VFN Balance definition
VFN Balance means the principal amount from time to time outstanding on ----------- the VFN, which shall be increased by (i) the amount of each Advance made pursuant to the Funding Agreement, and (ii) the amount of each payment of the Interest Component on Commercial Paper that is made from the proceeds of the issuance of Commercial Paper, and which shall be decreased only by the application of principal payments.
VFN Balance is hereby deleted and the following substituted therefor:
Examples of VFN Balance in a sentence
Following the occurrence of a Termination Event, all amounts on deposit in the Receivables Reserve Account and the ABS Reserve Account shall be applied to reduce the VFN Balance.