Common use of Maximum Funded Amount; Payment Amount; Termination Payment Amount Clause in Contracts

Maximum Funded Amount; Payment Amount; Termination Payment Amount. (b) Following the determination of the Payment Amount, and in accordance with Section 5.7, on each Settlement Date (x) if the Payment Amount is positive, the Administrative Agent (on behalf of the Purchasers) shall pay the full amount thereof to the Seller Representative, and upon payment of such amount, the Administrative Agent’s payment obligations with respect to the Purchased Receivables acquired during the Settlement Period ending immediately prior to such Settlement Date shall be satisfied in full and (y) if the Payment Amount is negative, the Seller Representative shall pay the full absolute value thereof to the Administrative Agent (for the benefit of the Purchasers) by deposit into the Administrative Agent’s Account. Furthermore, in connection with Sections 3.5 and 3.6, the Administration Fee and the Unused Fee payable by the Seller Representative on each Settlement Date shall be set-off against any positive Payment Amount payable by the Administrative Agent (and the surplus of the Administration Fee and Unused Fee, if any, after effecting such set-off shall be payable by the Seller Representative to the Administrative Agent), and the absolute value of any negative Payment Amount payable by the Seller Representative shall be combined with the Administration Fee and Unused Fee payable on such Settlement Date (such that both amounts will be paid simultaneously to the Administrative Agent).