{"component": "clause", "props": {"groups": [{"snippet": "(a) A Purchase Discount equal to the weighted average of the following (net of any Hedging Proceeds in respect of the related Settlement Period):\n(i) the weighted average of the discount rates on all commercial paper notes issued at a discount and outstanding during the related Settlement Period (other than commercial paper notes the proceeds of which are used by the Purchaser to (A) purchase receivables, or extend financing secured thereby, at a fixed interest rate or (B) conduct any arbitrage activities of the Purchaser), converted to an annual yield-equivalent rate on the basis of a 365-day year;\n(ii) the weighted average of the annual interest rates payable on all interest-bearing commercial paper notes outstanding during the related Settlement Period (other than the commercial paper notes described in clauses (A) and (B) of paragraph (i) above), on the basis of a 365-day year; and\n(iii) the weighted average of the annual interest rates applicable to any Liquidity Facilities under which the Purchaser has borrowed loans during the related Settlement Period (which loans shall be borrowed only after a determination by the Purchaser that financing its activities during such period by issuing commercial paper notes would not be practicable or cost-efficient); provided that to the extent that the Investment is funded by a specific issuance of commercial paper notes and/or by a specific borrowing under a Liquidity Facility or a Credit Facility, the Purchase Discount shall equal the rate or weighted average of the rates applicable to such issuance or borrowing, provided, further, that, for purposes of the foregoing, the interest rates applicable under any Liquidity Facility shall be equal to one-half of one per cent (0.50%) per annum in excess of the greater of (A) the rate of interest per annum for overnight interbank loans in respect of Canadian dollar funds having a term of one day, and (B) the Banker's Acceptance Rate for the applicable Settlement Period.\n(b) Two calendar days prior to the end of each Settlement Period (or if such day is not a Business Day, the immediately preceding Business Day), the Administrative Agent shall determine the Purchase Discount pursuant to (a) above by using the actual Purchase Discount for each day elapsed in such month and estimating the Purchase Discount for each remaining day in such month. In addition, the Administrative Agent shall concurrently notify the Servicer of the actual Purchase Discount for any days during the immediately preceding Settlement Period with respect to which the Purchase Discount was estimated, and the difference, if any, between the Carrying Costs actually paid using the estimated Purchase Discount and the Carrying Costs which would have been paid had the actual Purchase Discount been available (such differential being the \"Carrying Costs True-up Amount\"). If the amount of Carrying Costs paid for such immediately preceding Settlement Period based upon an estimated Purchase Discount was less than the amount of Carrying Costs for such Settlement Period based upon the actual Purchase Discount, the amount of Collections remitted to the Purchaser pursuant to Section 5.4 shall be increased by an amount equal to the Carrying Costs True-up Amount, or, if the amount of Carrying Costs paid for such immediately preceding Settlement Period based upon an estimated Purchase Discount was greater than the amount of Carrying Costs for such Settlement Period based upon the actual Purchase Discount, the amount of Collections remitted to the Purchaser pursuant to Section 5.4 shall be decreased by an amount equal to the Carrying Costs True-up Amount.", "size": 11, "snippet_links": [{"key": "a-purchase", "type": "definition", "offset": [4, 14]}, {"key": "equal-to", "type": "definition", "offset": [24, 32]}, {"key": "weighted-average", "type": "clause", "offset": [37, 53]}, {"key": "hedging-proceeds", "type": "definition", "offset": [83, 99]}, {"key": "in-respect-of", "type": "clause", "offset": [100, 