Common use of Conditions Precedent to Initial Incremental Purchase Clause in Contracts

Conditions Precedent to Initial Incremental Purchase. The initial Incremental Purchase of a Purchaser Interest under this Agreement is subject to the conditions precedent (a) that the Administrative Agent shall have received on or before the date of such purchase: (i) the satisfactory report of the Administrative Agent’s auditors; (ii) those documents listed on Schedule B; (iii) a pro forma Monthly Report covering the immediately preceding Accrual Period and (iv) all fees and expenses required to be paid on such date pursuant to the terms of this Agreement and the Fee Letter and (b) the Servicer shall have complied (and have caused Transferors to comply) with the requirements of Section 7.1(e).

Conditions Precedent to Initial Incremental Purchase. The initial Incremental Purchase of a Purchaser Interest under this Agreement is subject to the conditions precedent (a) that the Administrative Agent shall have received on or before the date of such purchase: : (i) the satisfactory report of the Administrative Agent’s 's auditors; (ii) those documents listed on Schedule B; (iii) a pro forma Monthly Report covering the immediately preceding Accrual Period and (iv) all fees and expenses required to be paid on such date pursuant to the terms of this Agreement and the Fee Letter and (b) the Servicer shall have complied (and have caused Transferors the Originators to comply) with the requirements of Section 7.1(e).