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 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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More Definitions of Product Line Overconcentration

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 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
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

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):

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

  • Excess Concentration Amount means, on any date of determination, the sum of, without duplication,

  • Concentration Percentage means (i) for any Group AA Obligor, 30.00%, (ii) for any Group A Obligor, 17.50%, (iii) for any Group B Obligor, 15.00%, (iv) for any Group C Obligor, 12.50% and (v) for any Group D Obligor, 7.50%.

  • 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):

  • Eligible Receivables means and include with respect to each Borrower, each Receivable of such Borrower arising in the Ordinary Course of Business and which Agent, in its sole credit judgment, shall deem to be an Eligible Receivable, based on such considerations as Agent may from time to time deem appropriate. A Receivable shall not be deemed eligible unless such Receivable is subject to Agent’s first priority perfected security interest and no other Lien (other than Permitted Encumbrances), and is evidenced by an invoice or other documentary evidence satisfactory to Agent. In addition, no Receivable shall be an Eligible Receivable if:

  • 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.

  • 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.

  • data collection means the collection and verification of meter reading data from natural gas meters; “data transfer” means the transfer of metered data to the GPRO;

  • 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).

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

  • 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.

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

  • Eligible Accounts Receivable means Accounts, Instruments, Documents, Chattel Paper, Contracts, and General Intangibles from customers of Borrowers or any Approved Subsidiary in which Bank has a perfected first priority security interest subject to Bank's credit approvals thereof other than the following: (i) Accounts which remain unpaid ninety (90) days after the date of the applicable invoice; (ii) Accounts with respect to which the Account Debtor is an Affiliate of any of the Borrowers, or a director, officer or employee of any of the Borrowers; (iii) Accounts with respect to which the Account Debtor is the United States of America or any department, agency or instrumentality thereof, unless filings in accordance with the Assignment of Claims Act have been completed and filed in a manner satisfactory to the Agent or, as to any government contract entered into after the date of this Agreement, concurrently with the execution and delivery of that government contract; (iv) Accounts with respect to which the Account Debtor is not a resident of the United States or Canada except if such Accounts (1) are secured by irrevocable trade letter(s) of credit in form and content acceptable to Bank and confirmed by a United States financial institution acceptable to Bank, (2) are secured by standby letters of credit with an expiration of date of at least one hundred twenty (120) days from the date of shipment confirmed by United States Bank acceptable to Bank and otherwise in form and content acceptable to Bank, or (3) are insured by a company acceptable to Bank, which insurance covers business and political risk; (v) Accounts arising with respect to goods which have not been shipped and delivered to and accepted as satisfactory by the Account Debtor or arising with respect to services which have not been fully performed and accepted as satisfactory by the Account Debtor; (vi) Accounts for which the prospect of payment in full or performance in a timely manner by the Account Debtor is or is likely to become impaired as determined by the Bank in its reasonable discretion; (vii) Accounts which are not invoiced (and dated as of the date of such invoice) and sent to the Account Debtor within fifteen (15) days after delivery of the underlying goods to, or performance of the underlying services for, the Account Debtor; (viii) Accounts with respect to which Bank does not have a first and valid fully perfected security interest; (ix) Accounts with respect to which the Account Debtor is the subject of bankruptcy or a similar insolvency proceeding or has made an assignment for the benefit of creditors or whose assets have been conveyed to a receiver or trustee, except if Bank is delivered evidence acceptable to Bank as to the collectability in the normal course of business of such Accounts; (x) Accounts with respect to which the Account Debtor's obligation to pay the Account is conditional upon the Account Debtor's approval or is otherwise subject to any repurchase obligation or return right, as with sales made on a xxxx-and-hold, guaranteed sale, sale-and-return, sale on approval (except with respect to Accounts in connection with which Account Debtors are entitled to return Inventory solely on the basis on the quality of such Inventory) or consignment basis; (xi) Accounts with respect to which the Account Debtor is located in Minnesota unless the applicable Borrower has filed a Notice of Business Activities Report with the Secretary of State of Minnesota for the then current year; (xiv) all Accounts of any Account Debtor if twenty-five percent (25.0%) or more of all Accounts of such Account Debtor have ceased to be Eligible Accounts Receivable; and (xii) Accounts with respect to which the Account Debtors are residents of Canada to the extent the aggregate sum exceeds $750,000.00. The approvals of Account Debtors and Accounts shall be for Bank purposes only and shall not constitute any representation by Bank as to the credit worthiness of any such Account Debtor or the advisability or profitability of doing business with such Account Debtor.