Credit Adjustments definition

Credit Adjustments means, with respect to any Transferred Receivable, any net credits, rebates, cash discounts, volume discounts, cooperative advertising expenses, customer refunds, disputes, setoffs, chargebacks, allowances for early payments and other similar allowances that are reflected on the books of the Originator and made in accordance with the usual practices of the Originator and the Credit and Collections Policy; provided, that (a) any allowances or adjustments in accordance with the Credit and Collection Policies made on account of the actual or impending insolvency of the Obligor thereunder or the Obligor's inability to pay shall not constitute a Credit Adjustment and (b) a Permitted Setoff Right shall not constitute a Credit Adjustment.
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Examples of Credit Adjustments in a sentence

  • The Receivables Trustee shall maintain at all times accurate records reflecting Receivables in Defaulted Accounts, Credit Adjustments or Reductions and the allocation thereof amongst the Beneficiaries.

  • The allocations to be made pursuant to this Section 4.05 of the Agreement also apply to deposits into the Collection Account that are treated as Collections, including Credit Adjustments, payment of the reassignment price pursuant to Section 2.07 of the Agreement and proceeds from the sale, disposition or liquidation of the Receivables pursuant to Section 9.02, 10.01, 12.01 or 12.02 of the Agreement and Section 3 of this Series Supplement for Series 2002-CC.

  • Seller shall submit to Purchaser a Status Report on the dates specified in the immediately following sentence, substantially in the form of Exhibit V ("Status Report") consisting of information concerning Collections, Credit Adjustments, and Defaulted Receivables.

  • Complete History Of All Invoiced Amounts, Debit Or Credit Adjustments And Payments .

  • There are no known counterclaims or rights of set-off limiting the right of Purchaser to collect the Outstanding Balance, as adjusted for Credit Adjustments, of each such Receivable.

  • Following the determination of the Excess Requirements for each Series, the remaining collections of Principal Receivables, Purchase Proceeds and amounts deposited to the Collection Account in respect of Credit Adjustments shall be allocated to the Co-Owners of each Series in an amount equal to the remaining Available Excess Collections.

  • As a result of its ownership of an Ownership Interest, each Co-Owner shall be entitled to participate in and receive its share of Collections, Purchase Proceeds and amount deposited in respect of Credit Adjustments and shall be obligated to share in any Written-Off Amounts and pay its share of Pool Expenses, all as and to the extent provided herein and under the applicable Series Purchase Agreement.

  • If the reduction of the Principal Receivables in accordance with the foregoing would cause the Retained Interest Amount to be an amount less than zero, the Seller shall, subject to Section 5.02(b), make a deposit, no later than the Business Day following the Date of Processing of such Credit Adjustment, in the Collection Account in immediately available funds in an amount equal to the amount by which such Credit Adjustments exceed the Retained Interest Amount on such Date of Processing.

  • The Purchase Price payable to ----------------------------- RPA Seller shall be adjusted on a monthly basis to reflect any Credit Adjustments during the prior month, except to the extent that RPA Seller has made a payment to Buyer with respect to any such Credit Adjustment pursuant to Section 5.1(o).

  • On each Business Day, RNB shall deliver a settlement statement (the "Settlement Statement") to TCC, showing the aggregate Purchase Price of Receivables conveyed to TCC on such Business Day, and the amount which remains unpaid as Credit Adjustments made with respect to such Business Day pursuant to Section 3.2 hereof and any adjustment to the Purchase Price of Receivables with respect to such Business Day pursuant to Section 6.1 hereof.