PURCHASE OF ACCOUNTS BY LESCO UPON TERMINATION Sample Clauses

PURCHASE OF ACCOUNTS BY LESCO UPON TERMINATION. (a) If Bank elects to terminate the Agreement under Section 9.2 hereof, then, in addition to any other rights available to Bank hereunder, Bank shall have the right to require LESCO to purchase, and in such case LESCO must purchase or arrange for the purchase of not less than all of the Accounts and related Indebtedness (other than Accounts that have been written-off by Bank) for a purchase price payable in immediately available funds equal to (i) the sum of: (x) (REDACTED)of the Aggregate Outstanding Indebtedness attributable to BRC Accounts as of the date of purchase, plus (y) with respect to Prox Accounts and Net Invoice Accounts (A) if the effective date of such termination occurs on or before the first (1st) anniversary of the Program Commencement Date, (REDACTED) of the Aggregate Outstanding Indebtedness attributable to all such Accounts as of the date of purchase; (B) if the effective date of such termination occurs after the first (1st) anniversary of the Program Commencement Date, but prior to the second (2nd) anniversary, (REDACTED)of such Indebtedness; (C) if the effective date of such termination occurs after the second (2nd) anniversary of the Program Commencement Date, but prior to the third (3rd) anniversary, (REDACTED)of such Indebtedness; (D) if the effective date of such termination occurs after the third (3rd) anniversary of the Program Commencement Date, but prior to the fourth (4th) anniversary, (REDACTED)of such Indebtedness, and (E) if the effective date of such termination occurs after the fourth (4th) anniversary, (REDACTED) of such Indebtedness, less (ii) the amount of the Loan Loss Reserve. Bank must exercise the right to require the purchase of the Accounts under this Section 10.1(a), if at all, by notifying LESCO of such election in writing within thirty (30) days after giving notice of termination under Section 9.2. If Bank elects not to require LESCO to purchase the Accounts or otherwise fails to give such notice, LESCO may nonetheless purchase the Accounts pursuant to the terms of this Section 10.1(a) by giving notice to Bank of its election to purchase the Accounts not more than forty-five (45) days after Bank's termination notice under Section 9.2. In either case, LESCO (or its designee) must thereafter purchase the Accounts and Indebtedness within one hundred twenty (120) days after the effective date of such termination. Upon receipt of the purchase price, Bank's obligation to deliver title to the Accounts and Indebtedne...
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Related to PURCHASE OF ACCOUNTS BY LESCO UPON TERMINATION

  • Deliveries Upon Termination Upon termination of this Agreement, ALPS agrees to cooperate in the orderly transfer of distribution duties and shall deliver to the Fund or as otherwise directed by the Fund (at the expense of the Fund) all records and other documents made or accumulated in the performance of its duties for the Fund hereunder. In the event ALPS gives notice of termination under this Agreement, it will continue to provide the services contemplated hereunder after such termination at the contractual rate for up to 120 days, provided that the Fund uses all reasonable commercial efforts to appoint such replacement on a timely basis.

  • Delivery upon Termination Upon termination of Manager's employment with the Company for any reason, Manager shall promptly deliver to the Company all correspondence, files, manuals, letters, notes, notebooks, reports, programs, plans, proposals, financial documents, and any other documents or data concerning the Company's or any affiliate’s customers, database, business plan, marketing strategies, processes or other materials which contain Confidential Information, together with all other property of the Company or any affiliate in Manager's possession, custody or control. ARTICLE SIX

  • Payment Upon Termination Termination of this Agreement shall not affect the right of the Adviser to receive payment on any unpaid balance of the compensation described in Section 2 earned prior to such termination.

  • Procedure Upon Termination In the event of termination by Buyer or Seller, as applicable, pursuant to Section 6.1 hereof, written notice thereof shall forthwith be given to the other party and the transactions contemplated by this Agreement shall be terminated without further action by Buyer or Seller. If the transactions contemplated by this Agreement are so terminated:

  • Payments Upon Termination (a) In the event the Employee’s employment is terminated pursuant to Section 4.1, Section 4.2, Section 4.4 or Section 4.6, the Company shall pay to the Employee the compensation and benefits otherwise payable to him or her under Sections 3.1 and 3.4 through the last day of his or her actual employment by the Company.

  • Survival Upon Termination If this Agreement is terminated pursuant to this Article 11, such termination will be without any further liability or obligation of any party hereto, except as provided in Section 6.4, Section 7.3, Section 7.7, Article 10, Section 11.5 and Section 11.6.

  • Actions Upon Termination Upon the termination of this Agreement, Issuer shall remove all references to any ODB Name, Branding and Content from the Issuer Site or Issuer Content and terminate all links on the Issuer Site to any ODB Site. ODB shall remove all references to Issuer Name, Branding and Content and terminate all links on the ODB Site to any Issuer Site. Each Party shall promptly return all Confidential Information, documents, manuals and other materials stored in any form or media (including but not limited to electronic copies) belonging to the other Party, except as may be otherwise provided in this Agreement or required by Law.

  • Obligations Upon Termination Upon termination of this Agreement, either party shall, at the request of the other party, return any document, material, database, equipment, or software containing the Confidential Information to the other party. If, for any reason, such document, material, database, equipment, or software cannot be returned, either party shall destroy all the Confidential Information belonging to the other party and delete such Confidential Information from any memory devices. No party shall be permitted to continue using the Confidential Information in any way after the termination of this Agreement.

  • Benefits Upon Termination If the Executive’s employment by the Company is terminated during the Period of Employment for any reason by the Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company shall have no further obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain from the Company, any payments or benefits except as follows:

  • Obligations of Company Upon Termination (a) In the event of the termination of Executive's employment pursuant to Section 7 (a), (b), (c) or (e), Executive will be entitled only to the compensation earned by him hereunder as of the date of such termination (plus life insurance or disability benefits if applicable and provided for pursuant to Section 4(c)).

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