Noncomplying Receivables Adjustment definition

Noncomplying Receivables Adjustment means, with respect to any Collection Period, an amount equal to the aggregate of, with respect to each Receivable which the Collection Agent or the Company (or its assigns) has identified to the Authorized Representative as a Noncomplying Receivable during such Collection Period, either (i) as of any date prior to the Termination Date that no Termination or Event of Termination is outstanding, the Noncomplying Receivable Portion of each such Receivable, and (ii) in all other circumstances, the Outstanding Balance of each such Receivable.
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Noncomplying Receivables Adjustment means, with respect to any Collection Period, an amount equal to (i) the aggregate Outstanding Balance for all Receivables which the Buyer identified to the applicable Originator as Noncomplying Receivables during such Collection Period minus (ii) all Collections received during such Collection Period on account of Receivables originated by such Originator with respect to which Noncomplying Receivables Adjustments were previously paid. 8
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Noncomplying Receivables Adjustment means:
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Examples of Noncomplying Receivables Adjustment in a sentence

  • Alternatively, if the Noncomplying Receivables Adjustment is a negative number, such number shall be shown on the Asset Report as an amount due to such Originator, and the Buyer shall pay to such Originator the amount, if any, shown on the Asset Report as the net amount due from Buyer to such Originator.

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  • Any remaining unutilized positive amount of the Noncomplying Receivables Adjustment shall be credited by the Buyer against all future Purchases from the applicable Originator; provided, however, that if such credits are not fully utilized within five (5) Business Days, such Originator shall pay the remaining amount of such adjustment in cash on the next succeeding Business Day.

  • On or prior to each Asset Report Date, the Servicer shall prepare and deliver to the Buyer, as part of the Asset Report delivered under the Receivables Purchase Agreement, a statement of the Noncomplying Receivables Adjustment due to the Buyer from any Originator or from the Buyer to any Originator, as the case may be.

  • On or prior to each Asset Report Date, the Collection Agent shall prepare and deliver to the Buyer, as part of the Asset Report delivered under the Receivables Purchase Agreement, a statement of the Noncomplying Receivables Adjustment due to the Buyer from the Originator or from the Buyer to the Originator, as the case may be.

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  • On or prior to each Asset Report Date, the Servicer shall prepare and deliver to the Buyer pursuant to 6.06(b), a statement of the Noncomplying Receivables Adjustment due to the Buyer from any Originator or from the Buyer to any Originator, as the case may be.

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  • Alternatively, if the Noncomplying Receivables Adjustment is a negative number, such number shall be shown on the Asset Report as an amount due to the Originator, and the Buyer shall pay to the Originator the amount, if any, shown on the Asset Report as the net amount due from Buyer to the Originator.

  • The design of the GEQIP is based on a holistic, integrated set of interventions (referred to as “the Package” by the Government).


More Definitions of Noncomplying Receivables Adjustment

Noncomplying Receivables Adjustment means, with respect to any calendar month, an amount equal to (i) the aggregate Outstanding Balance for all Receivables which the Buyer identified to the Originator as Noncomplying Receivables during such calendar month minus (ii) all Collections received during such calendar month on account of Receivables originated by the Originator with respect to which Noncomplying Receivables Adjustments were previously paid.
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Noncomplying Receivables Adjustment means, as of any Settlement Date, and with respect to any Seller's Receivables, as the case may be, an amount equal to (i) the aggregate Unpaid Balances on the most recent Cut-Off Date of all such Seller's Receivables which were first reported to be Noncomplying Receivables during such Collection Period MINUS (ii) the aggregate amount of Collections received by the Issuer during such Calculation Period with respect to any such Seller's Receivables which were reported to be Noncomplying Receivables in any prior Settlement Statement MINUS (iii) the "Allocated Loss and Dilution Amount" (as such term is hereinafter defined). As used herein, the "ALLOCATED LOSS AND DILUTION AMOUNT" shall be determined as follows: XXXX = UB x (LD + DD) where: XXXX = the Allocated Loss and Dilution Amount. UB = the aggregate Unpaid Balances as of the most recent Cut-Off Date of the applicable Noncomplying Receivables reported during the Calculation Period ended as of such Cut-Off Date. LD = the Loss Discount applicable to such Receivables as of the most recent Cut-Off Date. DD = the Dilution Discount Ratio applicable to such Receivables as of the most recent Cut-Off Date.
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Related to Noncomplying Receivables Adjustment

  • Receivables Purchase Price means $1,652,997,849.97.

  • Transferred Receivable means a Purchased Receivable or a Contributed Receivable.

  • Receivables Pool means, at any time, all of the then outstanding Receivables purchased or otherwise acquired by the Seller pursuant to the Purchase and Sale Agreement prior to the Facility Termination Date.

