Common use of Dilutions Clause in Contracts

Dilutions. If on any day any Receivable becomes subject to any Dilution, the Seller shall be deemed to have received on such day a Collection of such Receivable in the amount of the Unpaid Balance (as determined immediately prior to such Dilution) of such Receivable (if such Receivable is canceled) or otherwise in the amount of such reduction.

Dilutions. If on any day any portion of any Receivable becomes subject is reduced or canceled causing such Receivable to any Dilutionbecome a Diluted Receivable, the Seller shall be deemed to have received on such day a Collection of such Receivable in the amount of such reduction or cancellation, and the Unpaid Balance (as determined immediately prior Seller shall pay to the Collection Agent an amount equal to such Dilution) of Deemed Collection and such Receivable (if such Receivable is canceled) or otherwise amount shall be applied by the Collection Agent as a Collection in the amount of such reductionaccordance with Section 2.12.