Additional Receivables. On each Distribution Date during the Revolving Period, the Depositor shall purchase from the Seller and sell to the Issuing Entity Additional Receivables in an amount approximately equal to (but not greater than) the amount of funds deposited on such Distribution Date in the Accumulation Account pursuant to clauses (vii) and (ix) of Section 4.06(c) of this Agreement. Subject to the satisfaction of the conditions set forth in Section 2.07, in consideration of the Issuing Entity’s delivery on or prior to any Subsequent Closing Date to the Depositor of an amount equal to the Aggregate Additional Receivables Principal Balance for such date, on each Subsequent Closing Date the Depositor shall, pursuant to this Agreement and the related Second Step Additional Receivables Assignment in the form attached as Exhibit C to this Agreement (the “Second Step Additional Receivables Assignment” and together with the Second Step Initial Receivables Assignment, the “Second Step Receivables Assignments”), sell, transfer, assign and otherwise convey to the Issuing Entity, without recourse:
Additional Receivables. In consideration for the Additional Purchased Property, XXXX shall, on each related Subsequent Closing Date, pay to the Seller an amount equal to the Aggregate Additional Receivables Principal Balance in respect of the Additional Receivables sold on such date and the Seller shall execute and deliver to XXXX an assignment in the form attached hereto as Exhibit A (the “First Step Additional Receivables Assignment”). A portion of the Aggregate Additional Receivables Principal Balance shall be paid to the Seller in immediately available funds and the balance of such purchase shall be paid through one or both of (a) an increase in the amount owing from XXXX to Seller under the Intercompany Advance Agreement (as a result of an advance made thereunder from Seller to XXXX) and (b) an increase in Seller’s capital account in XXXX (as a result of a deemed capital contribution from Seller to XXXX). The amount advanced under the Intercompany Advance Agreement and the amount of the deemed capital contribution shall be duly recorded by the Seller and XXXX. The First Step Initial Receivables Assignment and each First Step Additional Receivables Assignment are collectively referred to herein as the “First Step Receivables Assignments.”)
Additional Receivables. In addition to the characteristics set forth in Section 4.01(a)(i) above, each Additional Receivable as of the related Subsequent Cutoff Date, was not considered past due, that is, the payments due on that Additional Receivable in excess of $25 were not more than thirty (30) days delinquent, and such Additional Receivable was not a Liquidating Receivable.
Additional Receivables. All Receivables created on or after the Cut-off Date which are (i) sold by the Servicer to the Receivables Seller under the Receivables Sale Agreement and/or which are (ii) sold and/or contributed by (A) the Receivables Seller to the Depositor pursuant to the Receivables Sale Agreement, as described in Section 2(a) of the Receivables Sale Agreement and (B) the Depositor to the Issuer pursuant to the Receivables Pooling Agreement. Any Receivables (x) created at any time with respect to an MBS Trust or a Mortgage Loan with respect to which OLS no longer acts at such time as Servicer prior to the MSR Transfer Date, or as to which HLSS no longer acts as Servicer from and after the MSR Transfer Date, or (y) sold and/or contributed to the Depositor or the Issuer on or after a Stop Date pursuant to Section 2(d) of the Receivables Sale Agreement or Section 2(c) of the Receivables Pooling Agreement shall not constitute Additional Receivables.
Additional Receivables. In consideration for the Additional Purchased Property, Ally Auto shall, on each related Subsequent Closing Date, pay to the Seller an amount equal to the Aggregate Additional Receivables Principal Balance in respect of the Additional Receivables sold on such date and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A (the “First Step Additional Receivables Assignment”). A portion of the Aggregate Additional Receivables Principal Balance, equal to $[ ], shall be paid to the Seller in immediately available funds and the balance of such purchase shall be paid through one or both of [(a) an increase in the amount owing from Ally Auto to Seller under the Intercompany Advance Agreement (as a result of an advance made thereunder from Seller to Ally Auto), equal to $[ ], and (b)] an increase in Seller’s capital account in Ally Auto (as a result of a deemed capital contribution from Seller to Ally Auto), equal to $[ ]. The amount [advanced under the Intercompany Advance Agreement and the amount] of the deemed capital contribution shall be duly recorded by the Seller and Ally Auto. The First Step Initial Receivables Assignment and each First Step Additional Receivables Assignment are collectively referred to herein as the “First Step Receivables Assignments.”)]
