Common use of Making Purchases From the Seller Clause in Contracts

Making Purchases From the Seller. (a) Each Purchase by the Conduit or the Banks shall be made on at least three Business Days' notice from the Seller to the Agent. Each such notice of a Purchase shall specify (i) the amount requested to be paid to the Seller (such amount, which shall not be less than $5,000,000, being referred to herein as the initial "Capital" of the Receivable Interest then being purchased) and (ii) the date of such Purchase (which shall be a Business Day). The Agent shall promptly thereafter transmit such request to the Conduit and the Banks. The Agent shall promptly thereafter verbally notify the Seller whether the Conduit has determined to make a Purchase and, if so, whether all of the terms specified by the Seller are acceptable to the Conduit. If the Conduit has determined not to make a proposed Purchase, the Agent shall promptly notify all of the Banks concurrently by telecopier, telex or cable specifying the date of such Purchase, each Bank's Percentage multiplied by the aggregate amount of Capital of the Receivable Interest being purchased and whether the Yield for such Receivable Interest is calculated based on the Eurodollar Rate (which may be selected only if such notice is given at least two Business Days prior to the purchase date) or the Alternate Base Rate. (b) On the date for the Purchase of a Receivable Interest, the Conduit or the Banks, as the case may be, shall, upon satisfaction of the applicable conditions set forth in Article III, make available to the Agent at its address specified on the signature page to this Agreement an amount equal to the initial Capital of such Receivable Interest in same day funds. After receipt by the Agent of such funds, the Agent will make such funds immediately available to the Seller at Fleet National Bank, Hartford, Connecticut, ABA # 011500010, Account # 9370212175, or xx xxxx other account as the Seller may notify the Agent in writing. (c) Effective on the date of each Purchase pursuant to this Section 2.03 and each reinvestment, the Seller hereby sells and assigns to the Agent, for the benefit of the parties making such Purchase, an undivided percentage ownership interest, to the extent of the Receivable Interest Percentage, in each Pool Receivable then existing and in the Related Security and Collections with respect thereto. (d) Notwithstanding the foregoing, a Bank shall not be obligated to make Purchases under this Section 2.03 at any time in an amount which would exceed such Bank's Bank Commitment less (in the case of any Bank other than Citibank) the outstanding and unpaid amount of any purchases made by such Bank under any asset purchase agreement related hereto. Each Bank's obligation shall be several, such that the failure of any Bank to make available to the Seller any funds in connection with any Purchase shall not relieve any other Bank of its obligation, if any, hereunder to make funds available on the date of such Purchase, but no Bank shall be responsible for the failure of any other Bank to make funds available in connection with any Purchase.

Making Purchases From the Seller. (a) Each Purchase by the Conduit or the Banks shall be made on at least three Business Days' notice from the Seller to the Agent. Each such notice of a Purchase shall specify (i) the amount requested to be paid to the Seller (such amount, which shall not be less than $5,000,000, being referred to herein as the initial "Capital" of the Receivable Interest then being purchased) and (ii) the date of such Purchase (which shall be a Business Day). The Agent shall promptly thereafter transmit such request to the Conduit and the Banks. The Agent shall promptly thereafter verbally notify the Seller whether the Conduit has determined to make a Purchase and, if so, whether all of the terms specified by the Seller are acceptable to the Conduit. If the Conduit has determined not to make a proposed Purchase, the Agent shall promptly notify all of the Banks concurrently by telecopier, telex or cable specifying the date of such Purchase, each Bank's Percentage multiplied by the aggregate amount of Capital of the Receivable Interest being purchased and whether the Yield for such Receivable Interest is calculated based on the Eurodollar Rate (which may be selected only if such notice is given at least two Business Days prior to the purchase date) or the Alternate Base Rate. (b) On the date for the Purchase of a Receivable Interest, the Conduit or the Banks, as the case may be, shall, upon satisfaction of the applicable conditions set forth in Article III, make available to the Agent at its address specified on the signature page to this Agreement an amount equal to the initial Capital of such Receivable Interest in same day funds. After receipt by the Agent of such funds, the Agent will make such funds immediately available to the Seller at Fleet National Bank, Hartford, Connecticut, ABA # 011500010, Account # 93702121750000000075, or xx xxxx at such other account as the Seller may notify the Agent in writing. (c) Effective on the date of each Purchase pursuant to this Section 2.03 and each reinvestment, the Seller hereby sells and assigns to the Agent, for the benefit of the parties making such Purchase, an undivided percentage ownership interest, to the extent of the Receivable Interest Percentage, in each Pool Receivable then existing and in the Related Security and Collections with respect thereto. (d) Notwithstanding the foregoing, a Bank shall not be obligated to make Purchases under this Section 2.03 at any time in an amount which would exceed such Bank's Bank Commitment less (in the case of any Bank other than Citibank) the outstanding and unpaid amount of any purchases made by such Bank under any asset purchase agreement related hereto. Each Bank's obligation shall be several, such that the failure of any Bank to make available to the Seller any funds in connection with any Purchase shall not relieve any other Bank of its obligation, if any, hereunder to make funds available on the date of such Purchase, but no Bank shall be responsible for the failure of any other Bank to make funds available in connection with any Purchase.

