Sold Receivable definition

Sold Receivable means a Receivable that was more than 60 days delinquent and was sold to an unaffiliated third party by the Issuer, at the Servicer’s direction, as of the close of business on the last day of a Collection Period and in accordance with the provisions of Section 4.3(c) hereof.

Sold Receivable shall have the meaning assigned to it in Section 2.01(b) of the Sale Agreement.

Sold Receivable means a Receivable that was more than 60 days delinquent and was sold to an unaffiliated third party by the Issuer, at the Servicer's direction, as of the close of business on the last day of a collection period and in accordance with the provisions of Section 4.3(c) of the Sale and Servicing Agreement.

Examples of Sold Receivable in a sentence

• The Issuer shall sell each Sold Receivable for the greatest market price possible; provided, however, that aggregate Sale Amounts received by the Issuer for all Receivables sold to a single third-party purchaser on a single date must be at least equal to the sum of the Minimum Sale Prices for all such Receivables.

• Indication of the Issuer’s ownership of a Receivable shall be deleted from or modified on Seller’s computer systems when, and only when, the Receivable shall become a Purchased Receivable or a Sold Receivable or shall have been paid in full or sold pursuant to the terms of the Sale and Servicing Agreement.

• All collections for the Collection Period shall be applied by the Servicer as follows: With respect to each Receivable (other than a Purchased Receivable or a Sold Receivable), payments by or on behalf of the Obligor, (other than Supplemental Servicing Fees with respect to such Receivable, to the extent collected) shall be applied to interest and principal in accordance with the Simple Interest Method.

• All collections for each Collection Period shall be applied by the Servicer as follows: With respect to each Receivable (other than a Purchased Receivable or a Sold Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method.

• Except as otherwise permitted in the Receivables Purchase Agreement (including in accordance with the applicable Credit and Collection Guidelines), not extend the maturity or adjust the Outstanding Balance downward or otherwise modify the payment terms of any Sold Receivable in any material respect, or amend, modify or waive, in any material respect, any term or condition of any related Contract (which term or condition relates to payments under such Contract).

More Definitions of Sold Receivable

Sold Receivable means, with respect to any Originator, a Receivable sold or contributed, or purported to be sold or contributed, hereunder to the Company by such Originator.

Sold Receivable shall have the meaning assigned to it in Section 2.01(b) of each Transfer Agreement.

Sold Receivable has the meaning specified in Section 2.03(a).

Sold Receivable means a Receivable and the Related Security related thereto that has been sold or otherwise conveyed to the Purchaser hereunder; provided, however, that on any Purchase Date, solely for purposes of the representations and warranties set forth in ARTICLE 4 and Section 5.02 hereof, “Sold Receivables” shall include the Receivables to be sold or otherwise conveyed on such Purchase Date.

Sold Receivable means a Receivable that was sold to an unaffiliated third party by the Issuer, at the Servicer's direction, pursuant to Section 8.05(a) hereof.

Sold Receivable. As defined in Section 2.1(b) of the Contribution Agreement.

Sold Receivable means a Receivable which the Seller has transferred and --------------- assigned to the Purchaser and which, pursuant to the procedure described in Section 2.1, has been identified as a Sold Receivable.