Reassigned Receivable definition
Reassigned Receivable shall have the meaning specified in Section 2.01A hereof.
Reassigned Receivable. Buyer shall pay Seller in cash the amount of such payment. A payment from a customer shall only be deemed to be payment of a Reassigned Receivable if (i) instructions received from the customer indicate that the payment applies to the Reassigned Receivable, (ii) Buyer has not continued to do business with the customer or (iii) for the first 30 days after the assignment of the Reassigned Receivables written instructions received from the customer do not indicate that the payment applies to a receivable other than the Reassigned Receivables, provided such Reassigned Receivable is not in dispute. After 30 days following the assignment of the Reassigned Receivables, if it is unclear whether a payment applies to a Reassigned Receivable, it shall only be deemed a payment of a Reassigned Receivable, if (i) written instructions received from the customer indicate that the payment is to be applied to a Reassigned Receivable or (ii) Buyer has not continued to do business with such customer.
Reassigned Receivable shall have the meaning specified in Section 2.01A hereof. “Receivable” shall mean all indebtedness and other payment obligations owed to an Originator by an Obligor arising from the sale of merchandise or rendering of services, by the such Originator under a Contract, including all rights to payment of any interest or finance charges and any security related thereto. “Receivables” shall not include Excluded Receivables. “Receivable Interest” shall mean, at any time, an undivided percentage ownership or security interest in (i) each and every then outstanding Receivable owned by the Seller, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) all cash and non-cash Proceeds of the foregoing, equal to the Percentage Interest at such time, and only at such time (without regard to prior calculations). “Records” shall mean correspondence, memoranda, computer programs, tapes, discs, reports, papers, books or other documents or transcribed information of any type whether expressed in ordinary or machine readable language; provided, that any intellectual property (such as software) or rights therein that are not permitted by applicable Law or contract to be assigned shall not be included herein. “Reduction Date” shall mean any day on which any portion of a Purchase Group’s Net Investment funded with Commercial Paper or with Yield based on LIBOR (i) is reduced without compliance by the Seller with the notice requirements under this Agreement, (ii) is assigned by a Conduit Purchaser to its Support Provider pursuant to the applicable Conduit Support Document following the occurrence of a Termination Event under Section 8.01(o) hereof, (iii) is reduced in connection with the payment of an Optional Reduction Amount or a Mandatory Reduction Amount or (iv) would have increased due to an Incremental Purchase requested in a Purchase Notice delivered by the Seller in accordance with Section 2.02 but was not in fact increased. “Register” shall have the meaning set forth in Section 11.02(e). “Registrar” shall have the meaning set forth in Section 11.02(e). “Regulatory Change” shall mean the occurrence after May 19, 2021 (or with respect to any Purchaser or LC Bank, such later date on which such Purchaser or LC Bank, as the case may
Examples of Reassigned Receivable in a sentence
Upon each reconveyance of a Reassigned Receivable pursuant to this Section, the Administrative Agent shall receive a security interest in the Participation Interest relating to such Reassigned Receivable and in any security interest obtained by the Seller in such Reassigned Receivable.