Sold Account definition

Sold Account means an Account which Borrower or a Subsidiary has sold to, or otherwise has granted a Lien on or in favor of, the purchaser pursuant to a Qualified Receivables Transaction, for which such Credit Party has received the purchase price for such Account.

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Sold Account means an Account that Borrower or a Subsidiary has sold to, or otherwise has granted a Lien on or in favor of, the purchaser pursuant to a Qualified Receivables Transaction, for which such Loan Party has received the purchase price for such Account.

Sold Account means an account listed on the Account Schedule (defined in the Credit Card Accounts Sale Agreement described below), as such Account Schedule may be amended from time to time, including any accounts receivable thereunder, established pursuant to a Credit Agreement between Greenwood and any other person, the account relationship of which is transferred by Greenwood and the receivables under which are transferred by Debtor/Seller to Secured Party/Purchaser pursuant to the Credit Card Accounts Sale Agreement with an Effective Date of May 27, 1998, among Debtor/Seller, Greenwood and Secured Party/Purchaser (the "Credit Card Accounts Sale Agreement"). Each Sold Account is to be identified on the computer records of Greenwood with either a 50, a 51, a 52 or a 53 in the field captioned "CHD-Portfolio-No." Secured Party/Purchaser 24 25 and Debtor/Seller hereby acknowledge that the phrase "Sold Account" shall not include any accounts the receivables of which have been transferred to (i) the Trust pursuant to the Pooling and Servicing Agreement, dated as of October 1, 1993, between Greenwood Trust Company as Master Servicer, Servicer and Seller, and U.S. Bank National Association (formerly First Bank National Association, successor trustee to Bank of America Illinois, formerly Continental Bank, National Association), as trustee, as amended from time to time (the "Pooling and Servicing Agreement"), which accounts are identified on the computer records of Greenwood with a 42 in the field captioned "CHD-Portfolio-No.", except for accounts that (a) have become "Charged-off Accounts" (as defined in the Pooling and Servicing Agreement) and (b) are listed as accounts, the receivables under which are being sold by Debtor/Seller and the account relationship of which is being sold by Greenwood under the Credit Card Accounts Sale Agreement, (ii) Discover Card Trust 1991 F pursuant to that certain Pooling and Servicing Agreement dated as of November 1, 1991, among Discover Receivables Financing Group, Inc. as Seller, Greenwood Trust Company as Servicer and Wilmington Trust Company as trustee, as amended from time to time, which accounts are identified on the computer records of Greenwood with a 31 in the field captioned "CHD-Portfolio-No.", (iii) Discover Card Trust 1991 D pursuant to that Pooling and Servicing Agreement dated as of October 1, 1991, among Discover Receivables Financing Group, Inc as Seller, Greenwood Trust Company as Servicer and Wilmington Trust Company as tr...

Examples of Sold Account in a sentence

Provided that the Sold Account (as defined below) remains in good status within thirty (30) days from the Sale, You will be paid a commission for each Sold Account that generates a payment to Vendasta in a month (“Commission”).
If payment for a Sold Account later results in a refund or chargeback, and if a Commission was paid to You for that Sold Account payment, then the Commission will be deducted from Your future Commissions.
Except as otherwise provided herein, Commission payments will be paid on the 15th of each month following Vendasta's receipt of payment for a Sold Account, subject to the other terms of this Agreement.
When someone (“a Prospect”) clicks your URL and signs up for a CreativeMindClass account, a tracking Cookie identifies the registration as a "Sale" linked to your URL, resulting in a "Sold Account." Should a Prospect have Cookies from multiple partners, the most recent Cookie determines the Sale's credit.
As long as you comply with this Agreement, you are entitled to a referral fee for each Sold Account that makes a payment to CreativeMindClass, whether on a monthly or annual basis.
Should a Sold Account later upgrade its CreativeMindClass account, this upgrade will be attributed to the Partner who initially referred the account, regardless of whether the upgrade was facilitated through a different Partner account.
If a payment for a Sold Account is refunded or charged back, the corresponding Referral Fee will be deducted from future payments.
Provided that the Sold Account (as defined below) remains in good status within thirty (30) days from the Sale, You will be paid a commission for each Sold Account that generates a payment to The ▇▇▇▇▇▇▇▇ Method in the respective month’s open period (“Commission”).
It is understood and agreed that the obligation of Midway to cure a Repurchase Event or purchase the Sold Accounts sold hereunder which are affected by or related to such Repurchase Event is not intended to, and shall not, constitute a guaranty of the collectibility or payment of any Sold Account which is not collected, not paid or uncollectible solely on account of the insolvency, bankruptcy, or financial inability to pay of the related Customer.
For each Sold Account which was a part of Portfolio financed in whole or in part by a Portfolio Purchase Loan, the entire amount received by Borrower upon the sale thereof shall be applied first to the outstanding principal balance of such Portfolio Purchase Loan, and then to such of the other Obligations as Bank shall determine.

More Definitions of Sold Account

Sold Account means a Receivable that a Loan Party has sold to, or otherwise has granted a Lien on or in favor of, a Supplier Financing Intermediary pursuant to a Supplier Financing Agreement, for which such Loan Party has received the purchase price for such Receivable in a Depositary Account. “Specified Event of Default” shall mean the occurrence of an Event of Default under Section 10.1, 10.3, 10.5, as a result of the failure to comply with Section 6.5 or 4.8 of this Agreement, or 10.7 “Subsidiary” shall mean of any Person a corporation or other entity of whose Equity Interests having ordinary voting power (other than Equity Interests having such power only by reason of the happening of a contingency) to elect a majority of the directors of such corporation, or other Persons performing similar functions for such entity, are owned, directly or indirectly, by such Person. “Subsidiary Stock” shall mean (a) with respect to the Equity Interests issued to a Loan Party by any Subsidiary (other than a Foreign Subsidiary), 100% of such issued and outstanding Equity Interests, and (b) with respect to any Equity Interests issued to a Loan Party by any Foreign Subsidiary (i) 100% of such issued and outstanding Equity Interests not entitled to vote (within the meaning of Treas. Reg. Section 1.956(c)(2)) and (ii) 66% (or such greater percentage that, due to a change in an Applicable Law after the date hereof, (x) could not reasonably be expected to cause the undistributed earnings of such Foreign Subsidiary as determined for United States federal income tax purposes to be treated as a deemed dividend to such Loan Party and (y) could not reasonably be expected to cause any material adverse tax consequences) of such issued and outstanding Equity Interests entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)). “Supplier Financing Agreement” means any receivables purchase agreement, supplier financing agreement or similar arrangement between (x) a supplier financing counterparty on the Effective Date (each an “Existing Supplier Financing Intermediary”) with respect to Receivables owing to a Loan Party by (i) those Customers participating in Supplier Financing Agreements on the Effective Date and previously disclosed to the Agent in writing or (ii) any other Customer approved in writing by the Agent in its Permitted Discretion or (y) a supplier financing counterparty reasonably acceptable to the Agent (each an “Approved Supplier Financing Intermediary” and with eac...

Sold Account means any Eligible Account sold by Midway to the Factor pursuant to Section 2 below.