Common use of Frequency of Computation of Purchaser's Interest Clause in Contracts

Frequency of Computation of Purchaser's Interest. Each Undivided Interest shall initially be computed as of the opening of business of Servicer on the date of Purchase of such Undivided Interest from the Transferor, and such Undivided Interest shall be recomputed upon receipt of each Periodic Report. The Agent on behalf of the Purchaser or the Bank Investors, as the case may be, may at any time request Servicer to recompute its Undivided Interests. In addition, until such Undivided Interest shall be reduced to zero, such Undivided Interest shall be deemed to be automatically recomputed as of the close of business of Servicer on each day (other than a day on which an actual recomputation is done), and, as so recomputed, shall constitute the percentage ownership interest in Pool Receivables held by the Purchaser or the Bank Investors, as the case may be, on such day. Such Undivided Interest shall become zero at such time as the Purchaser, or the Bank Investors, as the case may be, shall have received the accrued Earned Discount for such Undivided Interest, shall have recovered the Purchaser's Investment of such Undivided Interest and shall have received all other amounts payable to the Purchaser or the Bank Investors, as applicable, pursuant to this Agreement in respect of such Undivided Interest and Servicer shall have received the accrued Servicer's Fee for such Undivided Interest. Such Undivided Interest shall remain constant from the time as of which any such computation or recomputation is made until the time as of which the next such recomputations if any, shall be made.

Frequency of Computation of Purchaser's Interest. Each Undivided Interest shall initially be computed by Servicer as of the opening of business of Servicer on the date of Purchase of such Undivided Interest from the TransferorSeller, and such Undivided Interest shall be recomputed upon receipt of each Periodic Report. The Agent on behalf of the Purchaser or the Bank Investors, as the case may be, may at any time request Servicer to recompute its Undivided Interests. In addition, until such Undivided Interest shall be reduced to zero, such Undivided Interest shall be deemed to be automatically recomputed as of the close of business of Servicer on each day (other than a day on which an actual recomputation is done), and, as so recomputed, shall constitute the percentage ownership interest in Pool Receivables held by the Purchaser or Administrative Agent, for the Bank Investors, as the case may bebenefit of Purchaser, on such day. Such Undivided Interest shall become zero at such time as the Purchaser, or the Bank Investors, as the case may be, Purchaser shall have received the accrued Earned Discount for such Undivided Interest, shall have recovered the Purchaser's Investment of such Undivided Interest and shall have received all other amounts payable to the Purchaser or the Bank Investors, as applicable, pursuant to this Agreement in respect of such Undivided Interest and Servicer shall have received the accrued Servicer's Fee for such Undivided Interest. Such Undivided Interest shall remain constant from the time as of which any such computation or recomputation is made until the time as of which the next such recomputations recomputation, if any, shall be made.

Frequency of Computation of Purchaser's Interest. Each Undivided Interest initially shall initially be computed as of the opening of Servicer's business of Servicer on the date of the Purchase of such Undivided Interest from the TransferorSeller. Thereafter, and such Undivided Interest shall be recomputed as of the opening of business on any day on which the Aggregate Investment shall be increased and upon receipt of each Periodic Report using the information in such Periodic Report. The Agent on behalf of the Purchaser or the Bank Investors, as the case may be, may at any time request Servicer to recompute its Undivided Interests. In addition, until such Undivided Interest shall be reduced to zero, such Undivided Interest shall be deemed to be recomputed automatically recomputed as of the close of Servicer's business of Servicer on each day (other than a day on which an actual recomputation is done), and, as so recomputed, shall constitute the percentage ownership interest in Pool Receivables held by the Purchaser or the Bank Investors, as the case may be, on such dayday in the Pool Receivables. Such Undivided Interest shall become zero at such time as the Purchaser, or the Bank Investors, as the case may be, (i) Purchaser shall have received the accrued Earned Discount Return for such Undivided Interest, shall have recovered the Purchaser's Investment of in such Undivided Interest and shall have received all other amounts payable to the Purchaser or the Bank Investors, as applicable, pursuant to this Agreement in respect of such Undivided Interest Interest, (ii) the Agent shall have received all amounts payable to the Agent pursuant to this Agreement and (iii) Servicer shall have received the accrued Servicer's Fee for allocated to such Undivided Interest. Such Each Undivided Interest shall remain constant, and the Net Pool Balance shall be deemed to remain constant for purposes of computing such Undivided Interest, from the time as of which any such computation or recomputation is made until the time as of which the next such recomputations recomputation, if any, shall be made.

Frequency of Computation of Purchaser's Interest. Each Undivided Interest initially shall initially be computed as of the opening of Servicer's business of Servicer on the date of the Purchase of such Undivided Interest from the TransferorSeller. Thereafter, and such Undivided Interest shall be recomputed as of the opening of business on any day on which the Aggregate Investment shall be increased and upon receipt of each Periodic Report using the information in such Periodic Report. The Agent on behalf of the Purchaser or the Bank Investors, as the case may be, may at any time request Servicer to recompute its Undivided Interests. In addition, until such Undivided Interest shall be reduced to zero, such Undivided Interest shall be deemed to be recomputed automatically recomputed as of the close of Servicer's business of Servicer on each day (other than a day on which an actual recomputation is done), and, as so recomputed, shall constitute the percentage ownership interest in Pool Receivables held by the Purchaser or the Bank Investors, as the case may be, on such dayday in the Pool Receivables. Such Undivided Interest shall become zero at such time as (i) the Purchaser, or the Bank Investors, as the case may be, Purchaser shall have received the accrued Earned Discount Return for such Undivided Interest, shall have recovered the Purchaser's Investment of in such Undivided Interest and shall have received all other amounts payable to the Purchaser or the Bank Investors, as applicable, pursuant to this Agreement in respect of such Undivided Interest and Interest, (ii) the Agent shall have received all amounts payable to the Agent pursuant to this Agreement, (iii) Servicer shall have received the accrued Servicer's Fee for allocated to such Undivided InterestInterest and (iv) all other amounts payable by the Seller in connection with such Undivided Interest are paid. Such Each Undivided Interest shall remain constant, and the Net Pool Balance shall be deemed to remain constant for purposes of computing such Undivided Interest, from the time as of which any such computation or recomputation is made until the time as of which the next such recomputations recomputation, if any, shall be made.

Frequency of Computation of Purchaser's Interest. Each Undivided Interest shall initially be computed by Servicer as of the opening of business of Servicer on the date of Purchase of such Undivided Interest from the TransferorSeller, and such Undivided Interest shall be recomputed upon receipt of each Periodic Report. The Agent on behalf of the Purchaser or the Bank Investors, as the case may be, may at any time request Servicer to recompute its Undivided Interests. In addition, until such Undivided Interest shall be reduced to zero, such Undivided Interest shall be deemed to be automatically recomputed as of the close of business of Servicer on each day (other than a day on which an actual recomputation is done), and, as so recomputed, shall constitute the percentage ownership interest in Pool Receivables held by the Purchaser or the Bank Investors, as the case may be, on such day. Such Undivided Interest shall become zero at such time as the Purchaser, or the Bank Investors, as the case may be, Purchaser shall have received the accrued Earned Discount for such Undivided Interest, shall have recovered the Purchaser's Investment of such Undivided Interest and shall have received all other amounts payable to the Purchaser or the Bank Investors, as applicable, pursuant to this Agreement in respect of such Undivided Interest and Servicer shall have received the accrued Servicer's Fee for such Undivided Interest. Such Undivided Interest shall remain constant from the time as of which any such computation or recomputation is made until the time as of which the next such recomputations recomputation, if any, shall be made.