Additional Receivables. All Receivables created or acquired on or after the Closing Date which are sold and/or contributed by (i) the Receivables Seller to the Depositor pursuant to the Receivables Sale Agreement, as described in Section 2(a) of the Receivables Sale Agreement and (ii) the Depositor to the Issuer pursuant to the Receivables Pooling Agreement. Any Receivables (x) created at any time with respect to a Mortgage Pool or a Mortgage Loan with respect to which Nationstar no longer acts at such time as Servicer or (y) sold and/or contributed to the Depositor or the Issuer on or after a Stop Date pursuant to Section 2(c) of the Receivables Sale Agreement or Receivables Pooling Agreement shall not constitute Additional Receivables.
Additional Receivables. Each Additional Receivable shall have been identified and approved by Aegis Finance on or prior to the Closing Date, as evidenced by Aegis Finance's dated notation of approval on the loan application (or other writing).
Additional Receivables. On each Distribution Date during the Revolving Period, the Depositor shall purchase from the Seller and sell to the Issuing Entity Additional Receivables in an amount approximately equal to (but not greater than) the amount of funds deposited on such Distribution Date in the Accumulation Account pursuant to clauses [(vii) and (ix) of Section 4.06(e)] of the Servicing Agreement. Subject to the satisfaction of the conditions set forth in Section 2.07, in consideration of the Issuing Entity’s delivery on or prior to any
Additional Receivables. Subject to the satisfaction of the conditions set forth in Section 2.07, in consideration of the Issuer's delivery on or prior to any Additional Closing Date to the Seller of an amount equal to the Additional Receivables Discounted Principal Balance for such date, on each Additional Closing Date the Seller shall, pursuant to this Agreement and the related Second Step Additional Receivables Assignment in the form attached as Exhibit C to this Agreement (the "Second Step Additional Receivables Assignment" and together with the Second Step Initial Receivables Assignment, the "Second Step Receivables Assignments"), sell, transfer, assign and otherwise convey to the Issuer, without recourse:
Additional Receivables. (a) At any time during the Revolving Period, but no more than once in any consecutive three month period (unless more frequent additions are approved by the Collateral Agent acting upon written instructions of each of the Secured Parties), the Debtor may designate additional Eligible Receivables to be included as part of the Collateral ("ADDITIONAL RECEIVABLES"); PROVIDED, HOWEVER, that in the case of an addition done for a purpose other than preventing the sum of the Borrowing Base plus the amount on deposit in the Reserve Account from declining below the Net Investment, the date of transfer (the "ADDITION DATE") shall be as of the opening of business on the first Business Day of the Collection Period immediately succeeding the Addition Cut-Off Date with respect to such Additional Receivables. It shall be a condition precedent to the pledge to the Collateral Agent of any Additional Receivables that (i) the Debtor shall have provided the Collateral Agent and the Surety Bond Provider reasonable access to all computer tapes, books, records, files and documentation relating to the Receivables and the retail installment sales contracts to be designated as Additional Receivables, (ii) the Debtor shall have entered into an Interest Rate Cap, which shall be in form and substance acceptable to the Surety Bond Provider, (iii) after giving effect to such pledge of Additional Receivables the Net Investment shall not be greater than the Noteholder's Percentage of the Borrowing Base, (iv) the amount on deposit in the Reserve Account shall at least equal the Required Reserve Account Balance (calculated as if such Additional Receivables shall have been pledged to the Collateral Agent), (v) if any Additional Receivables proposed to be pledged to the Collateral Agent were acquired by the Seller in a bulk purchase, the Surety Bond Provider shall have consented in writing to the pledge of such Additional Receivables, and (vi) the weighted average original term to maturity of each group of Additional Receivables proposed to be pledged to the Collateral Agent shall be at least one month greater than the weighted average remaining term to maturity of such group of Additional Receivables.
