Buffer Amount definition
Examples of Buffer Amount in a sentence
The Issuer shall only agree to a withdrawal by VWFS of a Collateral RV Buffer Amount posted with respect to a Purchased Receivable subject to a Payment Holiday With Term Extension or a Further Payment Holiday With Term Extension outside of the Order of Priority if the related Purchased Receivable is repurchased in accordance with the Receivables Purchase Agreement or the Redelivery Repurchase Agreement.
The Servicer will only be entitled to request a withdrawal of a Collateral RV Buffer Amount posted with respect to a Purchased Receivable subject to a Payment Holiday With Term Extension outside of the Order of Priority if the related Purchased Receivable is repurchased in accordance with the Receivables Purchase Agreement or the Redelivery Repurchase Agreement.
The Servicer will only be entitled to request a withdrawal of a Collateral RV Buffer Amount posted with respect to a Purchased Receivable subject to a Payment Holiday With Term Extension or Further Payment Holiday With Term Extension outside of the Order of Priority if the related Purchased Receivable is repurchased in accordance with the Receivables Purchase Agreement or the Redelivery Repurchase Agreement.
In respect of each Purchased Receivable in relation to which the Servicer grants a Payment Holiday With Term Extension, the Servicer will, on the Payment Date following the end of the relevant Monthly Period during which such Payment Holiday With Term Extension or Further Payment Holiday With Term Extension was granted, deposit an amount equal to the Collateral RV Buffer Amount onto the Collateral RV Ledger.
On each Payment Date, the Servicer will credit the Collateral RV Ledger with the Collateral RV Buffer Amount in respect of any Purchased Receivable which has been subject to a Payment Holiday With Term Extension during the relevant Monthly Period.
The Issuer shall only agree to a withdrawal by VWFS of a Collateral RV Buffer Amount posted with respect to a Purchased Receivable subject to a Payment Holiday With Term Extension outside of the Order of Priority if the related Purchased Receivable is repurchased in accordance with the Receivables Purchase Agreement or the Redelivery Repurchase Agreement.
The Issuer shall only agree to a withdrawal by VWFS of a Collateral RV Buffer Amount posted with respect to a Purchased Receivable subject to a Payment Holiday With Term Extension or a Further Payment Holiday with Term Extension outside of the Order of Priority if the related Purchased Receivable is repurchased in accordance with the Receivables Purchase Agreement.