Definition of PLP Loan Application A/R

  1. PLP Loan Application A/R means revenue received by the Company or the Purchaser after the Closing Date in respect of completed student loan applications generated by the Company within the sixty (60) day period prior to the Closing Date considered to be in process with PLP, Inc. as of the Closing Date and for which the Company had not yet received payment, or was not accounted for as an Account Receivable in the Final Closing Date A/R.

Examples of PLP Loan Application A/R in a sentence

  1. Within five (5) calendar days of the Closing Date, the Purchaser shall make a cash payment to the Member in an amount equal to the product of (a) the PLP Loan Application A/R and (b) 60%.

Definition of PLP Loan Application A/R in Agreement

PLP Loan Application A/R means revenue received by the Company or the Purchaser after the Closing Date in respect of completed student loan applications generated by the Company within the sixty (60) day period prior to the Closing Date considered to be in process with PLP, Inc. as of the Closing Date and for which the Company had not yet received payment, or was not accounted for as an Account Receivable in the Final Closing Date A/R.