Discount Option Collections definition
Discount Option Collections shall have the meaning specified in Section 2.12. The aggregate amount of Discount Option Collections on any Date of Processing shall equal the product of (a) the amount of any Collections of Principal Receivables received on such Date of Processing and (b) the Discount Percentage, if any, in effect on such Date of Processing.
Discount Option Collections means on any day occurring on or after the initial Discount Option Date, the product of (i) the Discount Option Percentage and (ii) Collections of all Receivables that are Principal Receivables or would otherwise be Principal Receivables received on such day. “Discount Option Date” means each date on which a Discount Option Percentage designated by the Seller pursuant to Section 2.19 takes effect. “Discount Option Percentage” has the meaning specified in subsection 2.19(a). “Discount Option Receivables” has the meaning specified in subsection 2.19(a). “Distribution Date” means the fourth (4th) Business Day of each calendar week. “Dollars” and the sign “$” mean the lawful money of Canada. “Early Amortization Event” means the occurrence of any of the following events: