Defaulted Receivable

Defaulted Receivable. Means a Receivable with respect to which (i) all or any portion in excess of 10% of a Scheduled Payment is more than ninety (90) days past due, (ii) the Servicer has repossessed the related Financed Vehicle (and any applicable redemption period has expired), or (iii) such Receivable is in default and the Servicer has charged-off such Receivable in accordance with the Credit and Collection Policy or otherwise has determined in good... faith that payments thereunder are not likely to be resumed. View More

Defaulted Receivable. A Receivable: (a) other than any Receivable the Obligor of which is an Affiliate of VWR, as to which any payment, or part thereof, remains unpaid for (i) more than 180 days from the due date for such payment for all Receivables the Originator of which is VWR and (ii) more than 120 days from the due date for such payment for all other Receivables, or (b) without duplication (i) as to which an Insolvency Proceeding shall have occurred with respect to the Obligor thereof or any other Person... obligated thereon or owning any Related Security with respect thereto (other than the Seller or any Purchaser), or (ii) as to which any payment, or part thereof, has been written off the Seller's books as uncollectible View More