Common use of Payment for the Purchases Clause in Contracts

Payment for the Purchases. (a) The Purchase Price for each Purchase from a Seller shall be payable in full by the Buyer to such Seller or its designee on each Purchase Date and shall be paid to such Seller in the manner provided in this Article II; provided that for purposes of the Purchase Date occurring on the initial Effective Date, the Purchase Price for the Receivables and the Receivables Property existing on the Effective Date shall be based on the Receivables of each Seller existing as of the Cut-Off Date (the "Initial Effective Date Purchase Price"). On the first Settlement Date occurring after the Effective Date (the "Initial Settlement Date"), each Seller shall determine the Purchase Price for the Receivables and Receivables Property existing on the Effective Date based on the Receivables existing on the Effective Date (the "Actual Effective Date Purchase Price"). If the Initial Effective Date Purchase Price paid by the Buyer on the Effective Date is greater than the Actual Effective Date Purchase Price with respect to any Seller, such 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 Effective Date is less than the Actual Effective Date Purchase Price with respect to any Seller, the Buyer shall pay to such 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 such Seller in the amount of the difference.

Payment for the Purchases. (a) The Purchase Price for each Purchase from a the Seller shall be payable in full by the Buyer to such the Seller or its designee on each Purchase Date and shall be paid to such the Seller in the manner provided in this Article II; provided that for purposes of the Purchase Date occurring on the initial 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 each 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"”), each 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 with respect to any SellerPrice, such 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 with respect to any SellerPrice, the Buyer shall pay to such 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 such the Seller in the amount of the difference.

Payment for the Purchases. (a) The Purchase Price for each Purchase from a Seller shall be payable in full by the Buyer to such Seller or its designee on each Purchase Date and shall be paid to such Seller in the manner provided in this Article II; provided that for purposes of the Purchase Date occurring on the initial Effective Closing Date, the Purchase Price for the Receivables and the Receivables Property existing on the Effective Closing Date shall be based on the Receivables of each Seller existing as of the Cut-Off Date (the "Initial Effective Date Purchase Price"). On the first Settlement Date occurring after the Effective Closing Date (the "Initial Settlement Date"), each Seller shall determine the Purchase Price for the Receivables and Receivables Property existing on the Effective Closing Date based on the Receivables existing on the Effective Closing Date (the "Actual Effective Date Purchase Price"). If the Initial Effective Date Purchase Price paid by the Buyer on the Effective Closing Date is greater than the Actual Effective Date Purchase Price with respect to any Seller, such 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 Effective Closing Date is less than the Actual Effective Date Purchase Price with respect to any Seller, the Buyer shall pay to such 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 such Seller in the amount of the difference.