Auto Loan Refinancing Clause Samples
Auto Loan Refinancing. Notwithstanding Section 2.5 above or any other provision of this Agreement, if in any calendar month the aggregate Outstanding Receivables Balance of Receivables repaid early because they were refinanced into automobile loans originated by the Seller or an Affiliate thereof exceeds $50,000, then the Seller shall sell to the Purchaser Similar Replacement Loans with a purchase price of par plus accrued interest within fifteen (15) days after the applicable month end.
Auto Loan Refinancing. Section 2.8 is hereby added at the end of Article II of the Original Purchase Agreement to read in its entirety as follows: