Collected Interest definition

Collected Interest on a Receivable, as of the last day of a Collection Period, means the portion of all payments received by the Servicer allocable to interest relating to such Collection Period.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Collected Interest means for any Collection Period the sum of (i) the portion of all payments made by or on behalf of the Obligors of Simple Interest Receivables in respect of which any payment is actually received during such Collection Period and (ii) all Liquidation Proceeds and Purchase Amounts with respect to such Simple Interest Receivables, in each case that are allocable to interest in accordance with the Servicer's customary servicing procedures.

Collected Interest. With respect to any Distribution Date, the sum of the following amounts with respect to the related Monthly Period, in each case computed in accordance with the actuarial method: (i) that portion of all collections on Receivables (other than Liquidating Receivables) allocable to interest or Prepayment Surplus, (ii) that portion of all Liquidation Proceeds allocable to interest in accordance with the Servicer's customary servicing procedures, (iii) that portion of all Monthly Advances allocable to interest and (iv) that portion of all Warranty Payments, Administrative Purchase Payments or the Optional Purchase Proceeds allocable to accrued interest or Prepayment Surplus; less an amount equal to the sum of (x) all amounts received on any Receivable (other than a Liquidating Receivable) to the extent of the aggregate Outstanding Monthly Advances of interest with respect to such Receivable and (y) Liquidation Proceeds with respect to a particular Receivable to the extent of the Outstanding Monthly Advances of interest thereon.

Examples of Collected Interest in a sentence

Any income or other gain from such Eligible Investments in the Collection Account shall be retained in the Collection Account and shall be treated as a part of Collected Interest for the Monthly Period related to such Settlement Date.
The Servicer shall be entitled to reimbursement for unreimbursed Advances, without interest, with respect to a Receivable from subsequent Collected Interest or Collected Principal, as the case may be, allocable with respect to such Receivable, Liquidation Proceeds of or the Repurchase Amount of such Receivable or as otherwise provided in Section 14.07, except as otherwise provided in Sections 13.02 and 13.07.
Any provision herein to the contrary notwithstanding, for so long as (i) NFC is the Servicer hereunder and (ii) no Servicer Default has occurred and is continuing, the deposits into the Collection Account pursuant to Section 2.1(a) may be made net of the Total Servicing Fee to be distributed to the Servicer pursuant to Sections 2.1(c)(iv) (so long as Collected Interest not yet distributed is sufficient therefor).
The Servicer shall be entitled to reimbursement for unreimbursed Advances, without interest, with respect to a Receivable from subsequent Collected Interest allocable with respect to such Receivable, Liquidation Proceeds of or the Repurchase Amount of such Receivable or as otherwise provided in Section 14.07, except as otherwise provided in Sections 13.02 and 13.07.
On each day during each Collection Period, the Master Servicer shall collect the Purchasers' Share of Collected Principal and the Purchaser's Share of Collected Interest received or deemed received on such day and shall hold such funds in trust for the benefit of the Purchasers and shall collect all other Collected Principal and Collected Interest so received or deemed received and shall hold such funds in trust for the benefit of the Seller.

More Definitions of Collected Interest

Collected Interest means all payments or part payments received from a Debtor on account of interest that has accrued on a Referred Debt;

Collected Interest means, with respect to each Collection Period, the portion of all Available Funds received by the Servicer on or in respect of the Receivables during such Collection Period allocable to interest.

Collected Interest means, with respect to any Settlement Date, the sum of the following amounts with respect to the related Monthly Period, in each case computed in accordance with the actuarial method: (i) that portion of all collections on Receivables (other than Liquidating Receivables) allocable to interest or Prepayment Surplus, (ii) that portion of all Liquidation Proceeds allocable to interest in accordance with the Servicer’s customary servicing procedures, (iii) that portion of all Monthly Advances allocable to interest, (iv) that portion of all Warranty Payments, Administrative Purchase Payments or the Optional Purchase Proceeds allocable to accrued interest or Prepayment Surplus, and (v) any Investment Earnings funds invested in Eligible Investments in the Collection Account and Reserve Account; minus an amount equal to the sum of (x) all amounts received on any Receivable (other than a Liquidating Receivable) to the extent of the aggregate Outstanding Monthly Advances of interest with respect to such Receivable and (y) Liquidation Proceeds with respect to a particular Receivable to the extent of the Outstanding Monthly Advances of interest thereon.

Collected Interest means all Collections other than Collected Principal and Miscellaneous Payments.

Collected Interest means, with respect to any Settlement Date, the sum of the following amounts with respect to the related Monthly Period, in each case computed in accordance with the actuarial method: (i) that portion of all collections on Receivables (other than Liquidating Receivables) allocable to interest or Prepayment Surplus, (ii) that portion of all Liquidation Proceeds allocable to interest in accordance with the Servicer*s Customary Servicing Procedures, (iii) that portion of all Monthly Advances allocable to interest, (iv) that portion of all Warranty Payments, Administrative Purchase Payments or the Optional Purchase Proceeds allocable to accrued interest or Prepayment Surplus, (v) all amounts received on the related Cap Payment Date pursuant to any Satisfactory Cap (as such terms are defined in the Hedging Letter) purchased as provided in the Hedging Letter, and (vi) any Investment Earnings funds invested in Eligible Investments in the Collection Account and Reserve Account; minus an amount equal to the sum of (x) all amounts received on any Receivable (other than a Liquidating Receivable) to the extent of the aggregate Outstanding Monthly Advances of interest with respect to such Receivable and (y) Liquidation Proceeds with respect to a particular Receivable to the extent of the Outstanding Monthly Advances of interest thereon.

Collected Interest means, with respect to each Collection Period, the sum of (i) the earnings received by the Trustee during the related Collection Period from investment of the

Collected Interest means, with respect to any Settlement Date, the sum of the following amounts with respect to the related Monthly Period, in each case computed in accordance with the actuarial method: (i) that portion of all collections on Receivables (other than Liquidating Receivables) allocable to interest or Prepayment Surplus, (ii) that portion of all Liquidation Proceeds allocable to interest in accordance with the Servicer's customary servicing procedures, (iii) that portion of all Monthly Advances allocable to interest, (iv) Interest Rate Cap Payments and (v) that portion of all Warranty Payments, Administrative Purchase Payments or the Optional Purchase Proceeds allocable to accrued interest or Prepayment Surplus; less an amount equal to the sum of (x) all amounts received on any Receivable (other than a Liquidating Receivable) to the extent of the aggregate Outstanding Monthly Advances of interest with respect to such Receivable and (y) Liquidation Proceeds with respect to a particular Receivable to the extent of the Outstanding Monthly Advances of interest thereon.