Common use of Conditions Precedent to All Reinvestments Clause in Contracts

Conditions Precedent to All Reinvestments. Each Reinvestment hereunder on or after the Closing Date shall be subject to the conditions precedent that: (a) after giving effect to such Reinvestment, the Servicer shall be holding in trust for the benefit of the Secured Parties an amount of Collections sufficient to pay the sum of (x) all accrued and unpaid Servicing Fees, Interest, Fees and Breakage Fees as of such date, if any, (y) the amount of any Borrowing Base Deficit as of such date and (z) the amount of all other accrued and unpaid Borrower Obligations, in each case, that will be due and owing on the next Settlement Date; (b) the Borrower shall use the proceeds of such Reinvestment solely to pay the purchase price for Receivables purchased by the Borrower in accordance with the terms of the Receivables Sale Agreement; and (c) on the date of such Reinvestment the following statements shall be true and correct (and upon the occurrence of such Reinvestment, the Borrower and the Servicer shall be deemed to have represented and warranted that such statements are then true and correct): (i) the representations and warranties of the Borrower and the Servicer contained in Sections 7.01 and 7.02 are true and correct in all material respects on and as of the date of such Reinvestment as though made on and as of such date unless such representations and warranties by their terms refer to an earlier date, in which case they shall be true and correct in all material respects on and as of such earlier date; (ii) no Event of Default has occurred and is continuing, and no Event of Default would result from such Reinvestment; and (iii) the Termination Date has not occurred.

Conditions Precedent to All Reinvestments. Each Reinvestment hereunder on or after the Closing Date shall be subject to the conditions precedent that: (a) after giving effect to such Reinvestment, the Servicer shall be holding in trust for the benefit of the Secured Parties an amount of Collections sufficient to pay the sum of (x) all accrued and unpaid Servicing Fees, Interest, Fees and Breakage Fees as of such dateFees, if any, (y) the amount of any Borrowing Base Deficit as of such date and (z) the amount of all other accrued and unpaid Borrower Obligations, in each case, that will be due and owing on the next Settlement Date; (b) the Borrower shall use the proceeds of such Reinvestment solely to pay the purchase price for Receivables purchased by the Borrower in accordance with the terms of the Receivables Sale Agreement; and (cb) on the date of such Reinvestment the following statements shall be true and correct (and upon the occurrence of such Reinvestment, the Borrower and the Servicer shall be deemed to have represented and warranted that such statements are then true and correct): (i) the representations and warranties of the Borrower and the Servicer contained in Sections 7.01 (other than the representation and warranty set forth in Section 7.01(z)) and 7.02 (other than the representation and warranty set forth in Section 7.02(x)) are true and correct in all material respects on and as of the date of such Reinvestment as though made on and as of such date unless such representations and warranties by their terms refer to an earlier date, in which case they shall be true and correct in all material respects on and as of such earlier date; (ii) no Termination Event of Default has occurred and is continuing, and no Termination Event of Default would result from such Reinvestment; and (iii) the Termination Date has not occurred.;

Conditions Precedent to All Reinvestments. Each Reinvestment hereunder on or after the Closing Initial Funding Date shall be subject to the conditions precedent that: (a) after giving effect to such Reinvestment, the Servicer Collection Accounts shall be holding in trust for the benefit of the Secured Parties contain an amount of Collections sufficient to pay the sum of (x) all accrued and unpaid Servicing Fees, Interest, Fees and Breakage Fees as of such dateFees, if any, (y) the amount of any Borrowing Base Deficit as of such date and (z) the amount of all other accrued and unpaid Borrower Obligations, in each case, that will be due and owing on the next Settlement Date;; and (b) the Borrower shall use the proceeds of such Reinvestment solely to pay the purchase price for Receivables purchased by the Borrower in accordance with the terms of the Receivables Sale AgreementPurchase Agreement and amounts owing by the Borrower to the Originators under the Subordinated Notes; and (c) on the date of such Reinvestment the following statements shall be true and correct (and upon the occurrence of such Reinvestment, the Borrower and the Servicer shall be deemed to have represented and warranted that such statements are then true and correct): (i) the representations and warranties of the Borrower and the Servicer contained in Sections 7.01 and 7.02 are true and correct in all material respects on and as of the date of such Reinvestment as though made on and as of such date unless such representations and warranties by their terms refer to an earlier date, in which case they shall be true and correct in all material respects on and as of such earlier date; (ii) no Event of Default or Unmatured Event of Default has occurred and is continuing, and no Event of Default or Unmatured Event of Default would result from such Reinvestment; and (iii) the Termination Date has not occurred.

