Committed Purchaser Funding. Each Committed Purchaser Interest shall accrue Yield for each day during its Tranche Period at either the LIBO Rate or the Alternate Base Rate in accordance with the terms and conditions hereof. Until Seller gives notice to the Administrative Agent of another Discount Rate in accordance with Section 4.4, the initial Discount Rate for any Committed Purchaser Interest shall be the Alternate Base Rate. If any Funding Source acquires by assignment from a Conduit any Purchaser Interest pursuant to any Funding Agreement, each Purchaser Interest so assigned shall each be deemed to have a new Tranche Period commencing on the date of any such assignment and shall accrue Yield for each day during its Tranche Period at either the LIBO Rate or the Alternate Base Rate in accordance with the terms and conditions hereof as if each such Purchaser Interest was held by a Committed Purchaser, and with respect to each such Purchaser Interest, the assignee thereof shall be deemed to be a Committed Purchaser solely for the purposes of Sections 4.1, 4.2, 4.3, 4.4 and 4.5.
Committed Purchaser Funding. Each Receivable Interest of the Committed Purchasers in a Group shall accrue Discount for each day during its Tranche Period at the LIBOR Rate, the Base Rate or, from and after the occurrence of a Servicer Default and during the continuance thereof, the Default Rate in accordance with the terms and conditions hereof. Until the Seller gives notice to the applicable Co-Agent of another Discount Rate in accordance with Section 1.7.4, the initial Discount Rate for any Receivable Interest transferred to the Committed Purchasers in a Group pursuant to the terms and conditions hereof, and the new Discount Rate for any Terminating Tranche, shall be the Base Rate and the applicable Tranche Period shall be a period of one Business Day commencing on the day requested in the Purchase Notice or on the last day of a Terminating Tranche, as applicable. If the Committed Purchasers in a Group acquire by assignment from the applicable Conduit any Receivable Interest pursuant to a Liquidity Agreement, the applicable Co-Agent shall promptly notify Seller of such fact and each Receivable Interest so assigned shall each be deemed to have a new Tranche Period commencing on the date of any such assignment.
Committed Purchaser Funding. Subject to Section 4.5, for each day prior to the occurrence and during the continuance of an Amortization Event, each Receivables Interest shall accrue Yield (i) in the case of Xxxxx Fargo, for each day prior to the occurrence of an Amortization Event, at LMIR or, solely if LMIR becomes unavailable or illegal as described in Section 4.5, the Alternate Base Rate, and (ii) in the case of the Gotham Committed Purchaser, for each day during its Tranche Period at either the LIBO Rate or the Alternate Base Rate, in each case in accordance with the terms and conditions hereof. Unless and until Seller gives notice to the Gotham Group Agent of another Discount Rate in accordance with Section 4.4, the initial Discount Rate for any Receivables Interest of the Gotham Committed Purchaser (whether purchased directly from Seller or transferred by the Conduit to the Gotham Committed Purchaser pursuant to the terms and conditions of its Liquidity Agreement) shall be the Alternate Base Rate. Each Receivables Interest acquired by the Gotham Committed Purchaser by assignment from the Conduit shall be deemed to have a new Tranche Period commencing on the date of any such assignment.
Committed Purchaser Funding. Section 4.2 Yield Payments Section 4.3 Selection and Continuation of Tranche Periods
Committed Purchaser Funding. Capital funded by the Committed Purchasers in a Group shall accrue Yield for each day during each Tranche Period at either the LIBO Rate, the Transaction Rate or the Prime Rate in accordance with the terms and conditions hereof. Until Seller gives notice to the applicable Co-Agent of another Discount Rate in accordance with Section 4.4, the initial Discount Rate for any interest in a Purchaser Interest transferred to the Committed Purchasers in a Group by the applicable Conduit pursuant to the terms and conditions of any Liquidity Agreement shall be the Prime Rate. If the Committed Purchasers in a Group acquire by assignment from the applicable Conduit any interest in a Purchaser Interest pursuant to a Liquidity Agreement, Capital allocable to each interest so assigned shall each be deemed to have a new Tranche Period commencing on the date of any such assignment.
