Ineligible Receivable definition

Ineligible Receivable shall have the meaning specified in subsection 2.04(d)(iii).

Ineligible Receivable means any Receivable (or portion thereof) which fails to satisfy all of the requirements of an “Eligible Receivable” set forth in the definition thereof.

Ineligible Receivable is any accounts receivable:

Examples of Ineligible Receivable in a sentence

• Such reassigned Ineligible Receivable shall be treated by the Trust as collected in full as of the date on which it was transferred.

• On and after the date of such removal, each Ineligible Receivable shall be deducted from the aggregate amount of Principal Receivables used in the calculation of any Investor Percentage, the Transferor Percentage or the Transferor Interest.

• Borrower will repay each Advance on the earliest of: (a) payment of the Financed Receivable in respect which the Advance was made, (b) the Financed Receivable becomes an Ineligible Receivable, (c) when any Adjustment is made to the Financed Receivable (but only to the extent of the Adjustment if the Financed Receivable is not otherwise an Ineligible Receivable, or (d) the last day of the Facility Period (including any early termination).

• On and after the date of such removal, the principal balance of each Ineligible Receivable and the Invested Amount of each Ineligible Collateral Certificate shall be deducted from the Pool Balance and the Transferor Amount.

• Any amount deposited into the Collection Account in connection with the reassignment of an Ineligible Receivable shall be considered a Transfer Deposit Amount and shall be applied in accordance with Article IV and the terms of each Supplement.

More Definitions of Ineligible Receivable

Ineligible Receivable is defined in Section 6.1(c).

Ineligible Receivable means any Receivable that is not an Eligible Receivable.

Ineligible Receivable means, as of any date of determination, each Receivable that is not an Eligible Receivable on such date.

Ineligible Receivable means any Receivable other than an Eligible Receivable.

Ineligible Receivable shall have the meaning specified in Section 2.07(b).

Ineligible Receivable means a Receivable on the books and records of an Originator in one of the following financial classes from the list of all financial classes categorized by the Originators set forth on the schedule of financial classes provided to the Administrative Agent on the Closing Date: (i) Early-Out Blue Cross, (ii) Early-Out HMO/PPO, (iii) Early-Out Other Insurance, (iv) Champus, (v) Workers Comp., (vi) Other Governmental, (vii) Schip Standards, (viii) Schip Nonstandard, (ix) Industrial, (x) Auto Insurance Liability, or (xi) Other Non-Government.

Ineligible Receivable means any Receivable that arises in an Eligible Account, was not an Eligible Receivable at the time of its transfer to the Trust and was transferred to the Trust in accordance with Section 2.09.