Tooling Setoffs definition

Tooling Setoffs means Setoffs for any payment made by a Customer to a tooling vendor or tooling repairman for all or part of the purchase price or repair price of Tooling (defined below) used by Supplier in connection with the manufacture, assembly or transportation for a Customer’s Component Parts (existing and future) for which the Customer determines such payment is necessary to secure the release of, or prevent assertion of, any valid lien against Tooling or is required to obtain possession of Tooling from the tooling vendor or tooling repairman.
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Tooling Setoffs means setoffs, recoupments, or deductions on account of payments made by a Consenting OEM to any third party for all or part of the purchase price or the repair price of Tooling used by Supplier in connection with the manufacture, assembly, or transportation of Component Parts for such Consenting OEM, if the Consenting OEM determines that such payments are necessary or helpful to secure release of, or prevent the assertion of, a valid lien on the Tooling or is required to obtain possession of the Tooling.
Sample 1
Tooling Setoffs means Setoffs for any payment to a tooling vendor or tooling repairman for all or part of the purchase price or repair price of Tooling (defined below) that is used by Supplier in connection with the manufacture, assembly or transportation for a Customer’s Component Parts (existing and future) for which the Customer reasonably determines such payment is necessary to secure the release of, or prevent assertion of, any valid and perfected lien against Tooling or is required to obtain possession of Tooling from the Tooling vendor or tooling repairman. Tooling Setoffs with respect to particular Tooling may be taken only against specific accounts payable due to Supplier with respect to such particular Tooling.
Sample 1

Examples of Tooling Setoffs in a sentence

  • Allowed Setoffs, Material Setoffs, Tooling Setoffs, Ordinary Course Setoffs and Setoffs for Billing Errors are collectively called “Permitted Setoffs”.

Related to Tooling Setoffs

  • Originator means the sender of the first payment order in a funds transfer.

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

  • Warranty Receivable means a Receivable which the Seller is required to repurchase pursuant to Section 3.02.

  • Subsequent Receivables means the Receivables transferred to the Issuer pursuant to Section 2.2, which shall be listed on Schedule A to the related Subsequent Transfer Agreement.

  • Related Loan Group For Group 1, Loan Group 1; for Group 2, Loan Group 2; for Group 3, Loan Group 3; and for Group 4, Loan Group 4.

  • Performing Mortgage Loan Any Mortgage Loan or Serviced Pari Passu Companion Loan that is not a Specially Serviced Mortgage Loan.

  • Settlement Receivable means any general intangible, payment intangible, or instrument representing or reflecting an obligation to make payments to or for the benefit of a Person in consideration for a Settlement made or arranged, or to be made or arranged, by such Person.

  • 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).

  • Mortgage Loan Seller Each of CREFI, GACC and JPMCB, and their respective successors in interest.

  • Xxxxxx Mae Guides The Xxxxxx Xxx Xxxxxxx’ Guide and the Xxxxxx Mae Servicers’ Guide and all amendments or additions thereto.

  • Interest Receivable means, in respect of the relevant Measurement Period ending on any Measurement Date, all interest received by or accrued to the Issuer during such period, including any amounts received by the Issuer in terms of any Treasury Transaction (as such relates to the hedging by the Issuer of its interest rate risk) (other than interest which is not received or receivable in funds that are freely remittable to South Africa), all as reflected in, and/or ascertained from, the Financial Statements for that Measurement Period;

  • Prepayment Charge Schedule As of any date, the list of Prepayment Charges included in the Trust Fund on such date, attached hereto as Schedule 2 (including the prepayment charge summary attached thereto). The Prepayment Charge Schedule shall set forth the following information with respect to each Prepayment Charge:

  • 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.

  • Originators have the meaning set forth in the Purchase and Sale Agreement, as the same may be modified from time to time by adding new Originators or removing Originators, in each case with the prior written consent of the Administrative Agent.

  • Fannie Mae Guides The Fannie Mae Sellers' Guide and the Fannie Mae Serxxxxxx' Xxide and all axxxxxxxxx xx xxxxxions thereto.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "Xxxxx Fargo Bank, N.A. as Master Servicer for HSBC Bank USA, National Association, as Trustee f/b/o holders of Xxxxxxx Xxxxx Mortgage Investors, Inc., Mortgage Pass-Through Certificates, MANA Series 2007-OAR4 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

  • 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.

  • Purchased Loan A motor vehicle retail installment loan relating to the sale of an automobile or light-duty truck originated by a Dealer, purchased by CAC or a subsidiary from such Dealer and evidenced by a motor vehicle retail installment sales contract.