Making Purchases From the Seller. (a) Each Capital Increase Purchase from the Seller by the Conduit or the Banks shall be made on at least three Business Days' notice from the Seller to the Agent. Each such notice of a proposed Capital Increase Purchase shall specify (i) the desired amount requested to be paid to the Seller (such amount, which shall not be less than $5,000,000, being referred to herein as the initial "Capital" of the Receivable Interest then being purchased) and (ii) the date of such Capital Increase Purchase (which shall and the desired duration of the initial Fixed Period for the Eligible Asset or Eligible Assets to be a Business Day)purchased. The Agent shall promptly thereafter transmit such request to the Conduit and the Banks. The Agent shall promptly thereafter verbally notify the Seller whether the Conduit has determined to make a Purchase and, if so, whether all desired duration of the terms specified by initial Fixed Period for the Eligible Asset or Eligible Assets to be purchased is acceptable. In the event that the Seller are acceptable and the Agent fail to agree on the duration of any Fixed Period for a Capital Increase Purchase prior to the Conduit. If the Conduit has determined not to make a proposed Business Day of such Capital Increase Purchase, the duration of such Fixed Period shall be selected by the Agent shall promptly notify all of the Banks concurrently by telecopier, telex or cable specifying in its sole discretion. On the date of such each Capital Increase Purchase, each Bank shall make available to the Agent at its address referred to in Section 2.08 such Bank's Percentage multiplied by of the aggregate amount of Capital of the Receivable Interest being Eligible Assets to be purchased pursuant to such Capital Increase Purchase in same day funds, and whether following receipt by the Yield for Agent of such Receivable Interest is calculated based on the Eurodollar Rate (which may be selected only if such notice is given at least two Business Days prior to the purchase date) or the Alternate Base Rate. (b) On the date for the Purchase of a Receivable Interestfunds, the Conduit or the Banks, as the case may be, shallAgent will, upon satisfaction of the applicable conditions set forth in Article III, make available to the Agent at its address specified on the signature page to this Agreement an amount equal to the initial Capital of such Receivable Interest in same day funds. After receipt by the Agent of such funds, the Agent will make such funds immediately available to the Seller at Fleet National BankCitibank's address at 000 Xxxx Xxxxxx, HartfordXxx Xxxx, ConnecticutXxx Xxxx, ABA # 011500010, Account # 9370212175, or xx xxxx other account as and each Bank shall thereupon become the Seller may notify owner of its respective Percentage Interest in each of the Agent in writing. (c) Effective on Eligible Assets purchased by the date of each Purchase Banks pursuant to this Section 2.03 and each reinvestment, the Seller hereby sells and assigns to the Agent, for the benefit of the parties making such Purchase, an undivided percentage ownership interest, to the extent of the Receivable Interest Percentage, in each Pool Receivable then existing and in the Related Security and Collections with respect thereto. (d) Notwithstanding the foregoing, a Bank shall not be obligated to make Purchases under this Section 2.03 at any time in an amount which would exceed such Bank's Bank Commitment less (in the case of any Bank other than Citibank) the outstanding and unpaid amount of any purchases made by such Bank under any asset purchase agreement related hereto. Each Bank's obligation shall be several, such that the failure of any Bank to make available to the Seller any funds in connection with any Purchase shall not relieve any other Bank of its obligation, if any, hereunder to make funds available on the date of such Purchase, but no Bank shall be responsible for the failure of any other Bank to make funds available in connection with any Capital Increase Purchase.

