Liquidated Contracts definition

Liquidated Contracts means this Agreement, and any other “Forward Contracts” between the Other Party and/or any of its Affiliates and the Non-Performing Party that are actually liquidated as provided herein due to the occurrence of an Insolvency Event, or, with respect to this Agreement, any other Event of Default; the term “Liquidating Party” means, the Other Party or its Affiliate, with respect to the relevant Liquidated Contract; and the term “Liquidation Date” means the date of termination of the Liquidated Contracts. For each Liquidated Contract, the Liquidating Party shall determine the aggregate gains or losses resulting from the liquidation of the Liquidated Contract (each, a “Liquidation Balance”), by calculating the difference, if any, between the price specified for the products thereunder and the market price for the relevant commodity as of the date of liquidation (as determined by the Liquidating Party in any commercially reasonable manner), multiplied by the remaining quantities of the product to be delivered thereunder. The Liquidation Balance for each Liquidated Contract shall be netted to a single sum (the “Liquidated Amount”), and the Liquidating Parties shall notify the Non-Performing Party of the Liquidated Amount in writing. The Non-Performing Party shall pay the entire Liquidated Amount to the relevant Liquidating Party within one (1) Business Day after the written notice is given, and the Liquidated Amount shall bear interest at the Interest Rate, from the date the Liquidated Amount is due until it is paid.

Liquidated Contracts means any Automobile Contract (i) which has been liquidated by the Servicer through the sale of the Financed Vehicle or (ii) for which the related Financed Vehicle has been repossessed and 90 days have elapsed since the date of such repossession or (iii) as to which an Automobile Contract Debtor has failed to make more than 90% of a Scheduled Payment of more than ten dollars for 120 days or more as of the end of a Collection Period or (iv) with respect to which proceeds have been received which, in the Servicer’s judgment, constitute the final amounts recoverable in respect of such Automobile Contract.

Liquidated Contracts means any Automobile Contract (i) which has been liquidated by the Servicer through the sale of the Financed Vehicle or (ii) for which the related Financed Vehicle has been repossessed and 90 days have elapsed since the date of such repossession or (iii) as to which an Automobile Contract Debtor has failed to make more than 90% of a Scheduled Payment of more than ten dollars for 120 days or more as of the end of a Collection Period or (iv) with respect to which proceeds have been received which, in the Servicer's judgment, constitute the final amounts recoverable in respect of such Automobile Contract.