Deferred Receivable definition
Deferred Receivable means, at any time, that portion of the amount owing under any Account in respect of which portion, under the terms of credit which gave rise to such portion, no amount can be billed to the Account until a day that is after the expiry of the related deferral period, provided that from and after the day on which the amount of such portion is billed to the Account, such portion shall no longer be a Deferred Receivable and shall thereupon be a Receivable for the purposes of calculating the Pool Balance;