Reduction of the Purchase Limit; Repurchase. (a) The Seller may, upon at least five Business Days' notice to the Deal Agent, terminate in whole or reduce in part the portion of the Purchase Limit that exceeds the sum of the aggregate Capital and Yield accrued and to accrue thereon, and the Commitments of the Investors shall be reduced proportionately; provided, however, that each partial reduction of the Purchase Limit shall be in an aggregate amount equal to $1,000,000 or an integral multiple thereof. Each notice of reduction or termination pursuant to this Section 2.3(a) shall be irrevocable.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Fidelity Leasing Inc), Receivables Purchase Agreement (Resource America Inc)
Reduction of the Purchase Limit; Repurchase. (a) The Seller may, upon at least five (5) Business Days' notice to the Deal Agent, terminate in whole or reduce in part the portion of the Purchase Limit that exceeds the sum of the aggregate Capital and Yield accrued and to accrue thereon, and the Commitments of the Investors shall be reduced proportionately; provided, however, that each partial reduction of the Purchase Limit shall be in an aggregate amount equal to $1,000,000 or an integral multiple thereof. Each notice of reduction or termination pursuant to this Section 2.3(a) 2.3 shall be irrevocable.
Appears in 1 contract
Samples: Receivables Purchase Agreement (American Business Financial Services Inc /De/)
Reduction of the Purchase Limit; Repurchase. (a) The Seller may, upon at least five Business Days' notice to the Deal Agent, terminate in whole or reduce in part the portion of the Purchase Limit that exceeds the sum of the aggregate Capital and Yield accrued and to accrue thereon, and the Commitments of the Investors shall be reduced proportionately; provided, however, that each partial reduction of the Purchase -------- ------- Limit shall be in an aggregate amount equal to $1,000,000 or an integral multiple thereof. Each notice of reduction or termination pursuant to this Section 2.3(a) shall be irrevocable.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Bankvest Capital Corp)
Reduction of the Purchase Limit; Repurchase. (a) The Seller may, upon at least five Business Days' notice to the Deal AgentAdministrator, terminate in whole or reduce in part the portion of Purchase Limit to the extent that the Purchase Limit that exceeds the sum of the aggregate Capital and Yield accrued and to accrue thereon, and the Commitments of the Investors shall be reduced proportionately; provided, however, that each partial reduction of the Purchase Limit shall be in an aggregate amount equal to $1,000,000 or an integral multiple thereof. Each notice of reduction or termination pursuant to this Section 2.3(a) shall be irrevocable.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Fidelity Leasing Inc)
Reduction of the Purchase Limit; Repurchase. (a) The Seller may, upon at least five Business Days' notice to the Deal Agent, terminate in whole or reduce in part the portion of the Purchase Limit that exceeds the sum of the aggregate Capital and Yield accrued and to accrue thereon, and the Commitments of the Investors shall be reduced proportionately; provided, however, that each partial reduction of the Purchase Limit shall be in an aggregate amount equal to $1,000,000 or an integral multiple thereof. Each notice of reduction or termination pursuant to this Section 2.3(a) shall be irrevocable.multiple
Appears in 1 contract
Samples: Receivables Purchase Agreement (Fidelity Leasing Inc)