Net Portfolio definition

Net Portfolio means, for the purposes of determining any Physical Redemption Amount, those Affected Assets (excluding any Affected Assets posted by the Issuer to the Swap Counterparty under the CSA) and the Credit Support Assets (if any) remaining following liquidation by the Disposal Agent of sufficient Affected Assets and/or Credit Support Assets (if any) to satisfy any Transaction Termination Amount payable by the Issuer.

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Net Portfolio means, for the purposes of determining any Physical Redemption Amount, those Affected Assets (excluding any Affected Assets posted by the Issuer to the Swap Counterparty under the CSA) and the Credit Support Assets (if any) remaining following liquidation by the Disposal Agent of sufficient Affected Assets and/or Credit Support Assets (if any) to satisfy any Transaction Termination Amount payable by the Issuer. In connection with the foregoing, (a) if the Affected Assets comprise all the Initial Assets of the relevant Series of Notes, the relevant Swap Transaction(s) shall terminate in whole, any Credit Support Assets remaining after satisfaction of any Transaction Termination Amount payable by the Issuer shall form part of the Net Portfolio, and (b) if the Affected Assets do not comprise all the Initial Assets of the relevant Series of Notes, the relevant Swap Transaction(s) shall terminate in part only (in the same proportion that the Affected Assets bears to the Initial Assets), and any Credit Support Assets shall not form a part of the Net Portfolio.

Net Portfolio means, for the purposes of determining any Physical Redemption Amount, the Assets and the Credit Support Assets remaining following liquidation by the Disposal Agent of sufficient Affected Assets and/or Credit Support Assets to satisfy any Transaction Termination Amount payable by the Issuer.

Examples of Net Portfolio in a sentence

• Each Receivable included in the Net Portfolio Balance as an Eligible Receivable was an Eligible Receivable on the date of its purchase by Seller under the Receivables Sale Agreement.

• At no time prior to the Amortization Date shall Seller permit the Net Portfolio Balance to be less than an amount equal to the sum of (i) the Aggregate Capital plus (ii) the Credit Enhancement, in each case, at such time.

• Notwithstanding anything to the contrary in this Agreement, Seller shall ensure that the Net Portfolio Balance shall at no time be less than the sum of (i) the Aggregate Capital at such time, plus (ii) the Credit Enhancement at such time.

• Seller has determined that, immediately after giving effect to each Purchase hereunder (including the initial Purchase and the Deemed Exchange on the date hereof), the Net Portfolio Balance equals or exceeds the sum of (i) the Aggregate Capital, plus (ii) the Credit Enhancement, in each case, at such time.

• At no time prior to the Amortization Date shall Seller permit the Net Portfolio Balance to be less than an amount equal to the sum of (i) the Aggregate Capital plus (ii) the Required Reserves, in each case, at such time.

• Seller has determined that, immediately after giving effect to each Purchase hereunder (including the initial Purchase on the date hereof), the Net Portfolio Balance equals or exceeds the sum of (i) the Aggregate Capital, plus (ii) the Required Reserves, in each case, at such time.

• Notwithstanding anything to the contrary in this Agreement, Seller shall ensure that the Net Portfolio Balance shall at no time be less than the sum of (i) the Aggregate Capital at such time, plus (ii) the Required Reserves at such time.

• Each Pool Receivable relating to a Receivable Pool listed as an Eligible Receivable in any Information Package or included as an Eligible Receivable in the calculation of Net Portfolio Balance for such Receivable Pool on any date is an Eligible Receivable as of the effective date of the information reported in such Information Package or as of the date of such calculation, as the case may be.

• Upon receiving a TTA Payment Receipt Notice, for the purposes of determining the Net Portfolio, the Calculation Agent will deem the Transaction Termination Amount to be nil.

• Each Receivable sold by such Originator hereunder and included at any time in the Net Portfolio Balance as an Eligible Receivable was, on its Purchase Date, an Eligible Receivable.

More Definitions of Net Portfolio

Net Portfolio means, for the purposes of determining any Physical Redemption Amount, those Affected Assets (excluding any Affected Assets posted by the Issuer to the Swap Counterparty

Net Portfolio means, for the purposes of determining any Deliverable Amount, the Net Affected Assets.

Net Portfolio means, for the purposes of determining any Physical Redemption Amount, those Affected Assets remaining following liquidation by the Disposal Agent of sufficient Affected Assets to satisfy any Transaction Termination Amount payable by the Issuer.

Net Portfolio means, for the purposes of determining any Deliverable Amount, those Affected Assets remaining following liquidation by the Disposal Agent of sufficient Affected Assets to satisfy any Transaction Termination Amount payable by the Issuer.