Liquidity Fundings. Prior to the occurrence of a Liquidation Event, the outstanding Invested Amount of each Receivable Interest funded with a Liquidity Funding shall accrue Yield for each day during its Interest Period at either the LIBO Rate or the Alternate Base Rate in accordance with the terms and conditions hereof. Until the Seller gives the required notice to the Administrative Agent of another Yield Rate in accordance with SECTION 4.4, the initial Yield Rate for any Receivable Interest funded with a Liquidity Funding shall be the Alternate Base Rate (unless the Default Rate is then applicable). If any undivided interest in a Receivable Interest initially funded with Commercial Paper is sold to the Liquidity Banks pursuant to the Liquidity Agreement, such undivided interest in such Receivable Interest shall be deemed to have a Interest Period commencing on the date of such sale.
Liquidity Fundings. 7 SECTION 4.1
Liquidity Fundings. Prior to the occurrence of an Amortization Event, the outstanding Invested Amount of each Purchased Asset funded with a Liquidity Funding shall accrue Yield for each day during its Interest Period at either the LIBO Rate or the Alternate Base Rate in accordance with the terms and conditions hereof. Until the Administrator gives notice to the Seller of another Yield Rate in accordance with Section 4.4, the initial Yield Rate for any Purchased Asset funded with a Liquidity Funding shall be the LIBO Rate (unless the Default Rate is then applicable). If any Purchased Asset initially funded with Commercial Paper is sold to the Liquidity Banks pursuant to the Liquidity Agreement, such Purchased Asset shall be deemed to have an Interest Period commencing on the date of such sale.
Liquidity Fundings. 7 SECTION 4.2 YIELD PAYMENTS............................................................. 8 SECTION 4.3 SELECTION AND CONTINUATION OF INTEREST PERIODS............................. 8 SECTION 4.4 LIQUIDITY FUNDING YIELD RATES.............................................. 8 SECTION 4.5 SUSPENSION OF THE LIBO RATE................................................ 8 SECTION 4.6
Liquidity Fundings. .............................................................................7 SECTION 4.1 LIQUIDITY FUNDINGS......................................................................7 SECTION 4.2 YIELD PAYMENTS..........................................................................7 SECTION 4.3 SELECTION AND CONTINUATION OF INTEREST PERIODS..........................................7 SECTION 4.4 LIQUIDITY FUNDING YIELD RATES...........................................................8 SECTION 4.5 SUSPENSION OF THE LIBO RATE.............................................................8 SECTION 4.6 DEFAULT RATE............................................................................9 Article V Representations and Warranties.....................................................................9 SECTION 5.1 REPRESENTATIONS AND WARRANTIES OF THE SELLER PARTIES....................................9 Article VI Conditions of Purchases...........................................................................13 SECTION 6.1 CONDITIONS PRECEDENT TO INITIAL INCREMENTAL PURCHASE....................................13 SECTION 6.2 CONDITIONS PRECEDENT TO ALL PURCHASES AND REINVESTMENTS.................................13 Article VII Covenants........................................................................................14 SECTION 7.1 AFFIRMATIVE COVENANTS OF THE SELLER PARTIES.............................................14 SECTION 7.2 NEGATIVE COVENANTS OF THE SELLER PARTIES................................................21 Article VIII Administration and Collection...................................................................22 SECTION 8.1 DESIGNATION OF MASTER SERVICER..........................................................22 SECTION 8.2 DUTIES OF MASTER SERVICER...............................................................23 SECTION 8.3
Liquidity Fundings. 7 SECTION 4.2 YIELD PAYMENTS.......................................... 7 SECTION 4.3
Liquidity Fundings. Prior to the occurrence of an Amortization Event, the outstanding Invested Amount of each Receivable Interest funded, directly or indirectly, with a Liquidity Funding shall accrue Yield for each day during its Tranche Period at either the LIBO Rate or the Alternate Base Rate in accordance with the terms and conditions hereof. Until Seller gives the required notice to the Agent of another Yield Rate in accordance with Section 4.3, the initial Yield Rate for any Receivable Interest funded with a Liquidity Funding shall be the Alternate Base Rate (unless the Default Rate is then applicable). If any undivided interest in a Receivable Interest initially funded with Commercial Paper is sold to the Liquidity Banks pursuant to the Liquidity Agreement, such undivided interest in such Receivable Interest shall be deemed to have a Tranche Period commencing on the date of such sale. The Agent will notify Seller promptly of the occurrence of any Liquidity Funding.
Liquidity Fundings. 7 Section 4.1 Liquidity Fundings..............................................................................7 Section 4.2 Yield Payments..................................................................................7 Section 4.3 Selection and Continuation of Interest Periods..................................................7 Section 4.4 Liquidity Funding Yield Rates...................................................................7 Section 4.5 Suspension of the LIBO Rate.....................................................................8 Section 4.6 Default Rate....................................................................................8
Liquidity Fundings. Prior to the occurrence of an Amortization Event, the outstanding Invested Amount of each Receivable Interest funded with a Liquidity Funding shall accrue Yield for each day during its Interest Period at either (i) the sum of the LIBO Rate and (A) during the occurrence and continuation of an Unmatured Amortization Event, the Applicable Rate (B) at all other times other than during the occurrence and continuation of an Amortization Event, the rate used to determine the Program Fee or (ii) the Alternate Base Rate in accordance with the terms and conditions hereof. Until Seller gives the required notice to the Agent of another Yield Rate in accordance with Section 4.4, the initial Yield Rate for any Receivable Interest funded with a Liquidity Funding shall be the Alternate Base Rate (unless the Default Rate is then applicable). If any undivided interest in a Receivable Interest initially funded with Commercial Paper is sold to the Liquidity Banks pursuant to the Liquidity Agreement, such undivided interest in such Receivable Interest shall be deemed to have a Interest Period commencing on the date of such sale.
Liquidity Fundings. 53 10.1.12 Purchase and Sale Agreement.................................53 SECTION 10.2 Negative Covenants of Seller................................54 10.2.1 Sales, Liens, Etc...........................................54 10.2.2 Mergers, Acquisitions, Sales, Subsidiaries, etc...........................................54 10.2.3
