Portfolio Residual definition

Portfolio Residual means Seller’s rights to and/or ownership interests in the past, present, and all future revenue generated collected from the Purchased Assets, less all Fees, present and future Pass-Through Costs and Interchange, and Special Fees.
Sample 1
Portfolio Residual means Company’s rights to and/or ownership interests in the past, present, and all future monthly residual income payments, either paid from or remitted by a third party credit, debit, and/or gift card processor and/or independent sales organization (“ISO”) to Company, in relation to Merchant Processing services provided to Merchants, and the proceeds therefrom and/or any Merchant Agreement.
Sample 1

Examples of Portfolio Residual in a sentence

  • At the Closing, Seller will convey and transfer to Purchaser good, complete and marketable title to all of the Portfolio Residual, free and clear of any and all restrictions and conditions on transfer or assignment, and free and clear of all mortgages, liens, security interests, encumbrances, pledges, leases, equities, claims, charges, conditions, conditional sale contracts and any other adverse interests.

  • The Processor shall consent to the transactions contemplated hereby, and shall enter into Purchaser’s standard form of estoppel certificate, acknowledging and agreeing to, among other things, the form of agreement between Processor and Seller, as well as the good standing and absence of events of default by Seller under such agreement, and the purchase and sale of the Portfolio Residual as contemplated hereby.

  • Seller has no Liabilities with respect to the Portfolio Residual, except (i) those which are adequately reflected or reserved against in the financial statements provided as of the Closing Date, and (ii) those which have been incurred in the ordinary course of business consistent with past practice prior to the Closing Date and which are not, individually or in the aggregate, material in amount.

  • Seller does not maintain or control a reserve account or other funds related to the Portfolio Residual.

  • Purchaser shall not assume or perform, pay or discharge any obligations or liabilities relating to the Portfolio Residual.

  • Seller has complied with all applicable laws, Association Requirements and industry standards in connection with the operation of its business as it relates to the Portfolio Residual.

  • All Company’s present and future rights in relation to the revenues derived from the Portfolio Residual have been or will be assigned to Purchaser, and Company has, or shall prior to Closing, obtain all third party consents necessary to ensure that all such revenues are paid to Purchaser on a continuous basis as of the Closing Date and all times thenafter.

  • Since December 31, 2014, there has been no events or circumstances of any kind that have had or could reasonably be expected to result in a Material Adverse Effect on the Net Revenue from the Portfolio Residual.

  • Company Initials ________ Purchaser Initials ________ 3.7 Changes to Monthly Revenue from Portfolio Residual.

  • The foregoing includes, without limitation, actions, suits, proceedings or investigations pending or threatened in writing (or any basis therefor known to the Company) involving the Portfolio Residual or any payment obligation of the Company in relation thereto.

Related to Portfolio Residual

  • Portfolio Asset means an asset of an investment fund;

  • Portfolio Assets means the portion of the net assets of the Fund managed by the Sub-Adviser pursuant to the following investment strategy as agreed to by the Adviser and the Sub-Adviser in a separately negotiated investment mandate: Emerging Markets (each a “Strategy”).

  • Portfolio Data means the Key Terms in relation to all outstanding Trades between you and us in a form and standard that is capable of being reconciled. The information comprising the Portfolio Data for Portfolio Data Delivery Date will be prepared as at the close of business New York time on the immediately preceding Business Day.

  • Portfolio means any account, trust or other investment vehicle (except "Fund") over which the Firm has investment management discretion.

  • Portfolio Value means the aggregate amount of portfolio of investments including cash balance without netting off of leverage undertaken by the CDMDF.

  • Receivable Interest means, at any time, an undivided percentage ownership interest in (i) all then outstanding Pool Receivables arising prior to the time of the most recent computation or recomputation of such undivided percentage interest pursuant to Section 2.03, (ii) all Related Security with respect to such Pool Receivables, and (iii) all Collections with respect to, and other proceeds of, such Pool Receivables. Such undivided percentage interest shall be computed as

  • Securitization Asset means (a) any accounts receivable, mortgage receivables, loan receivables, royalty, franchise fee, license fee, patent or other revenue streams and other rights to payment or related assets and the proceeds thereof and (b) all collateral securing such receivable or asset, all contracts and contract rights, guarantees or other obligations in respect of such receivable or asset, lockbox accounts and records with respect to such account or asset and any other assets customarily transferred (or in respect of which security interests are customarily granted) together with accounts or assets in connection with a securitization, factoring or receivable sale transaction.

  • Securitization Property means the property described in section 10j.

  • Securitization Assets means (a) the accounts receivable, royalty or other revenue streams and other rights to payment and other assets related thereto subject to a Qualified Securitization Facility and the proceeds thereof and (b) contract rights, lockbox accounts and records with respect to such accounts receivable and any other assets customarily transferred together with accounts receivable in a securitization financing.

  • Fleet Vehicle means one of a large group of New Vehicles sold to a Person (e.g., a rental car agency) which purchases in excess of ten (10) Vehicles per purchase contract for commercial use.

  • Fund/SERV Eligible Unit Servicing Agent means FTP Services LLC or any successor Fund/SERV Eligible Unit servicing agent appointed as hereinafter provided."

  • Mortgage Receivable means a promissory note secured by a Mortgage of which the Borrower or a Subsidiary is the holder and retains the rights of collection of all payments thereunder.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.

  • Securitization Value means, with respect to any 20[•]-[•] Lease, the value calculated by the Servicer equal to, (i) as of its Maturity Date, the Base Residual and (ii) as of any date other than its Maturity Date, the sum of the present value, discounted at the Securitization Rate, of (a) the aggregate Monthly Payments remaining to be made and (b) the Base Residual.

  • Other Securitization Trust Any “issuing entity” (within the meaning of Item 1101(f) of Regulation AB) that holds a Serviced Companion Loan or successor REO Companion Loan (or any portion thereof or interest therein), as identified in writing to the parties to this Agreement.

  • Permitted Special Servicer/Affiliate Fees Any commercially reasonable treasury management fees, banking fees, title insurance and/or other insurance commissions and fees, title agency fees, and appraisal review fees received or retained by the Special Servicer or any of its Affiliates in connection with any services performed by such party with respect to any Serviced Loan or REO Property, in each case, in accordance with Article III of this Agreement.

  • Servicing Portfolio means, as to any Person, the unpaid principal balance of Mortgage Loans serviced by that Person under Servicing Contracts, minus the principal balance of all Mortgage Loans that are serviced by that Person for others under subservicing arrangements.

  • Securitization Repurchase Obligation means any obligation of a seller of Securitization Assets in a Qualified Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a Standard Securitization Undertaking, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller.

  • Non-Lead Securitization means any Securitization of a Note in a Securitization Trust other than the Lead Securitization.

  • Securitization Vehicle shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).