Dividing or Combining Asset Interests. The Deal Agent may, with the consent of a Purchaser, take any of the following actions at the end of such Fixed Period with respect to any Asset Interest: (i) divide the Asset Interest owned by such Purchaser into two or more portions of Asset Interests having aggregate Capital equal to the Capital of such divided Asset Interest, (ii) combine one portion of an Asset Interest of such Purchaser with another portion of an Asset Interest of such Purchaser with a Fixed Period ending on the same day, creating a new portion of an Asset Interest having Capital equal to the Capital of the two portions of Asset Interest combined or (iii) combine the Asset Interest of such Purchaser with the Asset Interest to be purchased on such day by such Purchaser, creating a new Asset Interest having Capital equal to the Capital of the two Asset Interests combined; provided, that an Asset Interest of VFCC may not be combined with an Asset Interest of the Investors.
Appears in 6 contracts
Samples: Loan Purchase and Servicing Agreement (First International Bancorp Inc), Loan Purchase and Servicing Agreement (First International Bancorp Inc), Receivables Purchase Agreement (Fidelity Leasing Inc)
Dividing or Combining Asset Interests. The Deal Agent may, with the consent of a Purchaser, take any of the following actions at the end of such Fixed Period with respect to any Asset Interest: (i) divide the Asset Interest owned by such a Purchaser into two or more portions of Asset Interests having aggregate Capital equal to the Capital of such divided Asset Interest, (ii) combine one portion of an Asset Interest of such a Purchaser with another portion of an Asset Interest of such Purchaser with a Fixed Period ending on the same day, creating a new portion of an Asset Interest having Capital equal to the Capital of the two portions of Asset Interest combined or (iii) combine the Asset Interest of such a Purchaser with the Asset Interest to be purchased on such day by such Purchaser, creating a new Asset Interest having Capital equal to the Capital of the two Asset Interests combined; provided, that an Asset Interest of VFCC may not be combined with an Asset Interest of the Investors.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Fidelity Leasing Inc), Receivables Purchase Agreement (Resource America Inc)
