Ford Credit Receivables definition

Ford Credit Receivables means the Receivables listed in Schedule A to the Sale and Servicing Agreement as the Ford Credit Receivables, which Receivables were sold by Ford Credit to the Depositor.
Ford Credit Receivables means the Receivables listed in Schedule A to the Sale and Servicing Agreement as the Ford Credit Receivables, which Receivables were sold by Ford Credit to Trust I under the Ford Credit Purchase Agreement and by Trust I to the Depositor under the Trust I Receivables Purchase Agreement.

Examples of Ford Credit Receivables in a sentence

  • The Ford Credit Receivables satisfy the representations and warranties set forth in Schedule D hereto.

  • Notwithstanding anything herein to the contrary, the Servicer and Ford Credit, as a Receivables Servicer, shall not be required to make any collection, repossession or liquidation efforts with respect to the Ford Credit Receivables after January 28, 2012.

  • The Issuer and the Servicer shall permit Ford Credit to repurchase Ford Credit Receivables that are Liquidated Receivables under the Ford Credit Servicing Agreement Sale and Servicing Agreement on the date such Ford Credit Receivables became Liquidated Receivables in return for a deferred repurchase amount equal to Liquidation Proceeds for such Ford Credit Receivables.

  • Notwithstanding anything herein to the contrary, the Servicer shall not make any collection, repossession of liquidation efforts in respect of (i) any Ford Credit Receivables after September 30, 2009 and (ii) any Volvo Finance Receivables after March 31, 2009.

  • Without limiting the generality of the preceding paragraph, the Servicer has engaged Ford Credit under the Ford Credit Receivables Servicing Agreement, GMAC under the GMAC Receivables Servicing Agreements, DCS under the DCS Receivables Servicing Agreement and the Data Administrator under the Data Administration Agreement.

  • The Issuer and the Servicer shall permit Ford Credit to repurchase Liquidated Receivables (as defined in the Ford Credit Receivables Servicing Agreement) under Section 3.8 of the Ford Credit Receivables Servicing Agreement in return for the Deferred Repurchase Amount (as defined in the Ford Credit Servicing Agreement).

  • Without limiting the generality of the preceding paragraph, the Servicer has engaged Ford Credit under the Ford Credit Receivables Servicing Agreements, GMAC under the GMAC Receivables Servicing Agreement, DCS under the DCS Receivables Servicing Agreements and the Data Administrator under the Data Administration Agreement.

  • Notwithstanding anything herein to the contrary, the Servicer and Ford Credit, as a Receivables Servicer, shall not be required to make any collection, repossession or liquidation efforts with respect to the Ford Credit Receivables after March 10, 2010.

  • The Issuer and the Servicer shall permit Ford Credit to repurchase Liquidated Receivables (as defined in each Ford Credit Receivables Servicing Agreement) under Section 3.8 of each Ford Credit Receivables Servicing Agreement in return for the Deferred Repurchase Amount (as defined in each Ford Credit Servicing Agreement).

  • The Issuer and the Servicer shall permit Ford Credit to repurchase Ford Credit Receivables that are Liquidated Receivables under the Ford Credit Servicing Agreement on the date such Ford Credit Receivables became Liquidated Receivables in return for a deferred repurchase amount equal to Liquidation Proceeds for such Ford Credit Receivables.

Related to Ford Credit Receivables

  • Receivables means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

  • Ford Credit means Ford Motor Credit Company LLC, a Delaware limited liability company.

  • Eligible Receivables means and include with respect to each Borrower, each Receivable of such Borrower arising in the Ordinary Course of Business and which Agent, in its sole credit judgment, shall deem to be an Eligible Receivable, based on such considerations as Agent may from time to time deem appropriate. A Receivable shall not be deemed eligible unless such Receivable is subject to Agent’s first priority perfected security interest and no other Lien (other than Permitted Encumbrances), and is evidenced by an invoice or other documentary evidence satisfactory to Agent. In addition, no Receivable shall be an Eligible Receivable if:

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Credit Card Receivables means each “payment intangible” (as defined in the UCC) together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business.

  • Net Receivables Pool Balance means, at any time: (a) the Outstanding Balance of Eligible Receivables then in the Receivables Pool minus (b) the Excess Concentration.

  • Subsequent Receivables means the Receivables transferred to the Issuer pursuant to Section 2.2, which shall be listed on Schedule A to the related Subsequent Transfer Agreement.

  • Purchased Receivables means all those accounts, receivables, chattel paper, instruments, contract rights, documents, general intangibles, letters of credit, drafts, bankers acceptances, and rights to payment, and all proceeds thereof (all of the foregoing being referred to as "receivables"), arising out of the invoices and other agreements identified on or delivered with any Invoice Transmittal delivered by Seller to Buyer which Buyer elects to purchase and for which Buyer makes an Advance.

  • Eligible Account Receivable means an Account Receivable owing to the Company or any Domestic Subsidiary which meets the following requirements:

  • Receivables Pool means, at any time of determination, all of the then outstanding Receivables transferred (or purported to be transferred) to the Borrower pursuant to the Purchase and Sale Agreement prior to the Termination Date.

  • Review Receivables means those certain Receivables identified by the Servicer to the Asset Representations Reviewer following receipt of a Review Notice as not having been paid in full by the Obligor or purchased from the Issuer in accordance with the terms of the Basic Documents at or prior to the date of such Review Notice.

  • Subject Receivables has the meaning assigned to such term in the Asset Representations Review Agreement.

  • Mortgage loan originator means any institution which originated a Mortgage Loan for a related Borrower.

