Affiliate Deduction Amount definition
Affiliate Deduction Amount means, on any day, an amount equal to (A) except after the occurrence and during the continuation of a Level 2 Ratings Event, $0 or (B) after the occurrence and during the continuance of a Level 2 Ratings Event, upon the election of the Administrative Agent in its sole discretion, the aggregate Outstanding Balance of all Eligible Receivables the Obligor of which is an Approved Affiliate Obligor.