Receivable Clause Samples

Receivable. A retail installment sale contract or promissory note (and related security agreement) for a new or used automobile or light truck (and all accessories thereto) that is included in the Schedule of Receivables, and all rights and obligations under such a contract, but not including (i) any Liquidated Receivable (other than for purposes of calculating Noteholders' Distributable Amounts hereunder and for the purpose of determining the obligations pursuant to Section 2.6 and 3.7 to purchase Receivables), or (ii) any Purchased Receivable on or after the Accounting Date immediately preceding the Deposit Date on which payment of the Purchase Amount is made in connection therewith pursuant to Section 4.5.

Receivable. The definition of "Receivable" in Exhibit I to the Agreement is amended in its entirety as follows:

Receivable. Receivable means any Outstanding Accepted Receivable that has been purchased by the Company from the CRES Provider pursuant to this Agreement.

Receivable. (i) Purchaser has received true and complete copies of (a) the documentation specified on Schedule 2-A hereto in respect of the Accrued Receivable and (b) the additional documentation provided to Purchaser in the Skadden, Arps, Slate, M▇▇▇▇▇▇ & F▇▇▇ LLP (“Skadden”) Secure FTP Server (the “Data Room”), and such documentation in (a) and (b) constitutes all material supporting documentation in the possession of Seller with respect to the Accrued Receivable that has been requested by Purchaser in the due diligence request list sent by M▇▇▇▇▇, ▇▇▇▇▇ & B▇▇▇▇▇▇ LLP to Skadden in an email dated August 2, 2022, it being understood and agreed that P▇▇▇▇▇▇▇▇ has not received electronic PDE files and related documentation. (ii) The information in respect of the Accrued Receivable provided by Seller to Purchaser and specified on Schedule 2-B hereto is, taken as a whole, accurate in all material respects. (iii) The outstanding amount of the Accrued Receivable is $[*****]. (iv) For the period between January 1, 2022 and June 30, 2022, Seller has prepared and provided CMS with electronic PDE records based on processed claims in accordance with CMS requirements in all material respects and consistent with past practice in all material respects. (v) The outstanding amount of the Accrued Receivable (i) is based on all PDEs for the period between January 1, 2022 and June 30, 2022 that have been accepted by CMS as of July 6, 2022, (ii) complies with Statutory Accounting Principles in all material respects, and (iii) is subject to customary monthly adjustment as part of CMS ordinary course review. (A) Immediately preceding sale, transfer or assignment of the Accrued Receivable hereunder, Seller was the legal owner of the Receivable free and clear of any Lien, (B) the Receivable is an Eligible Receivable, and (C) the sale, transfer or assignment hereunder constitutes a valid sale, transfer and assignment to Purchaser of all of Seller’s right, title and interest in, to and under the Accrued Receivable and related Collections, free and clear of any Liens, it being understood by Purchaser that payment of the Receivable by Account Debtor is required to be paid to an account of Seller. Except as would not materially impair the Purchaser’s right to collect the Funded Amount, the Receivable is not subject to any counterclaim, defense, offset, write-off, recoupment, reduction, return, fine, penalty or other allowances resulting from the facts or circumstances described in the DOJ CID. S...

Receivable. A retail instalment sale contract for a Financed Vehicle that is included in the Schedule of Receivables and all rights and obligations thereunder.

Receivable. The first such delivery of amendments to the Schedule of Receivables shall include monthly amendments reporting account numbers appearing on the Schedule of Receivables with the new account numbers assigned to such Receivables during any prior Collection Period.

Receivable. In the event that the exclusion of an Ineligible Receivable from the calculation of the Transferor Ownership Interest would cause the Transferor Ownership Interest to be reduced below the Minimum Transferor Ownership Interest or would otherwise not be permitted by law, the Transferor shall concurrently make a deposit in the Principal Account (for allocation as a Principal Receivable) in immediately available funds prior to the Transfer Date related to such Monthly Period in which such event occurred in an amount equal to the amount by which the Transferor Ownership Interest would be reduced below the Minimum Transferor Ownership Interest. The portion of such deposit allocated to the Investor Certificates of each Series shall be distributed to the Investor Certificateholders of each Series in the manner specified in Article IV, if applicable, on the Distribution Date immediately following such Transfer Date. Upon the reassignment to the related Original Transferor or the Transferor, as applicable, of an Ineligible Receivable, the Trust shall automatically and without further action be deemed to transfer, assign and otherwise convey to the related Original Transferor or the Transferor, as applicable, without recourse, representation or warranty, all the right, title and interest of the Trust in and to such Ineligible Receivable, all monies due or to become due with respect to such Ineligible Receivable and all proceeds of such Ineligible Receivable. Such reassigned Ineligible Receivable shall be treated by the Trust as collected in full as of the date on which it was transferred. The Trustee shall execute such documents and instruments of transfer or assignment and take other actions as shall reasonably be requested by the related Original Transferor or the Transferor, as applicable, to evidence the conveyance of such Ineligible Receivable pursuant to this subsection 2.04(e)(ii). The obligations of the Original Transferors and the Transferor set forth in this subsection 2.04(e)(ii) shall constitute the sole remedy respecting any breach of the representations and warranties set forth in subsection 2.04(b) and 2.04(c) with respect to such Receivable available to Certificateholders or the Trustee on behalf of Certificateholders.

Receivable. As used in the Basic Documents (other than the Purchase Agreement) in the context of a transfer of a Receivable or the ownership of a Receivable, a Retail Note or the beneficial interest in a Retail Lease the record owner of which is the Titling Trust that is transferred to the Issuer pursuant to the Pooling Agreement and (b) as used in the Basic Documents in all other contexts, a Retail Lease or a Retail Note that is transferred to the Issuer pursuant to the Pooling Agreement.

Receivable. A retail installment contract (including any related promissory note and the related security agreement), and all rights and obligations under such contract, for a Financed Vehicle that is included in the Schedule of Receivables (except for Receivables that shall have become Purchased Receivables or Receivables that are replaced in accordance with the terms hereof).