Common use of Purchase of Receivables Clause in Contracts

Purchase of Receivables. Statesman may from time to time, at its option upon the terms and subject to the conditions contained in this Agreement, purchase Receivables from the Cooperative, provided that Statesman has determined in its sole and absolute discretion that such Receivables are acceptable to it (which acceptable Receivables are herein referred to as the "Eligible Receivables"), and in no event shall Statesman purchase Receivables if after such purchase the aggregate amount owing on all Receivables purchased by Statesman from the Cooperative shall exceed TWO HUNDRED MILLION DOLLARS ($200,000,000). All such purchases shall be made without recourse to the Cooperative except so far as Statesman shall have the right to make charges to the Reserve Account as provided in Section 2.05, and nothing contained herein shall obligate Statesman to purchase any Receivables.

Purchase of Receivables. Statesman may from time to ----------------------- time, at its option upon the terms and subject to the conditions contained in this Agreement, purchase Receivables from the Cooperative, provided that Statesman has determined in its sole and absolute discretion that such Receivables are acceptable to it (which acceptable Receivables are herein referred to as the "Eligible Receivables"), and in no event shall Statesman purchase Receivables if after such purchase the aggregate amount owing on all Receivables purchased by Statesman from the Cooperative shall exceed TWO HUNDRED MILLION DOLLARS ($200,000,000). All such purchases shall be made without recourse to the Cooperative except so far as Statesman shall have the right to make charges to the Reserve Account as provided in Section 2.05, and nothing contained herein shall obligate Statesman to purchase any Receivables.

Purchase of Receivables. Statesman may from time to time, at its option upon the terms and subject to the conditions contained in this Agreement, purchase Receivables from the Cooperative, provided that Statesman has determined in its sole and absolute discretion that such Receivables are acceptable to it (which acceptable Receivables are herein referred to as the "Eligible Receivables"), and in no event shall Statesman purchase Receivables if after such purchase the aggregate amount owing on all Receivables purchased by Statesman from the Cooperative shall exceed TWO ONE HUNDRED MILLION DOLLARS ($200,000,000100,000,000). All such purchases shall be made without recourse to the Cooperative except so far as Statesman shall have the right to make charges to the Reserve Account as provided in Section 2.05, and nothing contained herein shall obligate Statesman to purchase any Receivables.