Modified Receivable means a Receivable as to which the payment terms of the related Contract have been extended or modified for credit reasons since the origination of such Receivable.
Modified Receivable shall have the meaning assigned thereto in Section 3.2(a).
Modified Receivable shall have the meaning assigned thereto in Section 3.2(a) of the Sale and Servicing Agreement.
Examples of Modified Receivable in a sentence
The definition of “ Overconcentration Amount” is hereby amended to delete therefrom the phrase “the amount by which the aggregate Modified Receivable Balances owing by all Foreign Obligors exceeds 5% of the Aggregate Receivable Balance” and to substitute therefor the phrase “the amount by which the aggregate Modified Receivable Balances owing by all Foreign Obligors exceeds 7.5% of the Aggregate Receivable Balance”.
More Definitions of Modified Receivable
Modified Receivable means a Receivable that has been Modified.
Modified Receivable means indebtedness owed to the Debtor by an Obligor (without giving effect to any transfer under this Agreement) under a Contract which has been modified and is classified as a type 44, 45, 74 or 75 receivable in the Debtor's records, whether constituting an account, chattel paper, instrument or general intangible, arising out of or in connection with the sale of new or used automobiles, vans or light-duty trucks or the rendering of services by the originating dealer in connection therewith, and includes the right of payment of any finance charges and other obligations of the Obligor with respect thereto.
Modified Receivable means a Notable Receivable which, at any time, (i) was past due or in default and which such delinquency or default was cured by waiving, extending, adjusting or amending the contract terms or accepting a reduced payment or (ii) has had its contract terms waived, extended, adjusted or amended with the intent of avoiding a delinquency or default. For the avoidance of doubt, (a) a Facility Receivable that has received (x) a single Approved Extension or, (y) a single Approved Payment Plan Adjustment or (z) a single Approved Extension and a single Approved Payment Plan Adjustment (in that order) and the duration of the aggregate extensions shall not extend such Facility Receivable by more than one hundred eighty (180) days, in each case, shall not constitute a “Modified Receivable” and (b) a Facility Receivable that has received (x) more than one Approved Extension, (y) more than one Approved Payment Plan Adjustment or (z) both an Approved Extension and an Approved Payment Plan Adjustment and the duration of the aggregate extensions exceed one hundred and eighty (180) days, in each case, shall constitute a “Modified Receivable.”
Modified Receivable means a Receivable as to which the payment terms of the related Contract have been extended or modified for credit reasons since the origination of such Receivable. For the avoidance of doubt, Modified Receivable shall not include a Receivable as to which the payment terms of the related Contract have been extended or modified (i) as required under Applicable Law or (ii) in connection with the COVID-19 Emergency, in either case, so long as such modification is made in accordance with Section 8.2(d). “Monthly Report” means a report, in substantially the form of Exhibit X hereto (appropriately completed), furnished by Servicer to Agent and each Purchaser Agent pursuant to Section 8.5. “Monthly Settlement Date” means the 23rd day of each calendar month (or if such day is not a Business Day, the next occurring Business Day); provided, however, that the initial Monthly Settlement Date shall be May 26, 2020. “Moody’s” means Xxxxx’x Investors Service, Inc. “MUFG” has the meaning set forth in the preamble to this Agreement. “MUFG Roles” has the meaning set forth in Section 14.13(a). “Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which any CNE Party or any of their respective ERISA Affiliates is making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or accrued an obligation to make contributions. “Net Receivable Pool Balance” means, at any time, an amount equal to (i) the aggregate Outstanding Balance of all Eligible Receivables at such time, minus (ii) the Excess Concentration at such time. “Non-Renewing Financial Institution” has the meaning set forth in Section 4.4(a). “Nonrecourse Indebtedness” means any Indebtedness that finances the acquisition, development, ownership or operation of an asset or portfolio of assets in respect of which the Person to which such Indebtedness is owed has no recourse whatsoever to any CNE Party or any of its respective Subsidiaries other than: (i) recourse to the named obligor with respect to such Indebtedness (the “Debtor”) for amounts limited to the cash flow or net cash flow (other than historic cash flow) from the asset; (ii) recourse to the Debtor for the purpose only of enabling amounts to be claimed in respect of such Indebtedness in an enforcement of any security interest or lien given by the Debtor over the asset or the income, cash flow or other proceeds deriving from the asset (or given by any shareholder or the l...
Modified Receivable means a Receivable with respect to which Borrower has amended the terms thereof in any way, including an extension of the original term thereof or a modification of the dates of the scheduled payments thereunder.
Modified Receivable means a Receivable as to which the payment terms of the related Contract have been extended or modified for credit reasons since the origination of such Receivable. “Monthly Report” means a report, in substantially the form of Exhibit X hereto (appropriately completed), furnished by Servicer to Agent and each Purchaser Agent pursuant to Section 8.5. Exh. I- 17 729983207 10446458