Common use of PAYMENT FOR FUTURE RECEIVABLES Clause in Contracts

PAYMENT FOR FUTURE RECEIVABLES. 5.1 In consideration of the assignment by the Transferor or any Additional Transferor to the Receivables Trustee of Future Receivables coming into existence on any day (including any Future Receivables assigned pursuant to the Future Receivables Transfer) (which Receivables will have vested in equity in the Receivables Trustee) and the benefit of Acquired Interchange in respect of each Monthly Period, the Receivables Trustee shall pay to the Transferor or, as the case may be, such Additional Transferor (and, in respect of the amount to be paid in cash, in accordance with Clause 6.2 or Clause 6.4, as applicable), not later than the Business Day which is two Business Days after the Date of Processing relating to such Future Receivables or such longer period of time as may be agreed upon by the Transferor or, as the case may be, such Additional Transferor and the Receivables Trustee (if it has received written confirmation from each relevant Rating Agency that such increase in time will not result in such Rating Agency reducing or withdrawing its then current rating on any outstanding Related Debt), an amount equal to the aggregate of the Outstanding Face Amounts of the Principal Receivables comprised therein as calculated by the Transferor or, as the case may be, such Additional Transferor and notified to the Receivables Trustee by the Transferor or, as the case may be, such Additional Transferor (and specifying the aggregate amount of such Principal Receivables which are Ineligible Receivables) by no later than 12.00 noon on such day for payment PROVIDED THAT, in the case of Future Receivables assigned pursuant to the Future Receivables Transfer, this Clause 5.1 shall apply subject to the provisions of the Future Receivables Transfer.