Minimum Dilution Reserve definition

Minimum Dilution Reserve means, on any day, an amount equal to (a) the Aggregate Capital plus the LC Participation Amount on such date multiplied by (b) (i) the Minimum Dilution Reserve Percentage, divided by (ii) 100% minus the Minimum Dilution Reserve Percentage on such day.

Minimum Dilution Reserve means, on any day, an amount equal to (a) the Aggregate Capital plus the Adjusted LC Participation Amount at the close of business of the Servicer on such date multipliedby (b) (i) the Minimum Dilution Reserve Percentage dividedby (ii) 100% minus the Minimum Dilution Reserve Percentage on such day.

More Definitions of Minimum Dilution Reserve

Minimum Dilution Reserve means, on any day, the amount equal to (a) Net Receivables Pool Balance at such time, multiplied by (b) the Minimum Dilution Reserve Percentage.

Minimum Dilution Reserve means, as of any date of determination, the product of (a) the Aggregate Capital, and (b)(i) the Minimum Dilution Reserve Percentage, divided by (ii) 100% minus the Minimum Dilution Reserve Percentage.

Minimum Dilution Reserve means at any time the amount equal to the product of (i) sum of (x) the aggregate Capital at such time, plus (y) the LC Aggregate Stated Amount at such time, multiplied by (ii) the Minimum Dilution Reserve Percentage, divided by (iii) 1 minus the Minimum Dilution Reserve Percentage at such time.

Minimum Dilution Reserve means, at any time, the product (expressed as a percentage) of (a) the Expected Dilution Ratio and (ii) the Dilution HorizonRatio.

Minimum Dilution Reserve means at any time, the product of (a) the Aggregate Capital plus the Adjusted LC Participation Amount at the close of business of the Servicer on such date multiplied by (b)(i) the Minimum Dilution Reserve Percentage divided by (ii) 1 minus the Minimum Dilution Reserve Percentage. “Minimum Dilution Reserve Percentage” means, at any time, the product of (a) the 12-month rolling average of the Dilution Ratio at such time multiplied by (b) the Dilution Horizon. “Monthly Report” means each report, in substantially the form of Annex A-1 to this Agreement, furnished by or on behalf of the Servicer to the Administrator and each Purchaser Agent pursuant to this Agreement. “Monthly Settlement Date” means the 25th day of each calendar month (or if such day is not a Business Day, the next occurring Business Day). “Moody’s” means Xxxxx’x Investors Service, Inc. “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. “Notes” means short-term promissory notes issued, or to be issued, by any Conduit Purchaser to fund its investments in accounts receivable or other financial assets. “Obligor” means, with respect to any Receivable, the Person obligated to make payments pursuant to the Contract relating to such Receivable. “Omnibus Amendment No. 1” has the meaning set forth in the Preliminary Statements.

Minimum Dilution Reserve. “Minimum Dilution Reserve Percentage,” “Total Reserves,” “Weighted Average Credit Term Factor” and “Weighted Average Credit Terms,” and (y) any components of the calculations and terms described in clause (x), in each case, for all purposes of this Agreement and the other Transaction Documents. After the delivery of such a notice to the Administrator, no Navistar Receivable may become an Eligible Receivable or be included in any of the foregoing calculations without the Administrator’s and each Purchaser Agent’s prior written consent (which consents may be granted or withheld in their sole discretion).

Minimum Dilution Reserve set forth in Exhibit I to the Agreement is amended by deleting the term “LC Participation Amount” and substituting “Adjusted LC Participation Amount” therefor.