Business Day Received definition

Business Day Received shall have the meaning specified in subsection 2.3(e) of the Servicing Agreement.

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Business Day Received means, except as otherwise set forth in the applicable Supplement, with respect to funds deposited in a Collection Account, such day of deposit.

Examples of Business Day Received in a sentence

As used herein, the term "Business Day Received" shall mean (i) if funds are otherwise deposited in the Collection Account by 1:00 p.m. (New York City time), such day of deposit and (ii) if funds are deposited in the Collection Account after 1:00 p.m. (New York City time), the Business Day next following such day of deposit.
The Buyer shall treat all immediately available funds received by it or deposited in the Application Account as "Principal Collections" attributable to its Undivided Interest for purposes of this Agreement and shall treat all immediately available funds received by it or deposited in the Finance Charge Account as "Finance Charge Collections" and all such funds shall be treated as having been received as of the Business Day Received (as defined in the immediately succeeding sentence).
As used herein, the term "Business Day Received" shall mean (i) if funds are deposited in the Collection Account by 11:00 a.m., Chicago time, such day of deposit and (ii) if funds are deposited in the Collection Account after 11:00 a.m., Chicago time, the Business Day next following such day of deposit.
As used herein, the term "Business Day Received" shall mean (i) if funds are deposited in such Application Account or Finance Charge Account by 12:00 noon (Chicago time), such day of deposit and (ii) if funds are deposited in such Application Account or Finance Charge Account after 12:00 noon (Chicago time), the Business Day next following such day of deposit.

More Definitions of Business Day Received

Business Day Received means (i) if funds are deposited in the Collection Account by 3:00 p.m., New York City time, such day of deposit and (ii) if funds are deposited in the Collection Account after 3:00 p.m., New York City time, the Business Day next following such day of deposit.

Business Day Received means, except as otherwise set forth in the applicable Supplement, (i) with respect to funds deposited in the Collection Account (a) if funds are deposited in the Collection Account by 1:30 p.m., New York City time, such day of deposit and (b) if funds are deposited in the Collection Account after 1:30 p.m., New York City time, the Business Day immediately following such day of deposit and (ii) with respect to funds deposited in any Lockbox Account (a) if funds are deposited in such Lockbox Account by the cut-off time established by the related Lockbox Processor for same-day processing of deposits, such day of deposit and (b) if funds are deposited in such Lockbox Account after such cut-off time, the Business Day immediately following such day of deposit.

Business Day Received as defined in subsection 12.1(b)(vi) of the Receivables Transfer Agreement.

Business Day Received shall have the meaning assigned in subsection 3.1(d).

Business Day Received means (i) if funds are deposited in such Application Account or Finance Charge Account by 12:00 noon (Chicago time), such day of deposit and (ii) if funds are deposited in such Application Account or Finance Charge Account after 12:00 noon (Chicago time), the Business Day next following such day of deposit.