Charge-Off definition

Charge-Off means, for any period with respect to a particular Shared-Loss Asset, the amount of a loan or portion of a loan classified as “Loss” under the Examination Criteria as effected by the Assuming Institution and reflected on its Accounting Records for such period, consisting solely of a charge-off of the following:

Charge-Off means any Receivable that has or should have been (in accordance with the related Credit and Collection Policy) charged-off or written-off by the Seller for reasons relating to the bad credit of the related Obligor.

Charge-Off means any Receivable that has or should have been (in accordance with the Credit and Collection Policy) charged off or written off by the Seller.

Examples of Charge-Off in a sentence

• In the event that the Receiver does not make any payments with respect to any Charge-Off of a Shared-Loss Asset pursuant to this Section 2.1 or determines that a payment was improperly made, the Assuming Bank and the Receiver shall make such accounting adjustments and payments as may be necessary to give retroactive effect to such corrections.

• The Receiver shall not be required to make any payments pursuant to this Section 2.1 with respect to any Charge-Off of a Shared- Loss Asset that the Receiver or the Corporation determines, based upon the Examination Criteria, should not have been effected by the Assuming Bank.

• Any dispute as to whether a Charge-Off of a Shared-Loss Asset was made in accordance with the Examination Criteria shall be finally resolved by the Assuming Institution’s Chartering Authority.

• In the event that the Receiver does not make any payments with respect to any Charge-Off of a Shared-Loss Asset pursuant to this Section 2.1 or determines that a payment was improperly made, the Assuming Institution and the Receiver shall, upon final resolution, make such accounting adjustments and payments as may be necessary to give retroactive effect to such corrections.

• Promptly following any Loan satisfying the charge off criteria as set forth in its Charge Off Policy, Servicer shall, in accordance with the Charge-Off Policy, charge off the related Loan (the date of such charge-off being the “Charge Off Date” and each such Loan, a “Charged Off Loan”).

More Definitions of Charge-Off

Charge-Off. Original Appraised Value Current appraised value based upon "drive by" Amount of outstanding first lien Estimate of Foreclosure Costs Broker Fees Legal Fees Repair and Miscellaneous Expenses Projected Marketing Period Estimate of Loss on Foreclosure and Liquidation Capitalized terms not otherwise defined herein have the meanings set forth in the Pooling and Servicing Agreement.

Charge-Off. Original Principal Balance Outstanding Principal Balance Mortgage Loan Rate Accrued Interest at time of "charge off" Unreimbursed Servicing Advances at time of "charge off" Unreimbursed Delinquency Advances at time of "charge off" # of days in default at time of "charge off" Original Appraised Value Current appraised value based upon "drive by" Amount of outstanding first lien Estimate of Foreclosure Costs Broker Fees Legal Fees Repair and Miscellaneous Expenses Projected Marketing Period Estimate of Loss on Foreclosure and Liquidation Capitalized terms not otherwise defined herein have the meanings set forth in the Pooling and Servicing Agreement.

Charge-Off means a direct reduction (credit) to the carrying amount of a loan carried at amortized cost resulting from uncollectability with a corresponding reduction (debit) of the ALLL. Recoveries of loans previously charged off should be recorded when received.

Charge-Off means a Receivable not previously deemed a Defaulted Receivable that is written-off by the Servicer or should, in accordance with the Credit and Collection Policy, be written-off.

Charge-Off means the treatment of a receivable balance by a creditor as a loss or expense because payment is unlikely.1Those asset classes that are not subject to governmental requirements for Charge-Off or have not otherwise adopted the Charge-Off accounting standard should use Default.

Charge-Off means the extent to which any Transferred Receivable is subject to any Dilution Factor described in clause (a) of the definition thereof.

Charge-Off means the act of a creditor that treats an account receivable or other debt as a loss or expense because payment is unlikely.