Write-Down Adjustment definition
Write-Down Adjustment means, with respect to any Pool Receivable which has not become 366 days past due, the positive or negative amount obtained by subtracting (A) the Outstanding Balance of such Pool Receivable less the Write-Down Amount, minus (B) the amount of Recoveries received with respect to such Pool Receivable.
Write-Down Adjustment means, as applicable, (a) subtracting the amount, if any, by which write downs of Domestic Borrower's assets, as reflected on Domestic Borrower's beginning balance sheet for fiscal year 2002, exceed $37,300,000, but in no event to exceed $4,700,000, and (b) adding the amount, if any, by which write downs of Domestic Borrower's assets, as reflected on Domestic Borrower's beginning balance sheet for fiscal year 2002, are less than $37,300,000.