Subsequent Receivable definition

Subsequent Receivable means each Receivable that becomes a part of the Collateral on a Funding Date other than the Funding Date relating to the Initial Loan.

Subsequent Receivable means a Receivable transferred to the Issuer by the Seller on a Funding Date.

Subsequent Receivable means each motor vehicle retail installment sale contract described in a Schedule of Subsequent Receivables attached as Schedule A to a First-Tier Subsequent Assignment (an identical copy of which is attached as Schedule A to a related Second-Tier Subsequent Assignment), and all rights and obligations thereunder and any amendments, modifications or supplements to such motor vehicle retail installment sale contract.

Examples of Subsequent Receivable in a sentence

• As of the applicable Subsequent Cutoff Date, if any, each Subsequent Receivable being purchased during the Funding Period had or will have a first scheduled due date on or prior to the end of the third month immediately following the applicable Subsequent Cutoff Date.

• The Seller covenants that in the event any of the foregoing conditions precedent are not satisfied with respect to any Subsequent Receivable on the date required as specified above, the Seller will immediately repurchase such Subsequent Receivable from the Trust, at a price equal to the Purchase Amount thereof, in the manner specified in Section 4.7.

• As of the Subsequent Transfer Date, there are no liens or claims existing or which have been filed for work, labor, storage, materials or taxes relating to a Financed Vehicle that shall be liens prior to, or equal or coordinate with, the security interest in the Financed Vehicle granted by the Subsequent Receivable.

• The Obligor with respect to the Subsequent Receivable does not have any option under the Subsequent Receivable to borrow from any person additional funds secured by the Financed Vehicle.

• Each Subsequent Receivable is the legal, valid and binding obligation of the Obligor thereunder and is enforceable in accordance with its terms, except only as such enforcement may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors' rights generally, and all parties to such contract had full legal capacity to execute and deliver such contract and all other documents related thereto and to grant the security interest purported to be granted thereby.

More Definitions of Subsequent Receivable

Subsequent Receivable means any receivable listed on Schedule A hereto.

Subsequent Receivable means, with respect to each Funding Date, each Receivable contributed to the Depositor by the Contributor and then transferred from the Depositor to the Issuer and a security interest simultaneously granted to the Indenture Trustee by the Issuer on such Funding Date as set forth as Schedule I to the related Depositor Assignment.

Subsequent Receivable means any Receivable described in a Schedule of Subsequent Receivables.

Subsequent Receivable has the meaning specified in the Sale and Servicing Agreement.

Subsequent Receivable means a Receivable acquired by the Issuer on any given Funding Date.

Subsequent Receivable has a Contract Value as of the Subsequent Cutoff Date that (when combined with the Contract Value of any other Receivables with the same or an affiliated Obligor) does not exceed 1% of the aggregate Contract Value of all Receivables.

Subsequent Receivable means Receivables described in a Schedule of Subsequent Receivables (an identical copy of which is attached as Schedule A to the related Second-Tier Subsequent Assignment) and transferred by the Depositor to the Issuer on a Subsequent Transfer Date.