Conditions Precedent to All Reinvestments. Each Reinvestment hereunder on or after the Closing Date shall be subject to the conditions precedent that: : (a) after giving effect to such Reinvestment, the Servicer shall be holding in trust for the benefit of the Secured Parties an amount of Collections sufficient to pay the sum of (x) all accrued and unpaid Servicing Fees, InterestInterest and Fees, Fees and Breakage Fees as in each case, through the date of such date, if anyReinvestment, (y) the amount of any Borrowing Base Deficit as of such date Deficit, and (z) the amount of all other accrued and unpaid Borrower Obligations, in each case, that will be due and owing on Obligations through the next Settlement Date; date of such Reinvestment; (b) the Borrower shall use the proceeds of such Reinvestment solely to pay the purchase price for Receivables purchased by the Borrower in accordance with the terms of the Receivables Sale Purchase Agreement; and and (c) on the date of such Reinvestment the following statements shall be true and correct (and upon the occurrence of such Reinvestment, the Borrower and the Servicer shall be deemed to have represented and warranted that such statements are then true and correct): ): (i) the representations and warranties of the Borrower and the Servicer contained in Sections 7.01 and 7.02 are true and correct in all material respects on and as of the date of such Reinvestment as though made on and as of such date unless such representations and warranties by their terms refer to an earlier date, in which case they shall be true and correct in all material respects on and as of such earlier date; ; (ii) no Event of Default has occurred and is continuing, and no Event of Default would result from such Reinvestment; and (iii) no Borrowing Base Deficit exists or would exist after giving effect to such Reinvestment; and (iv) the Termination Date has not occurred.

Conditions Precedent to All Reinvestments. Each Reinvestment hereunder on or after the Closing Date shall be subject to the conditions precedent that: (a) after giving effect to such Reinvestment, the Servicer shall be holding in trust for the benefit of the Secured Parties an amount of Collections sufficient to pay the sum of (x) all accrued and unpaid Servicing Fees, InterestInterest and Fees, Fees and Breakage Fees as in each case, through the date of such date, if anyReinvestment, (y) the amount of any Borrowing Base Deficit as of such date Deficit, and (z) the amount of all other accrued and unpaid Borrower Obligations, in each case, that will be due and owing on Obligations through the next Settlement Datedate of such Reinvestment; (b) the Borrower shall use the proceeds of such Reinvestment solely to pay the purchase price for Receivables purchased by the Borrower in accordance with the terms of the Receivables Sale Purchase Agreement; and (c) on the date of such Reinvestment the following statements shall be true and correct (and upon the occurrence of such Reinvestment, the Borrower and the Servicer shall be deemed to have represented and warranted that such statements are then true and correct): (i) the representations and warranties of the Borrower and the Servicer contained in Sections 7.01 and 7.02 are true and correct in all material respects on and as of the date of such Reinvestment as though made on and as of such date unless such representations and warranties by their terms refer to an earlier date, in which case they shall be true and correct in all material respects on and as of such earlier date; (ii) no Event of Default has occurred and is continuing, and no Event of Default would result from such Reinvestment; (iii) no Borrowing Base Deficit exists or would exist after giving effect to such Reinvestment; and (iiiiv) the Termination Date has not occurred.

Conditions Precedent to All Reinvestments. Each Reinvestment hereunder on or after the Closing Initial Funding Date shall be subject to the conditions precedent that: (a) after giving effect to such Reinvestment, the Servicer Collection Accounts shall be holding in trust for the benefit of the Secured Parties contain an amount of Collections sufficient to pay the sum of (x) all accrued and unpaid Servicing Fees, Interest, Fees and Breakage Fees as of such dateFees, if any, (y) the amount of any Borrowing Base Deficit as of such date and (z) the amount of all other accrued and unpaid Borrower Obligations, in each case, that will be due and owing on the next Settlement Date;; and (b) the Borrower shall use the proceeds of such Reinvestment solely to pay the purchase price for Receivables purchased by the Borrower in accordance with the terms of the Receivables Sale AgreementPurchase Agreement and amounts owing by the Borrower to the Originators under the Subordinated Notes; and (c) on the date of such Reinvestment the following statements shall be true and correct (and upon the occurrence of such Reinvestment, the Borrower and the Servicer shall be deemed to have represented and warranted that such statements are then true and correct): (i) the representations and warranties of the Borrower and the Servicer contained in Sections 7.01 and 7.02 are true and correct in all material respects on and as of the date of such Reinvestment as though made on and as of such date unless such representations and warranties by their terms refer to an earlier date, in which case they shall be true and correct in all material respects on and as of such earlier date; (ii) no Early Amortization Event, Event of Default or Unmatured Event of Default has occurred and is continuing, and no Early Amortization Event, Event of Default or Unmatured Event of Default would result from such Reinvestment; and (iii) the Termination Date has not occurred.

