Average Net Receivables definition

Average Net Receivables is defined in Section 2.12.
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Average Net Receivables means, for any period, the sum of Aggregate Outstanding Indebtedness for each day during such period, divided by the number of days in such period.
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Average Net Receivables means, as of any date of determination, the sum of the Gap Average Net Receivables and the Other Credit Card Net Receivables. As used herein, “Gap Average Net Receivables” shall mean, as of any date of determination and with respect to any Program Year, or portion thereof, (a) the sum of (i) the Gap Average Fiscal Month Net Receivables for each of the fiscal months of such Program Year, or portion thereof, immediately preceding the date of determination, and (ii) the Gap Average Fiscal Month Net Receivables of the final month of the immediately preceding Program Year, (b) all divided by the total number of months for which the Gap Average Fiscal Month Net Receivables was added pursuant to subpart (a) hereof. As used herein, “Gap Average Fiscal Month Net Receivables” means, for any fiscal month, the aggregate Indebtedness for all Active Accounts determined as of the end of such fiscal month, [***]. As used herein, “Other Credit Card Net Receivables” shall mean the sum of the amounts calculated in the same manner as the Gap Average Net Receivables but determined for the other Credit Card Programs.
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Examples of Average Net Receivables in a sentence

  • As used herein, "Monthly Loss Rate" means for any Billing Period, an amount equal to the amount of the Indebtedness for Accounts first becoming Defaulted Accounts during such period less the amount of Net Recoveries received during such period all divided by the Average Net Receivables for such period.

  • Date after the end of the thirteenth (13th) Billing Period and continuing on each Settlement Date thereafter until the Termination Notice Date, and PROVIDED there exists no Default or Event of Default on any such date, Bank shall credit an amount equal to one-twelfth (1/12) of the product of the Average Net Receivables for the immediately preceding Billing Period and XXXXXXX percent (XXXX%), to a record maintained on the books of the Bank.


More Definitions of Average Net Receivables

Average Net Receivables means, for any Billing Period, the sum of the aggregate Indebtedness for all Accounts (other than Defaulted Accounts) for each day during such period divided by the number of days in such period.
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Average Net Receivables shall be the mean of the average of the beginning and ending receivable balances for each of the months included in the calculation and shall be calculated for the 12-month period immediately preceding the Closing Date.
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Related to Average Net Receivables

  • Net Receivables Pool Balance means, at any time: (a) the Outstanding Balance of Eligible Receivables then in the Receivables Pool minus (b) the Excess Concentration.

  • Net Receivables Balance means, at any time, the aggregate Outstanding Balance of all Eligible Receivables at such time reduced by the aggregate amount by which the Outstanding Balance of all Eligible Receivables of each Obligor and its Affiliates exceeds the Concentration Limit for such Obligor.

  • Subject Receivables means, for any Asset Representations Review, all Receivables outstanding and held by the Issuer that are more than 60 days delinquent as of the first day on which the Review Conditions are satisfied.

  • Eligible Receivables means and include with respect to each Borrower, each Receivable of such Borrower arising in the Ordinary Course of Business and which Agent, in its sole credit judgment, shall deem to be an Eligible Receivable, based on such considerations as Agent may from time to time deem appropriate. A Receivable shall not be deemed eligible unless such Receivable is subject to Agent’s first priority perfected security interest and no other Lien (other than Permitted Encumbrances), and is evidenced by an invoice or other documentary evidence satisfactory to Agent. In addition, no Receivable shall be an Eligible Receivable if:

  • 60-Day Delinquent Receivables means, as of any date of determination, all Receivables (other than Repurchased Receivables and Defaulted Receivables) that are sixty (60) or more days delinquent as of such date (or, if such date is not the last day of a Collection Period, as of the last day of the Collection Period immediately preceding such date), as determined in accordance with the Servicer’s Customary Servicing Practices.