Repurchased Receivable definition

Repurchased Receivable means a Receivable purchased by Santander Consumer pursuant to Section 3.4 of the Purchase Agreement or by the Servicer pursuant to Section 3.6 of the Sale and Servicing Agreement.

Repurchased Receivable means a Receivable purchased by VCI pursuant to Section 3.3 of the Purchase Agreement, by the Servicer pursuant to Section 3.6 of the Sale and Servicing Agreement or by the Seller pursuant to Section 2.3 of the Sale and Servicing Agreement.

Repurchased 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 4.06 by the Seller pursuant to Section 3.02 or by NMAC pursuant to Section 4.3 of the Purchase Agreement.

Examples of Repurchased Receivable in a sentence

• If the Servicer shall commence a legal proceeding to enforce a Receivable (other than a Repurchased Receivable), the Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer.

• With respect to each Actuarial Receivable, (other than a Repurchased Receivable), payments by or on behalf of the Obligor, (other than amounts, if any, collected with respect to administrative fees, including late fees, prepayment fees and liquidation fees collected on the Receivable) shall be applied to interest and principal in accordance with the Actuarial Method.

• If, following the reassignment of a Repurchased Receivable, in any enforcement suit or legal proceeding, it is held that Seller may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, HARC and the Issuer shall, at the expense of Seller, take such steps as Seller deems reasonably necessary to enforce the Receivable, including bringing suit in HARC's or in the Issuer's name.

• If, following the reassignment of a Repurchased Receivable, in any enforcement suit or legal proceeding, it is held that Seller may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, HARC and the related Issuer shall, at the expense of Seller, take such steps as Seller deems reasonably necessary to enforce the Receivable, including bringing suit in HARC’s or in the related Issuer’s name.

• Without limiting the foregoing Grant, any Receivable purchased by the Servicer pursuant to Section 3.6 of the Sale and Servicing Agreement or repurchased by Santander Consumer pursuant to Section 3.4 of the Purchase Agreement shall be deemed to be automatically released from the lien of this Indenture without any action being taken by the Indenture Trustee upon payment by the Servicer or Santander Consumer, as applicable, of the related Repurchase Price for such Repurchased Receivable.

More Definitions of Repurchased Receivable

Repurchased Receivable means a Receivable purchased by the Master Servicer pursuant to Section 4.7 or repurchased by the Seller pursuant to Section 3.2 or the Master Servicer pursuant to Section 11.1(a).

Repurchased Receivable shall have the meaning given to that term in clause 10.5 (Repurchase) of the Receivables Purchase Agreement.

Repurchased Receivable means a Receivable purchased by BAC pursuant to Section 3.4 of the Purchase Agreement.

Repurchased Receivable means any repurchased Administrative Receivable or repurchased Warranty Receivable.

Repurchased Receivable shall refer to a Purchased Receivable which the Seller has become obligated to Repurchase under Section 4.1 hereof.

Repurchased Receivable means a Transferred Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Section 2.11 or repurchased or retransferred as of such time by the Transferor pursuant to Section 2.12, Section 2.13 or Section 2.15(d), as applicable.

Repurchased Receivable means a Receivable released from the lien hereof pursuant to Section 2.15 hereof and, if applicable, transferred to the Seller pursuant to the Contribution Agreement and repurchased by the Transferor pursuant to the Transfer and Assignment Agreement.