Conditions Precedent to All Reinvestments. Each Reinvestment hereunder on or after the Closing Date shall be subject to the conditions precedent that: (a) after giving effect to such Reinvestment, the Servicer shall be holding in trust for the benefit of the Secured Parties (which amounts held in trust may be commingled with other funds of the Servicer and its Affiliates in an account other than any Lock-Box Account) an amount of Collections sufficient to pay the sum of (x) all accrued and unpaid Servicing Fees, Interest, Fees and Breakage Fees as of such date, if anyFees, (y) the amount of any Borrowing Base Deficit as of such date and (z) the amount of all other accrued and unpaid Borrower Obligations, in each case, that will be Obligations then due and owing on by the next Settlement Date;Borrower; and (b) the Borrower shall use the proceeds of such Reinvestment solely to pay the purchase price for Receivables purchased by the Borrower in accordance with the terms of the Receivables Purchase and Sale Agreement; and (c) on the date of such Reinvestment the following statements shall be true and correct (and upon the occurrence of such Reinvestment, the Borrower and the Servicer shall be deemed to have represented and warranted that such statements are then true and correct): (i) the representations and warranties of the Borrower and the Servicer contained in Sections 7.01 and 7.02 are true and correct in all material respects on and as of the date of such Reinvestment as though made on and as of such date unless such representations and warranties by their terms refer to an earlier date, in which case they shall be true and correct in all material respects on and as of such earlier date; (ii) no Event of Default or Unmatured Event of Default has occurred and is continuing, and no Event of Default or Unmatured Event of Default would result from such Reinvestment; (iii) no Borrowing Base Deficit exists or would exist after giving effect to such Reinvestment; and (iiiiv) the Termination Date has not occurred.. ARTICLE VII

Conditions Precedent to All Reinvestments. Each Reinvestment hereunder on or after the Closing Date shall be subject to the conditions precedent that: (a) after giving effect to such Reinvestment, the Servicer shall be holding in trust for the benefit of the Secured Parties an amount of Collections sufficient to pay the sum of (x) all accrued and unpaid Servicing Fees, InterestYield, Fees and Breakage Fees as Fees, in each case, through the date of such date, if anyReinvestment, (y) the amount of any Borrowing Base Capital Coverage Deficit as of such date and (z) the amount of all other accrued and unpaid Borrower Obligations, in each case, that will be due and owing on Seller Obligations through the next Settlement Datedate of such Reinvestment; (b) the Borrower Seller shall use the proceeds of such Reinvestment solely to pay the purchase price for Receivables purchased by the Borrower Seller in accordance with the terms of the Receivables Purchase and Sale AgreementAgreements and amounts owing by the Seller to the Originators under the Subordinated Notes; and (c) on the date of such Reinvestment the following statements shall be true and correct (and upon the occurrence of such Reinvestment, the Borrower Seller and the Servicer shall be deemed to have represented and warranted that such statements are then true and correct): (i) the representations and warranties of the Borrower Seller and the Servicer contained in Sections 7.01 and 7.02 are true and correct in all material respects on and as of the date of such Reinvestment as though made on and as of such date unless such representations and warranties by their terms refer to an earlier date, in which case they shall be true and correct in all material respects on and as of such earlier date; (ii) no Event of Default Termination or Unmatured Event of Termination has occurred and is continuing, and no Event of Default Termination or Unmatured Event of Termination would result from such Reinvestment; (iii) no Capital Coverage Deficit exists or would exist after giving effect to such Reinvestment; and (iiiiv) the Termination Date has not occurred.