Removed Receivable definition

Removed Receivable means a Receivable and, in the case of a Lease included in the 2015-1 SUBI, a beneficial interest in such Lease and its related titled Equipment, as applicable, repurchased as of the close of business on the last day of a Collection Period by a Seller pursuant to Section 6.2 of the Sale Agreement and repurchased as of such time by the Purchaser pursuant to Section 7.2 of the Purchase and Sale Agreement, purchased by the Managing Member pursuant to Section 2.1 of the Removal and Clean-Up Call Agreement, or purchased by a third-party pursuant to Section 2.4 of the Purchase and Sale Agreement.

Removed Receivable means a Receivable and, if applicable, its related Equipment removed as of the close of business on the last day of a Collection Period by the Purchaser pursuant to the Purchase and Sale Agreement and removed as of such time by the applicable Seller pursuant to the Sale Agreement.

Removed Receivable means a Receivable which the Servicer is obligated to acquire pursuant to Section 3.04, or which the Issuer is obligated to make a payment in respect of, pursuant to Section 2.05 or 7.02, or in the event the Issuer has elected to make a redemption pursuant to Section 11.01, all of the Receivables.

Examples of Removed Receivable in a sentence

• Upon satisfaction of the conditions and the requirements of Section 2.03 or 2.04 of the Servicing Agreement, as applicable, the Issuer shall execute and deliver to the Trustee and the Trustee shall acknowledge upon its receipt from the Issuer an instrument acknowledging that such Removed Receivable has been released by the Receivables Trust and that such Removed Receivable no longer constitutes a Receivable underlying the Receivables Trust Certificate.

• If the Servicer shall commence a legal proceeding, on behalf of the Issuer, to enforce a Receivable, the Issuer (in the case of a Receivable other than a Removed Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable or, in the case of a Lease, a beneficial interest in such Lease, to the Servicer.

• The Seller shall deliver to the Owner Trustee and the Indenture Trustee, not later than five Business Days after the Removal Date, a computer file or microfiche list containing a true and complete list of each Originator Receivable which as of the Removal Date shall be deemed to be a Removed Receivable, such Originator Receivables being identified by account number and the aggregate amount thereof as of the Removal Date.

• If the Servicer shall commence a legal proceeding, on behalf of the Issuer, to enforce a Receivable, the Issuer (in the case of a Receivable other than a Removed Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable or, in the case of a TRAC Lease, a beneficial interest in such TRAC Lease, to the Servicer.

• The Transferor shall deliver to the Trustee, not later than five Business Days after the Removal Date, a computer file or microfiche list containing a true and complete list of each Receivable which as of the Removal Date shall be deemed to be a Removed Receivable, such Receivables being identified by account number and the aggregate amount thereof as of the Removal Date.

More Definitions of Removed Receivable

Removed Receivable means a Receivable which the Servicer is obligated to acquire pursuant to Section 3.04, or which the Issuer is obligated to reacquire pursuant to Section 2.05 or 7.02, or the Issuer has elected to reacquire pursuant to Section 11.01.

Removed Receivable as defined in subsection 2.13(a).

Removed Receivable means a Receivable and, in the case of a Lease included in the 2013-2 SUBI, a beneficial interest in such Lease and its related titled Equipment, as applicable, repurchased as of the close of business on the last day of a Collection Period by the Transferor (or its assignee) pursuant to Sections 2.4 or 7.2 of the Purchase and Sale Agreement or purchased by a third-party pursuant to Section 2.4 of the Purchase and Sale Agreement.

Removed Receivable means a Receivable and, in the case of a Lease, its related Equipment, and in the case of a Lease included in the 2013-1A SUBI, a beneficial interest in such Lease and its related titled Equipment, as applicable, repurchased as of the close of business on the last day of a Collection Period by a Seller pursuant to Section 6.2 of the Sale Agreement and repurchased as of such time by the Purchaser pursuant to Section 7.2 of the Purchase and Sale Agreement, purchased by the Managing Member (or its assignee) pursuant to Section 2.1 of the Removal and Clean-Up Call Agreement, or purchased by a third-party pursuant to Section 2.4 of the Purchase and Sale Agreement.

Removed Receivable means a Receivable and, in the case of a Lease, its related Equipment, and in the case of a Lease included in the Series 2014-1A SUBI, a beneficial interest in such Lease and its related Equipment, as applicable, purchased as of the close of business on the last day of a Collection Period by a Seller pursuant to Section 6.2 of the Sale Agreement and repurchased as of such time by the Purchaser pursuant to Section 7.2 of the Purchase and Sale Agreement, purchased by the Managing Member pursuant to Section 2.1 of the Removal and Clean-Up Call Agreement, or purchased by a third-party pursuant to Section 2.1 of the Removal and Clean-Up Call Agreement.

Removed Receivable means, a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Section 9.2.

Removed Receivable means any Receivable conveyed to the RPA Seller from the RSA Seller pursuant to Section 1.1 of the Sale Agreement but subsequently repurchased or substituted for pursuant to Section 1.5 or otherwise reconveyed from the RPA Seller to the RSA Seller.