  • Receivables Sale Agreement means that certain Third Amended and Restated Receivables Sale Agreement, dated as of May 18, 2011, between the Originator and the Seller (as amended, restated, supplemented or otherwise modified and in effect from time to time).

  • 60-Day Delinquent Receivables means, as of any date of determination, all Receivables (other than Repurchased Receivables and Defaulted Receivables) that are sixty (60) or more days delinquent as of such date (or, if such date is not the last day of a Collection Period, as of the last day of the Collection Period immediately preceding such date), as determined in accordance with the Servicer’s Customary Servicing Practices.

  • Receivables Purchase Facility means any securitization facility made available to the Borrower or any of its Subsidiaries, pursuant to which receivables of the Borrower or any of its Subsidiaries are transferred to one or more SPCs, and thereafter to certain investors, pursuant to the terms and conditions of the Receivables Purchase Documents.

  • Receivables Seller means the Borrower or those Subsidiaries that are from time to time party to the Permitted Receivables Facility Documents (other than any Receivables Entity).

  • Receivables Documents means all documentation relating to any receivables financing program providing for the sale of some or all Receivables Facility Assets by Company and its Subsidiaries (whether or not to a Receivables Subsidiary) in transactions purporting to be sales and shall include the documents evidencing any Permitted Accounts Receivable Securitization and any Receivables Factoring Facility.

  • Loan originator The entity that closes a Mortgage Loan in its own name.

  • Net Receivables Balance means, at any time, the aggregate Outstanding Balance of all Eligible Receivables at such time reduced by the aggregate amount by which the Outstanding Balance of all Eligible Receivables of each Obligor and its Affiliates exceeds the Concentration Limit for such Obligor.

  • Originator means the sender of the first payment order in a funds transfer.

  • Eligible Accounts Receivable means Accounts, Instruments, Documents, Chattel Paper, Contracts, and General Intangibles from customers of Borrowers or any Approved Subsidiary in which Bank has a perfected first priority security interest subject to Bank's credit approvals thereof other than the following: (i) Accounts which remain unpaid ninety (90) days after the date of the applicable invoice; (ii) Accounts with respect to which the Account Debtor is an Affiliate of any of the Borrowers, or a director, officer or employee of any of the Borrowers; (iii) Accounts with respect to which the Account Debtor is the United States of America or any department, agency or instrumentality thereof, unless filings in accordance with the Assignment of Claims Act have been completed and filed in a manner satisfactory to the Agent or, as to any government contract entered into after the date of this Agreement, concurrently with the execution and delivery of that government contract; (iv) Accounts with respect to which the Account Debtor is not a resident of the United States or Canada except if such Accounts (1) are secured by irrevocable trade letter(s) of credit in form and content acceptable to Bank and confirmed by a United States financial institution acceptable to Bank, (2) are secured by standby letters of credit with an expiration of date of at least one hundred twenty (120) days from the date of shipment confirmed by United States Bank acceptable to Bank and otherwise in form and content acceptable to Bank, or (3) are insured by a company acceptable to Bank, which insurance covers business and political risk; (v) Accounts arising with respect to goods which have not been shipped and delivered to and accepted as satisfactory by the Account Debtor or arising with respect to services which have not been fully performed and accepted as satisfactory by the Account Debtor; (vi) Accounts for which the prospect of payment in full or performance in a timely manner by the Account Debtor is or is likely to become impaired as determined by the Bank in its reasonable discretion; (vii) Accounts which are not invoiced (and dated as of the date of such invoice) and sent to the Account Debtor within fifteen (15) days after delivery of the underlying goods to, or performance of the underlying services for, the Account Debtor; (viii) Accounts with respect to which Bank does not have a first and valid fully perfected security interest; (ix) Accounts with respect to which the Account Debtor is the subject of bankruptcy or a similar insolvency proceeding or has made an assignment for the benefit of creditors or whose assets have been conveyed to a receiver or trustee, except if Bank is delivered evidence acceptable to Bank as to the collectability in the normal course of business of such Accounts; (x) Accounts with respect to which the Account Debtor's obligation to pay the Account is conditional upon the Account Debtor's approval or is otherwise subject to any repurchase obligation or return right, as with sales made on a xxxx-and-hold, guaranteed sale, sale-and-return, sale on approval (except with respect to Accounts in connection with which Account Debtors are entitled to return Inventory solely on the basis on the quality of such Inventory) or consignment basis; (xi) Accounts with respect to which the Account Debtor is located in Minnesota unless the applicable Borrower has filed a Notice of Business Activities Report with the Secretary of State of Minnesota for the then current year; (xiv) all Accounts of any Account Debtor if twenty-five percent (25.0%) or more of all Accounts of such Account Debtor have ceased to be Eligible Accounts Receivable; and (xii) Accounts with respect to which the Account Debtors are residents of Canada to the extent the aggregate sum exceeds $750,000.00. The approvals of Account Debtors and Accounts shall be for Bank purposes only and shall not constitute any representation by Bank as to the credit worthiness of any such Account Debtor or the advisability or profitability of doing business with such Account Debtor.

  • Mortgage Loan Sale Agreement The mortgage loan sale and assignment agreement dated as of November 1, 2003, for the sale of the Mortgage Loans by the Seller to the Depositor.

  • Net Purchased Loan Balance means, as of any date of determination, an amount equal to (a) the aggregate principal balance of all Portfolio Investments acquired by the Company prior to such date minus (b) the aggregate principal balance of all Portfolio Investments repurchased by the Parent or an Affiliate thereof prior to such date.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.