Payment for the Purchases. (a) The Purchase Price for each Purchase of Receivables in existence on the close of business on the Initial Cutoff Date shall be payable in full by Buyer to Originator on the Initial Sale Date, and shall be paid to Originator in the following manner:
(i) by delivery of immediately available funds, to the extent of funds made available to Buyer in connection with its subsequent sale of such Receivables to Funding LLC under the Second Tier Sale Agreement after the payment of its operating costs and any amounts payable under the Second Tier Sale Agreement; and
(ii) the balance, by accepting a contribution to Buyer’s capital of Receivables having an aggregate Purchase Price equal to the unpaid balance of the aggregate Purchase Prices for all Receivables in existence on the close of business on the Initial Cutoff Date. The Purchase Price for each Receivable coming into existence after the Initial Cutoff Date shall be due and owing in full by Buyer to Originator or its designee on the date each such Receivable came into existence (except that Buyer may, with respect to any such Purchase Price, offset against such Purchase Price any amounts owed by Originator to Buyer hereunder and which have become due but remain unpaid) and shall be paid to Originator in the manner provided in the following paragraphs (b) and (c).
(b) With respect to any Receivables coming into existence after the Initial Cutoff Date, Buyer shall pay the Purchase Price therefor in the following manner:
(i) first, by delivery of immediately available funds on the Business Day on which purchase occurs to the extent of funds available to Buyer from its subsequent sale of the Receivables to Funding LLC under the Second Tier Sale Agreement or other cash on hand;
(ii) second, on a deferred basis in the manner provided in the following paragraph (c); and
(iii) third, to the extent not paid pursuant to clause (i) or (ii) above and unless Buyer has declared the Termination Date to have occurred pursuant to Section 5.2, by accepting a contribution to its capital of Receivables having a Purchase Price equal to the remaining unpaid balance of such Purchase Price.
(c) Although the Purchase Price for each Receivable purchased by Buyer pursuant to this Agreement after the Initial Purchase Date shall be due and payable in full by Buyer to Originator on the date such Receivable was so purchased, settlement of the cash portion of the Purchase Price between Buyer and Originator for purchases occurring during any...
Payment for the Purchases. (a) With respect to each Purchase, the Buyer shall pay to the Authorized Representative for the benefit of the applicable Originator(s) an amount equal to the Purchase Price for such Purchased Property by means of any one or combination of the following in accordance with the terms of Section 2.03: (i) a transfer of funds to the Authorized Representative (for distribution or crediting by the Authorized Representative to such Originators), and (ii) an Originator Loan in accordance with Section 2.03(c)(ii).
(b) Settlement of the amounts specified in the foregoing clause (a) shall be effected as provided in Section 2.03.
(c) Each of the Originators hereunder shall be deemed to have certified, with respect to the Purchased Property to be Purchased by the Buyer on any Purchase Date, that its representations and warranties contained in Sections 4.01 and 4.02 are true and correct on and as of such day, with the same effect as though made on and as of such day (other than any representation or warranty that is made as of a specific date), and that no Termination or Event of Termination has occurred and is continuing or would result therefrom.
Payment for the Purchases. (a) The Purchase Price for each Purchase from the Seller shall be payable in full by the Buyer to the Seller or its designee on each Purchase Date and shall be paid to the Seller in the manner provided in this Article II; provided that for purposes of the Purchase Date occurring on the Restatement Effective Date, the Purchase Price for the Receivables and the Receivables Property existing on the Restatement Effective Date shall be based on the Receivables of the Seller existing as of the Cut-Off Date (the “Initial Effective Date Purchase Price”). On the first Settlement Date occurring after the Restatement Effective Date (the “Initial Settlement Date”), the Seller shall determine the Purchase Price for the Receivables and Receivables Property existing on the Restatement Effective Date based on the Receivables existing on the Restatement Effective Date (the “Actual Effective Date Purchase Price”). If the Initial Effective Date Purchase Price paid by the Buyer on the Restatement Effective Date is greater than the Actual Effective Date Purchase Price, the Seller shall pay to the Buyer an amount equal to such excess on the Initial Settlement Date. If the Initial Effective Date Purchase Price paid by the Buyer on the Restatement Effective Date is less than the Actual Effective Date Purchase Price, the Buyer shall pay to the Seller an amount equal to such difference on the Initial Settlement Date by increasing the outstanding principal amount of the Intercompany Note for the account of the Seller in the amount of the difference.
(b) Upon the fulfillment of the conditions set forth in Article III, the Purchase Price for Receivables shall be paid or provided for (without duplication) by the Buyer in the manner provided in Section 2.02(c) below on the date of the initial Purchase from the Seller and on each Purchase Date thereafter until the Termination Date.
(c) The Purchase Price for Receivables shall be paid by the Buyer on each Purchase Date (including the initial Purchase Date) as follows:
(i) by netting the amount of any Purchase Price Credits pursuant to Section 2.03 against such Purchase Price;
(ii) to the extent available for such purpose (as determined by the Buyer), in cash; and
(iii) by means of an addition to the principal amount of the Intercompany Note in an aggregate amount up to the remaining portion of the Purchase Price. The Seller may evidence such additional principal amounts by recording the date and amount thereof on the grid attached to the ...
