Receivables Pool Sample Clauses

The Receivables Pool clause defines a collection of accounts receivable that are grouped together for the purposes of a financing arrangement or securitization. This clause typically specifies which receivables are included in the pool, such as those meeting certain eligibility criteria, and outlines how new receivables may be added or ineligible ones removed over time. Its core function is to clearly identify the assets that serve as collateral or are being sold, ensuring both parties understand the scope of the transaction and reducing the risk of disputes over which receivables are covered.
Receivables Pool. The inclusion of any Receivable in the Receivables Pool after the Closing Date will not (a) reduce the weighted average Contract Rate of the Receivables included in the Receivables Pool to less than 16.5%, (b) increase the weighted average remaining term to maturity of the Receivables included in the Receivables Pool to greater than 63 months, (c) in the case of Receivables originated by COAF, increase the average Loan to Value Ratio of Receivables included in the Receivables Pool as of a Funding Date to greater than 115%, (d) cause the aggregate Receivable Balances of all Referral Receivables to exceed 5% of the Aggregate Receivable Balance, or (e) in the case of the inclusion of a Subsequent Receivable in the Receivables Pool, result in a material reduction in the overall credit quality of the Receivables Pool.
View SourceView Similar (3)

Related to Receivables Pool

  • Eligible Receivables Each Receivable included as an Eligible Receivable in the calculation of the Net Receivables Pool Balance as of any date is an Eligible Receivable as of such date.

  • Receivables Purchase Price On the Closing Date, the Purchaser shall deliver to the Seller the Receivables Purchase Price, as provided in Section 2.1(b).

  • Receivables (a) No amount payable to such Grantor under or in connection with any Receivable is evidenced by any Instrument or Chattel Paper which has not been delivered to the Administrative Agent. (b) None of the obligors on any Receivables is a Governmental Authority. (c) The amounts represented by such Grantor to the Lenders from time to time as owing to such Grantor in respect of the Receivables will at such times be accurate.

  • Net Receivables Balance Seller has determined that, immediately after giving effect to each purchase hereunder, the Net Receivables Balance is at least equal to the sum of (i) the Aggregate Capital, plus (ii) the Aggregate Reserves.

  • Receivables in Force No Receivable shall have been satisfied, subordinated or rescinded, nor shall any Financed Vehicle have been released in whole or in part from the lien granted by the related Receivable.