Delinquent Accounts

Delinquent Accounts. Shall mean the sum of (i) the full unpaid principal amount (less unearned charges and dealer and special reserves applicable thereto) of notes, receivables and other obligations (other than direct loans) on which any installment of interest or principal is over sixty (60) days past due or in respect to which there have been repossessions of merchandise or property, and (ii) the full unpaid principal amount (less unearned charges and dealer and special reserves applicable thereto) of direct... loans on which no collection of interest or principal has been received within sixty (60) days or on which only interest and charges were received within sixty (60) days, or in respect of which there have been repossessions of merchandise or property. View More