113]}, {"key": "discount-rates", "type": "clause", "offset": [178, 192]}, {"key": "by-the-purchaser", "type": "clause", "offset": [363, 379]}, {"key": "fixed-interest-rate", "type": "clause", "offset": [451, 470]}, {"key": "of-the-purchaser", "type": "clause", "offset": [511, 527]}, {"key": "annual-yield", "type": "definition", "offset": [546, 558]}, {"key": "equivalent-rate", "type": "definition", "offset": [559, 574]}, {"key": "basis-of", "type": "clause", "offset": [582, 590]}, {"key": "annual-interest-rates", "type": "clause", "offset": [640, 661]}, {"key": "notes-outstanding", "type": "definition", "offset": [711, 728]}, {"key": "in-clauses", "type": "clause", "offset": [815, 825]}, {"key": "applicable-to", "type": "clause", "offset": [955, 968]}, {"key": "liquidity-facilities", "type": "clause", "offset": [973, 993]}, {"key": "loans-shall", "type": "definition", "offset": [1083, 1094]}, {"key": "provided-that", "type": "clause", "offset": [1279, 1292]}, {"key": "to-the-extent", "type": "clause", "offset": [1293, 1306]}, {"key": "the-investment", "type": "definition", "offset": [1312, 1326]}, {"key": "issuance-of-commercial-paper-notes", "type": "clause", "offset": [1351, 1385]}, {"key": "liquidity-facility", "type": "definition", "offset": [1425, 1443]}, {"key": "credit-facility", "type": "clause", "offset": [1449, 1464]}, {"key": "the-rates", "type": "clause", "offset": [1532, 1541]}, {"key": "the-foregoing", "type": "definition", "offset": [1625, 1638]}, {"key": "the-interest", "type": "definition", "offset": [1640, 1652]}, {"key": "facility-shall", "type": "clause", "offset": [1690, 1704]}, {"key": "per-cent", "type": "definition", "offset": [1733, 1741]}, {"key": "per-annum", "type": "definition", "offset": [1750, 1759]}, {"key": "rate-of-interest", "type": "definition", "offset": [1796, 1812]}, {"key": "canadian-dollar", "type": "definition", "offset": [1867, 1882]}, {"key": "having-a", "type": "definition", "offset": [1889, 1897]}, {"key": "term-of", "type": "clause", "offset": [1898, 1905]}, {"key": "acceptance-rate", "type": "definition", "offset": [1936, 1951]}, {"key": "applicable-settlement-period", "type": "definition", "offset": [1960, 1988]}, {"key": "prior-to-the", "type": "clause", "offset": [2012, 2024]}, {"key": "not-a-business-day", "type": "clause", "offset": [2074, 2092]}, {"key": "agent-shall", "type": "definition", "offset": [2154, 2165]}, {"key": "determine-the", "type": "clause", "offset": [2166, 2179]}, {"key": "in-addition", "type": "clause", "offset": [2368, 2379]}, {"key": "the-servicer", "type": "definition", "offset": [2432, 2444]}, {"key": "with-respect-to", "type": "clause", "offset": [2541, 2556]}, {"key": "carrying-costs", "type": "clause", "offset": [2640, 2654]}, {"key": "actually-paid", "type": "definition", "offset": [2655, 2668]}, {"key": "amount-of-collections", "type": "clause", "offset": [3111, 3132]}, {"key": "section-54", "type": "clause", "offset": [3171, 3182]}, {"key": "increased-by", "type": "clause", "offset": [3192, 3204]}, {"key": "decreased-by", "type": "clause", "offset": [3590, 3602]}], "samples": [{"hash": "ePbjt3NTL5F", "uri": "/contracts/ePbjt3NTL5F#purchase-discount", "label": "Receivables Sale Agreement (Chrysler Financial Corp)", "score": 18.0, "published": true}, {"hash": "9mnS0K8LGVS", "uri": "/contracts/9mnS0K8LGVS#purchase-discount", "label": "Receivables Sale Agreement (Chrysler Financial Corp)", "score": 18.0, "published": true}], "hash": "645a92fc95da2a97043e5208c3658d75", "id": 1}, {"snippet": "NATIONAL GRID will charge ESCO a Purchase Discount. The discount rate for the Purchase Discount shall be consistent with the terms of the Joint Proposal.", "size": 6, "snippet_links": [{"key": "national-grid", "type": "definition", "offset": [0, 13]}, {"key": "a-purchase", "type": "definition", "offset": [31, 41]}, {"key": "discount-rate", "type": "definition", "offset": [56, 69]}, {"key": "the-purchase", "type": "clause", "offset": [74, 86]}, {"key": "joint-proposal", "type": "clause", "offset": [138, 