Common use of Nature of Pool Receivables Clause in Contracts

Nature of Pool Receivables. Each Pool Receivable represented by it (i) to be an Eligible Receivable in any Servicer Report or (ii) included in the calculation of the Borrowing Base satisfies at such time the definition of “Eligible Receivable” set forth herein.

Nature of Pool Receivables. Each Pool Receivable represented by it (i) to be an Eligible Receivable in any Servicer Report or (ii) included in the calculation of the U.S. Borrowing Base or Canadian Borrowing Base satisfies at such time the definition of “Eligible Receivable” set forth herein.