Purchase and Sale Termination Events. Each of the following events or occurrences described in this Section 8.1 shall constitute a “Purchase and Sale Termination Event” (each event which with notice or the passage of time or both would become a Purchase and Sale Termination Event being referred to herein as an “Unmatured Purchase and Sale Termination Event”):
(a) the Termination Date shall have occurred;
(b) any Originator shall fail to make when due any payment or deposit to be made by it under this Agreement or any other Transaction Document to which it is a party and such failure shall remain unremedied for three (3) Business Days;
(c) any representation or warranty made or deemed to be made by any Originator under or in connection with this Agreement, any other Transaction Documents to which it is a party, or any other written information or report delivered pursuant hereto or thereto shall prove to have been incorrect or untrue in any material respect when made or deemed made or delivered; provided, that such circumstance shall not constitute a Purchase and Sale Termination Event if such representation or warranty, or such information or report, is part of an Information Package, is corrected promptly (but not later than two (2) Business Days) after the Originator has knowledge or receives notice thereof; provided, further that no breach of a representation or warranty set forth in Sections 5.5, 5.12, 5.20, 5.22, 5.23 or 5.27 shall constitute a Purchase and Sale Termination Event pursuant to this clause (c) if credit has been given for a reduction of the Purchase Price, the outstanding principal balance of the applicable Intercompany Loan has been reduced or the applicable Originator has made a cash payment to the Buyer, in any case, as required pursuant to Section 3.3(c) with respect to such breach;
(d) any Originator shall fail to perform or observe any other term, covenant or agreement contained in this Agreement or any other Transaction Document to which it is a party on its part to be performed or observed and such failure shall continue unremedied for thirty (30) days after the such Originator has knowledge or receives written notice thereof; or
(e) any Insolvency Proceeding shall be instituted against any Originator and such proceeding shall remain undismissed or unstayed for a period of sixty (60) consecutive days or any of the actions sought in such proceeding (including the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other simila...
Purchase and Sale Termination Events. Each of the following events or occurrences described in this Section 8.1 shall constitute a “Purchase and Sale Termination Event”:
Purchase and Sale Termination Events. As soon as possible after the Originator has knowledge of the occurrence of, and in any event within three Business Days after the Originator has knowledge of the occurrence of each Purchase and Sale Termination Event or each Unmatured Purchase and Sale Termination Event in respect of the Originator, the statement of the chief financial officer or chief accounting officer of the Originator describing such Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event and the action that the Originator proposes to take with respect thereto, in each case in reasonable detail;
Purchase and Sale Termination Events. As soon as possible, and in any event within three (3) Business Days after such Originator becomes aware of the occurrence of each Purchase and Sale Termination Event or each event which with notice or the passage of time or both would become a Purchase and Sale Termination Event (an “Unmatured Purchase and Sale Termination Event”), a written statement of the chief financial officer or chief accounting officer of such Originator describing such Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event and the action that such Originator proposes to take with respect thereto, in each case in reasonable detail;
Purchase and Sale Termination Events. As soon as possible and in any event within five Business Days after becoming aware of the occurrence of any Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event, a statement of a financial officer of such Originator setting forth details of such Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event and the actions taken and proposed to be taken with respect thereto;
Purchase and Sale Termination Events. 8.1. Purchase and Sale Termination Events....................................................19 8.2. Remedies................................................................................20 ARTICLE IX
Purchase and Sale Termination Events. Each of the following events or occurrences described in this Section 8.1 shall constitute a "Purchase and Sale Termination Event":
(a) The Commitment Termination Date shall have occurred; or
(b) Originator shall fail to make any payment or deposit to be made by it hereunder when due and such failure shall remain unremedied for three Business Days after the earlier to occur of (i) discovery thereof by an Authorized Officer of Originator or (ii) notice thereof shall have been given by Servicer, the Administrative Agent or the Company to Originator; or
(c) Any representation or warranty made or deemed to be made by Originator (or any of its officers) under or in connection with this Agreement, any other Loan Document or any other information or report delivered pursuant hereto or thereto shall prove to have been false or incorrect in any material respect when made or deemed made; or
(d) Originator shall fail to perform or observe in any material respect any agreement contained in any of Sections 6.1(h) or 6.3; or
(e) Originator shall fail to perform or observe any other term, covenant or agreement contained in this Agreement on its part to be performed or observed and such failure shall remain unremedied for thirty (30) days after the earlier to occur of (i) discovery thereof by an Authorized Officer of Originator or (ii) notice thereof shall have been given by Servicer, the Administrative Agent or the Company to Originator; or
(f) An Event of Bankruptcy shall have occurred with respect to Originator; or
(g) A contribution failure shall occur with respect to any benefit plans sufficient to give rise to a Lien under Section 302(f)
Purchase and Sale Termination Events. As soon as possible, and in any event within three (3) Business Days after such Transferor becomes aware of the occurrence of each Purchase and Sale Termination Event with respect to such Transferor or each event which with notice or the passage of time or both would become a Purchase and Sale Termination Event (an “Unmatured Purchase and Sale Termination Event”) with respect to such Transferor, a written statement of the chief financial officer, treasurer or chief accounting officer of such Transferor describing such Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event and any action that such Transferor proposes to take with respect thereto, in each case in reasonable detail;
Purchase and Sale Termination Events. Each of the following events or occurrences described in this Section 8.1 shall constitute a "Purchase and Sale Termination Event":
(a) A Termination Event shall have occurred and, except for the Termination Event described in Section 10.01(j) of the Receivables Purchase Agreement, the Buyer shall have declared the Purchase and Sale Termination Date to have occurred; or
(b) Any Originator shall fail to make any payment or deposit to be made by it hereunder when due; or
(c) Any representation or warranty made or deemed to be made by any Originator (or any of its officers) under or in connection with this Agreement, any other Purchase Documents, or any other information or report delivered pursuant hereto or thereto shall prove to have been false or incorrect in any material respect when made or deemed made; or
(d) Any Originator shall fail to perform or observe any other term, covenant or agreement contained in this Agreement on its part to be performed or observed and such failure shall remain unremedied for 20 days after written notice thereof shall have been given by the Servicer to such Originator.
Purchase and Sale Termination Events. As used in this Agreement, “Purchase and Sale Termination Event” means with respect to an Originator, the occurrence of any Termination Event (as such term is defined in the Receivables Purchase Agreement) under clause (g) of the definition thereof, related to such Originator.