152]}], "samples": [{"hash": "go1yUzluTT2", "uri": "/contracts/go1yUzluTT2#purchase-discount", "label": "Billing Services Agreement", "score": 26.0596709892, "published": true}, {"hash": "aWfoGEDOkmm", "uri": "/contracts/aWfoGEDOkmm#purchase-discount", "label": "Billing Services Agreement", "score": 26.0596709892, "published": true}, {"hash": "nkjNjlcIIw", "uri": "/contracts/nkjNjlcIIw#purchase-discount", "label": "Billing Services Agreement", "score": 22.8843245962, "published": true}], "hash": "c399dc886b2361509c8bbf19f03bf09f", "id": 2}, {"snippet": "With respect to any Account Receivable within any particular", "size": 3, "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "account-receivable", "type": "definition", "offset": [20, 38]}], "samples": [{"hash": "nkjNjlcIIw", "uri": "/contracts/nkjNjlcIIw#purchase-discount", "label": "Billing Services Agreement", "score": 22.8843245962, "published": true}, {"hash": "1Q30cQFUoVe", "uri": "/contracts/1Q30cQFUoVe#purchase-discount", "label": "Billing Services Agreement", "score": 20.9425051335, "published": true}, {"hash": "gqP946rSV6L", "uri": "/contracts/gqP946rSV6L#purchase-discount", "label": "Billing Services Agreement", "score": 20.0292502101, "published": true}], "hash": "c1a6d825b9f4a407b791c004fb8d3b00", "id": 3}, {"snippet": "The Consortium Member will acquire property with NSP2 funds at a minimum discount of one percent for each residential property. This requirement applies to all properties purchased with NSP2 funds, and the discount must be taken from the current market appraised value as described in the \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587.", "size": 2, "snippet_links": [{"key": "consortium-member", "type": "clause", "offset": [4, 21]}, {"key": "acquire-property", "type": "clause", "offset": [27, 43]}, {"key": "minimum-discount", "type": "definition", "offset": [65, 81]}, {"key": "residential-property", "type": "definition", "offset": [106, 126]}, {"key": "applies-to", "type": "clause", "offset": [145, 155]}, {"key": "all-properties", "type": "clause", "offset": [156, 170]}, {"key": "current-market-appraised-value", "type": "definition", "offset": [238, 268]}, {"key": "the-\u2587", "type": "clause", "offset": [285, 290]}], "samples": [{"hash": "hK5gRRAoBLf", "uri": "/contracts/hK5gRRAoBLf#purchase-discount", "label": "Consortium Funding Agreement", "score": 24.3935660507, "published": true}, {"hash": "36VQh6pYQIt", "uri": "/contracts/36VQh6pYQIt#purchase-discount", "label": "Consortium Funding Agreement", "score": 24.3538672142, "published": true}], "hash": "74edab7b5ceeea9b037d6d5348e0b4f0", "id": 4}, {"snippet": "With respect to any Account Receivable within any particular service classification, shall mean the discount rate for such service classification multiplied by the face amount of such Accounts Receivable excluding any applicable state sales tax for such Account Receivable.", "size": 2, "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "account-receivable", "type": "definition", "offset": [20, 38]}, {"key": "service-classification", "type": "definition", "offset": [61, 83]}, {"key": "discount-rate", "type": "definition", "offset": [100, 113]}, {"key": "face-amount", "type": "definition", "offset": [164, 175]}, {"key": "accounts-receivable", "type": "clause", "offset": [184, 203]}, {"key": "state-sales-tax", "type": "definition", "offset": [229, 244]}], "samples": [{"hash": "go1yUzluTT2", "uri": "/contracts/go1yUzluTT2#purchase-discount", "label": "Billing Services Agreement", "score": 26.0596709892, "published": true}, {"hash": "fnJKzZnZHJF", "uri": "/contracts/fnJKzZnZHJF#purchase-discount", "label": "Agreement for Billing Services and for the Purchase of Electric Accounts Receivable", "score": 20.9425051335, "published": true}], "hash": "20d1cbe38fcfacbb8ef87517bb9cdeb0", "id": 5}, {"snippet": "The Developer will acquire property with NSP funds at a minimum discount of one percent for each residential property. This requirement applies to all properties purchased with NSP funds, and