Common use of Payments on Subordinated Note Clause in Contracts

Payments on Subordinated Note. Subject to the provisions of Sections 2 and 3 of the Subordination Agreement, the Seller may make payments on the Subordinated Note at any time from Collections not comprising part of the Sold Interest in Collections. Subject to the provisions of Sections 2 and 3 of the Subordination Agreement, the Seller may make payments on the Subordinated Note from Collections comprising part of the Sold Interest in Collections, but only after paying (i) all amounts due to the Agent and Purchasers hereunder on or prior to the immediately succeeding Settlement Date, if such payments on the Subordinated Note are to be made prior to the occurrence of a Termination Event (or Potential Termination Event described in clause (b) or (e) of the definition of Termination Event), or, (ii) after paying all amounts owing (whether or not due) to the Agent and the Purchasers hereunder if such payments on the Subordinated Note are to be made after the occurrence of a Termination Event (or after the occurrence of a Potential Termination Event described in clause (b) or (e) of the definition of Termination Event).

Payments on Subordinated Note. Subject to the provisions of Sections 2 and 3 Section 9 of the Subordination AgreementSubordinated Note, the Seller may make payments on the Subordinated Note at any time from Collections not comprising part of the Sold Interest in Collections. Subject to the provisions of Sections 2 and 3 Section 9 of the Subordination AgreementSubordinated Note, the Seller may make payments on the Subordinated Note from Collections comprising part of the Sold Interest in Collections, but only after paying (i) all amounts due to the Agent and Purchasers hereunder on or prior to the immediately succeeding Settlement Date, if such payments on the Subordinated Note are to be made prior to the occurrence of a Termination Event (or Potential Termination Event described in clause (b) or (e) of the definition of Termination Event), or, (ii) after paying all amounts owing (whether or not due) to the Agent and the Purchasers hereunder if such payments on the Subordinated Note are to be made after the occurrence of a Termination Event (or after the occurrence of a Potential Termination Event described in clause (b) or (e) of the definition of Termination Event).