Terminated Receivable definition

Terminated Receivable means any Purchased Receivable where:
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Terminated Receivable means the Receivable that is refinanced in connection with a Renewal.
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Terminated Receivable means the Receivable that is refinanced in connection with a Renewal. “Terminated Receivable Price” shall mean, with respect to any Receivable that becomes a Terminated Receivable, the excess of (a) all amounts owing on such Receivable (including all amounts of principal, interest and fees on the day that such Receivable becomes a Terminated Receivable), minus (b) all amounts received from the proceeds of the Renewal Receivable that are applied by the Servicer in accordance with the Collection Policy to satisfy any amounts of interest and fees owing on such Receivable, minus (c) all amounts of insurance refunds applied by the Servicer in accordance with the Collection Policy to satisfy any portion of principal owing on the Receivable, in each case (with respect to clauses (b) and (c)) that are also applied in connection with such Terminated Receivable as Collections by the Servicer under the Basic Documents on the day such Receivable becomes a Terminated Receivable. “Test Data File” means a test data file, which shall include the loan master file, the transaction history file and all other files necessary to carry out the servicing obligations hereunder.
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Examples of Terminated Receivable in a sentence

  • 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.

  • 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.


More Definitions of Terminated Receivable

Terminated Receivable means a Receivable which is terminated in accordance with its terms.
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Terminated Receivable means any Receivable which, in accordance with the --------------------- Contract related thereto, has been terminated, whether upon its maturity date, as a result of becoming an Under Collateralized Receivable, or otherwise.
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Related to Terminated Receivable

  • Liquidated Receivable means a Defaulted Receivable as to which the related Financed Vehicle has been liquidated by the Servicer.

  • 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).

  • Excluded Receivable means any Receivable (without giving effect to the exclusion of “Excluded Receivables” from the definition thereof):

  • Diluted Receivable means that portion, and only that portion, of any Receivable which is either (a) reduced or canceled as a result of a Dilution Factor or (b) subject to any specific dispute, offset, counterclaim or defense whatsoever.

  • Transferred Receivable means a Purchased Receivable or a Contributed Receivable.