the discount must be taken from the current market appraised value.", "size": 2, "snippet_links": [{"key": "the-developer-will", "type": "clause", "offset": [0, 18]}, {"key": "acquire-property", "type": "clause", "offset": [19, 35]}, {"key": "minimum-discount", "type": "definition", "offset": [56, 72]}, {"key": "residential-property", "type": "definition", "offset": [97, 117]}, {"key": "applies-to", "type": "clause", "offset": [136, 146]}, {"key": "all-properties", "type": "clause", "offset": [147, 161]}, {"key": "current-market-appraised-value", "type": "definition", "offset": [228, 258]}], "samples": [{"hash": "fxKe9cv9AR2", "uri": "/contracts/fxKe9cv9AR2#purchase-discount", "label": "NSP Developer Agreement", "score": 25.1861738535, "published": true}], "hash": "1e1287a1c3a1a508694870fda89146f4", "id": 6}, {"snippet": "A Purchase Discount equal to, for each day in any Settlement Period, the weighted average of the following:\n(i) the weighted average determined on each such day of the discount rates on all commercial paper notes issued by the Conduit Purchaser at a discount on such day (other than commercial paper notes the proceeds of which are used by the Conduit Purchaser to (x) purchase receivables, or extend financing secured thereby, at a fixed interest rate or (y) conduct any arbitrage activities of the Conduit Purchaser), converted to an annual yield-equivalent rate on the basis of a 360-day year;\n(ii) the weighted average determined on each such day of the annual interest rates payable on all interest-bearing commercial paper notes issued by the Conduit Purchaser on such day (other than (A) the commercial paper notes described in clauses (x) and (y) of paragraph (i) above), on the basis of a 360-day year;\n(iii) the Alternative Rate for the Settlement Period relating to the Settlement Date to the extent that the Conduit Purchaser has borrowed money during such Settlement Period (which money shall be borrowed only after a determination by the Conduit Purchaser that financing its activities during such period by issuing commercial paper notes would not be practicable or cost-efficient); and\n(iv) the Alternative Rate for the Settlement Period relating to such Settlement Date in respect of that portion of the Investment, if any, allocable to the Ownership Interest of the Back-Stop Purchaser.", "size": 2, "snippet_links": [{"key": "a-purchase", "type": "definition", "offset": [0, 10]}, {"key": "equal-to", "type": "definition", "offset": [20, 28]}, {"key": "settlement-period", "type": "definition", "offset": [50, 67]}, {"key": "weighted-average", "type": "clause", "offset": [73, 89]}, {"key": "day-of", "type": "clause", "offset": [157, 163]}, {"key": "discount-rates", "type": "clause", "offset": [168, 182]}, {"key": "commercial-paper-notes", "type": "clause", "offset": [190, 212]}, {"key": "issued-by", "type": "definition", "offset": [213, 222]}, {"key": "conduit-purchaser", "type": "definition", "offset": [227, 244]}, {"key": "fixed-interest-rate", "type": "clause", "offset": [433, 452]}, {"key": "activities-of-the", "type": "clause", "offset": [482, 499]}, {"key": "annual-yield", "type": "definition", "offset": [536, 548]}, {"key": "equivalent-rate", "type": "definition", "offset": [549, 564]}, {"key": "basis-of", "type": "clause", "offset": [572, 580]}, {"key": "annual-interest-rates", "type": "clause", "offset": [658, 679]}, {"key": "in-clauses", "type": "clause", "offset": [832, 842]}, {"key": "alternative-rate", "type": "definition", "offset": [922, 938]}, {"key": "relating-to", "type": "definition", "offset": [965, 976]}, {"key": "the-settlement-date", "type": "clause", "offset": [977, 996]}, {"key": "to-the-extent", "type": "clause", "offset": [997, 1010]}, {"key": "borrowed-money", "type": "clause", "offset": [1042, 1056]}, {"key": "in-respect-of", "type": "clause", "offset": [1387, 1400]}, {"key": "the-investment", "type": "definition", "offset": [1417, 1431]}, {"key": "the-ownership-interest", "type": "clause", "offset": [1454, 