Definition of Pool Non-compliance Date

Pool Non-compliance Date means any day on which the Net Receivables Pool Balance as shown in the most recent Monthly Report (prior to a Level I Downgrade Event), Weekly Report (following a Level I Downgrade Event but prior to a Level II Downgrade Event) or Daily Report (following a Level II Downgrade Event) is less than the Required Net Receivables Pool Balance.

Examples of Pool Non-compliance Date in a sentence

Cure Period" means the period beginning on and including a Pool Non-compliance Date and ending on but excluding the earlier of (a) the first date thereafter on which the Net Subject Receivables Balance equals or exceeds the Required Net Subject Receivables Balance and (b) the fifth consecutive Business Day following the occurrence of such Pool Non-compliance Date.