Repurchases of Transferred Receivables. (i) If any Seller is required to repurchase Transferred Receivables from the Borrower pursuant to the Receivables Sale Agreement, upon payment by the applicable Seller to a Collection Account of the applicable repurchase price thereof (which repurchase price shall not be less than an amount equal to the Billed Amount of such Transferred Receivable minus the sum of Collections received in respect thereof), the Administrative Agent on behalf of the Secured Parties shall release the liens on and security interests in the Transferred Receivables being so repurchased.
Appears in 5 contracts
Samples: Credit and Security Agreement (Sungard Data Systems Inc), Credit and Security Agreement (Sungard Capital Corp Ii), Credit and Security Agreement (Sungard Capital Corp Ii)
Repurchases of Transferred Receivables. If (i) If any Seller Transferor is required to repurchase Transferred Receivables from the Borrower Seller pursuant to Section 4.05 of the Receivables Sale Transfer Agreement, upon payment by the applicable Seller such Transferor to a Collection Account of the applicable repurchase price thereof (which repurchase price shall not be less than an amount equal to the Billed Amount of such Transferred Receivable minus the sum of Collections received in respect thereof), the Administrative Purchaser Agent on behalf of itself and the Secured other Specified Parties shall release the liens on its lien, Purchaser Interests and security any other rights or interests in the Transferred Receivables being so repurchased.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Univision Holdings, Inc.), Receivables Purchase Agreement (Univision Communications Inc)