Making Purchases From the Seller. (a) Each Purchase by from the Conduit or the Banks Seller shall be made on at least three Business Days' notice from the Seller to by the Agent. Each such notice , for the benefit of the Purchasers or the Banks, as the case may be, as of a Purchase Date. The Seller shall specify deliver a purchase request (which may be contained in the next Seller Report following such Purchase Date) specifying (i) the amount requested to be paid to the Seller (such amount, which shall not be less than $5,000,000, being referred to herein as the initial "Capital" aggregate Purchase Price of the Receivable Interest then being or Receivable Interests to be purchased) and , (ii) the date proposed Purchase Date and (iii) the applicable Discount Rate. The Purchase Price of such Purchase (which the Receivable Interest or Receivable Interests to be purchased shall be a Business Day)in the minimum amount of $5,000,000. The Agent shall promptly thereafter transmit such request to the Conduit CAFCO and the Banks. The Agent shall promptly thereafter verbally notify the Seller whether the Conduit CAFCO has determined to make a Purchase and, if so, whether all of the terms specified by the Seller are acceptable to the ConduitCAFCO. If the Conduit CAFCO has determined not to make a proposed Purchase, the Agent shall promptly notify all of the Banks concurrently by telecopier, telex or cable specifying the date of such Purchase, applicable Discount Rate and each Bank's Percentage multiplied by the aggregate amount of Capital of the Receivable Interest being purchased and whether the Yield for such Receivable Interest is calculated based on the Eurodollar Rate (which may be selected only if such notice is given at least two Business Days prior to the purchase date) or the Alternate Base RatePurchase Price. (b) On the date Settlement Date for the Purchase of a Receivable Interest, the Conduit CAFCO or the Banks, as the case may be, shall, upon satisfaction of the applicable conditions set forth in Article III, make available to the Agent at its address specified on the signature page to this Agreement an amount equal to the initial Capital of Purchase Price for such Receivable Interest in same day funds. After receipt by the Agent of such funds, the Agent will make such funds immediately available to the Seller at Fleet National Bank, Hartford, Connecticut, ABA # 011500010000000000, Account # 93702121750012-9048, or xx xxxx to such other account as the Seller may notify the Agent in writing. (c) Effective on the date of each Purchase pursuant to this Section 2.03 and each reinvestment, the Seller hereby sells and assigns to the Agent, for the benefit of the parties making such Purchase, an undivided percentage ownership interest, to the extent of the Receivable Interest Percentage, in each Pool Receivable then existing and in the Related Security and Collections with respect thereto. (d) Notwithstanding the foregoing, a Bank shall not be obligated to make Purchases under this Section 2.03 at any time in an amount which would exceed such Bank's Bank Commitment less (in the case of any Bank other than Citibank) the outstanding and unpaid amount of any purchases made by such Bank under any asset purchase agreement related hereto. Each Bank's obligation shall be several, such that the failure of any Bank to make available to the Seller any funds in connection with any Purchase shall not relieve any other Bank of its obligation, if any, hereunder to make funds available on the date of such Purchase, but no Bank shall be responsible for the failure of any other Bank to make funds available in connection with any Purchase.

Making Purchases From the Seller. (a) Each Purchase by Purchases that the Conduit or the Banks shall Purchaser agrees to make will be made on at least three Business Days' notice from Purchase Dates. A Purchase will only be made if the Seller has delivered a Request Notice to the Agent. Each such notice of a Purchase shall specify (i) Administrative Agent by 1:00 p.m. on the amount requested to be paid Business Day immediately prior to the Seller requested Purchase Date. (such amountb) The Administrative Agent, which shall not be less than $5,000,000, being referred to herein as the initial "Capital" on behalf of the Receivable Interest then being purchased) and (ii) the date of such Purchase (which shall be a Business Day). The Agent shall Purchaser, will promptly thereafter transmit such request to the Conduit and the Banks. The Agent shall promptly thereafter verbally notify the Seller whether of the Conduit has determined Purchaser's decision to make a Purchase or not to make a Purchase and, if so, whether all of the terms amount specified by the Seller are in the Request Notice is acceptable to the ConduitPurchaser. If the Conduit has determined not to make Each notification will be made by delivery of a proposed Purchase, the Agent shall promptly notify all of the Banks concurrently by telecopier, telex or cable specifying the date of such Purchase, each Bank's Percentage multiplied by the aggregate amount of Capital of the Receivable Interest being purchased and whether the Yield for such Receivable Interest is calculated based Purchase Notification on the Eurodollar Rate (which may be selected only if such notice is given at least two Business Days prior related Purchase Date to the purchase date) or the Alternate Base RateSeller. (bc) On the date for the Purchase of a Receivable InterestPurchase, the Conduit or Administrative Agent on behalf of the Banks, as the case may be, Purchaser shall, upon satisfaction of the applicable conditions set forth in Article IIIPurchase Conditions, make available to the Agent at its address specified Collection Account the Capital Investment for such Receivables Interest (as set forth in related Purchase Notification, which amount may be reduced by any amounts due under Sections 2.10, 8.1 or 10.3 that remain unpaid on the signature page to this Agreement an amount equal to the initial Capital such day of such Receivable Interest Purchase) in same day funds. After receipt by the Agent of such funds, the Agent will make such funds which amount shall be made immediately available to the Seller at Fleet National Bank, Hartford, Connecticut, ABA # 011500010, Account # 9370212175, or xx xxxx other the account as of the Seller may notify specified in writing to the Administrative Agent in writingby the Seller from time to time. (cd) Effective on the date of each Purchase pursuant to this Section 2.03 and each reinvestment2.2, the Seller hereby sells and assigns to the Agent, for the benefit of the parties making such Purchase, Purchaser an undivided percentage ownership interest, to the extent of the Receivable Receivables Interest Percentagethen being purchased, in each Pool Receivable then existing and in the Related Security and Collections with respect thereto. (d) Notwithstanding the foregoing, a Bank shall not be obligated to make Purchases under this Section 2.03 at any time in an amount which would exceed such Bank's Bank Commitment less (in the case of any Bank other than Citibank) the outstanding and unpaid amount of any purchases made by such Bank under any asset purchase agreement related hereto. Each Bank's obligation shall be several, such that the failure of any Bank to make available to the Seller any funds in connection with any Purchase shall not relieve any other Bank of its obligation, if any, hereunder to make funds available on the date of such Purchase, but no Bank shall be responsible for the failure of any other Bank to make funds available in connection with any Purchase.