Manufacturer Overconcentration means, for a Determination Date, the sum of:
Manufacturer Overconcentration means, for any Determination Date, either:
Manufacturer Overconcentration on any Determination Date shall mean, ------------------------------ with respect to all Accounts covered by a Floorplan Agreement with the same Manufacturer as obligor, the excess of (a) the aggregate of all amounts of Principal Receivables in such Accounts on the last day of the Collection Period immediately preceding such Determination Date that are covered by a Floorplan Agreement with such Manufacturer over (b) 15% of the Pool Balance on the last day of such immediately preceding Collection Period or, if the Rating Agency Condition is satisfied, such larger percentage of such Pool Balance as is stated in the notice from each Rating Agency in connection with the satisfaction of such Rating Agency Condition.
Examples of Manufacturer Overconcentration in a sentence
Trust Total Ineligible Receivables $ Dealer Overconcentration $ Manufacturer Overconcentration (>6% of pool balance) (a) $ Manufacturer Overconcentration (2% to 6% of pool balance) (b) $ Used Vehicle Overconcentration (c) $ Medium and Heavy Truck Overconcentration $ Development Dealer Overconcentration $ Fleet Overconcentration $ Non-Conforming Receivable Amount $ Memo Principal Receivables relating to Vehicles on Used Lines.
Memo a\ Non-Conforming Receivables Amount for Series with a 6% Manufacturer Overconcentration Threshold (Series 2009-2, 2010-1, 2010-2, 2010-3) b\ Non-Conforming Receivables Amount for Series with a 2% Manufacturer Overconcentration Threshold (Series 2006-1, 2006-6, 2010-4, 2010-5 and 2011-1) c\ Includes receivables related to vehicles on Used Lines and Program Lines d\ Primarily off-lease vehicles purchased by a dealer at a Ford Credit approved auction.
Overconcentration Amounts: Designated Manufacturer Overconcentration: N/A Industry Overconcentrations: N/A Obligor Overconcentrations: N/A Manufacturer Overconcentrations: N/A Total Overconcentration Amounts N/A 34.
More Definitions of Manufacturer Overconcentration
Manufacturer Overconcentration on any Distribution Date shall mean, the excess of (a) the aggregate of all amounts of Principal Receivables in Accounts created pursuant to Floorplan Agreements with a single Manufacturer on the last day of the Monthly Period immediately preceding such Distribution Date that are covered by a Floorplan Agreement with such Manufacturer over (b) 15% of the total Principal Receivables on the last day of such immediately preceding Monthly Period. Certain Manufacturers may be subject to a higher percentage limit acceptable to each Rating Agency without any reduction or withdrawal of its rating of Certificates rated by such Rating Agency, but in no case higher than 20%. Notwithstanding the above, the percentage in clause (b) for such Overconcentration may be increased by the Transferor, without the consent of any Certificateholder, to a level acceptable to each Rating Agency without any reduction or withdrawal of its rating of Certificates rated by such Rating Agency (but which may involve an adjustment, upward or downward, of certain Invested Amounts).
Manufacturer Overconcentration means, with respect to any Manufacturer other than Toyota, on any Determination Date, the excess, if any, of (x) the aggregate Manufacturer Amount over (y) the product of (i) the Manufacturer Limit and (ii) the Pool Balance on the last day of the preceding Collection Period.
Manufacturer Overconcentration on any Determination Date shall mean, with respect to all Accounts covered by a Floorplan Agreement with the same Manufacturer as obligor, the excess of (a) the aggregate of all amounts of Principal Receivables in such Accounts on the last day of the Collection Period immediately preceding such Determination Date that are covered by such Floorplan Agreement over (b) 15% of the Pool Balance on the last day of such immediately preceding Collection Period (in the case of each of the Manufacturers that is among the three Manufacturers which are parties to Floorplan Agreements covering the largest aggregate amounts of Principal Receivables) or 10% of the Pool Balance on the last day of such immediately preceding Collection Period (in the case of Manufacturers other than such top three Manufacturers (or, in each case, if the Rating Agency Condition is satisfied, such larger percentage of such Pool Balance as is stated in the notice from each applicable Rating Agency in connection with the satisfaction of such Rating Agency Condition).
Manufacturer Overconcentration on any Distribution Date shall mean, the ------------------------------ excess of (a) the aggregate of all amounts of Principal Receivables in Accounts created pursuant to Floorplan Agreements with a single Manufacturer on the last day of the Monthly Period immediately preceding such Distribution Date that are covered by a Floorplan Agreement with such Manufacturer over (b) 15% of the total Principal Receivables on the last day of such immediately preceding Monthly Period. Notwithstanding the above, the percentage in clause (b) for such Overconcentration may be increased by the Transferor, without the consent of any Certificateholder, to a level acceptable to each Rating Agency without any reduction or withdrawal of its rating of Certificates rated by such Rating Agency, (but which may involve an adjustment, upward or downward, of certain Invested Amounts).
Manufacturer Overconcentration means, on any Determination Date, with respect to all Accounts (as defined either herein or in the Pooling and Servicing Agreement) covered by a Floorplan Agreement with the same Manufacturer as obligor, the excess, if any, of (a) the Combined Outstanding Principal Balances in such Accounts (as defined either herein or in the Pooling and Servicing Agreement, as applicable) covered by such a Floorplan Agreement with such Manufacturer, on the last day of the Monthly Period immediately preceding such Determination Date, over (b) the Manufacturer Concentration Limit for such Manufacturer.
Manufacturer Overconcentration on any Determination Date shall mean, with respect to all Accounts covered by a Floorplan Agreement with the same Manufacturer as obligor, the excess of (a) the aggregate of all amounts of Principal Receivables in such Accounts on the last day of the Collection Period immediately preceding such Determination Date that are covered by such Floorplan Agreement over (b) 15% of the Pool Balance on the last day of such immediately preceding Collection Period or, if the Rating Agency Condition is satisfied, such larger percentage of such Pool Balance as is stated in the notice from each applicable Rating Agency in connection with the satisfaction of such Rating Agency Condition.
Manufacturer Overconcentration means, on any Determination Date, with respect to all accounts covered by a Floorplan Financing Agreement with the same Manufacturer as obligor, the excess, if any, of (a) the aggregate outstanding balance of Principal Receivables used in calculating the Unadjusted Net Pool Balance as of the last day of the Collection Period preceding such date in accounts covered by a Floorplan Financing Agreement with the same Manufacturer, over (b) the Manufacturer Concentration Limit for such Manufacturer, less the aggregate amount of duplicative amounts which are included in the Dealer Overconcentration and the Product Line Overconcentration.