ChargeOffs

ChargeOffs. Means, with respect to any Collection Period, with respect to the receivables in any Receivables Pool or the Managed Assets, 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). View More