Required Lump Sales Sample Clauses

Required Lump Sales. If, during any period of thirty consecutive days, the Seller’s Allocated Amount is less than the Required Seller’s Allocated Amount averaged over that period or the average amount of Principal Receivables for that period is less than the Required Principal Balance averaged over that period, the Seller shall, on or prior to the close of business on the tenth Business Day following the last Business Day of such 30-day period (the “Required Designation Date”), unless the Seller’s Allocated Amount exceeds the Required Seller’s Allocated Amount and the aggregate amount of Principal Receivables is greater than the Required Principal Balance, in each case, as of the close of business on any five consecutive Business Days after the last Business Day of such 30 day period and prior to the Required Designation Date, designate Additional Accounts to be included as Accounts in a sufficient amount such that (A) the average of the Seller’s Allocated Amount for such 30-day period, computed by assuming that the amount of the Principal Receivables of such Additional Accounts shall be deemed to be outstanding with the Trust during each day of such 30-day period, is at least equal to the Required Seller’s Allocated Amount and (B) the average amount of Principal Receivables for such 30- day period, computed by assuming that the amount of the Principal Receivables of such Additional Accounts shall be deemed to be outstanding with the Trust during each day of such 30-day period, is at least equal to the Required Principal Balance averaged over that period. The failure of any condition set forth in subsection 2.9(d) shall not relieve the Seller of its obligation pursuant to this subsection 2.9(a); provided, however, that the failure of the Seller to transfer Receivables to the Trust as provided in this subsection 2.9(a) solely as a result of the unavailability of a sufficient amount of Eligible Receivables shall not constitute a breach of this Agreement; provided further that any such failure that is not cured in accordance with the applicable Supplement will nevertheless result in the occurrence of a Series Amortization Event for each Series that specifies in the related Supplement that such failure shall constitute a Series Amortization Event. In lieu of, or in addition to, designating additional Eligible Accounts pursuant to the foregoing provisions of this subsection 2.9(a), the Seller may, subject to the conditions specified in subsection 2.9(d) and subject to the satisfact...
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Related to Required Lump Sales

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  • In the Event of Forecasted Surpluses If the HSP is forecasting a surplus, the LHIN may adjust the amount of Funding to be paid under Schedule B, require the repayment of excess Funding and/or adjust the amount of any future funding installments accordingly.

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