Common use of DIVIDEND OF INELIGIBLE RECEIVABLES Clause in Contracts

DIVIDEND OF INELIGIBLE RECEIVABLES. The Issuer may on the last day of the month in which any Receivables are sold into a securitization transaction distribute any Ineligible Receivables to the Seller as a dividend, free of the deemed security interest referred to in Section 2.2 hereof; PROVIDED THAT there is no Borrowing Base Deficiency immediately after such dividend.

DIVIDEND OF INELIGIBLE RECEIVABLES. The Issuer may may, on the last day of the month in which any Receivables are sold into a securitization transaction transaction, distribute any Ineligible Receivables to the Seller as a dividend, free of the deemed security interest referred to in Section 2.2 hereof; PROVIDED THAT there is no Borrowing Base Deficiency immediately after on such dividenddate.

DIVIDEND OF INELIGIBLE RECEIVABLES. The Issuer may may, on the last day of the month in which any Receivables are sold into a securitization transaction or on the last day of each calendar quarter during the term of this Agreement, distribute any Ineligible Receivables to the Seller as a dividend, free of the deemed security interest referred to in Section 2.2 hereof; PROVIDED THAT there is no Borrowing Base Deficiency immediately after on such dividend.date. ARTICLE VI ---------- [RESERVED] ----------

DIVIDEND OF INELIGIBLE RECEIVABLES. The Issuer may may, on the last day of the month in which any Receivables are sold into a securitization transaction transaction, distribute any Ineligible Receivables to the Seller as a dividend, free of the deemed security interest referred to in Section 2.2 hereof; PROVIDED THAT provided that there is no Borrowing Base Deficiency immediately after such dividend.