Contractual Dilution Reserve means, as of any date of determination and with respect to the Receivables of any Obligor, the aggregate amount of any reserves or liabilities maintained on the Seller’s books and records in accordance with generally accepted accounting principles and the Credit and Collection Policy for, or in anticipation of, volume rebates, flat fee rebates, performance-to-plan rebates, cost-plus-zero program rebates or similar rebates affecting or to affect the Receivables of such Obligor as reported on (i) prior to the Amortization Date, the most recently delivered Monthly Report, Weekly Report or Daily Report, as the case may be, or (ii) at any time on or after the Amortization Date, as reported on the last Monthly Report, Weekly Report or Daily Report delivered prior to the Amortization Date.
Contractual Dilution Reserve means, as of any date of determination, (i) during a Level 1 Ratings Period, an amount equal to the Dollar Equivalent of the sum of the highest amount of credits actually paid or credited with respect to the Receivables under the Rebate Program during the twelve (12) most recently ended Monthly Periods by each Originator, (ii) during a Level 2 Ratings Period, the product of (x) the sum of the Dollar Equivalent of the highest amount of credits actually paid or credited with respect to the Receivables under the Rebate Program during the twelve (12) most recently ended Monthly Periods by each Originator times (y) 2.0 and (iii) during a Level 3 Ratings Period, an amount equal to the Rebate Program Liability as of such date.
Contractual Dilution Reserve means, as of any date of determination, (i) during a Level 1 Ratings Period or Level 2 Ratings Period, an amount equal to the Dollar Equivalent of the sum of the highest amount of credits actually paid or credited with respect to the Receivables under the Rebate Program during the three (3) most recently ended Monthly Periods by each Originator and (ii) during a Level 3 Ratings Period, an amount equal to the Rebate Program Liability as of such date.
Examples of Contractual Dilution Reserve in a sentence
The Contractual Dilution Reserve shall be calculated by the Master Servicer, on behalf of the Seller, in the ordinary course based on the Contractual Dilution then expected to occur with respect to the then outstanding Pool Receivables as reasonably determined by the Master Servicer.
The Master Servicer will not make any material change in the methodology used to calculate Contractual Dilution Reserve without the prior written consent of the Purchasers.
NET POOL BALANCE: At any time, the aggregate Outstanding Balance of all Eligible Receivables at such time reduced by (i) the aggregate amount by which the Outstanding Balance of all Eligible Receivables of each Obligor and its Affiliates exceeds the Obligor Concentration Limit for such Obligor and (ii) the Contractual Dilution Reserve.
The Master Servicer will not make any material change in the methodology used to calculate Contractual Dilution Reserve without the prior written consent of the Administrative Agent.
Additionally, the Master Servicer shall deliver such other information and reports reasonably requested by the Administrative Agent with respect to the Contractual Dilution Reserve, including a comparison of the Contractual Dilution Reserve to the actual Contractual Dilution with respect to prior Calculation Periods, in form and substance reasonably satisfactory to the Administrative Agent.
More Definitions of Contractual Dilution Reserve
Contractual Dilution Reserve means, at any time, the sum of (i) the volume rebate accrual and cash discount accrual with respect to Mohawk Carpet Distribution, Inc., a Delaware corporation, plus (ii) the home center store accrual with respect to Dal‑Tile Distribution, Inc., a Delaware corporation, plus (iii) the marketing allowance and EDI accrual with respect to Unilin North America, LLC, a Delaware limited liability company, in each case as of such date of determination (or such other amounts as reasonably determined with the consent of all of the Lenders based on the results set forth in the most recent Review of any Originator).
Contractual Dilution Reserve means (A) on any date on which the Debt Rating of Xxxxxx is (i) lower than BB by S&P or (ii) lower than Ba2 by Xxxxx’x, an amount equal to the Rebate Program Liability as of such date and (B) at any other time, an amount equal to the product of (a) (x) if the average Days Sales Outstanding for the most recently ended Monthly Period and the two immediately preceding Monthly Periods is less than or equal to 75 days, two (2), (y) if the average Days Sales Outstanding for the most recently ended Monthly Period and the two immediately preceding Monthly Periods exceeds 75 days, three (3) or (z) such other greater amount as may be reasonably determined by the Administrative Agent and (b) the greater of (x) of the greater of (i) the amount of credits added to the Rebate Program Liability with respect to the Receivables during the most recently ended Monthly Period and (ii) the average of the amounts of credits added to the Rebate Program Liability with respect to the Receivables during the three most recently ended Monthly Periods, and (y) the greater of (i) the amount of credits actually paid or credited with respect to the Receivables under the Rebate Program during the most recently ended Monthly Period and (ii) the average of the amounts of credits actually paid or credited with respect to the Receivables under the Rebate Program during the three most recently ended Monthly Periods.
Contractual Dilution Reserve means at any time, 10% (or such other percentage as reasonably determined with the consent of all of the Lenders based on the results set forth in the most recent Review) of the Outstanding Balance of Receivables originated by Mohawk Distribution that are outstanding as of the last day of the period covered by the most recent Collection Period.
Contractual Dilution Reserve means, for any period of determination, the aggregate amount of balance sheet accruals, established in accordance with GAAP, reflecting the liability for Contractual Dilutions.
Contractual Dilution Reserve means the FOB Destination Reserve, the Instrument Reserve, the Cardinal Rebate Reserve and the Customer Rebate Reserve.
Contractual Dilution Reserve means, as of any date of determination, (i) during a Level 1 Ratings Period, an amount equal to the Dollar Equivalent of the sum of the highest amount of credits actually paid or credited with respect to the Receivables under the Rebate Program during the twelve
Contractual Dilution Reserve. The sum of (i) the Cash Discount Reserve, (ii) the Advertising Reserve and (iii) the Volume Incentive Discount Reserve. CP COSTS: For each day, the sum of (i) discount or interest accrued on Pooled Commercial Paper on such day, PLUS (ii) any and all accrued commissions in respect of placement agents and Commercial Paper dealers, and issuing and paying agent fees incurred, in respect of such Pooled Commercial Paper for such day, PLUS (iii) other costs associated with funding small or odd-lot amounts with respect to all receivable purchase or financing facilities which are funded by Pooled Commercial Paper for such day, MINUS (iv) any accrual of income net of expenses received on such day from investment of collections received under all receivable purchase or financing facilities funded substantially with Pooled Commercial Paper, MINUS (v) any payment received on such day net of expenses in respect of Broken Funding Costs related to the prepayment of any investment of Blue Ridge pursuant to the terms of any receivable purchase or financing facilities funded substantially with Pooled Commercial Paper. In addition to the foregoing costs, if the Seller shall request any Purchase during any period of time determined by the Administrative Agent in its sole discretion to result in incrementally higher CP Costs applicable to such Purchase, the principal associated with any such Purchase shall, during such period, be deemed to be funded by Blue Ridge in a special pool (which may include capital associated with other receivable purchase or financing facilities) for purposes of determining such additional CP Costs applicable only to such special pool and charged each day during such period against such principal.