Common use of Deferred Payment Amount Clause in Contracts

Deferred Payment Amount. The Purchaser covenants and agrees to immediately after receipt thereof remit and transfer to Xxxxx any amounts received by the Purchaser (as transferor under the Receivables Purchase and Administration Agreement) pursuant to Section 2.8(d)(ii) of the Receivables Purchase and Administration Agreement (collectively, the “Deferred Payment Amount”). The parties acknowledge and agree that the Deferred Payment Amount: (a) will reflect an allocation of 5% of the aggregate amount of the Principal Balances of the Receivables which became Written-Off Receivables and an allocation of 5% of the aggregate amount of Recoveries, and (b) will vary inversely to the amount of such Written-Off Receivables net of such Recoveries.

Deferred Payment Amount. The Purchaser covenants and agrees to immediately after receipt thereof remit and transfer to Xxxxx T-Mobile PCS any amounts received by the Purchaser (as transferor under the Master Receivables Purchase and Administration Agreement) pursuant to Section 2.8(d)(ii) of the Master Receivables Purchase and Administration Agreement (collectively, the “Deferred Payment Amount”). The parties acknowledge and agree that the Deferred Payment Amount: (a) will reflect an allocation of 5% of the aggregate amount of the Principal Outstanding Balances of the Receivables which became Written-Off Receivables and an allocation of 5% of the aggregate amount of Recoveries, and (b) will vary inversely to the amount of such Written-Off Receivables net of such Recoveries.