Receivable Interest means, at any time, an undivided percentage ownership interest (computed as set forth below) associated with a designated amount of Invested Amount, selected pursuant to the terms and conditions hereof in (i) each Receivable arising prior to the time of the most recent computation or recomputation of such undivided interest, (ii) all Related Security with respect to each such Receivable, and (iii) all Collections with respect to, and other proceeds of, each such Receivable. Each such undivided percentage interest shall equal: IA + RR NPB where: IA = the Invested Amount of such Receivable Interest. NPB = the Net Pool Balance. RR = the Required Reserve. Such undivided percentage ownership interest shall be initially computed on its date of purchase. Thereafter, until the Facility Termination Date, each Receivable Interest shall be automatically recomputed (or deemed to be recomputed) on each day prior to the Facility Termination Date. The variable percentage represented by any Receivable Interest as computed (or deemed recomputed) as of the close of the business day immediately preceding the Facility Termination Date shall remain constant at all times thereafter.

Receivable Interest contained in this Section 1.01.

Examples of Receivable Interest in a sentence

Each assignor of a Receivable Interest in the Pool Receivables or any interest therein shall notify the applicable Purchaser Agent, the Administrative Agent and the Seller of any such assignment.
Interest Receivable Interest income impacts the portfolio as soon as it is earned.
If the Adjusted Funded Amount is included in the calculation of the Falcon Transfer Price for any Receivable Interest, each Financial Institution agrees that the Agent shall pay to Falcon the Reduction Percentage of any Yield received by the Agent with respect to such Receivable Interest.
Each Receivable Interest in the Pool Receivables shall be initially computed on its date of purchase.
The initial Incremental Purchase of a Receivable Interest under this Agreement is subject to the conditions precedent that the Agent shall have received on or before the date of such purchase (a) those documents listed on Schedule B, (b) all fees and expenses required to be paid on such date pursuant to the terms of this Agreement and the Fee Letter, and (c) a Monthly Report for the month of November.

More Definitions of Receivable Interest

Receivable Interest means, at any time, an undivided percentage ownership interest in all Receivables in the Receivables Pool and in all Related Security with respect to such Pool Receivables and all Collections with respect to, and other proceeds of, such Pool Receivables equal to the Receivable Interest Percentage.

Receivable Interest means, at any time, an undivided percentage ownership interest (computed as set forth below) associated with a designated amount of Invested Amount, selected pursuant to the terms and conditions hereof in (i) each Receivable arising prior to the time of the most recent computation or recomputation of such undivided interest, (ii) all Related Security with respect to each such Receivable, and (iii) all Collections with respect to, and other proceeds of, each such Receivable. Each such undivided percentage interest shall equal: IA x (1 + RR ) AIA where: IA = the Invested Amount of such Receivable Interest. AIA = the Aggregate Invested Amount. NPB = the Net Pool Balance. RR = the Required Reserve. Such undivided percentage ownership interest shall be initially computed on its date of purchase. Thereafter, until the Final Facility Termination Date, each Receivable Interest shall be automatically recomputed (or deemed to be recomputed) on each day prior to the Final Facility Termination Date. The variable percentage represented by any Receivable Interest as computed (or deemed recomputed) as of the close of the business day immediately preceding the Final Facility Termination Date shall remain constant at all times thereafter.

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 C + YFR + LR + DR NRPB where: C = the Capital of such Receivable Interest at the time of computation. YFR = the Yield and Fee Reserve of such Receivable Interest at the time of computation. LR = the Loss Reserve of such Receivable Interest at the time of computation. DR = the Dilution Reserve of such Receivable Interest at the time of computation. NRPB = the Net Receivables Pool Balance at the time of computation. Each Receivable Interest shall be determined from time to time pursuant to the provisions of Section 2.03.

Receivable Interest means, at any date of determination, an undivided percentage ownership interest in (a) 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 1.03, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Each undivided percentage interest shall be computed as C + YR + LR + CAFR +DR NRPB where: C = the Capital of each such Receivable Interest at the time of computation. YR = the Yield Reserve of each such Receivable Interest at the time of computation. LR = the Loss Reserve of each such Receivable Interest at the time of computation. CAFR = the Collection Agent Fee Reserve of each such Receivable Interest at the time of computation. DR = the Dilution Reserve of each such Receivable Interest at the time of computation. NRPB = the Net Receivables Pool Balance at the time of computation. Each Receivable Interest shall be determined from time to time pursuant to the provisions of Section 1.03.

Receivable Interest means an undivided ownership interest determined from time to time as provided in Section 1.4(b) in all Pool Assets.