Payment for the Purchases. (a) Not less than five (5) Business Days prior to each Purchase Date on which the Seller intends to sell Receivables (and Related Assets) to the Purchaser hereunder, the Seller shall deliver to the Purchaser a Purchase Request with respect to such Receivables. Upon acceptance thereof by the Purchaser and the satisfaction of the conditions precedent set forth in Article III, the Purchaser shall remit to the Seller payment in cash (subject to Section 2.02(b)) of the Purchase Price for such Receivables (being the sum of the Purchase Prices for each such Receivable), by no later than 5:00 p.m. (New York time) on such Purchase Date. In addition, the Purchaser may request of the Seller, and the Seller shall deliver, on or before the applicable Purchase Date such approvals, information, reports or documents as the Purchaser may reasonably request. To the extent that the Purchaser reasonably disputes any of the information in such Purchase Request with respect to any Receivable described therein, the Seller and the Purchaser shall reconcile such information as promptly as possible and if unable to reconcile and agree on the content of such information prior to 4:30 p.m. (New York time) on the applicable Purchase Date, the Seller shall exclude from the final Purchase Request on such Purchase Date any Receivable subject to such dispute until such information is acceptable to the Purchaser (and such excluded Receivables shall be deemed not sold on such date).
Payment for the Purchases. (a) The Purchase Price for the Purchase from each Originator of its Receivables in existence as of the close of business on the applicable Initial Cutoff Date and not previously assigned or transferred to the Buyer, if any, shall be payable in full by the Buyer to such Originator on the Business Day following such Initial Cutoff Date in immediately available funds.
(b) The Purchase Price for each Receivable coming into existence after the applicable Initial Cutoff Date shall be due and owing in full by the Buyer to the applicable Originator or its designee in immediately available funds on the date each such Receivable came into existence except that the Buyer may, with respect to any such Purchase Price:
(i) offset against such Purchase Price any amounts owed by such Originator to the Buyer hereunder and which have become due but remain unpaid; and/or
(ii) elect to defer payment of all or any portion of the Purchase Price for Receivables originated by such Originator during the same Calculation Period (based on the information contained in the Purchase Report delivered by such Originator for the Calculation Period then most recently ended) until the next succeeding Settlement Date.
Payment for the Purchases. (a) The Purchase Price for the initial Purchase of Receivables hereunder shall be payable in full by the Purchaser to the Seller, and shall be paid to the Seller in the following manner on the date of such initial Purchase: (i) by the issuance of equity in the manner contemplated in that certain Stockholder and Subscription Agreement dated as of August 28, 1997 between the Seller and the Purchaser and having a value of not less than the greater of (A) $5,000,000 or (B) three percent (3.00%) of the Net Investment outstanding at such time under the TAA, after giving effect to such sale under the TAA, (ii) by delivery of immediately available funds, to the extent of funds made available to the Purchaser in connection with its subsequent sale of an interest in such Receivables to the Agent (on behalf of any Conduit Investor or the Bank Investors, as applicable) under the TAA and (iii) the balance, with the proceeds of a Revolving Loan. The Purchase Price for each Purchase after the initial Purchase shall be payable in full by the Purchaser to the Seller or its designee on the date of such Purchase, except that the Purchaser may, with respect to any such Purchase, offset against such Purchase Price any amounts owed by the Seller to the Purchaser hereunder and which have become due but remain unpaid.
Payment for the Purchases. (a) The “Purchase Price” with respect to any Purchase on any Purchase Date shall be an amount equal to (i) the lesser of (A) the product of (x) the aggregate RSA Outstanding Balance of the subject Receivables as of such date and (y) the Discounted Percentage and (B) an amount agreed upon by the related Originator and the Company, which amount shall allow the Company a reasonable return with respect to such Purchase, minus (ii) any Purchase Price Credits to be credited against the Purchase Price. The Purchase Price for each Purchase shall be payable in full by the Company to the applicable Originator or its designee on the applicable Purchase Date (except that the Company may, with respect to any such Purchase, offset against such Purchase Price any amounts owed by such Originator to the Company hereunder and which have become due and payable but remain unpaid) and shall be paid to the applicable Originator in the manner provided in Section 2.2(b).
Payment for the Purchases. (a) The Purchase Price for each Purchase of Additional Receivables shall become owing to NSI Georgia on the date each such Additional Receivable comes into existence but shall be paid on the next succeeding Settlement Date in the following manner (except that Buyer may, with respect to any such Purchase Price, offset against such Purchase Price any amounts owed by NSI Georgia to Buyer hereunder and which have become due but remain unpaid) and shall be paid to NSI Georgia in the manner provided in the following paragraphs (b) and (c): first, by delivery of immediately available funds, to the extent of funds available to Buyer from its borrowings under the Credit and Security Agreement or other cash on hand; second, by delivery of the proceeds of a subordinated revolving loan from NSI Georgia to Buyer (a "Subordinated Loan") in an amount not to exceed the least of (A) the remaining unpaid portion of such Purchase Price, (B) the maximum Subordinated Loan that could be borrowed without rendering Buyer's Net Worth less than the Required Capital Amount, and (C) fifteen percent (15%) of such Purchase Price; and
Payment for the Purchases. (a) The Purchase Price for the Existing Receivables shall be payable in full by NSI Georgia to NSI Enterprises on the date hereof in immediately available funds.
(b) The Purchase Price for each Additional Receivable shall be due and owing in full by NSI Georgia to NSI Enterprises or its designee on the date each such Additional Receivable comes into existence (except that NSI Georgia may, with respect to any such Purchase Price, offset against such Purchase Price any amounts owed by NSI Enterprises to NSI Georgia hereunder and which have become due but remain unpaid) and shall be paid to NSI Enterprises in immediately available funds as provided in this Section 1.2(b) and subject to Section 1.
Payment for the Purchases. The Purchase Price for each purchase of Initial Receivables and Related Security from Seller shall be payable in full by Buyer to Seller by delivery of immediately available funds by Seller at a price of 97.5 % of the net amount of such Receivable.