1476]}], "samples": [{"hash": "9ntnin32Ifx", "uri": "/contracts/9ntnin32Ifx#purchase-discount", "label": "Credit Card Receivables Purchase Agreement (Ultramar Diamond Shamrock Corp)", "score": 18.0, "published": true}], "hash": "48d0cb5e4bf36f7d69e465a813e76963", "id": 7}, {"snippet": "A Purchase Discount equal to the weighted average of the following:\n(a) the weighted average of the discount rates on all commercial paper notes issued at a discount and outstanding during the related Settlement Period (other than commercial paper notes the proceeds of which are used by the Purchasers to (x) purchase receivables, or extend financing secured thereby, at a fixed interest rate or (y) conduct any arbitrage activities of the Purchasers), converted to an annual yield-equivalent rate on the basis of a 360-day year;\n(b) the weighted average of the annual interest rates payable on all interest-bearing commercial paper notes outstanding during the related Settlement Period (other than the commercial paper notes described in clauses (x) and (y) of paragraph (i) above), on the basis of a 360-day year; and\n(c) the weighted average of the annual interest rates applicable to any Liquidity Facilities under which the Purchasers have borrowed loans during the related Settlement Period (which loans shall be borrowed only after a determination by the Purchasers that financing its activities during such period by issuing commercial paper notes would not be practicable or cost-efficient); provided that, to the extent that the Investment is funded by a specific issuance of commercial paper notes and/or by a specific funding under a Liquidity Facility or a Credit Facility, the Purchase Discount shall equal the rate or weighted average of the rates applicable to such issuance or borrowing, provided, further, that, for purposes of the foregoing, the interest rates applicable under any Liquidity Facility and or any Credit Facility shall not exceed the reserve adjusted \"LIBO Rate\" quoted by the Administrative Agent plus 0.50 % (50 basis points) per annum.", "size": 2, "snippet_links": [{"key": "a-purchase", "type": "definition", "offset": [0, 10]}, {"key": "equal-to", "type": "definition", "offset": [20, 28]}, {"key": "weighted-average", "type": "clause", "offset": [33, 49]}, {"key": "discount-rates", "type": "clause", "offset": [100, 114]}, {"key": "settlement-period", "type": "definition", "offset": [201, 218]}, {"key": "by-the-purchasers", "type": "clause", "offset": [285, 302]}, {"key": "fixed-interest-rate", "type": "clause", "offset": [374, 393]}, {"key": "of-the-purchasers", "type": "clause", "offset": [434, 451]}, {"key": "annual-yield", "type": "definition", "offset": [470, 482]}, {"key": "equivalent-rate", "type": "definition", "offset": [483, 498]}, {"key": "basis-of", "type": "clause", "offset": [506, 514]}, {"key": "annual-interest-rates", "type": "clause", "offset": [563, 584]}, {"key": "notes-outstanding", "type": "definition", "offset": [634, 651]}, {"key": "in-clauses", "type": "clause", "offset": [738, 748]}, {"key": "applicable-to", "type": "clause", "offset": [876, 889]}, {"key": "liquidity-facilities", "type": "clause", "offset": [894, 914]}, {"key": "loans-shall", "type": "definition", "offset": [1006, 1017]}, {"key": "provided-that", "type": "clause", "offset": [1203, 1216]}, {"key": "to-the-extent", "type": "clause", "offset": [1218, 1231]}, {"key": "the-investment", "type": "definition", "offset": [1237, 1251]}, {"key": "issuance-of-commercial-paper-notes", "type": "clause", "offset": [1276, 1310]}, {"key": "liquidity-facility", "type": "definition", "offset": [1348, 1366]}, {"key": "credit-facility", "type": "clause", "offset": [1372, 1387]}, {"key": "the-rates", "type": "clause", "offset": [1455, 1464]}, {"key": "the-foregoing", "type": "definition", "offset": [1548, 1561]}, {"key": "the-interest", "type": "definition", "offset": [1563, 1575]}, {"key": "facility-shall", "type": "clause", "offset": [1640, 1654]}, {"key": "the-reserve", "type": "clause", "offset": [1666, 1677]}, {"key": "libo-rate", "type": "clause", "offset": [1688, 