Common use of Acquisition of Receivables Clause in Contracts

Acquisition of Receivables. In consideration for each transfer of the Receivables and the other related Additional Transferor Transferred Property, the Depositor will (i) distribute to the Additional Transferor the Receivables Cash Transfer Amount for such Receivables on the related Acquisition Date, and (ii) make a distribution to, or at the written direction of, the Additional Transferor in an amount equal to the excess, if any, of the Receivables Transfer Amount over the Receivables Cash Transfer Amount for such Receivables, in the form of an increase in the beneficial interest in the Trust, as evidenced by the portion of the Class A Certificate allocated to the Additional Transferor, in proportion to the Receivables transferred by the Additional Transferor on such Acquisition Date. The Additional Transferor, on the one hand, and the Depositor, on the other hand, represents and warrants to the other that the aggregate amount set forth in clauses (i) and (ii) in the immediately preceding sentence distributed by the Depositor to the Additional Transferor on such Acquisition Date will equal the fair market value of the Receivables and the other related Additional Transferor Transferred Property transferred by the Additional Transferor to the Depositor on such Acquisition Date.