Receivable Maturity Date definition
Receivable Maturity Date means, with respect to any Account, the due date for payment therefor specified in the Contract therefor, or, if no date is so specified, 30 days from the Billing Date.
Receivable Maturity Date. For any Receivable, the due date for payment specified in the related Contract (not greater than 120 days), or, if no due date is so specified, 120 days from the Billing Date for such Receivable; notwithstanding the foregoing, with the prior written consents of the Administrative Agent and the Liquidity Agent, up to 15% of the Net Receivables Pool Balance may be comprised of Eligible Receivables with payment due dates of up to 180 days.
Examples of Receivable Maturity Date in a sentence
Subject to Sections 3.6(iii) and (iv), the Servicer may grant extensions, rebates, or adjustments on a Receivable; provided, however, that if the Servicer extends the date for final payment by the Obligor of any Receivable beyond 6 months past the last day of the Collection Period in which the Final Scheduled Receivable Maturity Date occurs, it will promptly purchase the Receivable in the manner provided in Section 3.7, unless such extension was required by law or court order.