Credit Card Receivables Component definition

Credit Card Receivables Component means the face amount of Eligible Credit Card Receivables multiplied by the Credit Card Advance Rate.
Sample 1Sample 2Sample 3
Credit Card Receivables Component means (a) for purposes of determining the ABL Borrowing Base, the face amount of Eligible Credit Card Receivables multiplied by 90.0% and (b) for purposes of determining the FILO Borrowing Base, the face amount of Eligible Credit Card Receivables multiplied by 5.0%.
Sample 1Sample 2Sample 3
Credit Card Receivables Component means the face amount of Eligible Credit Card Receivables multiplied by 90%.
Sample 1Sample 2

More Definitions of Credit Card Receivables Component

Credit Card Receivables Component means the face amount of Eligible Credit Card Receivables multiplied by the 85%.
Sample 1

Related to Credit Card Receivables Component

  • Credit Card Receivables means each “payment intangible” (as defined in the UCC) together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business.

  • Eligible Credit Card Receivables means at the time of any determination thereof, each Credit Card Receivable that satisfies the following criteria at the time of creation and continues to satisfy such criteria at the time of such determination: such Credit Card Receivable (i) has been earned by performance and represents the bona fide amounts due to a Loan Party from a Credit Card Issuer or Credit Card Processor, and in each case is originated in the ordinary course of business of such Loan Party, and (ii) in each case is not ineligible for inclusion in the calculation of the Borrowing Base, pursuant to any of clauses (a) through (g) below. Without limiting the foregoing, to qualify as an Eligible Credit Card Receivable, an Account shall indicate no Person other than a Loan Party as payee or remittance party. In determining the amount to be so included, the face amount of an Account shall be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price adjustments, finance charges or other allowances (including any amount that a Loan Party may be obligated to rebate to a customer, a Credit Card Issuer or Credit Card Processor pursuant to the terms of any agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in respect of such Account but not yet applied by the Loan Parties to reduce the amount of such Credit Card Receivable. Except as otherwise agreed by the Agent, any Credit Card Receivable included within any of the following categories shall not constitute an Eligible Credit Card Receivable:

  • Receivables Reserves mean such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent’s Permitted Discretion with respect to the determination of the collectability in the ordinary course of Eligible Accounts Receivables, including, without limitation, reserves for dilution.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.