Committed Purchaser Funding. The Capital associated with each Purchaser Interest funded by the Committed Purchasers shall accrue Yield for each day during its Tranche Period at either the LIBO Rate or the Prime Rate in accordance with the terms and conditions hereof. If any Committed Purchaser acquires by assignment from the Conduit Purchaser in its Purchase Group all or any portion of a Purchaser Interest (or an undivided interest therein) pursuant to such Conduit Purchaser’s Liquidity Agreement, then (i) until Seller gives notice to the applicable Managing Agent of another Discount Rate in accordance with Section 4.4, the initial Discount Rate for any such Purchaser Interest (or portion thereof or interest therein) so transferred to the Committed Purchasers shall be the Prime Rate and (ii) until a new Tranche Period is selected in accordance with Section 4.3, each such Purchaser Interest shall be deemed to have a new Tranche Period commencing on the date of such transfer.
Committed Purchaser Funding. (a) In the event that BTMU purchases its Purchaser Group’s Percentage of any Receivable Interest pursuant to Section 1.1(a)(ii)(B) or purchases all or any portion of its Conduit Purchaser’s investment in the Receivable Interest pursuant to its Liquidity Agreement, BTMU shall allocate its Capital to one or more Interest Periods selected in consultation with Seller.
(b) The outstanding Capital of each investment in the Receivable Interests that was not funded through the issuance of Commercial Paper (including, without limitation, each investment of a Conduit Purchaser that is put to its liquidity provider(s) under its Liquidity Agreement) shall accrue Yield for each day at a rate per annum equal to (i) in the case of Xxxxx, LMIR (or, if LMIR is unavailable or has been suspended pursuant to Section 1.8, at the Alternate Base Rate), and (ii) in the case of BTMU, for each Interest Period, the Adjusted BTMU LIBO Rate for such Interest Period for the portion of BTMU’s Capital that is allocated thereto (or, if the BTMU LIBO Rate is unavailable or has been suspended pursuant to Section 1.8, at the Alternate Base Rate).
(c) Not later than the 5th Business Day of each month, each Co-Agent shall calculate the aggregate amount of Yield (if any) payable to the members of its Purchaser Group for the Calculation Period then most recently ended (including unpaid Yield, if any, due and payable on a prior Monthly Payment Date) and shall notify Seller (and, from and after the Dominion Date, the Administrative Agent) of such aggregate amount.
(d) On each Monthly Payment Date, Seller shall pay to each such Co-Agent (for the benefit of the applicable Purchaser(s) in its Purchaser Group) the aggregate amount of such accrued and unpaid Yield.
Committed Purchaser Funding. The Capital associated with each Purchaser Interest funded by a Committed Purchaser shall accrue Yield for each day during each Tranche Period at either the LIBO Rate or the Base Rate in accordance with the terms and conditions hereof. Each Term-out Period Advance shall accrue Yield for each day during its Tranche Period at either the LIBO Rate or the Base Rate in accordance with the terms hereof. Until Seller gives notice to the Funding Agent of such Committed Purchaser of another Discount Rate in accordance with Section 4.4, the initial Discount Rate for any interest in the Purchaser Interest transferred to any Committed Purchaser by a Conduit in its Purchaser Group pursuant to the terms and conditions hereof shall be the Base Rate. If a Committed Purchaser acquires by assignment from a Conduit in its Purchaser Group any interest in the Purchaser Interest pursuant to a Funding Agreement, each interest in the Purchaser Interest so assigned shall each be deemed to have a new Tranche Period commencing on the date of any such assignment.
Committed Purchaser Funding. Each Receivable Interest of any Group’s Committed Purchaser(s) shall accrue Yield for each day during its Interest Period at either the LIBO Rate or the Alternate Base Rate in accordance with the terms and conditions hereof. Until Seller gives notice to the applicable Co-Agent of another Yield Rate in accordance with Section 4.4, the initial Yield Rate for any Receivable Interest transferred by a Conduit to its Committed Purchasers pursuant to the terms and conditions of its Liquidity Agreement, or funded by its Committed Purchaser(s) pursuant to this Agreement, shall be the Alternate Base Rate. If any Conduit’s Committed Purchaser(s) acquire(s) by assignment from such Conduit any Receivable Interest pursuant to the applicable Liquidity Agreement, each Receivable Interest so assigned shall each be deemed to have a new Interest Period commencing on the date of any such assignment.
Committed Purchaser Funding. Section 4.1. Committed Purchaser Funding Section 4.2. Yield Payments Section 4.3. Suspension of LMIR
