Single interest insurance definition

Single interest insurance means insurance purchased by the creditor to insure its interest in the collateral securing a debtor's credit transaction where the following 3 conditions must be met for payment of loss under the policy:
Single interest insurance means credit personal property insurance covering only the seller’s or creditor’s interest in the goods purchased through the credit transaction or pledged as collateral in the credit transaction.
Single interest insurance means insurance purchased by the creditor to insure its interest in the collateral securing a debtor’s credit transaction which requires that three conditions be met for payment of loss under the policy:

Examples of Single interest insurance in a sentence

  • Bank is authorized, but not obligated, to purchase any or all insurance or "Single interest insurance" protecting such interest as Bank deems appropriate against such risks and for such coverage and for such amounts, including either the loan amount or value of the Collateral at its discretion, all at Debtor's expense.

  • Notwithstanding any other provision of law, a debt cancellation or debt suspension product shall not be considered insurance.(C) Single interest insurance shall be listed as a specific good in a retail installment contract.

  • Single interest insurance, which again vary depending on her type of die you review, the seller should deliver new goods having a reasonable time after new contract also made.

  • Single interest insurance, also known as vendor single interest insurance or VSI insurance, protects the lender but not the borrower in a home or car loan.

  • Single interest insurance shall be listed as a specific good in a retail installment contract.

  • Single interest insurance is a policy of insurance purchased by the seller to protect it in the event that the buyer defaults on the contract.


More Definitions of Single interest insurance

Single interest insurance. You may obtain insurance from anyone that is acceptable to us. Filing Fees Non-Filing Insurance
Single interest insurance means insurance purchased by the
Single interest insurance means credit personal
Single interest insurance means insurance purchased by the creditor to insure its interest in the collateral securing a debtor's credit transaction. Three

Related to Single interest insurance

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

  • Consolidated Depreciation and Amortization Charges means, for any period, the aggregate of all depreciation and amortization charges for fixed assets, leasehold improvements and general intangibles (specifically including goodwill) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Consolidated Depreciation and Amortization Expense means, with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees or costs, capitalized expenditures, customer acquisition costs and incentive payments, conversion costs and contract acquisition costs, the amortization of original issue discount resulting from the issuance of Indebtedness at less than par and amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

  • Insurance group means the persons that comprise an insurance holding company system.