Excess Receivables means, in relation to the Cover Pool and on each Test Calculation Date, those Receivables the aggregate Outstanding Principal of which is equal to: (i) any amount by reason of which the Portfolios comprised in the Cover Pool are in excess (as nominal value, interest coverage and net present value) of any Eligible Assets necessary to satisfy all Tests on the relevant Test Calculation Date; minus (ii) the aggregate Outstanding Principal of those Receivables indicated by the Servicer as Affected Receivables pursuant to the provisions of clause 8.1 (Payment of Indemnity) of the Warranty and Indemnity Agreement.

Excess Receivables means with respect to any Eligible Obligor or the Nissan Group identified on SCHEDULE 6 hereto, any Eligible Purchased Receivables generated during any Quarterly Period in excess of the amounts set forth opposite the name of such Eligible Obligor on SCHEDULE 6 hereto.

Excess Receivables means, on any Determination Date, an aggregate amount equal to the sum, without duplication, of (A) the aggregate amount by which Principal Receivables relating to Used Vehicles exceeds 25% of the aggregate amount of Principal Receivables included in the Trust calculated as of the last day of the preceding Collection Period, (B) the aggregate amount of Principal Receivables as of the last day of the preceding Collection Period in Eligible Accounts that are on "finance hold" for credit reasons by World Omni as of the last day of such preceding Collection Period, and (C) the aggregate amount by which Principal Receivables arising in Eligible Accounts under World Omni's Delayed Payment Privilege Program exceeds 2% of the aggregate amount of Principal Receivables included in the Trust as of the last day of the preceding Collection Period; provided that these percentages and dollar limits may be increased from time to time upon satisfaction of the Rating Agency Condition.

Examples of Excess Receivables in a sentence

To support the issue of further Series of Covered Bonds, (i) Excess Receivables may be retained in the Portfolio or (ii) Eligible Assets may be acquired from one or more Sellers with the proceeds of the relevant Subordinated Loan Agreements entered into by such Sellers in order to ensure that the Cover Pool both before and after the issue of the new Series of Covered Bonds complies with the Tests.
The Guarantor will pay interest Excess Receivables and support for further issues Segregation of Guarantor's rights and collateral in respect of each Term Loan but will have no liability to gross up for withholding.
Excess Receivables and support for further issuesTo support the issue of further Series of Covered Bonds, (i) Excess Receivables may be retained in the Portfolio or (ii) Eligible Assets may be acquired from one or more Sellers with the proceeds of new or amended Subordinated Loan Agreements made available by such Sellers in order to ensure that the Cover Pool both before and after the issue of the new Series of Covered Bonds complies with the Tests.
The Guarantor will pay interest Excess Receivables and support for further issues Segregation of Guarantor's rights and collateralin respect of each Term Loan but will have no liability to gross up for withholding.
The amount on deposit in reserve accounts was $29.0 million as of February 28, 2006, and $33.5 million as of February 28, 2005.Required Excess Receivables.

More Definitions of Excess Receivables

Excess Receivables means, in relation to the Cover Pool and on each Test Calculation Date, those Receivables transferred to the Guarantor for which the aggregate Outstanding Principal is equal to:

Excess Receivables. As defined in Section 2.1.9.

Excess Receivables shall have the meaning set forth in Section 2.5(c) of the Sale Agreement.

Excess Receivables has the meaning set forth in Section -Permitted Distributions of the Disclosure Schedule.

Excess Receivables means, at any time, all performing Net Receivables other than Required Receivables.

Excess Receivables has the meaning set forth in the LFA.