Interim Liquidations. (a) Optional. The Seller may at any time direct that Reinvestment Purchases cease and that an Interim Liquidation commence for all Purchasers by giving the Agent and the Collection Agent at least three Business Days' written (including telecopy or other facsimile communication) notice specifying the date on which the Interim Liquidation shall commence and, if desired, when such Interim Liquidation shall cease before the Liquidity Termination Date (identified as a specific date or as when the Aggregate Investment is reduced to a specified amount). If the Seller does not so specify the date on which an Interim Liquidation shall cease, it may cause such Interim Liquidation to cease at any time before the Liquidity Termination Date, subject to Section 1.2(b) below, by notifying the Agent and the Collection Agent in writing (including by telecopy or other facsimile communication) at least three Business Days before the date on which it desires such Interim Liquidation to cease.
Interim Liquidations. 3 Section 1.3.
Interim Liquidations. 4 Section 1.3. Selection of Discount Rates and Tranche Periods........................4 Section 1.4. Fees and Other Costs and Expenses......................................4 Section 1.5. Maintenance of Sold Interest; Deemed Collection........................4 Section 1.6. Reduction in Commitments...............................................5 Section 1.7. Repurchases............................................................5 Section 1.8. Security Interest......................................................5 ARTICLE II SALES TO AND FROM CONDUIT PURCHASERS; ALLOCATIONS......................6 Section 2.1. Required Purchases from a Conduit Purchaser............................6 Section 2.2. Purchases by a Conduit Purchaser.......................................7 Section 2.3. Allocations and Distributions..........................................7
Interim Liquidations. 3 Section 1.3. Selection of Discount Rates and Tranche Periods....................................... 3 Section 1.4. Fees and Other Costs and Expenses..................................................... 4 Section 1.5. Maintenance of Sold Interest; Deemed Collection....................................... 4 Section 1.6. Reduction in Commitments.............................................................. 5 Section 1.7.
Interim Liquidations. 3 Section 1.3. Selection of Discount Rates and Tranche Periods........................................................3 Section 1.4. Fees and Other Costs and Expenses....
Interim Liquidations. 3 Section 1.3. Section of Discount Rates and Tranche Periods..........
Interim Liquidations. On each day during any Interim Liquidation with respect to any Purchaser, the Servicer shall set aside and hold solely for the account of the related Purchaser Agent, for the benefit of such Purchaser, to the extent provided below (or deliver to such Purchaser Agent, if so instructed pursuant to Section 3.2(a)) and for the account of the Agent, all Collections received on such day and such portion of Collections shall be allocated as follows:
(i) first, if such date is a Settlement Date, the Servicer Fee owing to the Servicer;
(ii) second, ratably to each Purchaser all Discount due to each Purchaser;
(iii) third, ratably to each Purchaser for which an Interim Liquidation has been declared based on the ratio each such Purchaser’s outstanding Investment bears to the aggregate Investments of all Purchasers for which an Interim Liquidation has been declared until the Investment of each such Purchaser has been paid in full;
(iv) fourth, ratably to each Purchaser Group until all other amounts (other than Investment) owed to each Purchaser Group under the Transaction Documents have been paid in full;
(v) fifth, ratably to the Agent and such Purchaser Agent until all amounts owed to such Persons under the Transaction Documents have been paid in full;
(vi) sixth, to any other Person to whom any amounts are owed (other than Investment) under the Transaction Documents until all such amounts have been paid in full; and
(vii) seventh, to the Seller (or as otherwise required by applicable law). Unless an Interim Liquidation has ended by such date (in which case Reinvestment Purchases shall resume to the extent provided in Section 1.1(d)), on each Settlement Date (unless otherwise instructed by a Purchaser Agent pursuant to Section 3.2(a)), the Servicer shall pay to the appropriate parties, from such set aside Collections, all amounts allocated to the related Settlement Period and all Settlement Periods that ended before such date, due in accordance with the priorities in clauses (i), (ii) and (iii) above. Amounts held in any Purchaser Agent’s account shall be invested in Permitted Investments pending distribution, and all proceeds of such Permitted Investments shall be distributed as Collections as provided in this Section 2.3(b). No distributions shall be made to pay amounts under clauses (v), (vi) and (vii) above until sufficient Collections have been set aside to pay all amounts described in clauses (i), (ii), (iii) and (iv) that may become payable for all outstandin...
Interim Liquidations
