Common use of Temporarily Excluded Receivables Clause in Contracts

Temporarily Excluded Receivables. On any date of determination where the pool of Receivables does not satisfy all of the Pool Composition Tests, the Administrator may identify Receivables in the pool as Temporarily Excluded Receivables as long as the Overcollateralization Target Amount is reached as of the close of business on such date without taking into account the Temporarily Excluded Receivables, so that the remaining Receivables in the pool will satisfy all of the Pool Composition Tests. The Administrator will provide to the Servicer any information about the Temporarily Excluded Receivables required by the Servicer to enable the Servicer to determine for such Collection Period the aggregate Principal Balance of the Receivables deemed Temporarily Excluded Receivables. For any subsequent date after such Receivables have been deemed to be Temporarily Excluded Receivables, the Administrator may, in its sole discretion, designate any Temporarily Excluded Receivables to no longer be Temporarily Excluded Receivables as long as after such designation by the Administrator, all of the Pool Composition Tests either will remain satisfied or will not be adversely affected. The Administrator also will provide to the Servicer any information about the Temporarily Excluded Receivables required by the Servicer to enable the Servicer to state on the Monthly Investor Report for the Collection Period in which such redesignation occurs the aggregate Principal Balance of the Receivables no longer deemed Temporarily Excluded Receivables.