Receivables in Defaulted Accounts. A Receivable shall be deemed to have been created at the end of the day on the Date of Processing of such Receivable. In calculating the aggregate amount of Principal Receivables on any day, the amount of Principal Receivables shall be reduced by the aggregate amount of credit balances in the Accounts on such day. Any Receivables which the Transferor is unable to transfer as provided in subsection 2.5(e) shall not be included in calculating the aggregate amount of Principal Receivables.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Dillard Asset Funding Co), Pooling and Servicing Agreement (Chase Manhattan Bank Usa), Pooling and Servicing Agreement (Dillard Asset Funding Co)
Receivables in Defaulted Accounts. A Receivable shall be deemed to have been created at the end close of the day business on the Date of Processing of such Receivable. In calculating the aggregate amount of Principal Receivables on any day, the amount of Principal Receivables shall be reduced by the aggregate amount of credit balances in the Accounts at the close of business on such the preceding day. Any Receivables which the Transferor Originator is unable to transfer as provided in subsection 2.5(e2.05(d) shall not be included in calculating the aggregate amount of Principal Receivables.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Dillard Asset Funding Co)
