Renewal Receivable definition

Renewal Receivable means a Receivable that satisfies the following conditions: (i) the Obligor was previously an obligor on another receivable originated by the Seller or the Nevada Originator, as applicable (the “Prior Receivable”), and (ii) the Obligor paid the Prior Receivable in cash in full or by net funding the Renewal Receivable proceeds (whether pursuant to the Seller’s or the Nevada Originator’s “Good Customer” program or otherwise) and such payment in full or net funding was not made in connection with the conversion of such Prior Receivable into a Re-Aged Receivable or a Re-Written Receivable.
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Renewal Receivable means a Receivable the proceeds of which were used to satisfy in full an existing Receivable.
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Renewal Receivable means a Receivable that satisfies the following conditions: (i) the Obligor was previously an obligor of a prior personal loan receivable originated by the Seller, Oportun, LLC or another applicable Originator, as applicable (the “Prior Receivable”), and (ii) the Obligor paid the Prior Receivable in cash in full or by net funding the Renewal Receivable proceeds (whether pursuant to the Seller’s or the Oportun, LLC’s “Good Customer” program or otherwise) and such payment in full or net funding was not made in connection with the conversion of such Prior Receivable into a Re-Aged Receivable or a Rewritten Receivable.
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Examples of Renewal Receivable in a sentence

  • In connection with any Renewal (other than a Renewal Receivable Replacement), on the day on which an Originator pays the Terminated Receivable Price, the Servicer shall deposit such amounts in immediately available funds into the Collection Account on such date.

  • If in connection with any Renewal Receivable Replacement an Originator receives any payments from or on behalf of the applicable Obligor that are applied to reduce the Principal Balance of the related Terminated Receivable such that the Principal Balance of the Renewal Receivable is less than the Principal Balance of the Terminated Receivable, the full amount of such payments shall be remitted to the Servicer to be applied as Collections in respect of such Terminated Receivable.

  • The Borrower will not permit any Originator to effect a Renewal (other than a Renewal Receivable Replacement) with respect to any Receivable unless on or before the date the applicable Renewal Receivable is originated, such Originator shall have acquired the related Terminated Receivable from the Borrower and the Borrower Loan Trustee for the benefit of the Borrower pursuant to Section 2.05 of the Purchase Agreement.


More Definitions of Renewal Receivable

Renewal Receivable means pursuant to any Renewal, the personal loan entered into between an Originator and the Obligor to refinance the related Terminated Receivable, which shall include, for the avoidance of doubt, any and all rights to any Renewal Receivable Advance.
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Renewal Receivable means a Receivable that satisfies the following conditions: (i) the Obligor was previously an obligor on another receivable originated by the Seller or the Nevada Table of Contents Confidential Treatment Requested by Oportun Financial Corporation Pursuant to 17 C.F.R. Section 200.83 Originator, as applicable (the “Prior Receivable”), and (ii) the Obligor paid the Prior Receivable in cash in full or by net funding the Renewal Receivable proceeds (whether pursuant to the Seller’s or the Nevada Originator’s “Good Customer” program or otherwise) and such payment in full or net funding was not made in connection with the conversion of such Prior Receivable into a Re-Aged Receivable or a Re-Written Receivable.
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Renewal Receivable means a Receivable that satisfies the following conditions: (i) the Obligor was previously an obligor of a prior personal unsecured loan receivable originated by the Seller or Oportun, LLC, as applicable (the “Prior Receivable”), and (ii) the Obligor paid the Prior Receivable in cash in full or by net funding the Renewal Receivable proceeds (whether pursuant [Base Indenture (OF XIV)] to the Seller’s or the Oportun, LLC’s “Good Customer” program or otherwise) and such payment in full or net funding was not made in connection with the conversion of such Prior Receivable into a Re-Aged Receivable or a Rewritten Receivable.
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Renewal Receivable means pursuant to any Renewal, the personal loan entered into between an Originator and the Obligor to refinance the related Terminated Receivable, which shall include, for the avoidance of doubt, any and all rights to any Renewal Receivable Advance. “Renewal Receivable Advance” means all right, title and interest of an Originator in to and under any additional advances made by an Originator, if any, in connection with a Renewal and, to the extent such rights were not previously conveyed or are not proceeds of the Receivable prior to such Renewal, all rights in to and under the replacement or substitute Contract entered into in connection with a Renewal. “Renewal Receivable Replacement” means a Renewal effected on or prior to the last day of the Revolving Period in which (a) the applicable Renewal Receivable (including the amount of the related Renewal Receivable Advance) is sold by an Originator to the Borrower and the Borrower Loan Trustee for the benefit of the Borrower, and (b) the existing Contract with respect to the applicable Terminated Receivable is terminated and replaced, on the day such Renewal is effected. “Reportable Event” has the meaning given to such term in Section 4043 of ERISA or the regulations issued thereunder with respect to a Pension Plan (other than an event for which the 30-day notice period is waived). “Reporting Date” means, with respect to any Payment Date, the third Business Day prior to such Payment Date. “Required Cash Reserve Percentage” [***]. “Required Legend” shall mean a watermark notation applied by the Electronic Vault System to every page of an Electronic Contract that reads “Midtown Madison Management LLC, as Collateral Agent, acting solely for the benefit of the Secured Parties, as secured party and assignee”.
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Renewal Receivable means a Receivable that satisfies the following conditions: (i) the Obligor was previously an obligor on another receivable originated by the Seller or the Nevada Originator, as applicable (the “Prior Receivable”), and
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Related to Renewal Receivable

  • Delinquent Receivable means any Receivable that is not a Liquidated Receivable and which the related Obligor fails to make at least 90% of the related Scheduled Receivables Payment by the date on which it is due and remains unpaid for more than sixty (60) days from the original payment due date.

  • Liquidated Receivable means any Receivable liquidated by the Servicer through the sale or other disposition of the related Financed Equipment or that the Servicer has, after using all reasonable efforts to realize upon the Financed Equipment, determined to charge off without realizing upon the Financed Equipment.

  • Review Receivable has the meaning designated in Section 1.02 of the Asset Representations Review Agreement.

  • 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).

  • Eligible Receivable means, at any time, a Receivable:

  • Receivable any right to payment for goods sold or leased or for services rendered, whether or not such right is evidenced by an Instrument or Chattel Paper and whether or not it has been earned by performance (including, without limitation, any Account).

  • Simple Interest Receivable means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined in accordance with the Simple Interest Method.