Average Receivables

Average Receivables. With respect to an annual period (or such shorter period at the end of the term of this Agreement or as otherwise specified herein), the sum of the ending receivable balances due Red Iron associated with the Challenged Dealers for each month included in such annual period (or of each month in the current calendar year in the case of the calculation for the end of the term of this Agreement or as otherwise specified herein) divided by 12 or such lesser number of months for any period of less... than one year. Receivable balances for the purposes of this definition shall be the unpaid principal balances of the Wholesale Instruments without taking into account any provision for credit loss, interest due thereon or any miscellaneous amounts payable in connection with the collection thereof. View More