Common use of Purchase Price Payments Clause in Contracts

Purchase Price Payments. (a) On the Business Day following each day on which any Receivables and Related Assets are purchased by Buyer pursuant to ARTICLE I, on the terms and subject to the conditions of this Agreement, Buyer shall pay to the Sellers the Purchase Price for the Receivables and Related Assets purchased on such day by Buyer by (i) making a cash payment to Servicer (for the account of the Sellers) to the extent that Buyer has cash available to make the payment pursuant to SECTION 3.3 and (ii) if the Purchase Price to be paid for the Receivables and Related Assets of any Seller exceeds the amount of any cash payment for the account of such Seller on such day pursuant to CLAUSE (i), by (x) automatically increasing the principal amount outstanding under the relevant Buyer Notes by the amount of the excess, provided that such increase shall not cause the Issuer Net Worth to be less than $26,000,000, or (y) at the option of Xxxxxx (as evidenced by notice to Servicer), only in the case of Xxxxxx as Seller, such excess shall be considered to have been contributed to Buyer by Xxxxxx as a capital contribution. The obligation of Buyer to pay the Purchase Price for Receivables that has been deferred pursuant to the preceding paragraph shall be evidenced by Buyer Notes. Each Seller agrees that, prior to the Seller Maturity Date, Buyer shall be required to make payments in respect of the payment obligations evidenced by the Buyer Notes only to the extent that it has cash available under SECTION 3.3.

Purchase Price Payments. (a) On the Business Day following each day on which any Receivables and Related Purchased Assets are purchased by Buyer pursuant to ARTICLE I, Article I on the terms and subject to the conditions of this Agreement, Buyer shall pay to the Sellers the Purchase Price (as adjusted in accordance with this Section 3.1) for the Receivables and Related Purchased Assets purchased on such day by Buyer by from the Sellers by: (i) making a cash payment to Servicer (for the account of the Sellers) Sellers to the extent that Buyer has cash available to make the payment pursuant to SECTION Section 3.3 and (ii) if the Purchase Price to be paid for the Receivables and Related Assets of any Seller exceeds the amount of any cash payment for the account of such Seller on such day pursuant to CLAUSE clause (i), then by (x) automatically increasing the principal amount outstanding under the relevant Buyer Notes by the amount of the excess, provided that such increase shall not cause the Issuer Net Worth to be less than $26,000,000, excess or (y) at the option of Xxxxxx (as evidenced by notice to Servicer), only in the case of Xxxxxx as Seller, such excess shall be considered to have been contributed to Buyer by Xxxxxx as a capital contributionotherwise elects. The obligation of Buyer to pay to each Seller the Purchase Price for Receivables that has been deferred pursuant to clause (ii) in the preceding paragraph shall be evidenced by the Buyer NotesNotes issued to such Seller. Each Seller agrees that, prior to the Seller Maturity Date, Buyer shall be required to make payments in respect of the payment obligations evidenced by the Buyer Notes only to the extent that it has cash available under SECTION Section 3.3.

Purchase Price Payments. (a) On the First Issuance Date and on the Business Day following each day on which any Receivables and Related Assets are purchased by Buyer pursuant to ARTICLE Article I, on the terms and subject to the conditions of this Agreement, Buyer shall pay to the Sellers the Purchase Price for the Receivables and Related Assets purchased on such day by Buyer by (i) making a cash payment to Servicer (for the account of the Sellers) to the extent that Buyer has cash available to make the payment pursuant to SECTION Section 3.3 and (ii) if the Purchase Price to be paid for the Receivables and Related Assets of any Seller exceeds the amount of any cash payment for the account of such Seller on such day pursuant to CLAUSE clause (i), by (x) automatically increasing the principal amount outstanding under the relevant Buyer Notes by the amount of the excess, provided that such increase shall not cause the Issuer Net Worth to be less than $26,000,000, excess or (y) at the option of Xxxxxx Treasure Chest (as evidenced by notice to Servicer), only in the case of Xxxxxx Treasure Chest as Seller, such excess shall be considered to have been contributed to Buyer by Xxxxxx Treasure Chest as a capital contribution. The obligation of Buyer to pay the Purchase Price for Receivables that has been deferred pursuant to the preceding paragraph shall be evidenced by Buyer Notes. Each Seller agrees that, prior to the Seller Maturity Date, Buyer shall be required to make payments in respect of the payment obligations evidenced by the Buyer Notes only to the extent that it has cash available under SECTION Section 3.3.

Purchase Price Payments. (a) On the First Issuance Date and on the Business Day following each day on which any Receivables and Related Purchased Assets are purchased by Buyer pursuant to ARTICLE Article I, on the terms and subject to the conditions of this Agreement, Buyer shall pay to the Sellers the Purchase Price for the Receivables and Related Purchased Assets purchased on such day by Buyer from the Sellers by (i) making a cash payment to Servicer (for the account of the Sellers) Sellers to the extent that Buyer has cash available to make the payment pursuant to SECTION Section 3.3 and (ii) if the Purchase Price to be paid for the Receivables and Related Assets of any Seller exceeds the amount of any cash payment for the account of such Seller on such day pursuant to CLAUSE clause (i), by (x) automatically increasing the principal amount outstanding under the relevant Buyer Notes by the amount of the excess, provided that such increase shall not cause the Issuer Net Worth to be less than $26,000,000, excess (or (y) at the option of Xxxxxx the Parent, if and to the extent it shall become a Seller (as evidenced by notice to ServicerInitial Collection Agent if the Initial Collection Agent is other than the Parent), and only in the case of Xxxxxx as the Parent, when and if it shall become a Seller, such excess shall be considered deemed to have been contributed to Buyer by Xxxxxx the Parent as a capital contribution). The obligation of Buyer to pay the Purchase Price for Receivables that has been deferred pursuant to the preceding paragraph shall be evidenced by Buyer Notes. Each Seller agrees that, prior to the Seller Maturity Date, Buyer shall be required to make payments in respect of the payment obligations evidenced by the Buyer Notes only to the extent that it has cash available under SECTION Section 3.3.