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).
Purchased Receivable means a Receivable as to which payment of the Purchase Amount has been made by the Depositor pursuant to Section 2.4 of the Sale and Servicing Agreement or by the Servicer pursuant to Sections 3.7 or 9.1 of the Sale and Servicing Agreement.
Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer or CNHICA pursuant to Section 4.6 of the Sale and Servicing Agreement, by CNHICA pursuant to Section 6.2 of the Purchase Agreement, or by the Seller pursuant to Section 3.2 of the Sale and Servicing Agreement, or as of the first day of a Collection Period by CNHICA pursuant to Section 9.1(a) of the Sale and Servicing Agreement and Section 6.2 of the Purchase Agreement.
Examples of Purchased Receivable in a sentence
If the Servicer shall commence a legal proceeding to enforce a Receivable, the [Issuing Entity][Grantor Trust] (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer.
With respect to each Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method.
Contract Early Termination) above, VWFS will deliver to the Issuer a notice specifying the details of the Redelivery Purchased Receivable to be repurchased in the form set out in Schedule 1 (Form of Redelivery Repurchase Notice) hereto (such notice, a "Redelivery Repurchase Notice").
Upon payment of the Redelivery Repurchase Price in respect of any Redelivery Purchased Receivable pursuant to clause 3 (Redelivery Repurchase Price), the Seller shall become the absolute owner of such Redelivery Purchased Receivable.
More Definitions of Purchased Receivable
Purchased Receivable means, for a Collection Period, a Receivable (a) purchased by the Servicer under Section 3.3 of the Sale and Servicing Agreement, (b) repurchased by the Depositor under Section 2.5 of the Sale and Servicing Agreement or (c) repurchased by Ford Credit under Section 3.4 of the Receivables Purchase Agreement, and for which, in each case, the purchase or repurchase is effective during the Collection Period and the Purchase Amount is included in Available Funds for the Payment Date following the related Payment Date.
Purchased Receivable means a Receivable purchased (i) by or on behalf of the Servicer pursuant to Section 4.07 of the Sale and Servicing Agreement, (ii) by or on behalf of the Seller pursuant to Section 3.03 of the Sale and Servicing Agreement or Section 7.02 of the Receivables Purchase Agreement or (iii) by the Servicer pursuant to Section 9.01 of the Sale and Servicing Agreement pursuant the Servicer’s exercise of an optional purchase of all Receivables.
Purchased Receivable means any Receivable which is purchased by the Purchaser pursuant to Section 2.02.
Purchased Receivable means a Receivable and, if applicable, its related Equipment repurchased as of the close of business on the last day of a Collection Period by a Seller pursuant to the Sale Agreement and repurchased as of such time by the Purchaser pursuant to the Purchase and Sale Agreement.
Purchased Receivable means each Receivable sold, contributed or otherwise transferred to the Borrower by the Seller pursuant to the Receivables Purchase Agreement; provided, that upon any Release thereof or purchase by the Seller or any other Person, such Receivable shall cease to be a Purchased Receivable.
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 and 4.7 of the Sale and Servicing Agreement or by LBAC pursuant to Section 3.4 of the Sale and Servicing Agreement.
Purchased Receivable means (a) any Receivable purchased (i) by or on behalf of the Servicer pursuant to Section 4.07, (ii) by or on behalf of a Seller pursuant to Section 3.03 hereof or the related Receivables Purchase Agreement, or (b) all Receivables that were transferred to the Depositor by BMW Bank pursuant to the BMW Bank Receivables Purchase Agreement if (i) BMW Bank becomes the subject of an insolvency proceeding and the FDIC, as receiver or conservator for BMW Bank, exercises its right of repudiation as contemplated by paragraph (d)(4)(ii) of the FDIC Rule and (ii) pays damages to the Trust in an amount not less than the sum of (x) the aggregate outstanding Principal Balance of such Receivables and (y) the product of (1) the amount of interest accrued on the Notes through the date of repudiation and (2) the percentage that the aggregate outstanding Principal Balance of such Receivables bears to the aggregate outstanding Principal Balance of all of the Receivables on the date of repudiation.