Conditions Precedent to Subsequent Contributions or Sales Sample Clauses

Conditions Precedent to Subsequent Contributions or Sales. Each contribution or sale after the Initial Contribution shall be subject to the further conditions precedent that: (a) the Termination Date shall not have occurred; and (b) on the date such Transferred Receivable came into existence, the following statement shall be true (and acceptance of the Transfer Consideration for such Transferred Receivable shall constitute a representation and warranty by the applicable Originator that such statements is then true): the representations and warranties set forth in Article III are true and correct in all material respects (without duplicating materiality standards in such representations and warranties) on and as of the date such Transferred Receivable came into existence as though made on and as of such date, except to the extent such representations and warranties are expressly limited to an earlier date. Notwithstanding the foregoing conditions precedent, upon delivery of the Transfer Consideration for any Transferred Receivable, title to such Transferred Receivable and the Related Security and Collections with respect thereto shall vest in Transferee, whether or not the conditions precedent to Transferee’s obligation to deliver the Transfer Consideration for such Transferred Receivable were in fact satisfied. The failure of any Originator to satisfy any of the foregoing conditions precedent, however, shall give rise to a right of Transferee to rescind the related sale or contribution and (i) (in the case of a contribution) reduce the value of SPV Holdco’s equity interest in Transferee and the Originator’s equity interest in SPV Holdco, or (ii) (in the case of a sale for which the Transfer Consideration was a Subordinated Note) reduce the outstanding principal amount of such Subordinated Note, or (iii) (in the case of a sale for which the Transfer Consideration was cash) a right of the Transferee to receive a Transfer Consideration Indemnification Payment in respect of such Transferred Receivable. Any such reduction or such Transfer Consideration Indemnification Payment shall be in an amount equal to the Transfer Consideration (and corresponding to the type thereof) that shall have been delivered with respect to any Transferred Receivables related thereto.
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Related to Conditions Precedent to Subsequent Contributions or Sales

  • Conditions Precedent to Effective Date This Agreement shall become effective on the date (such date, the “Effective Date”) when each of the following conditions is satisfied (or waived) in accordance with the terms herein:

  • Conditions Precedent to All Loans Each Lender’s obligations to make each Loan is subject to the following conditions precedent:

  • Conditions Precedent to Effectiveness of Agreement Each of the following is a condition precedent to the effectiveness of this Agreement:

  • Conditions Precedent to Effectiveness This Agreement shall become effective on and as of the first date (the “Effective Date”) on which the following conditions precedent have been satisfied:

  • CONDITIONS PRECEDENT TO SELLER'S PERFORMANCE The obligations of Seller to sell and transfer the Assets under this Agreement are subject to the satisfaction, at or before the Closing, of all the following conditions:

  • Conditions Precedent to Effectiveness of this Agreement This Agreement shall become effective on and as of the date hereof (the “Effective Date”), provided that the following conditions precedent have been satisfied on such date:

  • Conditions Precedent to Effectiveness of Section 2.01 Section 2.01 of this Agreement shall become effective on and as of the first date (the “Effective Date”) on which the following conditions precedent have been satisfied:

  • Conditions Precedent to All Credit Events The obligation of each Lender to make Loans (including Loans made on the Initial Borrowing Date), and the obligation of each Issuing Lender to issue Letters of Credit (including Letters of Credit issued on the Initial Borrowing Date), is subject, at the time of each such Credit Event (except as hereinafter indicated), to the satisfaction of the following conditions:

  • Conditions Precedent to Obligations to Consummate 9.1 Conditions to Obligations of Each Party. -------------------------------------------- The respective obligations of each Party to perform this Agreement and consummate the Merger and the other transactions contemplated hereby are subject to the satisfaction of the following conditions, unless waived by both Parties pursuant to Section 11.6:

  • Conditions Precedent to All Purchases Each Purchase (including the initial Purchase) hereunder shall be subject to the further conditions precedent that:

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