Common use of Residual Purchase Price Clause in Contracts

Residual Purchase Price. Provided that there does not then exist an Event of Default or any event or condition that, with notice, lapse of time or otherwise, would constitute an Event of Default, Buyer shall pay to Seller by wire transfer on the Residual Payment Date, the amount, if any, which Buyer owes to Seller on such Residual Payment Date, according to the accounting prepared by Buyer as of such Residual Calculation Date (the “Residual Purchase Price”). For each individual Purchased Receivable, the Residual Purchase Price shall be an amount equal to: (A) the total amount of Collections related to such Purchased Receivable as of the Residual Calculation Date; minus (B) the sum of (i) the Initial Purchase Price paid for such Purchased Receivable, plus (ii) the Discount Factor owed with respect to such Purchased Receivable, plus (iii) the total as of the Residual Calculation Date of (a) any and all accrued and unpaid Program Access Fees multiplied by a fraction, the numerator of which is equal to the total amount of Collections collected in such applicable Accrual Period and the denominator of which is the average daily Account Balance during such applicable Accrual Period, (b) Deemed Collections related to such Purchased Receivable, and (c) any other amounts due, including professional fees and expenses, as set forth in Section 10.2 hereof for which oral or written demand has been made by Buyer to Seller as of the Residual Calculation Date to the extent Buyer has agreed to accept payment thereof by deduction from the Residual Purchase Price.

Residual Purchase Price. Provided that there does not then exist an Event of Default or any event or condition that, with notice, lapse of time or otherwise, would constitute an Event of Default, Buyer shall pay to Seller by wire transfer on the Residual Payment Date, the amount, if any, which Buyer owes to Seller on such Residual Payment Date, according to the accounting prepared by Buyer as of such Residual Calculation Date (the “"Residual Purchase Price”"). For each individual Purchased Receivable, the Residual Purchase Price shall be an amount equal to: (A) the total amount of Collections related to such Purchased Receivable as of the Residual Calculation Date; minus (B) the sum of (i) the Initial Purchase Price paid for such Purchased Receivable, plus (ii) the Discount Factor owed with respect to such Purchased Receivable, plus (iii) the total as of the Residual Calculation Date of (a) any and all accrued and unpaid Program Access Fees multiplied by a fraction, the numerator of which is equal to the total amount of Collections collected in such applicable Accrual Period and the denominator of which is the average daily Account Balance during such applicable Accrual Period, (b) Deemed Collections related to such Purchased Receivable, and (c) any other amounts due, including professional fees and expenses, as set forth in Section 10.2 hereof for which oral or written demand has been made by Buyer to Seller as of the Residual Calculation Date to the extent Buyer has agreed to accept payment thereof by deduction from the Residual Purchase Price.

Residual Purchase Price. Provided that there does not then exist an Event of Default or any event or condition that, with notice, lapse of time or otherwise, would constitute an Event of Default, Buyer shall pay to Seller by wire transfer on the Residual Payment Date, the amount, if any, which Buyer owes to Seller on such Residual Payment Date, according to the accounting prepared by Buyer as of such Residual Calculation Date (the “Residual Purchase Price”). For each individual Purchased Receivable, the Residual Purchase Price shall be an amount equal to: (A) the total amount of Collections related to such Purchased Receivable as of the Residual Calculation Date; minus (B) the sum of (i) the Initial Purchase Price paid for such Purchased Receivable, plus (ii) the Discount Factor owed with respect to such Purchased Receivable, plus (iii) the total as of the Residual Calculation Date of (a) any and all accrued and unpaid Program Access Fees multiplied by a fraction, the numerator of which is equal to the total amount of Collections collected in such applicable Accrual Period and the denominator of which is the average daily Account Balance during such applicable Accrual Period, (b) Deemed Collections related to such Purchased Receivable, and (c) any other amounts due, including professional fees and expenses, as set forth in Section 10.2 hereof for which oral or written demand has been made by Buyer to Seller as of the Residual Calculation Date to the extent Buyer has agreed to accept payment thereof by deduction from the Residual Purchase Price.