Starting Receivable Balance definition

Starting Receivable Balance. With respect to a Receivable that is a Retail Note, the aggregate principal amount advanced under such Receivable toward the purchase price of the Financed Vehicle or Financed Vehicles, including insurance premiums, service and warranty contracts, federal excise and sales taxes and other items customarily financed as part of a Retail Note and related costs, less payments received from the Obligor prior to the Cutoff Date with respect to such Receivable allocable on the basis of the actuarial method to principal.
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Starting Receivable Balance. With respect to a Receivable that is a Retail Note, the aggregate principal amount advanced under such Receivable toward the purchase price of the Financed Vehicle or Financed Vehicles, including insurance premiums, service and warranty contracts, federal excise and sales taxes and other items customarily financed as part of a Retail Note and related costs, less payments received from the Obligor prior to the Cutoff Date with respect to such Receivable allocable on the basis of the actuarial method to principal and (b) with respect to a Receivable that is a Retail Lease, the remaining Scheduled Payments or purchase option price set forth in the Retail Lease minus, without duplication, the sum of (i) Unearned Income and (ii) payments received from the Obligor prior to the Cutoff Date with respect to such Receivable allocable to the principal portion of the lease payments.
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Examples of Starting Receivable Balance in a sentence

  • The Starting Receivable Balance of each Designated Receivable as of its applicable Cutoff Date shall be $1,000 or more.

  • NFC covenants to deliver and sell to NFRRC pursuant to Section 2.01 on or prior to the end of the Funding Period Subsequent Receivables with an aggregate Starting Receivable Balance equal to the amount of the Pre-Funding Account Initial Deposit.

  • The Starting Receivable Balance of each Designated Receivable as of the Cutoff Date shall be $1,000 or more.

  • Since the applicable Cutoff Date, no Designated Receivable has been amended or otherwise modified such that the total number of the Obligor's Scheduled Payments is increased or the Starting Receivable Balance thereof is increased, and prior to the applicable Cutoff Date, no Designated Receivable has been amended or restructured for credit reasons.

  • The Servicer shall not amend or otherwise modify any ---------------- such Receivable such that the Starting Receivable Balance, the Contractual Annual Percentage Rate or the total number of Scheduled Payments is altered or such that the final scheduled payment on such Receivable will be due later than March 31, 2009.

  • In consideration for the Series 2006-ARC Portfolio Assets sold at the Lease Purchase Closing, NFC shall pay to Harco Leasing on the Lease Purchase Date an amount equal to the aggregate Starting Receivable Balance as of the Cutoff Date (the “Lease Purchase Price”) of the Retail Leases being so sold (the “Designated Retail Leases”) on the Lease Purchase Date.

  • NFC covenants to deliver and sell to NFRRC pursuant to Section 2.01 on or prior to the end of the Funding Period Subsequent Receivables with an aggregate Starting Receivable Balance equal to $91,472,361.64.

  • In consideration for the Series 2004-A Portfolio Assets sold at each Lease Purchase Closing, NFC shall pay to Harco Leasing on such Lease Purchase Date an amount equal to the aggregate Starting Receivable Balance as of the related Cutoff Date (the “Lease Purchase Price”) of the Retail Leases being so sold (the “Designated Retail Leases”) on such Lease Purchase Date.

  • In consideration for the Series 2004-B Portfolio Assets sold at each Lease Purchase Closing, NFC shall pay to Harco Leasing on such Lease Purchase Date an amount equal to the aggregate Starting Receivable Balance as of the related Cutoff Date (the “Lease Purchase Price”) of the Retail Leases being so sold (the “Designated Retail Leases”) on such Lease Purchase Date.

  • NFC ----------------------------------------- covenants to deliver and sell to NFRRC pursuant to Section 2.01 on or prior to the end of the Funding Period Subsequent Receivables with an aggregate Starting Receivable Balance equal to $70,500,316.57.