ORIGINATOR TERMINATION EVENT Sample Clauses

ORIGINATOR TERMINATION EVENT. Upon the occurrence of any Originator Termination Event as described in the Fourth Schedule, then, upon notice thereof by the Purchaser, in the case of an Originator Termination Event referred to in paragraphs 1, 2, 3, 4, 5, 8, 9 and 10 of the Fourth Schedule, so long as such Originator Termination Event shall be continuing, the Purchaser may declare that an Originator Termination Date has occurred provided however that in the case of an Originator Termination Event referred to in paragraph 6 7 and 11 of the Fourth Schedule, the Originator Termination Date shall be deemed to automatically have occurred upon the occurrence of such event. On and after the Originator Termination Date, any outstanding obligation of the Purchaser to purchase Receivables from the Originator pursuant to any agreement formed upon the acceptance of an Offer shall thereupon automatically terminate without further notice of any kind, which the Originator hereby waives and the Originator shall not be entitled to make any further Offers.