Administrative Receivable definition

Administrative Receivable means a Receivable which the Servicer is required to purchase pursuant to Section 3.08 or which the Servicer has elected to purchase pursuant to Section 8.01.

Administrative Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Section 4.06 or Section 9.01.

Administrative Receivable means, with respect to any Collection Period, a Receivable which the Servicer is required to purchase pursuant to Section 4.7 or which the Servicer has elected to purchase pursuant to Section 4.4(c) on the Determination Date with respect to such Collection Period.

Examples of Administrative Receivable in a sentence

• If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuer (in the case of a Receivable other than an Administrative Receivable or a Warranty Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer.

• As of the second Accounting Date (or, at the Servicer’s election, the first Accounting Date) following notice to or discovery by the Servicer of a breach of any covenant of the Servicer that materially and adversely affects any Receivable, unless such breach is cured in all material respects, the Servicer shall, with respect to such Receivable (an “Administrative Receivable”) purchase such Administrative Receivable from the Issuer at a price equal to the Administrative Purchase Payment.

• Upon (i) the repurchase of a Warranty Receivable by NFC pursuant to the Purchase Agreement, (ii) purchase of a Warranty Receivable by NFRRC pursuant to the Pooling Agreement or (iii) purchase of an Administrative Receivable by the Servicer pursuant to Section 2.08(a) of this Agreement, the Servicer shall deliver the related Receivable File to or at the direction of the purchaser.

• Upon the assignment of such Administrative Receivable described in the preceding sentence, the Servicer shall own such Administrative Receivable, and all such Related Assets, free of any further obligations to such Person with respect thereto.

• The Servicer shall contribute any Administrative Receivable that is a Retail Lease and its Related Assets to the General Interest in the Titling Trust (or to such other person as shall be designated by Harco Leasing).

More Definitions of Administrative Receivable

Administrative Receivable. With respect to any Monthly Period, a Receivable which the Servicer is required to purchase pursuant to Section 3.7 or which the Servicer has elected to purchase pursuant to Section 3.4(c).

Administrative Receivable. As defined in Section 2.08 of the Servicing Agreement. Administrator: NFC or any successor Administrator under the Administration Agreement.

Administrative Receivable means, so long as Triad is the Servicer, with respect to any Collection Period, a Receivable which the Servicer is required to purchase pursuant to Section 4.7 on the Determination Date with respect to such Collection Period.

Administrative Receivable means a Receivable which the Servicer is required to purchase pursuant to Section 3.02 or 3.08 or which the Seller or the Servicer has elected to purchase pursuant to Section 10.02.

Administrative Receivable means, with respect to any Collection Period, a Receivable which the Servicer is required to purchase pursuant to Section 4.7 with respect to such Collection Period.

Administrative Receivable means a Receivable which the Servicer has repurchased pursuant to Section 3.8 of the Master Servicing Agreement.

Administrative Receivable. With respect to any Monthly Period, a Receivable (including any Liquidated Receivable) which the Servicer is required to purchase pursuant to Section 3.7 on the Deposit Date with respect to such Monthly Period.