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).
Purchased Receivable means a Receivable as to which payment of the Purchase Amount has been made by the Depositor pursuant to Section 2.4 of the Sale and Servicing Agreement or by the Servicer pursuant to Sections 3.7 or 9.1 of the Sale and Servicing Agreement.
Purchased Receivable means, for a Collection Period, a Receivable (a) purchased by the Servicer under Section 3.3 of the Sale and Servicing Agreement, (b) repurchased by the Depositor under Section 2.5 of the Sale and Servicing Agreement or (c) repurchased by Ford Credit under Section 3.4 of the Receivables Purchase Agreement, and for which, in each case, the purchase or repurchase is effective during the Collection Period and the Purchase Amount is included in Available Funds for the Payment Date following the related Payment Date.
Examples of Purchased Receivable in a sentence
After the sale, the Servicer will mark its receivables systems to indicate that the receivable is no longer a Receivable and may take any action necessary or advisable to transfer the Purchased Receivable, free from any Lien of the Depositor, the Issuer or the Indenture Trustee.
More Definitions of Purchased Receivable
Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer or CNHCA pursuant to Section 4.6 of the Sale and Servicing Agreement, by CNHCA pursuant to Section 6.2 of the Purchase Agreement, or by the Seller pursuant to Section 3.2 of the Sale and Servicing Agreement, or as of the first day of a Collection Period by CNHCA pursuant to Section 9.1(a) of the Sale and Servicing Agreement and Section 6.2 of the Purchase Agreement.
Purchased Receivable means a Receivable purchased (i) by or on behalf of the Servicer pursuant to Section 4.07 of the Sale and Servicing Agreement, (ii) by or on behalf of the Seller pursuant to Section 3.03 of the Sale and Servicing Agreement or Section 7.02 of the Receivables Purchase Agreement or (iii) by the Servicer pursuant to Section 9.01 of the Sale and Servicing Agreement pursuant the Servicer’s exercise of an optional purchase of all Receivables.
Purchased Receivable means any Receivable which is purchased by the Purchaser pursuant to Section 2.02.
Purchased Receivable means a Receivable and, if applicable, its related Equipment repurchased as of the close of business on the last day of a Collection Period by a Seller pursuant to the Sale Agreement and repurchased as of such time by the Purchaser pursuant to the Purchase and Sale Agreement.
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 and 4.7 of the Sale and Servicing Agreement or by LBAC pursuant to Section 3.4 of the Sale and Servicing Agreement.
Purchased Receivable means a Receivable purchased by the Servicer pursuant to Section 8.07 or repurchased by UAC pursuant to Section 7.02 not later than the respective dates required thereby.
Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer or CPS pursuant to Section 4.7 or Section 4.16, or repurchased by the Seller or CPS pursuant to Section 3.2, Section 3.4 or Section 11.1(a).