Adjusted Net Receivables Balance definition

Adjusted Net Receivables Balance means, at any time, the Net Receivables Balance at such time less the sum of (i) the Cash Discount Exposure Factor at such time, plus (ii) the aggregate Contractual Rebate Accrual at such time with respect to all Eligible Receivables.

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Adjusted Net Receivables Balance means, at any time, the result of (a) the aggregate Outstanding Balance of all Eligible Receivables, minus (b) the Adjusted Overconcentration Amount, minus (c) the Pass-Through Reserve at such time, minus (d) the Warranty Reserve at such time, minus (e) Price Give-Back Accrual at such time minus (f) the Sales-Promotion Reserve; provided, however, that the sum of the Pass-Through Reserve, the Price Give-Back Accrual, the Warranty Reserve, the Sales-Promotion Reserve and the Adjusted Overconcentration Amount attributable to any Obligor shall not exceed the aggregate Outstanding Balance of all Eligible Receivables for such Obligor included in the calculation of the Adjusted Net Receivables Balance.

Adjusted Net Receivables Balance means, as of any date of determination, the sum of (i) the Net Receivables Balance, (ii) if the Fixed Charge Coverage Ratio as most recently reported is greater than 1.30 to 1.00, the lesser of (A) the aggregate Outstanding Balance of all Eligible Receivables the Obligors of which are Permitted Affiliate Obligors and (B) 4.00% of the Net Receivables Balance, (iii) the lesser of (A) the aggregate Outstanding Balance of all Eligible Receivables the Obligors of which are Foreign Obligors and (B) 2.00% of the Net Receivables Balance and (iv) the lesser of (A) the aggregate Outstanding Balance of all Eligible Receivables the Obligor of which is the U.S. government and (B) 5% of the Net Receivables Balance.

Examples of Adjusted Net Receivables Balance in a sentence

At no time prior to the Amortization Date shall Seller permit the Adjusted Net Receivables Balance to be less than an amount equal to the sum of (i) the Aggregate Capital plus (ii) the Aggregate Reserves.
In no event shall the Aggregate Capital outstanding hereunder exceed the lesser of (1) the Purchase Limit and (2) the difference between the Adjusted Net Receivables Balance and the Aggregate Reserves.
Seller represents and warrants that Seller has determined that, immediately after giving effect to each Incremental Purchase and Reinvestment hereunder, the Adjusted Net Receivables Balance is at least equal to the sum of (i) the Aggregate Capital, plus (ii) the Aggregate Reserves.
On each Weekly Settlement Date, unless the Termination Date shall have occurred, Available Funds, first from the Collection Account and second from the Investment Account, shall be applied to the extent required to make payments ratably to the Purchasers in an amount, if any, necessary to reduce the Investments so that the Aggregate Investment does not exceed the Adjusted Net Receivables Balance.
If after application of such Available Funds, the Aggregate Investment exceeds the Adjusted Net Receivables Balance, the Originators shall pay such excess to the Purchasers to reduce the Investments to the extent of any Available Funds transferred to the Originators under Section 1.8(b) on any Business Day since the previous Weekly Settlement Date.
On the Weekly Settlement Date in the first week of each Two Week Period, unless the Termination Date shall have occurred, Available Funds, first from the Collection Account and second from the Investment Account, shall be applied to the extent required to make payments ratably to the Purchasers in an amount, if any, necessary to reduce the Investments so that the Aggregate Investment does not exceed the Adjusted Net Receivables Balance.