Repossessed Receivable definition

Repossessed Receivable with respect to any Collection Period, means any defaulted Receivable as to which the Financed Equipment securing such defaulted Receivable has been repossessed by the last day of such Collection Period.
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Repossessed Receivable with respect to any Collection Period will be any Receivable as to which the Financed Equipment securing the defaulted Receivable has been repossessed on or prior to the last day of such Collection Period and which has not become a Liquidated Receivable.
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Repossessed Receivable means a Receivable with respect to which the earliest of the following shall have occurred: (i) the date the Financed Vehicle is actually repossessed and (ii) 30 days after the date the Financed Vehicle is authorized for repossession.
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Examples of Repossessed Receivable in a sentence

  • The Servicer shall determine the estimated value of any Receivable as to which a Scheduled Payment is more than 180 days past its due date as of the last day of a Collection Period during or prior to the immediately following Collection Period and of each Repossessed Receivable.


More Definitions of Repossessed Receivable

Repossessed Receivable means a Receivable with respect to which the earlier to occur of (i) the date the Financed Vehicle is actually repossessed and (ii) 30 days after the date the Financed Vehicle is authorized for repossession.
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Repossessed Receivable means a Receivable with respect to which the related Financed Vehicle has been repossessed.
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Repossessed Receivable means a Receivable (other than a Liquidated Receivable) as to which the Servicer or Sub-Servicer has repossessed the related Manufactured Home.
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Repossessed Receivable with respect to any calendar month will be any Receivable as to which the Financed Equipment securing the defaulted Receivable has been repossessed by the last day of such calendar month and which has not become a Liquidated Receivable.
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Related to Repossessed Receivable

  • Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Sections 4.2, 4.4(c) or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a).

  • Liquidated Receivable means any Receivable liquidated by the Servicer through the sale or other disposition of the related Financed Equipment or that the Servicer has, after using all reasonable efforts to realize upon the Financed Equipment, determined to charge off without realizing upon the Financed Equipment.

  • Receivable any right to payment for goods sold or leased or for services rendered, whether or not such right is evidenced by an Instrument or Chattel Paper and whether or not it has been earned by performance (including, without limitation, any Account).