Purchases of Purchased Assets. On the terms and conditions hereinafter set forth, the Purchaser shall purchase Purchased Assets from the seller from time to time during the period from the date hereof until the Termination Date. Under no circumstances shall the Purchaser make the initial Purchase or any Subsequent Purchase if, after giving effect to such Purchase, either (a) the Overcollateralization Percentage would be less than Required Overcollateralization Percentage or (b) the aggregate Capital outstanding hereunder would exceed the lesser of (i) the Purchase Limit minus the Discount Amount or (ii) the Capital Limit as determined by reference to the most recent Monthly Settlement Report or Purchase Date/Spread Account Surplus Settlement Report delivered by the Servicer to the Purchaser in accordance with Section 6.07 hereof.
Purchases of Purchased Assets. Although the Purchaser may from time to time purchase or receive a capital contribution of Advances, the Seller shall remain obligated (i) to perform, or cause to be performed, all of the obligations of the originator under the related Loan Documents (and the exercise by the Purchaser of any of its rights thereunder or hereunder shall not relieve the Seller of such obligations) and (ii) to pay or cause to be paid, when due any taxes, including without limitation, sales, excise and personal property taxes payable in connection with the Advances, unless the payment of such taxes in being contested in good faith and by appropriate proceedings; provided, that, the Purchaser shall have the right to exercise any of the rights of the Seller under any such Advance.
Purchases of Purchased Assets. (a) Each of the Originators does hereby sell, assign, transfer, set-over and otherwise convey to the Buyer, without recourse (except to the extent expressly provided herein), and the Buyer does hereby purchase from such Originator, all of such Originator's right, title and interest in and to all of such Originator's Purchased Assets existing as of the date of the initial Purchase hereunder and all of such Originator's Purchased Assets thereafter arising.
Purchases of Purchased Assets. (a) WFLLC does hereby sell, assign, transfer, setover and otherwise convey to the Buyer, without recourse (except to the extent expressly provided herein), and the Buyer does hereby purchase from WFLLC, all of WFLLC's right, title and interest in and to all of WFLLC's Purchased Assets existing as of the date of the initial Purchase hereunder and all of WFLLC's Purchased Assets thereafter acquired from the Originators' or either of them.
