Interest Receivables definition

Interest Receivables means, in connection with an Account:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Interest Receivables means, without duplication:

Interest Receivables means, with respect to any Account, all amounts -------------------- billed to the related Dealer in respect of interest and all other non-principal charges.

Examples of Interest Receivables in a sentence

• No Advances will be made with respect to the Principal Balance of Simple Interest Receivables.

• In addition, in the event that a Simple Interest Receivable becomes a Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of Outstanding Advances in respect of Simple Interest Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such Outstanding Advances.

• If the calculation in clause (ii) above in respect of a Simple Interest Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any Outstanding Advances in respect of Simple Interest Receivables.

• If the amount of such payment remaining after the applications described in the two preceding sentences (i) in the case of Precomputed Receivables equals (together with any Deferred Prepayment) the unpaid principal balance of such Receivable, it shall be applied to prepay the principal balance of such Receivable, or (ii) in the case of Simple Interest Receivables, it shall be applied to prepay the principal balance of such Receivable.

• The number of Scheduled Payments, in the case of Actuarial Receivables, and the number of scheduled due dates, in the case of Simple Interest Receivables, shall not have been extended on or before the Cutoff Date on any Receivable.

• The Servicer shall not make any advance in respect of principal of Simple Interest Receivables.

• Next, any excess shall be applied, in the case of Precomputed Receivables, to the Scheduled Payment and, in the case of Simple Interest Receivables, to interest and principal in accordance with the Simple Interest Method.

• Such deposits to be treated as Collections will be allocated as Interest Receivables or Principal Receivables as provided in the Agreement.

• The number of Scheduled Payments, in the case of Precomputed Receivables, and the number of scheduled due dates, in the case of Simple Interest Receivables, shall not have been extended on any Receivable on or before the Cutoff Date.

• Next, any excess shall be applied, in the case of Actuarial Receivables, to the Scheduled Payment and, shall be applied in the case of Simple Interest Receivables, to interest and principal in accordance with the Simple Interest Method.

More Definitions of Interest Receivables

Interest Receivables means, in respect of a relevant period, the aggregate amount (calculated on a consolidated basis) of interest (discounts inclusive) received and/or accrued during that period in respect of any receivable, including for this purpose of this definition, any acceptance commission received or payable in respect of any bills of exchange or other debt instruments received by the Borrower and its Subsidiaries.

Interest Receivables means, for any date of determination, the aggregate of all interest charges (less interest reversals from Charged-Off Assets), fee charges (less fee reversals from Charged-Off Assets), the insurance commission portion of insurance premiums and all other ancillary revenue and the aggregate amount of Discount Option Receivables. “Investment” means (i) any direct or indirect purchase or other acquisition by the Borrower of, or of a beneficial interest in, any of the Securities of any other Person; (ii) any direct or indirect redemption, retirement, purchase or other acquisition for value, from any Person, of any Capital Stock of such Person; and (iii) any direct or indirect loan, advance (other than advances to employees for moving, entertainment and travel expenses, drawing accounts and similar expenditures in the ordinary course of business) or capital contributions by the Borrower to any other Person, including all indebtedness and accounts receivable from that other Person that are not current assets or did not arise from sales to that other Person in the ordinary course of business. The amount of any Investment shall be the original cost of such Investment plus the cost of all additions thereto, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect to such Investment. “Joint Venture” means a joint venture, partnership or other similar arrangement, whether in corporate, partnership or other legal form; provided, in no event shall any corporate Subsidiary of any Person be considered to be a Joint Venture to which such Person is a party.

Interest Receivables means, in connection with an Account, all amounts billed and payable by the related Dealer as Receivables in such Account pursuant to the related Floorplan Financing Agreement in respect of (i) interest and (ii) other non-principal and non-interest charges, including flat charges established by NMAC from time to time to cover miscellaneous costs.

Interest Receivables means, with respect to each Calendar Year and until the Annual Threshold has been met for such Calendar Year, amounts payable by way of interest pursuant to Section 8.8 of the License Agreement on late payments of (A) Royalties (after giving effect to Permitted Royalty Deductions) attributable to sales during such Calendar Year, (B) Audit Payments attributable to Royalties (after giving effect to all Permitted Royalty Reductions) that were owed but unpaid for such Calendar Year, (C) Damages Payments attributable to lost sales during such Calendar Year, and (D) Other Receivables Payments in respect of such Calendar Year.