  • Subsequent Receivables means the Receivables transferred to the Issuer pursuant to Section 2.2, which shall be listed on Schedule A to the related Subsequent Transfer Agreement.

  • 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.

  • Net Receivables Balance means, at any time, the aggregate Outstanding Balance of all Receivables that are Eligible Receivables at such time reduced by (i) the aggregate amount by which the Outstanding Balance of all Receivables that are Eligible Receivables of each Obligor and its Affiliates exceeds the Concentration Limit for such Obligor and (ii) the aggregate Contractual Dilution Reserves for all Eligible Receivables of all Obligors.

  • Receivables Assets means accounts receivable (including any bills of exchange) and related assets and property from time to time originated, acquired or otherwise owned by the Borrower or any Subsidiary.

  • Defaulted Receivables means any Receivable (a) on which any installment is unpaid more than sixty (60) days past its original due date or (b) where the Servicer’s records show that the Obligor has suffered an Insolvency Event.

  • Receivables Transaction Attributed Indebtedness means the amount of obligations outstanding under the legal documents entered into as part of any Qualified Receivables Transaction on any date of determination that would be characterized as principal if such Qualified Receivables Transaction were structured as a secured lending transaction rather than as a purchase.

  • Permitted Receivables Related Assets means any other assets that are customarily transferred, sold and/or pledged or in respect of which security interests are customarily granted in connection with asset securitization transactions involving receivables similar to Receivables and any collections or proceeds of any of the foregoing (including, without limitation, lock-boxes, deposit accounts, records in respect of Receivables and collections in respect of Receivables).

  • Delinquent Receivable means any Receivable that is not a Liquidated Receivable and which the related Obligor fails to make at least 90% of the related Scheduled Receivables Payment by the date on which it is due and remains unpaid for more than sixty (60) days from the original payment due date.

  • Receivables Related Assets means accounts receivable, instruments, chattel paper, obligations, general intangibles and other similar assets, in each case relating to receivables subject to the Permitted Receivables Facility, including interests in merchandise or goods, the sale or lease of which gave rise to such receivables, related contractual rights, guaranties, insurance proceeds, collections and proceeds of all of the foregoing.

  • Receivables Program means, with respect to any Person, an agreement or other arrangement or program providing for the advance of funds to such Person against the pledge, contribution, sale or other transfer of encumbrances of Receivables Program Assets of such Person or such Person and/or one or more of its Subsidiaries.

  • Principal Receivables means all Receivables other than Finance Charge Receivables.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Sold Receivable means a Receivable that was more than 60 days delinquent and was sold to an unaffiliated third party by the Issuer, at the Servicer’s direction, as of the close of business on the last day of a Collection Period and in accordance with the provisions of Section 4.3(c) hereof.

  • Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Sections 4.2, 4.4(c) or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a).

  • Liquidated Receivable means any Receivable liquidated by the Servicer through the sale or other disposition of the related Financed Equipment or that the Servicer has, after using all reasonable efforts to realize upon the Financed Equipment, determined to charge off without realizing upon the Financed Equipment.

  • Receivables Net Investment means the aggregate cash amount paid by the lenders or purchasers under any Permitted Receivables Financing in connection with their purchase of, or the making of loans secured by, Receivables Assets or interests therein, as the same may be reduced from time to time by collections with respect to such Receivables Assets or otherwise in accordance with the terms of the Permitted Receivables Documents (but excluding any such collections used to make payments of items included in clause (c) of the definition of Interest Expense); provided, however, that if all or any part of such Receivables Net Investment shall have been reduced by application of any distribution and thereafter such distribution is rescinded or must otherwise be returned for any reason, such Receivables Net Investment shall be increased by the amount of such distribution, all as though such distribution had not been made.

  • Review Receivables means those certain Receivables identified by the Servicer to the Asset Representations Reviewer following receipt of a Review Notice as not having been paid in full by the Obligor or purchased from the Issuer in accordance with the terms of the Basic Documents at or prior to the date of such Review Notice.

  • Principal Receivable means each Receivable other than Finance Charge -------------------- Receivables and Receivables in Defaulted Accounts. A Principal Receivable shall be deemed to have been created at the end of the day on the Date of Processing of such Receivable. In calculating the aggregate amount of Principal Receivables on any day, the amount of Principal Receivables shall be reduced by the aggregate amount of credit balances in the Accounts on such day. Any Principal Receivables which Seller is unable to transfer as provided in Section 2.5(c) of -------------- the Transfer and Servicing Agreement shall not be included in calculating the aggregate amount of Principal Receivables.

  • Receivables and Related Assets means any account receivable (whether now existing or arising thereafter) of the Company or any Restricted Subsidiary of the Company, and any assets related thereto including all collateral securing such accounts receivable, all contracts and contract rights and all Guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transaction involving accounts receivable.