Product Line Overconcentration definition

Product Line Overconcentration on any Distribution Date means the excess of (a) the aggregate of all amounts of Principal Receivables in the Accounts that represent financing for a single product line (other than Asset-Based Receivables and Receivables that represent financing for manufactured housing) on the last day of the Monthly Period immediately preceding such Distribution Date over (b) 5% for marine products, 25% for recreational vehicles, and 5% for any other products in total, of the total Principal Receivables on the last day of such immediately preceding Monthly Period. Notwithstanding the above, in the case of each such Overconcentration, the percentage in clause (b) for such Overconcentration may be increased or decreased 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 any Certificates rated by it (but which may involve an adjustment, upward or downward, of certain Invested Amounts).
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Product Line Overconcentration on any Determination Date shall mean, with respect to Accounts created pursuant to Wholesale Financing Agreements, the excess of (a) the aggregate of all amounts of Principal Receivables in such Accounts that represent financing for a single Product line (according to DFS's classification system) on the last day of the Collection Period immediately preceding such Determination Date over (b) (i) 25% of the Pool Balance on the last day of such immediately preceding Collection Period if such Product line is not computers and related equipment and (ii) 40% of such Pool Balance if such Product line is computers and related equipment or, in the case of clause (i) or (ii), if the Rating Agency Condition is satisfied, such larger percentage of such Pool Balance as is stated in the notice from each Rating Agency in connection with the satisfaction of such Rating Agency Condition.
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Product Line Overconcentration on any Distribution Date means, the excess ------------------------------ of
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Examples of Product Line Overconcentration in a sentence

  • For so long as a Product Line Overconcentration exists, the Product Line Overconcentration Percentage of (i) all Principal Collections relating to each Overconcentrated Product Line, (ii) all Non-Principal Collections relating to each Overconcentrated Product Line and (iii) the portion of the Default Amount relating to each Overconcentrated Product Line with respect to each Monthly Period shall each be allocated to the Transferor on each Determination Date.

  • For so long as a Product Line Overconcentration exists, the Product Line Overconcentration Percentage of (i) all Principal Collections relating to each Overconcentrated Product Line, (ii) all Non-Principal Collections relating to each Overconcentrated Product Line and (iii) the portion of the Defaulted Amount relating to each Overconcentrated Product Line with respect to each Collection Period shall each be allocated to the Residual Interestholder on each Determination Date.


More Definitions of Product Line Overconcentration

Product Line Overconcentration on any Determination Date shall mean, with respect to Accounts created pursuant to Wholesale Financing Agreements, the excess of (a) the aggregate of all amounts of Principal Receivables in such Accounts that represent financing for a single Product line (according to CDF's classification system) on the last day of the Collection Period immediately preceding such Determination Date over (b) (i) twenty-five percent (25%) of the Pool Balance on the last day of such immediately preceding Collection Period if such Product line is not recreational vehicles or boats or boat motors, (ii) thirty-five percent (35%) of that Pool Balance if that product line is recreational vehicles, or (iii) thirty-five percent (35%) of that Pool Balance if that product line is boats or boat motors or, in the case of clause (i), (ii) or (iii), if the Rating Agency Condition is satisfied, such larger percentage of such Pool Balance as is stated in the applicable notice from each applicable Rating Agency in connection with the satisfaction of such Rating Agency Condition.
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Product Line Overconcentration means, on any Determination Date, the excess, if any, of (a) the portion of the Combined Outstanding Principal Balances that represents financing for a single Product line (according to the classification system of GE Commercial Distribution Finance Corporation (with respect to Principal Receivables (as defined in the Pooling and Servicing Agreement) held by DFS Financing Trust) or GE Commercial Distribution Finance Corporation or another Originator (with respect to Principal Receivables held by the Issuer)) on the last day of the Monthly Period immediately preceding such Determination Date over (b) the Product Line Concentration Limit for such Product line.
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Product Line Overconcentration on any Distribution Date means the excess of (a) the aggregate of all amounts of Principal Receivables in the Accounts that represent financing for a single product line (other than Asset-Based Receivables and Receivables that represent financing for manufactured housing) on the last day of the Monthly Period immediately preceding such Distribution Date over (b) ____% for marine products, ____% for recreational vehicles, ____% for lawn and garden equipment, and ____% for any other products in total, of the total Principal Receivables on the last day of such immediately preceding Monthly Period. Notwithstanding the above, in the case of each such Overconcentration, the percentage in clause (b) for such Overconcentration may be increased or decreased 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 any Certificates rated by it (but which may involve an adjustment, upward or downward, of certain Invested Amounts).
Sample 1
Product Line Overconcentration means, on any Determination Date, the excess, if any, of (a) the portion of the Combined Outstanding Principal Balances that represents financing for a single Product line on the last day of the Monthly Period immediately preceding such Determination Date over (b) the Product Line Concentration Limit for such Product line; provided that the accounts receivable and asset based lending Product lines shall be aggregated and treated as a single product line for purposes of this definition.
Sample 1
Product Line Overconcentration means, on any Determination Date, the excess, if any, of (a) the aggregate outstanding balance of Principal Receivables used in calculating the Unadjusted Net Pool Balance as of the last day of the Collection Period preceding such date that represent financing for a single product line (according to an Originator’s classification system) over (b) the Product Line Concentration Limit for such product line, less the aggregate amount of duplicative amounts which are included in the Dealer Overconcentration and the Manufacturer Overconcentration.
Sample 1

Related to Product Line Overconcentration

  • Overconcentration Amount means as of any date of calculation of the Effective Leverage Ratio for the Fund, an amount equal to the sum of (without duplication):

  • Baseline concentration means that ambient concentration level that exists in the baseline area at the time of the applicable minor source baseline date. A baseline concentration is deter- mined for each pollutant for which a minor source baseline date is estab- lished and shall include:

  • Excess Concentration means, without duplication, the sum of the following amounts:

  • Excess Concentration Amount means, as of any date of determination on which any one or more of the Concentration Limitations are exceeded, an amount (calculated by the Servicer and without duplication) equal to the Dollar Equivalent of the portion of the Adjusted Principal Balance of each Eligible Collateral Loan that causes such Concentration Limitation to be exceeded.

