Common use of Purchases by Windmill Clause in Contracts

Purchases by Windmill. If the Seller requests an increase in Windmill's Investment when any Committed Purchaser has any outstanding Investment, Windmill shall determine the amount, if any, by which it desires to increase its Investment (the "Desired Increase") and shall so notify the Agent. Such request may only be made at the end of a Tranche Period. If Windmill has a Desired Increase, the Agent shall deliver to the Committed Purchasers a notification of assignment in substantially the form of Exhibit C and, before purchasing any additional Investment from the Seller, Windmill shall purchase in full the Investment of the Committed Purchasers, at a purchase price equal to such Investment plus accrued and unpaid Discount thereon. If the Desired Increase is less than the sum of the total Investment of the Committed Purchasers and accrued Discount, Windmill shall purchase a ratable portion of each Liquidity Provider's Investment and only after all such Investment and accrued Discount thereon is purchased may Windmill purchase Investment of the Enhancer and Discount thereon. Any sale from any Committed Purchaser to Windmill pursuant to this Section 2.2 shall be without recourse, representation or warranty except for the representation and warranty that the Investment sold by such Purchaser is free and clear of any Adverse Claim created or granted by such Purchaser and that such Purchaser has not suffered a Bankruptcy Event.

Appears in 1 contract

Samples: Receivables Sale Agreement (Crompton & Knowles Corp)

AutoNDA by SimpleDocs

Purchases by Windmill. If the Seller requests an increase in Windmill's Investment when any Committed Purchaser has any outstanding Investment, Windmill shall determine the amount, if any, by which it desires to increase its Investment (the "Desired Increase") and shall so notify the Agent. Such request may only be made at the end of a Tranche Period. If Windmill has a Desired Increase, the Agent shall deliver to the Committed Purchasers a notification of assignment in substantially the form of Exhibit C and, before purchasing any additional Investment from the Seller, Windmill shall purchase in full the Investment of the Committed Purchasers, at a purchase price equal to such Investment plus accrued and unpaid Discount thereon. If the Desired Increase is less than the sum of the total Investment of the Committed Purchasers and accrued Discount, Windmill shall purchase a ratable portion of each Liquidity Provider's Investment and only after all such Investment and accrued Discount thereon is purchased may Windmill purchase Investment of the Enhancer and Discount thereon. As a condition to any such sale of Investment by Committed Purchasers to Windmill, the Seller must pay the Early Payment Fee if any then owed to such Committed Purchasers. Any sale from any Committed Purchaser to Windmill pursuant to this Section 2.2 shall be without recourse, representation or warranty except for the representation and warranty that the Investment sold by such Purchaser is free and clear of any Adverse Claim created or granted by such Purchaser and that such Purchaser has not suffered a any Bankruptcy Event.

Appears in 1 contract

Samples: Receivables Sale Agreement (World Color Press Inc /De/)

Purchases by Windmill. If the Seller requests an increase in Windmill's ’s Investment when any Windmill Committed Purchaser has any outstanding Investment, Windmill shall determine the amount, if any, by which it desires to increase its Investment (the "Desired Increase") and shall so notify the Windmill Purchaser Agent. Such request may only be made at the end of a Tranche Period. If Windmill has a Desired Increase, the Windmill Purchaser Agent shall deliver to the Windmill Committed Purchasers a notification of assignment in substantially the form of Exhibit C and, before purchasing any additional Investment from the Seller, Windmill shall purchase in full the Investment of the Windmill Committed Purchasers, at a purchase price equal to such Investment plus accrued and unpaid Discount thereon. If the Desired Increase is less than the sum As a condition to any such sale of the total Investment of the by Windmill Committed Purchasers and accrued Discountto Windmill, the Seller must pay the Early Payment Fee then owed to such Windmill shall purchase a ratable portion of each Liquidity Provider's Investment and only after all such Investment and accrued Discount thereon is purchased may Windmill purchase Investment of the Enhancer and Discount thereonCommitted Purchasers. Any sale from any Windmill Committed Purchaser to Windmill pursuant to this Section 2.2 shall be without recourse, representation or warranty except for the representation and warranty that the Investment sold by such Windmill Committed Purchaser is free and clear of any Adverse Claim created or granted by such Windmill Committed Purchaser and that such Windmill Committed Purchaser has not suffered a Bankruptcy Event.

Appears in 1 contract

Samples: Receivables Sale Agreement (Usf Corp)

AutoNDA by SimpleDocs

Purchases by Windmill. If the Seller requests an increase in Windmill's Investment when any Committed Purchaser has any outstanding Investment, Windmill shall determine the amount, if any, by which it desires to increase its Investment (the "Desired Increase") and shall so notify the Agent. Such request may only be made at the end of a Tranche Period. If Windmill has a Desired IncreaseIncrease and the Seller requests Windmill to first acquire the Investments held by the Committed Purchasers, the Agent shall deliver to the Committed Purchasers a notification of assignment in substantially the form of Exhibit C and, before purchasing any additional Investment from the Seller, Windmill shall purchase in full the Investment of the Committed Purchasers, at a purchase price equal to such Investment plus accrued and unpaid Discount thereon. If the Desired Increase is less than the sum of the total Investment of the Committed Purchasers and accrued Discount, Windmill shall purchase a ratable portion of each Liquidity Provider's Investment and only after all such Investment and accrued Discount thereon is purchased may Windmill purchase Investment of the Enhancer and Discount thereon. As a condition to any such sale of Investment by Committed Purchasers to Windmill, the Seller must pay the Early Payment Fee then owed to such Committed Purchasers. Any sale from any Committed Purchaser to Windmill pursuant to this Section 2.2 shall be without recourse, representation or warranty except for the representation and warranty that the Investment sold by such Purchaser is free and clear of any Adverse Claim created or granted by such Purchaser and that such Purchaser has not suffered a any Bankruptcy Event.

Appears in 1 contract

Samples: Receivables Sale Agreement (Ipalco Enterprises Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.