Deemed Collections; Application of Payments. (a) If on any day a Receivable becomes a Diluted Receivable, the Transferor shall be deemed to have received on such day a Collection of such Receivable in the amount of such reduction or cancellation, and the Transferor shall pay to the Collection Agent an amount equal to such reduction or cancellation. Any such amount shall be applied by the Collection Agent as a Collection in accordance with Section 2.05 or 2.06 hereof, as applicable. The Net Investment shall be reduced by the amount of such payment actually received by the Administrative Agent.
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Samples: Receivables Transfer Agreement (Metaldyne Corp), Receivables Transfer Agreement (Mascotech Inc)
Deemed Collections; Application of Payments. (a) If on any day a Receivable becomes a Diluted Receivable, the Transferor shall be deemed to have received on such day a Collection of such Receivable in the amount of such the applicable reduction or cancellation, and the Transferor shall pay to the Collection Agent an amount equal to such reduction or cancellation. Any such amount shall be applied by the Collection Agent as a Collection in accordance with Section 2.05 or 2.06 hereof, as applicable. The Net Investment shall be reduced by the amount of such payment actually received by the Administrative Agent.
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Samples: Receivables Transfer Agreement (Tyson Foods Inc), Receivables Transfer Agreement (Tyson Foods Inc)
Deemed Collections; Application of Payments. (a) If on any day a Receivable becomes a Diluted ReceivableReceivable or is otherwise reduced as provided in Section 6.2 of the Receivables Purchase Agreement, the Transferor shall be deemed to have received on such day a Collection of such Receivable in the amount of such the applicable reduction or cancellation, and the Transferor shall pay to the Collection Administrative Agent an amount equal to such reduction or cancellation. Any such amount shall be applied by the Collection Agent treated as a Collection of a Receivable in accordance with Section 2.05 or 2.06 hereof, as applicable. The Net Investment shall be reduced by the amount provisions of such payment actually received by the Administrative AgentTransaction Documents.
Appears in 2 contracts
Samples: Receivables Transfer Agreement (Collins & Aikman Corp), Receivables Transfer Agreement (Collins & Aikman Corp)
Deemed Collections; Application of Payments. (a) If ------------------------------------------- on any day a Receivable becomes a Diluted Receivable, the Transferor shall be deemed to have received on such day a Collection of such Receivable in the amount of such reduction or cancellation, and the Transferor shall pay to the Collection Agent an amount equal to such reduction or cancellation. Any such amount shall be applied by the Collection Agent as a Collection in accordance with Section 2.05 2.5 or 2.06 2.6 hereof, as applicable. The Net Investment shall be reduced by the amount of such payment actually received by the Administrative Funding Agent.
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Samples: Medpartners Inc
Deemed Collections; Application of Payments. (a) If on any day a Receivable becomes a Diluted Receivable, the Transferor shall be deemed to have received on such day a Collection of such Receivable in the amount of such reduction or cancellation, and the Transferor shall pay to the Collection Agent an amount equal to such reduction or cancellation. Any such amount shall be applied by the Collection Agent as a Collection in accordance with Section 2.05 2.5 or 2.06 2.6 hereof, as applicable. The Net Investment shall be reduced by the amount of such payment actually received by the Administrative AgentGroup Agents.
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