1697]}, {"key": "the-administrative-agent", "type": "clause", "offset": [1709, 1733]}, {"key": "basis-points", "type": "clause", "offset": [1750, 1762]}, {"key": "per-annum", "type": "definition", "offset": [1764, 1773]}], "samples": [{"hash": "7SYCgIZwUof", "uri": "/contracts/7SYCgIZwUof#purchase-discount", "label": "Receivables Sale Agreement (Chrysler Financial Corp)", "score": 18.0, "published": true}], "hash": "24bba3d3568e4d07485b3f5215e9b204", "id": 8}, {"snippet": "For each Calendar Quarter that Nova Factor's Purchases of Nutropin Depot Units as a percent of Nova Factor's total Purchases of Genentech HGH Units * set forth in Table 1 of Exhibit D attached hereto, the relevant additional discount amount set forth in Table 1 of Exhibit D shall be added to the sum of the Base Discount and any Data Discount and/or any Exclusivity Discount * - Confidential Treatment Requested", "size": 1, "snippet_links": [{"key": "calendar-quarter", "type": "clause", "offset": [9, 25]}, {"key": "nova-factor", "type": "definition", "offset": [31, 42]}, {"key": "total-purchases", "type": "definition", "offset": [109, 124]}, {"key": "table-1", "type": "clause", "offset": [163, 170]}, {"key": "exhibit-d", "type": "definition", "offset": [174, 183]}, {"key": "the-relevant", "type": "clause", "offset": [201, 213]}, {"key": "discount-amount", "type": "definition", "offset": [225, 240]}, {"key": "sum-of", "type": "clause", "offset": [297, 303]}, {"key": "confidential-treatment-requested", "type": "definition", "offset": [380, 412]}], "samples": [{"hash": "lLVUyPJuC91", "uri": "/contracts/lLVUyPJuC91#purchase-discount", "label": "Contract for the Sale and Distribution (Accredo Health Inc)", "score": 18.0, "published": true}], "hash": "6762c43eae009634c701759e79c64100", "id": 9}, {"snippet": "Purchase Discount\" for the Receivables and Related Assets that were purchased from each Originator during the Purchase Period immediately preceding a Payment Date shall be determined in accordance with the following formula: PD = AOB x (LD + FD) where: PD = the Purchase Discount as measured on such Payment Date; AOB, in respect of such Originator, has the meaning set forth in Section 1.4; LD = the Loss Discount as measured on such Payment Date, as determine pursuant to paragraph (b) below; and FD = the Funding Discount as measured on such Payment Date, as determined pursuant to paragraph (c) below.", "size": 1, "snippet_links": [{"key": "receivables-and-related-assets", "type": "definition", "offset": [27, 57]}, {"key": "purchase-period", "type": "clause", "offset": [110, 125]}, {"key": "payment-date", "type": "clause", "offset": [150, 162]}, {"key": "in-accordance-with", "type": "definition", "offset": [183, 201]}, {"key": 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[["", ""], ["interest-act-canada", "Interest Act (Canada)"]], "title": "Purchase Discount", "size": 35, "id": "purchase-discount", "related": [["volume-discounts", "Volume Discounts", "Volume Discounts"], ["sale-or-discount-of-receivables", "Sale or Discount of Receivables", "Sale or Discount of Receivables"], ["additional-discounts", "Additional Discounts?", "Additional Discounts?"], ["payment-terms-discounts", "PAYMENT TERMS/DISCOUNTS", "PAYMENT TERMS/DISCOUNTS"], ["volume-and-additional-discounts", "Volume and Additional Discounts", "Volume and Additional Discounts"]], "related_snippets": [], "updated": "2025-07-07T12:37:53+00:00", "also_ask": [], "drafting_tip": null, "explanation": "A Purchase Discount clause establishes the terms under which a buyer is entitled to a reduction in the purchase price, typically as an incentive for early payment or bulk purchases. This clause may specify the percentage of the discount, the conditions that must be met to qualify (such as payment within a certain number of days), and any limitations or exclusions. Its core practical function is to encourage prompt payment or larger orders, benefiting the seller with improved cash flow and the buyer with cost savings."}, "json": true, "cursor": ""}}