Standard Receivable definition

Standard Receivable means all rights and obligations under a Contract listed on a Schedule of Receivables which is not a Final Payment Receivable.
View Source
Standard Receivable means any Contract listed on Schedule A (which Schedule may be in the form of microfiche) that is not a Fixed Value Receivable.
View Source
Standard Receivable means all rights and obligations under a Contract which is not a Final Payment Receivable listed on the Schedule of Receivables.
View Source

Examples of Standard Receivable in a sentence

  • The Servicer shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except in the event of payment in full by the Obligor thereunder or repossession, nor shall the Servicer impair the rights of the Issuer, the Indenture Trustee, the Certificateholders or the Noteholders in such Receivable, nor shall the Servicer increase the number of scheduled payments due under a Standard Receivable or Fixed Value Receivable.

  • The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Standard Receivable and Fixed Value Receivable in the related Financed Vehicle.

  • No provision of a Standard Receivable or Fixed Value Receivable has been waived.

  • Each Standard Receivable and Fixed Value Receivable represents the genuine, legal, valid and binding payment obligation in writing of the Obligor, enforceable by the holder thereof in accordance with its terms.

  • The latest scheduled maturity of any Standard Receivable or Fixed Value Receivable shall be no later than the Final Scheduled Maturity Date.

  • There is only one original executed copy of each Standard Receivable and Fixed Value Receivable.

  • As of the related Cutoff Date, no Obligor on a Standard Receivable or Fixed Value Receivable is shown on the Receivable Files as the subject of a bankruptcy proceeding.

  • No right of rescission, setoff, counterclaim or defense has been asserted or threatened with respect to any Standard Receivable or Fixed Value Receivable.

  • Immediately prior to the sale, assignment and transfer thereof, each Standard Receivable and Fixed Value Receivable shall be secured by a validly perfected first security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first security interest in the Financed Vehicle in favor of the Seller as secured party.

  • No Financed Vehicle securing any Standard Receivable or Fixed Value Receivable is in repossession status.


More Definitions of Standard Receivable

Standard Receivable a receivable identified in the Borrower's records as belonging to the standard loan program based on the underwriting and pricing criteria in place at the time of the origination of such receivable.
View Source
Standard Receivable means any Receivable that is on the payment terms specified under the heading “Standard Receivable” on Schedule 7.1(q).
View Source

Related to Standard Receivable

  • Settlement Receivable means any general intangible, payment intangible, or instrument representing or reflecting an obligation to make payments to or for the benefit of a Person in consideration for a Settlement made or arranged, or to be made or arranged, by such Person.

  • Current Receivable means each Receivable that is not a Defaulted Receivable or a Liquidated Receivable.

  • Unbilled Receivable means, at any time, any Receivable as to which the invoice or ▇▇▇▇ with respect thereto has not yet been sent to the Obligor thereof.

  • Diluted Receivable means that portion, and only that portion, of any Receivable which is either (a) reduced or canceled as a result of a Dilution Factor or (b) subject to any specific dispute, offset, counterclaim or defense whatsoever.

  • 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).