Incremental Fundings. (a) Subject to the terms and conditions of this Note Purchase Agreement and the Indenture Supplement, from time to time, pursuant to Section 4.09 of the Indenture Supplement, (i) the Agent, on behalf of the related Conduit Purchaser, and in the sole and absolute discretion of the related Conduit Purchaser, may make Incremental Fundings and (ii) if the related Conduit Purchaser elects not to make an Incremental Funding, the related Committed Purchaser and its permitted assigns severally agree to make their respective Purchaser Percentages of such Incremental Funding; provided, however, that no Committed Purchaser shall be required to make a portion of any Incremental Funding if, after giving effect thereto, its Purchaser Percentage of the Class A Note Principal Balance would exceed its Purchaser Percentage of the Class A Note Maximum Principal Balance.
(b) Except as otherwise provided in this Section 2.03(b), all purchases of Incremental Fundings under this Note Purchase Agreement shall be made by the Purchasers simultaneously and proportionately based on the respective Purchaser Percentage of such Purchaser’s Purchaser Group, it being understood that no Purchaser shall be responsible for any default by any other Purchaser with respect to such other Purchaser’s obligation to purchase an Incremental Funding hereunder. If, on any Incremental Funding Date, any Purchaser defaults in the performance of its obligations under this Note Purchase Agreement and fails to take up and pay for the amount of any Incremental Funding agreed by such Purchaser to be purchased under this Note Purchase Agreement, then the non-defaulting Purchasers may, but shall not be obligated to, take up and pay for such Incremental Funding that the defaulting Purchaser agreed but failed to purchase. Nothing contained herein shall relieve a defaulting Purchaser of any liability it may have to the Transferor or the non-defaulting Purchasers for damages caused by its default or to prejudice any rights that any Agent, any Purchaser or the Transferor may have against the Purchaser as a result of any default by the Purchaser hereunder.
Incremental Fundings. Incremental Fundings may occur on any Funding Change Date in accordance with the Note Purchase Agreement. Upon any Incremental Funding, the Funded Amount, the Series Allocation Percentage and the Floating Allocation Percentage shall be reset to the extent provided herein or in the Indenture.
Incremental Fundings. 1 ------------ SECTION 1.
Incremental Fundings. (i) From time to time during the Revolving Period and prior to the Purchase Commitment Expiration Date, Transferor and Servicer may notify one or more Class A Holders that a Class A Incremental Funding will occur, subject to the conditions of the Class A Certificate Purchase Agreement on the next or any subsequent Business Day by delivering a Notice of Class A Incremental Funding executed by Transferor and Servicer to the Class A Funding Agent for each such Class A Holder, specifying the amount of such Class A Incremental Funding allocated to each Class A Ownership Interest and the Business Day upon which such Class A Incremental Funding is to occur; provided that a Class A Incremental Funding shall not be requested from a Class A Funding Agent for a Class A Ownership Interest that is a Non-Renewing Ownership Group if the Class A Incremental Funding would occur on or after the Purchase Commitment Expiration Date (without giving effect to any requested extension of the Purchase Commitment Expiration Date to which the related Non-Renewing Ownership Group did not consent). At any time that a Pro Rata Funding Event has occurred and is continuing, the amount of each Class A Incremental Funding shall be allocated among the Class A Ownership Interests on a pro rata basis based on their respective Class A Ownership Group Percentages; provided that if a Pro Rata Funding Event has occurred and is continuing, the amount of the Class A Incremental Funding may be allocated among the Class A Ownership Interests on a non-pro rata basis if such allocation results in a Pro Rata Allocation among the Class A Ownership Interests on or before the Delayed Funding Date with respect to the related Notice of Class A Incremental Funding, after giving effect to the Class A Incremental Funding, and any Class A Incremental Funding to occur on or before such Delayed Funding Date and any Optional Amortization Amount requested to be allocated to one or more Class A Ownership Interests on or before such Delayed Funding Date. Upon any Class A Incremental Funding, the Class A Floating Allocation Percentage, the Class A Invested Amount, the Floating Allocation Percentage and the Invested Amount shall increase as provided herein. The increase in the Class A Invested Amount and the Class A Funded Amount shall be allocated to the Class A Certificates held by the Class A Holders from which purchase prices were received in connection with the Class A Incremental Funding in proportion to the amoun...
Incremental Fundings. Incremental Fundings may occur on any Business Day to the extent provided in the Note Purchase Agreement. Upon any Incremental Funding, the Series 2010-VFN Outstanding Principal Amount, the Series 2010-VFN Nominal Liquidation Amount, the Series 2010-VFN Overcollateralization Amount, the Series 2010-VFN Collateral Amount and other terms will be reset to the extent provided herein and in the Note Purchase Agreement.
Incremental Fundings. 11 SECTION 2.04 Extension of Purchase Expiration Date........................................................... 13 SECTION 2.05 Reduction of Maximum Funded Amount.............................................................. 13 SECTION 2.06 Calculation of Monthly Interest................................................................. 13 ARTICLE III
Incremental Fundings. 7 Section 2.04. Extension of Purchase Expiration Date......................
Incremental Fundings. (a) Subject to the terms and conditions of this Agreement and the Indenture Supplement, from time to time prior to the Purchase Expiration Date upon receipt by the Purchaser of a Notice of Incremental Funding, the Purchaser, in its sole and absolute discretion, may make Incremental Fundings.
(b) Each Incremental Funding shall be subject to the following conditions precedent that:
(i) the Increase Conditions shall have been satisfied;
(ii) the Transferor and the Servicer shall be in compliance in all material respects with all of their respective covenants contained in the Series Documents; and
(iii) at least three Business Days prior to the Incremental Funding Date, the Purchaser shall have received a Notice of Incremental Funding.
(c) Each Incremental Funding shall be requested in an aggregate principal amount of $2,000,000 and integral multiples of $500,000 in excess thereof; provided, that an Incremental Funding may be requested in the entire remaining Series 2004-1 Maximum Principal Balance.
(d) The purchase price of each Incremental Funding shall equal 100% of the Series 2004-1 Incremental Funded Amount and shall be paid not later than 1:00 p.m. New York City time on the Incremental Funding Date by wire transfer of immediately available funds to the Transferor's Account.
Incremental Fundings. 2 SECTION 1.03 Optional Early Pay Out....................................................... 2 ARTICLE II DEFINITIONS............................................................................... 3 SECTION 2.01 Definitions.................................................................. 3
Incremental Fundings. Incremental Fundings may occur on any Distribution Date to the extent provided in the Certificate Purchase Agreement. Upon any Incremental Funding, the Funded Amount, the Series Allocation Percentage, the Floating Allocation Percentage and other terms will be reset to the extent provided herein and in the Certificate Purchase Agreement.
