Ineligible Asset Amount definition
Ineligible Asset Amount means, as of any date of determination, an amount equal to the sum (without duplication) of the following amounts to the extent that such amounts are included in clauses (i) through (x) of the definition of Aggregate Asset Amount for such date: (a) the aggregate amount of all Manufacturer Receivables (other than Excluded Payments) as of such date payable to HVF or to the Intermediary pursuant to the Master Exchange Agreement, in each case, by a Manufacturer with respect to which a Manufacturer Event of Default specified in clause (i) or (ii) of the definition thereof has occurred with respect to HVF Vehicles that were Eligible Vehicles when turned in to and accepted by such Manufacturer or delivered and accepted for Auction, plus (b) the aggregate amount of all Manufacturer Receivables (other than Excluded Payments) as of such date payable to HVF or to the Intermediary pursuant to the Master Exchange Agreement, in each case, by a Manufacturer which is an Eligible Program Manufacturer with respect to HVF Vehicles that were Eligible Vehicles when turned in to and accepted by such Manufacturer or delivered and accepted for Auction which amounts are unpaid more than one hundred (100) days past the applicable Due Date, plus (c) the aggregate of all amounts specified in clause (iv) of the definition of “Aggregate Asset Amount” which are unpaid more than forty-five (45) days past the applicable Disposition Date, plus (d) the aggregate of all amounts specified in clause (v) of the definition of “Aggregate Asset Amount” which are unpaid sixty (60) days or more past the applicable Disposition Date, plus (e) the aggregate of all amounts specified in clauses (vi), (vii) and (x) of the definition of “Aggregate Asset Amount” which are past due as of such date and in respect of which any grace period provided for in the HVF Lease for the making of such payments has expired, plus (f) the aggregate of all amounts specified in clause (viii) of the definition of “Aggregate Asset Amount” which are unpaid more than five Business Days past the date on which the related Rejected Vehicle was rejected by the Lessee pursuant to Section 1.05(b) of the Purchase Agreement, plus (g) the aggregate of all amounts specified in clause (ix) of the definition of “Aggregate Asset Amount” which are payable to HVF or to the Intermediary pursuant to the Master Exchange Agreement, in each case, by a Manufacturer which was an Eligible Program Manufacturer with respect to which a Manufacturer Event...
Ineligible Asset Amount shall, with respect to any applicable Financing Source, have the meaning specified in the Financing Documents of such Financing Source.
Ineligible Asset Amount means, as of any date of determination, an amount equal to the sum (without duplication) of the following amounts to the extent that such amounts are included in clauses (i) through (iv) of the definition of Aggregate Asset Amount for such date: (a) the aggregate amount of all Manufacturer Receivables as of such date payable to HVIF by a Manufacturer with respect to which a Manufacturer Event of Default specified in clause (i) or (ii) of the definition thereof is continuing, plus (b) the aggregate amount of all Manufacturer Receivables as of such date payable to HVIF by a Manufacturer which are unpaid more than sixty (60) days past the applicable Due Date, plus (c) the aggregate amount of Ineligible Incentive Rebate Receivables as of such date.
More Definitions of Ineligible Asset Amount
Ineligible Asset Amount means, as of any date of determination, an amount equal to the sum (without duplication) of (a) the aggregate of all amounts (other than Excluded Payments and payments receivable in respect of Exchanged Vehicles) receivable as of such date by NFLP or National under and in accordance with a Manufacturer Program (with respect to Financed Vehicles or Acquired Vehicles) from a Manufacturer with respect to which a Manufacturer Event of Default has occurred, plus (b) the aggregate of all amounts specified in clause (ii) of the definition of "Aggregate Asset Amount" which are Past Due Amounts with respect to Financed Vehicles as of such date, plus (c) the aggregate of all amounts specified in clause (iii) of the definition of "Aggregate Asset Amount" which remain unpaid more than 90 days after the date such amounts became payable, plus (d) the aggregate of all amounts specified in clause (iv) of the definition of "Aggregate Asset Amount" which are past due as of such date.
Ineligible Asset Amount means, as of any date of determination, an amount equal to the sum (without duplication) of the following amounts to the extent that such amounts are included in clauses (i) through (iv) of the definition of Aggregate Asset Amount for such date: (a) the aggregate amount of all Manufacturer Receivables as of such date payable to HVF III by a Manufacturer with respect to which a Manufacturer Event of Default specified in clause (i) or (ii) of the definition thereof is continuing, plus (b) the aggregate amount of Ineligible Incentive Receivables as of such date, plus (c) the aggregate amount of Ineligible Sale Receivables as of such date, plus (d) the aggregate amount of Incentive Receivables (if any) in which the Trustee does not have a first priority perfected security interest.
Ineligible Asset Amount means, as of any date of determination, the aggregate of all amounts specified in clause (ii) of the definition of “Aggregate Asset Amount” which are past due as of such date after giving effect to any grace period provided for in the ZVF Lease for the making of such payments, but solely to the extent that such amounts are included in the definition of “Aggregate Asset Amount” as of such date.