Maximum Ownership Interest Sample Clauses

Maximum Ownership Interest. If during any Settlement Period, the Aggregate Ownership Interest at the end of such Settlement Period exceeds the Maximum Ownership Interest, the Seller shall immediately make a payment to the Collection Agent in an amount sufficient to reduce the Aggregate Ownership Interest to the Maximum Ownership Interest but not to exceed the portion of Collections paid to Seller during such Settlement Period. Any such payment will be used to reduce the Investment and shall be applied ratably to the Ownership Interests of the Purchasers according to their respective shares of the Investment.
Sample 1
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Maximum Ownership Interest. (a) If, on any day (after giving effect to Collections and the generation of new Receivables with respect to the Receivables Pool of the York Divisions on such day), the Ownership Interest in such Receivables Pool would exceed the Maximum Ownership Interest, the Purchaser shall cease making Reinvestment Purchases and the Collection Agent shall remit to the Purchaser on a daily basis all Collections attributable to such Ownership Interest (net of amounts distributed or to be distributed pursuant to Sections 7.2.2(a) and 7.2(b)(i)) as a reduction to its Investment until the Purchaser has received an amount sufficient to reduce such Ownership Interest to the Maximum Ownership Interest. The Seller shall remit to the Purchaser in reduction of its Investment any payment made by the Purchaser to the Seller on account of Reinvestment Purchases to the extent the Ownership Interest exceeded the Maximum Ownership Interest at the time the Seller received any such Reinvestment Purchase payment.
Sample 1
Maximum Ownership Interest. (a) If, on any day (after -------------------------- giving effect to Collections and the generation of new Receivables with respect to the Receivables Pool of any Division on such day), the Ownership Interest in such Receivables Pool would exceed the Maximum Ownership Interest (such Division referred to herein as the "Overextended Division"), the Purchaser shall be deemed to make an Incremental Purchase in the Receivables Pools of each of the other Divisions (each such Division, a "Selling Division") in, and the Investment in the Receivables Pool of the Overextended Division shall be deemed reduced by, the amount determined in accordance with the immediately succeeding sentence. Subject to subsection (b) below, the Incremental Purchase deemed to be made in the Receivables Pool of each Selling Division shall be in an amount equal to the product of (i) the amount sufficient to reduce the Ownership Interest in the Receivables Pool of the Overextended Division to the Maximum Ownership Interest and (ii) a fraction, the numerator of which is equal to the Investment with respect to such Selling Division and the denominator of which is equal to the sum of the Investment for each Selling Division; provided, that the -------- amount of such Incremental Purchase would not cause (and such amount shall be reduced so as not to cause) either:
Sample 1

Related to Maximum Ownership Interest

  • No Ownership Interest Nothing contained in this Agreement shall be deemed to vest in Parent or Merger Sub any direct or indirect ownership or incidence of ownership of or with respect to any Shares. All rights, ownership and economic benefits of and relating to the Shares shall remain vested in and belong to Stockholder, and Parent and Merger Sub shall have no authority to manage, direct, superintend, restrict, regulate, govern, or administer any of the policies or operations of the Company or exercise any power or authority to direct Stockholder in the voting of any of the Shares, except as otherwise provided herein.

  • Ownership Interests Borrower owns no interest in any Person other than the Persons listed in SCHEDULE 6.4, equity investments in Persons not constituting Subsidiaries permitted under SECTION 8.7 and additional Subsidiaries created or acquired after the Closing Date in compliance with SECTION 7.19.

  • Ownership Interest, Etc The Seller shall (and shall cause the Servicer to), at its expense, take all action necessary or desirable to establish and maintain a valid and enforceable undivided percentage ownership or security interest, to the extent of the Purchased Interest, in the Pool Receivables, the Related Security and Collections with respect thereto, and a first priority perfected security interest in the Pool Assets, in each case free and clear of any Adverse Claim, in favor of the Administrator (for the benefit of the Purchasers), including taking such action to perfect, protect or more fully evidence the interest of the Administrator (for the benefit of the Purchasers) as the Administrator, may reasonably request.

