Yield and Servicer Reserve. “Default Ratio,” “Delinquency Ratio,” “Dilution Reserve,” or “Dilution Ratio” or amend or modify Section 9.1(f) or (H) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such clauses; or
Yield and Servicer Reserve means, on any date of determination, an amount equal to the product of (i) the Net Receivables Balance as of such date and (ii) the sum of (x) (LIBO plus the Drawn Liquidity Spread on such date multiplied by the ADSO Reserve on such date) divided by 360 and (y) (the Servicing Fee Rate multiplied by ADSO Reserve) divided by 360 Where:
Yield and Servicer Reserve. “Loss and Dilution Reserve,” “Loss Percentage,” “Dilution Ratio,” “Default Ratio” or “Loss Ratio” or (H) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such clauses;
More Definitions of Yield and Servicer Reserve
Yield and Servicer Reserve means, on any date, an amount equal to 2% multiplied by the Net Receivables Balance as of the close of business of the Servicer on such date. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in Article 9 of the UCC in the State of Illinois, and not specifically defined herein, are used herein as defined in such Article 9. TABLE OF CONTENTS (CONTINUED) Page ARTICLE I PURCHASE ARRANGEMENTS 1
Yield and Servicer Reserve. Delinquency Ratio," "Default Ratio," "Dilution Ratio" or "Concentration Limit" or (H) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such clauses; or
Yield and Servicer Reserve means, on any date, an amount equal to the Yield and Servicer Reserve Percentage, multiplied by the Net Receivables Balance on such date.
Yield and Servicer Reserve means, on any date an amount equal to the sum of (i) (BTMU’s Prime Rate multiplied by ADSO Reserve) divided by 360, and (ii) (2.4% multiplied by ADSO Reserve) divided by 360. where:
Yield and Servicer Reserve. “Default Ratio,” “Delinquency Ratio,” “Dilution Reserve,” or “Dilution Ratio” or amend or modify Section 9.1(f) or (H) amend or modify any defined term (or any fourth amended and restated receivables purchase agreement defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such clauses; or without the written consent of the then Agent, amend, modify or waive any provision of this Agreement if the effect thereof is to affect the rights or duties of such Agent. Notwithstanding the foregoing, (i) without the consent of the Financial Institutions, but with the consent of the Administrative Seller, the Agent may amend this Agreement solely to add additional Persons as Financial Institutions hereunder and (ii) the Agent, the Required Purchasers and each Company may enter into amendments to modify any of the terms or provisions of Article XI, Article XII, Section 14.13 or any other provision of this Agreement without the consent of any Seller Party, provided that such amendment has no negative impact upon such Seller Party and provided further that the Rating Agencies then rating the commercial paper notes of the Rabo Company and the CL Company shall have confirmed that the ratings of the commercial paper notes of the Rabo Company and the CL Company will not be downgraded or withdrawn as a result of such amendments. Any modification or waiver made in accordance with this Section 14.1 shall apply to each of the Purchasers equally and shall be binding upon each Seller Party, the Purchasers and the Agent.
Yield and Servicer Reserve or (H) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such clauses;
Yield and Servicer Reserve means, on any date, an amount equal to 1.5% multiplied by the Net Receivables Balance on such date. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. EXHIBIT II FORM OF PURCHASE NOTICE [Date] The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as Agent and as a Managing Agent 1251 Avenue of the Americas, 00xx Xxxxx Xxx Xxxx, Xxx Xxxx 00000-0000 Attention: Securitization Group Facsimile: (000) 000-0000 Fifth Third Bank, as a Managing Agent 00 Xxxxxxxx Xxxxxx Xxxxx, XX 000000 Xxxxxxxxxx, XX 00000 Attention: Asset Securitization Group Facsimile: (000) 000-0000 Attention: Timken Receivables Corporation Re: Purchase Notice Ladies and Gentlemen: Reference is hereby made to the Receivables Purchase Agreement, dated as of November 10, 2010, by and among Timken Receivables Corporation, a Delaware corporation (the “Seller”), The Timken Corporation, as Servicer, the “Purchasers” from time to time party thereto, the “Managing Agents” from time to time party thereto, and The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as Agent (as amended, restated, supplemented, or otherwise modified from time to time, the “Receivables Purchase Agreement”). Capitalized terms used herein shall have the meanings assigned to such terms in the Receivables Purchase Agreement. The Agent and Managing Agents are hereby notified of the following Incremental Purchase: Purchase Price: $ _____ Date of Purchase: ______