Examples of Principal Receivable in a sentence
Sarah has a long and extensive experience in the financial sector where she up to 2015 was President of the SPP Group.
To the extent that it is not clear to Capital One whether collections or funds collateral relate to a Principal Receivable that was sold to Funding or to a principal receivable that Capital One is unable to sell to Funding, Capital One agrees that it shall allocate payments and funds collateral on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account.
If the Servicer adjusts the amount of any Principal Receivable because of transactions occurring in respect of a rebate or refund to a cardholder, or because such Principal Receivable was created in respect of merchandise which was refused or returned by a cardholder, then the amount of the Seller Interest in the related Trust will be reduced, on a net basis, by the amount of the adjustment.
To the extent that it is not clear to Capital One whether collections or funds collateral relate to a Principal Receivable that was sold to Funding or to a principal receivable that Capital One has not sold to Funding, Capital One agrees that it shall allocate payments and funds collateral on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account.
To the extent that it is not clear to Capital One whether collections or funds collateral relate to a Principal Receivable that was sold to Funding or to a principal receivable that Capital One did not sell to Funding, Capital One shall allocate payments and funds collateral on each such Removed Account with respect to the principal balance of such Removed Account first to the oldest principal balance of such Removed Account.