Acquired Receivable definition

Acquired Receivable means, for a Collection Period, a Receivable (a) acquired by the Servicer under Section 3.3 of the Transfer and Servicing Agreement, (b) acquired by the Marketing Agent under Section 4.3(i) of the Transfer and Servicing Agreement, (c) reacquired by an Originator under Section 3.4 or 4.6 of the Originator Receivables Transfer Agreement, or (d) acquired by the Servicer under Section 3.4 or 4.7 of the Master Trust Receivables Transfer Agreement and for which, in each case, the acquisition or reacquisition is effective during the Collection Period and the Acquisition Amount is included in Available Funds for the related Payment Date.

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Acquired Receivable means a Receivable acquired by a the Transferor through a bulk purchase of Receivables or the acquisition of a financial institution that owned the Receivable.

Acquired Receivable means, for a Collection Period, a Receivable (a) acquired by the Servicer under Section 3.3 of the Transfer and Servicing Agreement, (b) acquired by the Marketing Agent under Section 4.3(i) of the Transfer and Servicing Agreement, (c) reacquired by an Originator under Section 3.4 or 4.6 of the Originator Receivables Transfer Agreement, (d) acquired by the Servicer under Section 3.4 or 4.7 of the Master Trust Receivables Transfer Agreement or (e) acquired by the Servicer under Section 3.4 or 4.7 of the VZMT Receivables Transfer Agreement and for which, in each case, the acquisition or reacquisition is effective during the Collection Period and the Acquisition Amount is included in Available Funds for the related Payment Date.

Examples of Acquired Receivable in a sentence

Each Acquired Receivable represents a valid obligation arising from a sale actually made or services actually performed by Seller in the Ordinary Course of Business.
When payments are received on account of any obligor under any such Acquired Receivable, the Surviving Corporation shall apply such payments first, to any invoice(s) referenced in connection with such payments, second, to the oldest invoice where the amount of the payment matches the amount set forth on the invoice, and third to the oldest unpaid invoices.
If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuer (in the case of a Receivable other than an Acquired Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer.
The Servicer and the Transferor will deposit the Acquisition Amount with respect to each Acquired Receivable when such obligations are due, unless, with respect to Acquisition Amounts to be remitted by the Servicer, the Servicer shall be permitted to make deposits monthly prior to each Distribution Date pursuant to Section 5.02, in which case such deposits shall be made in accordance with such Section.
MCC further agrees not to alter the computer file designation referenced in this paragraph with respect to the Receivables during the term of this Agreement unless and until such Receivable becomes an Acquired Receivable.
The Transferor further agrees not to alter the computer file designation referenced in this paragraph with respect to any Receivable during the term of this Agreement unless and until such Receivable becomes an Acquired Receivable.
It will not make any change in the Credit and Collection Policies without the prior written consent of the Administrative Agent except, in either case, for any such change (i) that would not (A) impair the collectibility of the Acquired Receivable in any material respect, (B) otherwise have a Material Adverse Effect or (C) adversely affect in any material respect the interests or remedies of the Buyer (or its assignees), or (ii) as required by applicable Law.
If required by us, for each Receivable, Acquired Receivable and VAT Receivable, the Loan Parties will give written notice to the Debtor concerned that we are the owner of the Receivable, Acquired Receivable or VAT Receivable, as applicable, and that payment of Receivables, Acquired Receivables and VAT Receivables, as applicable, must be made to us directly.
Each Acquired Receivable included as an Eligible Receivable in any Portfolio Report was an Eligible Receivable as of the date of such Portfolio Report.
Thereafter, collection of such unpaid Acquired Receivable shall be the responsibility of Seller, with all such proceeds going to Seller.

More Definitions of Acquired Receivable

Acquired Receivable means a Receivable acquired as of the close of business on the last day of a Collection Period by the Servicer pursuant to Section 4.07 or reacquired as of such time by the Transferor pursuant to Section 3.02.

Acquired Receivable means each and every Receivable that existed and was owing to a Seller as of the opening of such Seller’s business on the Initial Purchase Date applicable to such Seller and each Receivable created or originated by such Seller from the opening of such Seller’s business on the Initial Purchase Date applicable to such Seller to and including such Seller’s Termination Date; provided that (i) no Receivable the Obligor of which is included on Schedule 9 (Excluded Obligors) attached to the Receivables Transfer Agreement on the Effective Date or created or acquired by a Seller on or after the date the Administrative Agent has received written notice from such Seller or the Seller Agent including such Obligor on the revised Schedule 9 (Excluded Obligors) shall be an Acquired Receivable hereunder unless in either case, the Administrative Agent has received written notice from such Seller or the Seller Agent removing such Obligor from the revised Schedule 9 (Excluded Obligors) and (ii) no Receivable constituting a Repurchased Receivable shall be considered an Acquired Receivable hereunder after such Repurchased Receivable’s Repurchase Date.

Acquired Receivable means each Receivable acquired by the Transferor under the U.S. RPA; provided that no Receivable constituting a Repurchased Receivable shall be considered an Acquired Receivable hereunder after such Repurchased Receivable’s Repurchase Date.

Acquired Receivable means an Account Receivable which is designated by Buyer prior to Closing as an Account Receivable which Buyer wishes to acquire.