Common use of Determination of Contributed Receivables Clause in Contracts

Determination of Contributed Receivables. Prior to the delivery of an Election Notice, on each Transfer Date on which Buyer cannot pay the Sale Price therefor in cash or with Subordinated Loans pursuant to clause (c) above, the Parent shall identify Receivables then owned by it which have not been previously acquired by Buyer other than the Excluded Receivables, and shall, prior to the delivery of an Election Notice, contribute such Receivables as a capital contribution to Buyer (each such contributed Receivable, individually, a “Contributed Receivable,” and collectively, the “Contributed Receivables”). Notwithstanding the foregoing, the Parent shall not be obligated to make additional contributions to Buyer at any time. If on any Transfer Date (i) the Parent elects not to contribute Receivables (other than the Excluded Receivables) to Buyer when Buyer cannot pay the Sale Price therefor in cash or through Subordinated Loans, or (ii) any Originator (other than the Parent) does not sell all of its then owned Receivables to Buyer other than the Excluded Receivables, such Originator shall deliver to Buyer not later than 5:00 p.m. (New York time) on the Business Day immediately preceding such Transfer Date a notice of election thereof (each such notice, an “Election Notice”).

Determination of Contributed Receivables. Prior to the delivery of an Election Notice, on each Transfer Date on which Buyer cannot pay the Sale Price therefor therefore in cash or with Subordinated Loans pursuant to clause (c) aboveLoans, the Parent Member shall identify Receivables then owned by it which have not been previously acquired by Buyer other than the Excluded ReceivablesBuyer, and shallmay, prior to the delivery of an Election Notice, contribute such Receivables as a capital contribution to the Buyer (each such contributed Receivable, individually, a “Contributed Receivable,” and collectively, the “Contributed Receivables”), to the extent Buyer cannot so pay the Sale Price therefor in cash or through Subordinated Loans. Notwithstanding the foregoinganything herein or in any other Related Document, the Parent Member shall not be obligated to make additional contributions to Buyer at any time. If on any Transfer Date (i) the Parent Member elects not to contribute Receivables (other than the Excluded Receivables) to Buyer when the Buyer cannot pay the Sale Price therefor therefore in cash or through Subordinated Loans, or (ii) any Originator (other than the ParentMember) does not sell all of its then owned Receivables to Buyer other than the Excluded ReceivablesBuyer, such Originator shall deliver to Buyer not later than 5:00 p.m. (New York time) on the Business Day immediately preceding such Transfer Date a notice of election thereof (each such notice, an “Election Notice”). Notwithstanding the foregoing, no Election Notice shall be deemed to be delivered for purposes of this clause (d) if, in connection with an Election Notice, an Originator will no longer sell all of its Receivables in connection with an Originator Disposition and Buyer shall comply with Section 2.04(b) of the Funding Agreement in respect of any related repurchase of Transferred Receivables reasonably promptly thereafter.