Initial Receivables definition

Initial Receivables means any Receivable conveyed to the Trust on the Closing Date.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Initial Receivables means the Receivables transferred to the Trust on the Closing Date as set forth on the Schedule of Receivables attached to the Initial SSA Assignment.

Initial Receivables means the Receivables listed on the Schedule of Initial Receivables attached hereto.

Examples of Initial Receivables in a sentence

• The foregoing sale does not constitute and is not intended to result in any assumption by WOAR of any obligation of the undersigned to the obligors, insurers, dealers or any other person in connection with the Initial Receivables, any insurance policies or any agreement or instrument relating to any of them.

• It is the intention of the Depositor and the Issuing Entity that the assignment and transfer contemplated herein constitute (and shall be construed and treated for all purposes, other than for tax purposes, as) a true and complete sale of the Initial Receivables and the other property of the Depositor specified in Section 2.01 hereof, conveying good title thereto free and clear of any liens and encumbrances, from the Depositor to the Issuing Entity.

• The representations speak as of the execution and delivery of this Agreement and as of the Closing Date, in the case of Initial Receivables, and as of the applicable Subsequent Transfer Date, in the case of Subsequent Receivables, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trustee pursuant to the Indenture.

• The representations speak as of the execution and delivery of this Agreement and as of the Closing Date, in the case of the Initial Receivables, and as of the applicable Subsequent Transfer Date, in the case of the Subsequent Receivables, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trustee pursuant to the Indenture.

• Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Closing Date in the case of the Initial Receivables, and as of the related Subsequent Transfer Date in case of the Subsequent Receivables, but shall survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge thereof to the Trustee pursuant to the Indenture.

More Definitions of Initial Receivables

Initial Receivables. As defined in Section 2(a)(i).

Initial Receivables means the Receivables that become a part of the Collateral in connection with the Initial Loan.

Initial Receivables means the Receivables transferred by the Seller to the Issuer on the Closing Date.

Initial Receivables. Any retail instalment sale contract or direct purchase money loan for a Financed Vehicle that is included in the Schedule of Initial Receivables attached to the First Step Initial Receivables Assignment and all rights and obligations thereunder.

Initial Receivables means the Receivables listed on the Schedule of Initial Receivables attached hereto as Schedule A.

Initial Receivables. The Receivables listed on the Schedule of Initial Receivables on the Closing Date.

Initial Receivables means the Receivables purchased by the Issuer from the Seller on 27 March 2023 in accordance with the Receivables Purchase Agreement. "Initial Receivables Purchase Price" shall be GBP 1,107,304,422.46 (equal to the Aggregate Discounted Receivables Balance of the Purchased Receivables as of the Initial Cut-Off Date) less (i) an amount of GBP 66,584,517.46 for overcollateralisation purposes and less (ii) the Initial Cash Collateral Amount.