Payments to Sellers. The Servicer shall withdraw from the Collection Account and pay to the Sellers on the dates set forth below the following amounts:
(i) on Deposit Dates with respect to the Revolving Period, the Early Amortization Period and the Principal Payment Period:
(A) an amount equal to the Sellers' Percentage for the related Due Period of Allocable Finance Charge Collections, minus, if Citibank (South Dakota) or an Affiliate of Citibank (South Dakota) is no longer the Servicer, the portion of the Servicing Fee with respect to the related Due Period that is required to be paid by the Sellers (which shall be withdrawn from the Collection Account and paid to the Servicer on the related Distribution Date); and
(B) an amount equal to the Sellers' Percentage for the related Due Period of Allocable Principal Collections, if the Sellers' Participation Amount (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) exceeds zero; and
(ii) on Deposit Dates with respect to any Monthly Period:
(A) an amount equal to the Sellers' Allocable Share for the related Distribution Date, minus, if Citibank (South Dakota) or an Affiliate of Citibank (South Dakota) is no longer the Servicer, the portion of the Servicing Fee with respect to the related Due Period that is required to be paid by the Sellers (which shall be withdrawn from the Collection Account and paid to the Servicer on the related Distribution Date); and
(B) an amount equal to the Sellers' Percentage for the related Due Period of Allocable Principal Collections, if the Sellers' Participation Amount (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) exceeds zero. The withdrawals to be made from the Collection Account pursuant to this Section 4.01(b) do not apply to deposits into the Collection Account that do not represent Collections, including Transfer Deposit Amounts, Adjustment Payments, payment of the purchase price for the Certificateholders' Interest pursuant to Section 2.06 or 10.01 of the Agreement, payment of the purchase price for the Series 1997-3 Certificateholders' Interest pursuant to Section 7.01 of this Series Supplement and proceeds from the sale, disposition or liquidation of Receivables pursuant to Section 9.02 or 12.02 of the Agreement.
Payments to Sellers. With respect to each Receivable sold or contributed to the Buyer by such Seller under this Agreement, the Buyer has given reasonably equivalent value to such Seller in consideration for such Receivable and the Related Security with respect thereto and no such transfer is or may be voidable under any section of the Bankruptcy Reform Act of 1978 (11 U.S.C. ss.ss.101 et seq.), as amended.
Payments to Sellers. Except as otherwise expressly provided in this Agreement, subject to the Sellers’ Representative’s right to retain amounts to pay expenses incurred in connection with fulfillment of its duties hereunder, all amounts received by the Sellers’ Representative pursuant to this Agreement, and any other amounts to be released or paid to the Sellers hereunder, shall be promptly distributed to the Sellers in accordance with and as required by their Pro-rata Interest and the respective priorities, preferences and rights set forth on Schedule 1 hereto.
Payments to Sellers. With respect to each Asset transferred to the Borrowers under the Sale and Servicing Agreement, each Borrower has given reasonably equivalent value to the applicable Seller in consideration for such transfer of such Asset and the Other Conveyed Property with respect thereto and such transfer was not made for or on account of an antecedent debt. With respect to each Asset transferred to a Seller under a Purchase and Sale Agreement, such Seller has given reasonably equivalent value to the applicable seller thereunder in consideration for such transfer of such Asset and the Other Conveyed Property with respect thereto and such transfer was not made for or on account of an antecedent debt.
Payments to Sellers. All amounts payable to Sellers under this Agreement, including the Exxxxxx Money and the Purchase Price, shall be paid at the Closing to Sellers in accordance with their joint written instructions.
Payments to Sellers. 13 (u) INVESTMENT COMPANY ACT; PUBLIC UTILITY HOLDING COMPANY ACT; OTHER RESTRICTIONS.........................13 (v) SOLVENCY...............................................................................................13 (w) ERISA..................................................................................................13 (x) BULK SALES ACT.........................................................................................14 (y) RELIANCE ON SEPARATE LEGAL IDENTITY....................................................................14
Payments to Sellers. On or before the fifteenth day after the end of each full calendar month during the Collection Period, Buyer shall furnish to Sellers (i) a list of the amounts collected before the end of such month with respect to Sellers' Receivables, and (ii) the amount collected during such month with respect to Sellers' Receivables. On or before the fifteenth day after the end of the Collection Period, Buyer shall furnish Sellers with a list of all of Sellers' Receivables which remain uncollected at the end of the Collection Period.
Payments to Sellers. In connection with any payment obligation of Buyer hereunder, Sellers shall provide Buyer with payment instructions. In the absence of joint instructions by Sellers, Buyer shall be deemed to have discharged such payment obligation by paying one half of such payment obligation to each Seller (in accordance with the instructions received by such Seller).
Payments to Sellers. Except as set forth on Schedule 3.1(o) or as contemplated by Section 4.4 or other provisions of this Agreement or any Related Agreement, neither the execution and delivery of this Agreement nor any other Related Agreement to which a Seller is a party, nor the consummation of the Stock Purchase Agreement Transactions will (either alone, or upon the occurrence of any act or event, or with or without notice, the lapse of time, or both) result in any payment arising or becoming due from the Company or any Company Subsidiary to Sellers or any other Affiliate of Sellers.
Payments to Sellers. Notwithstanding anything in this Agreement to the contrary, any payment required to be made by the Purchaser (or from the Remediation Escrow Fund) to any Seller pursuant to this Agreement shall, if so directed by the Bankruptcy Court, be deposited into an escrow account for the benefit of the estates of all of the Sellers in lieu of being paid to such Seller.
