Common use of Optional Changes in Maximum Purchase Limit Clause in Contracts

Optional Changes in Maximum Purchase Limit. (a) So long as no Incipient Termination Event or Termination Event shall have occurred and be continuing, the Seller may, not more than twice during each calendar year, reduce the Maximum Purchase Limit permanently; PROVIDED, that (i) the Seller shall give thirty (30) Business Days' prior written notice of any such reduction to the Administrative Agent substantially in the form of EXHIBIT 2.02(a) (each such notice, a "COMMITMENT REDUCTION NOTICE"), (ii) any partial reduction of the Maximum Purchase Limit shall be in a minimum amount of $5,000,000 or an integral multiple thereof, (iii) no such reduction shall reduce the Maximum Purchase Limit below the greater of (x) Capital Investment at such time and (y) $50,000,000, and (iv) any such reduction must be accompanied by payment of the fee required by SECTION 2.02(c).

Appears in 1 contract

Samples: Receivables Purchase and Servicing Agreement (Daisy Parts Inc)

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Optional Changes in Maximum Purchase Limit. (a) So long as no Incipient Termination Event or Termination Event shall have occurred and be continuing, the Seller may, not more than twice during each calendar year, reduce the Maximum Purchase Limit permanently; PROVIDEDprovided, that (i) the Seller shall give thirty ten (3010) Business Days' prior written notice of any such reduction to the Administrative Agent substantially in the form of EXHIBIT 2.02(aExhibit 2.2(a) (each such notice, a "COMMITMENT REDUCTION NOTICECommitment Reduction Notice"), (ii) any partial reduction of the Maximum Purchase Limit shall be in a minimum amount of $5,000,000 or an integral multiple thereof, and (iii) no such reduction shall reduce the Maximum Purchase Limit below the greater of (xA) Capital Investment at such time and (yB) $50,000,000, and (iv) any such reduction must be accompanied by payment of the fee required by SECTION 2.02(c)75,000,000.

Appears in 1 contract

Samples: Receivables Purchase and Servicing Agreement (Advancepcs)

Optional Changes in Maximum Purchase Limit. (a) So long as no Incipient Termination Event or Termination Event shall have occurred and be continuing, the Seller may, not more than twice during each calendar year, reduce the Maximum Purchase Limit permanently; PROVIDED, provided that (i) the Seller shall give thirty (30) ten Business Days' prior written notice of any such reduction to the Administrative Agent substantially in the form of EXHIBIT Exhibit 2.02(a) (each such notice, a "COMMITMENT REDUCTION NOTICECommitment Reduction Notice"), (ii) any partial reduction of the Maximum Purchase Limit shall be in a minimum amount of $5,000,000 or an integral multiple thereof, (iii) no such reduction shall reduce the Maximum Purchase Limit below the greater of (x) Capital Investment at such time and (y) $50,000,000, and (iv) any such reduction must be accompanied by payment of the fee required by SECTION 2.02(c).and

Appears in 1 contract

Samples: Receivables Purchase and Servicing Agreement (Castle a M & Co)

Optional Changes in Maximum Purchase Limit. (a) So long as no Incipient Termination Event or Termination Event shall have occurred and be continuing, the Seller may, not more than twice during each calendar year, reduce the Maximum Purchase Limit permanently; PROVIDEDprovided, that (i) the Seller shall give thirty (30) ten Business Days' Day's prior written notice -------- of any such reduction to the Administrative Purchaser and the Operating Agent substantially in the form of EXHIBIT Exhibit 2.02(a) (each such notice, a "COMMITMENT REDUCTION NOTICECommitment Reduction Notice"), --------------- --------------------------- (ii) any partial reduction of the Maximum Purchase Limit shall be in a minimum amount of $5,000,000 or an integral multiple thereof, and (iii) no such reduction shall reduce the Maximum Purchase Limit below the greater of (x) Capital Investment at such time and (y) $50,000,000, and (iv) any such reduction must be accompanied by payment of the fee required by SECTION 2.02(c)time.

Appears in 1 contract

Samples: Receivables Purchase and Servicing Agreement (Callaway Golf Co /Ca)

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Optional Changes in Maximum Purchase Limit. (a) So long as no Incipient Termination Event or Termination Event shall have occurred and be continuing, the Seller may, not more than twice during each calendar year, reduce the Maximum Purchase Limit permanently; PROVIDEDprovided, that (i) the Seller shall give thirty ten (3010) Business Days' prior written notice of any such reduction to the Administrative Agent substantially in the form of EXHIBIT Exhibit 2.02(a) (each such notice, a "COMMITMENT REDUCTION NOTICECommitment Reduction Notice"), (ii) any partial reduction of the Maximum Purchase Limit shall be in a minimum amount of $5,000,000 or an integral multiple thereof, thereof and (iii) no such reduction shall reduce the Maximum Purchase Limit below the greater of (x) the Capital Investment at such time and (y) $50,000,000, and (iv) any such reduction must be accompanied by payment of the fee required by SECTION 2.02(c).

Appears in 1 contract

Samples: Purchase Agreement (Avondale Inc)

Optional Changes in Maximum Purchase Limit. (a) So long as no Incipient Termination Event or Termination Event shall have occurred and be continuing, the Seller may, not more than twice during each calendar year, reduce the Maximum Purchase Limit permanently; PROVIDED, provided that (i) the Seller shall give thirty (30) ten Business Days' prior written notice of any such reduction to the Administrative Agent substantially in the form of EXHIBIT Exhibit 2.02(a) (each such notice, a "COMMITMENT REDUCTION NOTICECommitment Reduction Notice"), (ii) any partial reduction of the Maximum Purchase Limit shall be in a minimum amount of $5,000,000 or an integral multiple thereof, (iii) no such reduction shall reduce the Maximum Purchase Limit below the greater of (x) Capital Investment at such time and (y) $50,000,00015,000,000, and (iv) any such reduction must be accompanied by payment of the fee required by SECTION Section 2.02(c).

Appears in 1 contract

Samples: Purchase Agreement (Wabash National Corp /De)

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