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 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.
Examples of Manufacturer Overconcentration in a sentence
For so long as a Manufacturer Overconcentration exists, the Manufacturer Overconcentration Percentage of (i) all Principal Collections relating to each Overconcentrated Manufacturer, (ii) all Non-Principal Collections relating to each Overconcentrated Manufacturer and (iii) the portion of the Default Amount relating to each Overconcentrated Manufacturer with respect to each Monthly Period shall each be allocated to the Transferor on each Determination Date.
For so long as a Manufacturer Overconcentration exists, the Manufacturer Overconcentration Percentage of (i) all Principal Collections relating to each Overconcentrated Manufacturer, (ii) all Non-Principal Collections relating to each Overconcentrated Manufacturer and (iii) the portion of the Defaulted Amount relating to each Overconcentrated Manufacturer with respect to each Collection Period shall each be allocated to the Residual Interestholder on each Determination Date.
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.
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 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 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 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 means, on any Determination Date, with respect to all Accounts covered by a Floorplan Agreement with the same Manufacturer, the excess, if any, of (a) the Combined Outstanding Principal Balances in such Accounts 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; provided that such calculation shall be made in accordance with Section 8.4 after taking into account any Product Line Overconcentrations and any Dealer Overconcentrations.”
Manufacturer Overconcentration means, on any Determination Date, any excess of (a) the average amount of the aggregate Principal Receivables that relate to a particular Manufacturer other than Ford for the related Collection Period over (b) [30]% of the Pool Balance on the first day of such Collection Period (or a higher percentage as may be approved in writing by each Rating Agency and subject to the conditions and limitations that it may require).