  • Protection of Ownership Interests of Buyer (a) Each Originator agrees that from time to time, at its expense, it will promptly execute and deliver all instruments and documents, and take all actions, that may be necessary, or that Buyer (or its assigns) may reasonably request, to perfect, protect or more fully evidence the interest of Buyer hereunder and the Receivable Interests, or to enable Buyer (or its assigns) to exercise and enforce their rights and remedies hereunder. At any time, Buyer (or its assigns) may, at such Originator's sole cost and expense, direct such Originator to notify the Obligors of Receivables of the ownership interests of Buyer under this Agreement and may also direct that payments of all amounts due or that become due under any or all Receivables be made directly to Buyer or its designee.

  • Initial Beneficial Ownership Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution Certificate, the Depositor shall be the sole beneficial owner of the Trust.

  • Shares; Membership Interests (a) The total of the membership interests in the Company shall be divided into (i) Class A Ordinary Shares having the rights and preferences as set forth herein (the “Class A Ordinary Shares”), (ii) Class A Preferred Shares having the rights and preferences as set forth herein (the “Class A Preferred Shares” and, together with the Class A Ordinary Shares, the “Class A Shares”), (iii) Class B Ordinary Shares having the rights and preferences as set forth herein (the “Class B Ordinary Shares”), and (iv) Class C Ordinary Share having the rights and preferences as set forth herein (the “Class C Ordinary Share” and, together with the Class A Ordinary Shares, the Class A Preferred Shares and the Class B Ordinary Shares, the “Shares” and each a “Share”). Class A Ordinary Shares, Class A Preferred Shares and Class B Ordinary Shares shall have the same rights, powers and duties, except as otherwise set forth in this Agreement. The number of Class A Ordinary Shares shall be limited to the maximum number of Class A Ordinary shares offered in the Offering, plus (i) the number of Class A Ordinary Shares which may be issued upon conversion of the Class A Preferred Shares, plus (ii) the number of Class A Ordinary Shares which may be issued upon conversion of the Class B Ordinary Shares. The number of Class A Preferred Shares shall be limited to the number of Class A Preferred Shares which may be issued pursuant to the Management Services Agreement. The number of Class B Ordinary Shares shall be limited to up to 1,000. The number of Class C Ordinary Shares shall be limited to one. Class A Preferred Shares issued pursuant to the Management Services Agreement (“ASA Shares”) may be subject to vesting provisions as set forth in the Management Services Agreement. The Shares of the Members shall be as set forth on Exhibit A attached hereto, which may be updated as set forth herein. For the avoidance of doubt, in the event that all of the Class A Ordinary Shares are not sold pursuant to the Offering, the Board shall, upon the final closing of the Offering, issue a number of Class A Ordinary Shares to the Initial Member equal to the aggregate number of Class A Ordinary Shares that remain unsold in the Offering, as repayment in full of any and all obligations owing to the Initial Member in respect of advances made to acquire the Artwork and true-up fees payable to the Initial Member. The name and mailing address of each Member or such Member’s representative shall be listed on the books and records of the Company maintained for such purpose by the Company or the Transfer Agent.

  • Ownership Interest 41 Pass-Through Rate............................................................41

  • OWNERSHIP INTERESTS OF INTERESTED PERSONS COMPETITORS. . . . . . . . . . 9 2.28 PAYORS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

  • Protection of Ownership Interests of the Purchasers (a) Seller agrees that from time to time, at its expense, it will promptly execute and deliver all instruments and documents, and take all actions, that may be necessary or desirable, or that the Agent may reasonably request, to perfect, protect or more fully evidence the Purchaser Interests, or to enable the Agent or the Purchasers to exercise and enforce their rights and remedies hereunder. After the occurrence of an Amortization Event, the Agent may, or the Agent may direct Seller or the Servicer to, notify the Obligors of Receivables, at Seller's expense, of the ownership or security interests of the Purchasers under this Agreement and may also direct that payments of all amounts due or that become due under any or all Receivables be made directly to the Agent or its designee. Seller or the Servicer (as applicable) shall, at any Purchaser's request, withhold the identity of such Purchaser in any such notification.

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