Common use of Minimum Sales Amount Clause in Contracts

Minimum Sales Amount. The Aggregate Outstanding Principal Balance as of the related Cutoff Date shall not be less than 100%, other than during the period from October 1, 2020 through November 14, 2020 January 28, 2021 when the Purchase Percentage will be 0%, (adjusted downward for a nonmaterial amount resulting from application of the Freestyle Selection at a Purchase Percentage of 100%, other than during the period from October 1, 2020 through November 14, 2020 January 28, 2021 when the Purchase Percentage will be 0%,) of the aggregate principal balance of weekly pools of receivables meeting the criteria described in the definition of “Eligible Receivable” and such other documented administrative criteria as the Purchasers may agree to from time to time originated by the Seller during the second calendar week preceding the related Closing Date unless otherwise agreed by the Purchasers." [***] Redacted for confidentiality purposes.

Appears in 1 contract

Samples: Master Purchase and Sale Agreement (Carvana Co.)

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Minimum Sales Amount. The Aggregate Outstanding Principal Balance as of the related Cutoff Date shall not be less than 100%$[***], other than during the period from October 1, 2020 through November 14, 2020 January 28March 22, 2021 when the Purchase Percentage will be 0%, (adjusted downward for a nonmaterial amount resulting from application of the Freestyle Selection at a by the Purchase Percentage of 100%Percentage, other than during the period from October 1, 2020 through November 14, 2020 January 28March 22, 2021 when the Purchase Percentage will be 0%,) and the equivalent Purchase Percentage of the aggregate principal balance of weekly pools of receivables meeting the criteria described in the definition of “Eligible Receivable” and such other documented administrative criteria as the Purchasers may agree to from time [***] Redacted for confidentiality purposes. to time originated by the Seller during the second calendar week preceding the related Closing Date unless otherwise agreed by the Purchasers." [***] Redacted for confidentiality purposes.

Appears in 1 contract

Samples: Master Purchase and Sale Agreement (Carvana Co.)

Minimum Sales Amount. The Aggregate Outstanding Principal Balance as of the related Cutoff Date shall not be less than 100%% $300,000,000, other than during the period from October 1, 2020 through November 14, 2020 January 28, 2021 when the Purchase Percentage will be 0%, (adjusted downward for a nonmaterial amount resulting from application of the Freestyle Selection at a by the Purchase Percentage of 100%, other than during the period from October 1, 2020 through November 14, 2020 January 28, 2021 when the Purchase Percentage will be 0%,) of the aggregate principal balance of weekly quarterly pools of receivables meeting the criteria described in the definition of “Eligible Receivable” and such other documented administrative criteria as the Purchasers may agree to from time to time originated by the Seller during the second calendar week preceding the related Closing Date unless otherwise agreed by the Purchasers." [***] Redacted for confidentiality purposes."

Appears in 1 contract

Samples: Master Purchase and Sale Agreement (Carvana Co.)

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Minimum Sales Amount. The Aggregate Outstanding Principal Balance as of the related Cutoff Date shall not be less than 100%, other than during the period from October 1, 2020 through November 14, 2020 January 28, 2021 March 22, 2021 when the Purchase Percentage will be 0%, (adjusted downward for a nonmaterial amount resulting from application of the Freestyle Selection at a Purchase Percentage of 100%, other than during the period from October 1, 2020 through November 14, 2020 January 28, 2021 March 22, 2021 when the Purchase Percentage will be 0%,) of the aggregate principal balance of weekly pools of receivables meeting the criteria described in the definition of “Eligible Receivable” and such other documented administrative criteria as the Purchasers may agree to from time to time originated by the Seller during the second calendar week preceding the related Closing Date unless otherwise agreed by the Purchasers." [***] Redacted for confidentiality purposes."

Appears in 1 contract

Samples: Master Purchase and Sale Agreement (Carvana Co.)

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