  • Concentration Percentage means (i) for any Group A Obligor, 10.00%, (ii) for any Group B Obligor, 8.00%, (iii) for any Group C Obligor, 6.00% and (iv) for any Group D Obligor, 4.00%.

  • Obligor Concentration Limit At any time, in relation to the aggregate Unpaid Balance of Receivables owed by any single Obligor and its Affiliated obligors (if any):

  • House dust mite product means a product whose label, packaging, or accompanying literature states that the product is suitable for use against house dust mites, but does not indicate that the product is suitable for use against ants, cockroaches, or other household crawling arthropods.

  • Eligible Receivables means Receivables arising in the ordinary course of -------------------- Borrower's business from the sale of goods or rendition of services, which Silicon, in its sole judgment, shall deem eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. Without limiting the fact that the determination of which Receivables are eligible for borrowing is a matter of Silicon's discretion, the following (the "Minimum ------- Eligibility Requirements") are the minimum requirements for a Receivable to be ------------------------ an Eligible Receivable: (i) the Receivable must not be outstanding for more than 90 days from its invoice date, (ii) the Receivable must not represent progress xxxxxxxx, or be due under a fulfillment or requirements contract with the Account Debtor, (iii) the Receivable must not be subject to any contingencies (including Receivables arising from sales on consignment, guaranteed sale or other terms pursuant to which payment by the Account Debtor may be conditional), (iv) the Receivable must not be owing from an Account Debtor with whom the Borrower has any dispute (whether or not relating to the particular Receivable), (v) the Receivable must not be owing from an Affiliate of Borrower, (vi) the Receivable must not be owing from an Account Debtor which is subject to any insolvency or bankruptcy proceeding, or whose financial condition is not acceptable to Silicon, or which, fails or goes out of a material portion of its business, (vii) the Receivable must not be owing from the United States or any department, agency or instrumentality thereof (unless there has been compliance, to Silicon's satisfaction, with the United States Assignment of Claims Act), (viii) the Receivable must not be owing from an Account Debtor located outside the United States or Canada (unless pre-approved by Silicon in its discretion in writing, or backed by a letter of credit satisfactory to Silicon, or FCIA insured satisfactory to Silicon), (ix) the Receivable must not be owing from an Account Debtor to whom Borrower is or may be liable for goods purchased from such Account Debtor or otherwise. Receivables owing from one Account Debtor will not be deemed Eligible Receivables to the extent they exceed 25% of the total Receivables outstanding. In addition, if more than 50% of the Receivables owing from an Account Debtor are outstanding more than 90 days from their invoice date (without regard to unapplied credits) or are otherwise not eligible Receivables, then all Receivables owing from that Account Debtor will be deemed ineligible for borrowing. Silicon may, from time to time, in its discretion, revise the Minimum Eligibility Requirements, upon written notice to the Borrower.

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Concentration Limit means at any time for any Obligor, the product of (i) such Obligor’s Specified Concentration Percentage, times (ii) the aggregate Unpaid Balance of the Eligible Receivables included in the Receivables Pool at the time of determination.

  • Facility Production Limit means the production limit placed on the main product(s) or raw materials used by the Facility that represents the design capacity of the Facility and assists in the definition of the operations approved by the Director.

  • Collection Period means, with respect to any Payment Date, the period commencing on the first day of the calendar month immediately preceding the month in which such Payment Date occurs (and, in the case of the first Collection Period, the period from (but excluding) the Cutoff Date) and ending on the last day of the calendar month immediately preceding the month in which such Payment Date occurs.

  • 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.

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

  • Excess Inventory means all Inventory and Special Inventory possessed or owned by Flextronics that is not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and forecast.

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

  • Finance Charge Receivables means Receivables created in respect of periodic finance charges, late fees, returned check fees and all other similar fees and charges billed or accrued and unpaid on an Account.

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Critical Test Concentration or "(CTC)" means the specified effluent dilution at which the Permittee is to conduct a single-concentration Aquatic Toxicity Test.

  • Eligible Account Receivable means an Account Receivable owing to the Company or any Domestic Subsidiary which meets the following requirements:

  • Background concentration means such concentration of that substance as is present in:

  • Net Receivables Balance means, at any time, the aggregate Outstanding Balance of all Eligible Receivables at such time reduced by the aggregate amount by which the Outstanding Balance of all Eligible Receivables of each Obligor and its Affiliates exceeds the Concentration Limit for such Obligor.

  • Derived air concentration (DAC) means the concentration of a given radionuclide in air which, if breathed by the reference man for a working year of 2,000 hours under conditions of light work, results in an intake of one ALI. For purposes of these regulations, the condition of light work is an inhalation rate of 1.2 cubic meters of air per hour for 2,000 hours in a year. DAC values are given in Part 4, Appendix 4B, Table 4B1, Column 3.

  • Net concentration means the difference between the concentration of a given substance in a sample taken of the discharge and the concentration of the same substances in a sample taken at the intake which supplies water to the given process. For the purpose of this definition, samples that are taken to determine the net concentration shall always be 24-hour composite samples made up of at least six increments taken at regular intervals throughout the plant day.

  • Deactivation Avoidable Cost Credit means the credit paid to Generation Owners pursuant to Tariff, Part V, section 114.

  • Collection Point means the collection point for the Vehicle specified in the Confirmation and/or Rental Agreement;