Net Collection definition
Examples of Net Collection in a sentence
Any increase in the applicable Incentive Fee Percentage, as provided in this section, shall be effective as of the date on which the Net Collection Target Ratio fell within the requisite range entitling the Servicer to an increased Incentive Fee, and shall apply only to those Collections falling within such requisite range.
The resolution of disputes by the Independent Accounting Firm and its determination of the Actual Net Collection Amount will be set forth in writing and will be conclusive and binding upon the Parties.
In the event of a purchase or merger of US Servis by or with a third party, UPA may, upon thirty (30) days prior written notice to US Servis (prior to the purchase or merger) or its successor (after the purchase or merger), terminate this Agreement upon demonstrating that it has suffered a decrease in the Net Collection Rate or Net Collections or otherwise has suffered actual damages resulting from such purchase or merger.
In the event this Agreement is Terminated, on the Termination Date, all amounts set forth in Sections 6.2(a)-(c), 6.2(f) and 6.2(h), plus any amounts payable to ▇▇▇▇▇▇ from the Net Collection Amount shall become immediately due and payable.
By: By: Name: Name: Title: Title: Date: Date: 1 Include square bracket language if one party is a Net Collection Party and Net Delivery/Return Amounts (VM) are subject to a Net Minimum Transfer Amount.
If not sooner paid to [***] from the Designated Account, and prior to any payment of the Net Collection Amount, the Advances shall be due and payable, together with the Advance Fee, on the Termination Date.
If not sooner paid to ▇▇▇▇▇▇ from the Designated Account, and prior to any payment of the Net Collection Amount, the Advances shall be due and payable, together with the Advance Fee, on the Termination Date.
For example, if Seller claims the Actual Net Collection Amount is $1,000 greater than the amount determined by TransWestern and its accountants, and TransWestern contests only $500 of the amount claimed by Seller, and if the Independent Accounting Firm ultimately resolves the dispute by awarding Seller $300 of the $500 contested, then the costs and expenses of arbitration will be allocated 60% (i.e., 300 / 500) to TransWestern and 40% (i.e., 200 / 500) to Seller.
For example, if Sellers claims the Actual Net Collection Amount is $1,000 greater than the amount determined by TransWestern and its accountants, and TransWestern contests only $500 of the amount claimed by Sellers, and if the Independent Accounting Firm ultimately resolves the dispute by awarding Sellers $300 of the $500 contested, then the costs and expenses of arbitration will be allocated 60% (i.e., 300 divided by 500) to TransWestern and 40% (i.e., 200 divided by 500) to Sellers.
On each Distribution Date, the Servicer shall make the following deposits and distributions to the extent of the Net Collections for such Distribution Date, in the following amounts and order of priority: (i) to the Servicer, the Servicing Fee, including any unpaid Servicing Fees with respect to one or more prior Due Periods; and (ii) to WFSRC2, the balance of the Net Collection after giving effect to the reduction in Net Collections described in the preceding clause (i).