Realized Loss

Realized Loss. Shall mean, with respect to each Defaulted Account, an amount as of the date of such liquidation, equal to (i) the Principal Receivables then due and owing in respect of such Defaulted Account, plus (ii) all accrued and unpaid Finance Charge Receivables in respect of such Defaulted Account, minus (iii) any Recoveries in respect of such Defaulted Account.