Liquidating Receivable definition

Liquidating Receivable. A Receivable (i) as to which the Servicer (a) has reasonably determined, in accordance with its customary servicing procedures, that eventual payment of amounts owing on such Receivable is unlikely, or (b) has repossessed the Financed Vehicle or all Financed Vehicles securing the Receivable or (ii) as to which any related Scheduled Payment is at least 210 days overdue.

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Liquidating Receivable means a Receivable as to which the Servicer (i) has reasonably determined, in accordance with its customary servicing procedures, that eventual payment of amounts owing on such Receivable is unlikely, or (ii) has repossessed and disposed of the Financed Vehicle.

Liquidating Receivable means an Issuer Receivable (i) as to which the Servicer has reasonably determined in accordance with its customary servicing procedures, that eventual payment of amounts owing on such Receivable is unlikely, (ii) as to which the Financed Vehicle or Financed Vehicles relating to such Receivable have been repossessed and sold or repossessed and held for more than ninety days or (iii) as to which any related Scheduled Payment is at least 210 days overdue (excluding any Receivable as to which the Financed Vehicle or Financed Vehicles relating thereto have been repossessed).

Examples of Liquidating Receivable in a sentence

• The Servicer shall be entitled to receive Liquidation Expenses with respect to each Liquidating Receivable at such time as the Receivable becomes a Liquidating Receivable (or as may otherwise be provided in the Pooling Agreement and the Further Transfer Agreements).

• The Servicer shall be entitled to receive Liquidation Expenses with respect to each Liquidating Receivable at such time as the Receivable becomes a Liquidating Receivable (or as may otherwise be provided in the Further Transfer and Servicing Agreements).

• The Servicer shall be entitled to receive Liquidation Expenses with respect to each Liquidating Receivable at such time as the Receivable becomes a Liquidating Receivable.

• Liquidating Receivable: A Receivable as to which the Servicer (A)(i) has reasonably determined, in accordance with its customary servicing procedures, that eventual payment of amounts owing on such Receivable is unlikely or (ii) has repossessed and disposed of the Financed Vehicle and (B) has charged off.

• In addition to the characteristics set forth in Section 4.01(a)(i) above, each Additional Receivable as of the related Subsequent Cutoff Date, was not considered past due, that is, the payments due on that Additional Receivable in excess of $25 were not more than thirty (30) days delinquent, and such Additional Receivable was not a Liquidating Receivable.

• The Servicer shall be entitled to receive Liquidation Expenses with respect to each Liquidating Receivable at such time as the Receivable becomes a Liquidating Receivable in accordance with Section 8.2(b)(i) of the Indenture.

• The Servicer is hereby authorized to commence in the name of the Owner or, to the extent necessary, in its own name, a legal proceeding to enforce a Liquidating Receivable as contemplated by Section 2.04, and to commence or participate in any legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable (including a Liquidating Receivable).

• A Receivable (i) with respect to which payment of a required payment amount within $25 has not been received by the Servicer by the related payment due date as of the end of the related Monthly Period and (ii) that is not a Liquidating Receivable.

• Liquidating Receivable: A Receivable as to which the Servicer (i) has reasonably determined, in accordance with its customary servicing procedures, that eventual payment of amounts owing on such Receivable is unlikely, or (ii) has repossessed and disposed of the Financed Vehicle.

• Liquidating Receivable: A Receivable as to which the Servicer (A)(i) has reasonably determined, in accordance with its customary servicing procedures, that eventual payment of amounts owing on such Receivable is unlikely, or (ii) has repossessed and disposed of the Financed Vehicle and (B) has charged off.

More Definitions of Liquidating Receivable

Liquidating Receivable means a Receivable (i) as to which the ---------------------- Servicer

Liquidating Receivable means, with respect to any Collection Period, ---------------------- a Receivable (other than a Purchased Receivable) which the Servicer, on behalf of the Trust, has determined to charge off during such Collection Period in accordance with its customary servicing practices; provided, however, that any -------- ------- Receivable which the Seller or the Servicer is obligated to repurchase or purchase shall be deemed not to be a Liquidating Receivable during a Collection Period unless the Seller or the Servicer fails to deposit the Repurchase Amount on the related Deposit Date when due, unless such Receivable is otherwise repurchased or purchased on or prior to the last day of the Collection Period in which such Receivable is determined to be a Liquidating Receivable.

Liquidating Receivable means, with respect to any Collection Period, a Receivable (other than a Purchased Receivable) which the Servicer, on behalf of the Trust, has determined to charge off during such Collection Period in accordance with its customary servicing practices; PROVIDED, HOWEVER, that any Receivable which the Seller or the Servicer is obligated to repurchase or purchase shall be deemed not to be a Liquidating Receivable during a Collection Period unless the Seller or the Servicer fails to deposit the Repurchase Amount on the related Deposit Date when due, unless such Receivable is otherwise repurchased or purchased on or prior to the last day of the Collection Period in which such Receivable is determined to be a Liquidating Receivable.