Discount Option Receivables shall have the meaning specified in Section 2.12. The aggregate amount of Discount Option Receivables outstanding on any Date of Processing occurring on or after the Discount Option Date shall equal the sum of (a) the aggregate Discount Option Receivables at the end of the prior Date of Processing (which amount, prior to the Discount Option Date, shall be zero) plus (b) any new Discount Option Receivables created on such Date of Processing minus (c) any Discount Option Receivable Collections received on such Date of Processing. Discount Option Receivables created on any Date of Processing shall mean the product of the amount of any Principal Receivables created on such Date of Processing (without giving effect to the proviso in the definition of Principal Receivables) and the Discount Percentage.

Discount Option Receivables shall have the meaning specified in the Transfer Agreement.

Discount Option Receivables means, with respect to any Series, Principal Receivables designated by the Transferor that are transferred to the Trustee at a specified discount, which discount is applied such that the discounted portion of Collections of such Principal Receivables are treated as Collections of Finance Charge Receivables, as specified with respect to such Series in the related Supplement.

Examples of Discount Option Receivables in a sentence

The aggregate amount of Discount Option Receivables outstanding on any Date of Processing occurring on or after the initial Discount Option Date shall equal (a) the aggregate Discount Option Receivables at the end of the prior Date of Processing, plus (b) any new Discount Option Receivables created on such Date of Processing, minus (c) any Discount Option Receivables Collections received on such Date of Processing.
Discount Option Receivables created on any Date of Processing shall mean the product of the amount of any Receivables created on such Date of Processing and the applicable Discount Option Percentage.
Transferor may from time to time increase (subject to the limitations described below), reduce or eliminate the Discount Percentage for Discount Option Receivables arising in the Accounts on and after the date of such change.
The Transferor may from time to time increase (subject to the limitations described below), reduce or eliminate the Discount Percentage for Discount Option Receivables arising in the Accounts on and after the date of such change.
Notwithstanding the above, if the Rating Agency Condition is satisfied with respect thereto, the Transferor may, in lieu of transferring Interchange as set forth above, designate Discount Option Receivables pursuant to Section 2.12 of the Agreement in an amount approximately equal to the then current Interchange with respect to the Accounts.

More Definitions of Discount Option Receivables

Discount Option Receivables means, on any date on and after the date on which the Transferor's exercise of its discount option pursuant to Section 2.8 takes effect, the sum of (a) the aggregate Discount Option Receivables at the end of the prior day (which amount, prior to the date on which the Transferor's exercise of its discount option takes effect and with respect to Receivables generated prior to such date, shall be zero) plus (b) any New Discount Option Receivables created on such day minus (c) any Discount Option Receivables Collections received on such Date of Processing.

Discount Option Receivables has the meaning specified in subsection 2.16(a).

Discount Option Receivables shall have the meaning specified in Section 2.11.

Discount Option Receivables is defined in Section 2.8.

Discount Option Receivables means, on any Date of Processing, the sum of (a) the aggregate Discount Option Receivables at the end of the prior Date of Processing (which amount, at the end of the Date of Processing prior to the Initial Cut-Off Date shall be $1,610,469,630) plus (b) any new Discount Option Receivables created on such Date of Processing minus (c) any Discount Collections received on such Date of Processing. Discount Option Receivables created on any Date of Processing shall mean the product of the amount of any Principal Receivables created on such Date of Processing (without giving effect to Discount Option Receivables) and the Discount Percentage.

Discount Option Receivables means, on any Date of Processing on and after the date on which the Transferor's exercise of its discount option pursuant to Section 2.08 of the Pooling and Servicing Agreement (prior to the Certificate Trust Termination Date) or Section 2.08 of the Transfer and Servicing Agreement (after the Certificate Trust Termination Date) takes effect, the sum of (a) the aggregate Discount Option Receivables at the end of the prior Date of Processing (which amount, prior to the date on which the Transferor's exercise of its discount option takes effect, shall be zero) plus (b) any new Discount Option Receivables created on such Date of Processing minus (c) any Discount Option Receivables Collections received on such Date of Processing. Discount Option Receivables created on any Date of Processing shall mean the product of the amount of any Principal Receivables created on such Date of Processing (without giving effect to Discount Option Receivables) and the then applicable Discount Percentage.

Discount Option Receivables means, on any Date of Processing on and after the date on which the Transferor’s exercise of its discount option pursuant to Section 2.08 of the Transfer and Servicing Agreement takes effect, the sum of (a) the aggregate Discount Option Receivables at the end of the prior Date of Processing (which amount, prior to the date on which the Transferor’s exercise of its discount option takes effect, shall be zero) plus (b) any new Discount Option Receivables created on such Date of Processing minus (c) any Discount Option Receivables Collections received on such Date of Processing. Discount Option Receivables created on any Date of Processing shall mean the product of the amount of any Principal Receivables created on such Date of Processing (without giving effect to Discount Option Receivables) and the then applicable Discount Percentage.