status.
Upon discovery by Purchaser of a Nonperforming Loan during the Repurchase Period, Purchaser shall provide prompt written notice of such discovery to Seller (the “Repurchase Notice”).

More Definitions of Nonperforming Loan

Nonperforming Loan means, as of the Effective Time on the Closing Date, any Loan with respect to which (1) any principal or interest shall be due and unpaid by the obligor thereunder for more than sixty (60) days prior to the Closing Date; (2) an obligor has filed or has had filed against such obligor proceedings in bankruptcy, trusteeship or receivership and Seller has been notified of such filing; (3) the loans or receivables have been completely charged off; (4) the balance is no longer owed by the obligor as a result of a settlement agreement between the obligor and Seller or any of its Subsidiaries; (5) there are pending legal proceedings with respect to the obligor’s inability or refusal to pay principal or interest due on such Loan; or (6) Seller has Knowledge that such Loan will not be repaid in full.

Nonperforming Loan with respect to CMS Bank means an asset required to be reported, as of any date of reference, in Column B or Column C of Items 1 through 9 of Schedule RC-N to FFIEC Form 041 (Consolidated Report of Condition and Income), as in force on the date of this Agreement, whether or not CMS Bank is required to report such items or is required to report as required in the instructions to such form, and “Nonperforming Loans” shall mean them collectively.

Nonperforming Loan means, as of the Effective Time, any Loan with respect to which (i) any principal or interest on such Loan shall be due and unpaid by the obligor thereunder for sixty (60) days or more prior to the Closing Date, (ii) an obligor has filed or has had filed against such obligor proceedings in bankruptcy, trusteeship or receivership, (iii) the Loan is subject to a pending legal proceeding related to an obligor’s inability or refusal to pay such Loan, (iv) the Loan has been completely charged off and (iv) the balance is no longer owed by the obligor whether or not as a result of a settlement agreement between the obligor and Seller.

Nonperforming Loan means, as of the Close of Business on the Closing Date, (a) any Loan or (b) any receivable associated with the Purchased Credit Card Accounts and Receivables, in either case with respect to which (i) any principal or interest on such loan or receivable shall be due and unpaid by the obligor thereunder for ninety (90) days or more prior to the Closing Date (other than loans guaranteed by the Veterans’ Administration or the Federal Housing Administration), (ii) an obligor has filed or has had filed against such obligor proceedings in bankruptcy, trusteeship or receivership, (iii) the loans or receivables have been completely charged off, (iv) the balance is no longer owed by the obligor whether or not as a result of a settlement agreement between the obligor and Seller or any of its Subsidiaries or (v) in the case of a Mortgage Loan, the loan has been repurchased by Seller or any of its Subsidiaries.

Nonperforming Loan means, as of the Close of Business on the Closing Date, any Loan with respect to which (i) any principal or interest on such loan or receivable shall be due and unpaid by the obligor thereunder for sixty (60) days or more prior to the Closing Date (other than loans guaranteed by the Veterans’ Administration or the Federal Housing Administration), (ii) an obligor has filed or has had filed against such obligor proceedings in bankruptcy, trusteeship or receivership, (iii) the loans or receivables have been completely charged off, (iv) the balance is no longer owed by the obligor whether or not as a result of a settlement agreement between the obligor and Seller or any of its Subsidiaries or (v) in the case of a mortgage loan, the loan has been repurchased by Seller or any of its Subsidiaries.

Nonperforming Loan means any Collateral Loan with respect to ------------------ which no payment of principal or interest has been made for at least ninety (90) days.

Nonperforming Loan means, as of the Close of Business on the Closing Date, (a) any Loan or (b) any receivable associated with the Purchased Credit Card Accounts and Receivables, in either case with respect to which (i) any principal or interest on such loan or receivable shall be due and unpaid by the obligor thereunder for sixty (60) days or more prior to the Closing Date, (ii) an obligor has filed or has had filed against such obligor proceedings in bankruptcy, trusteeship or receivership, (iii) the loans or receivables have been completely charged off, (iv) the balance is no longer owed by the obligor whether or not as a result of a settlement agreement between the obligor and HSBC or any of its Subsidiaries or (v) in the case of a mortgage loan, the loan has been repurchased by HSBC or any of its Subsidiaries.