Securitization and Purchase Commitment Based Upon Volume Sample Clauses
The 'Securitization and Purchase Commitment Based Upon Volume' clause establishes that a party commits to purchasing a specified quantity of goods or services, and that this commitment may be used as collateral or backing for financial transactions such as securitization. In practice, this means the buyer agrees to buy a minimum volume over a set period, and the seller can use this guaranteed revenue stream to secure financing or sell interests in the receivables to third parties. This clause ensures predictable sales volumes for the seller and facilitates access to capital by leveraging the purchase commitment as a financial asset.
Securitization and Purchase Commitment Based Upon Volume. In the event that the Total Principal Amount held by Program Lender is:
(1) Less than [**] Dollars ($[**]), FMC will [**] purchase or cause the purchase of the Seasoned Loans in a Securitization Transaction, but will have no obligation to do so if FMC is unable to do so [**].
(2) Greater than [**] Dollars ($[**]) but less than [**] Dollars ($[**]), FMC shall purchase or cause the purchase of all Seasoned Loans; provided, however, that such obligation shall be effective only if lenders whose loans aggregate [**] Dollars ($[**]) or more in principal amount agree to have their loans included in the same Securitization Transaction (FMC shall [**] under this Section 2.02(c)(2) to cause lenders to permit the addition of Seasoned Loans in a Securitization Transaction).
(3) Greater than [**] Dollars ($[**]), FMC shall purchase or cause the purchase of all Seasoned Loans in a Securitization Transaction.
Securitization and Purchase Commitment Based Upon Volume. FMC's obligation to schedule a Purchase Date is subject to the following additional conditions and limitations. In the event that the Total Principal Amount of Seasoned Loans held by Program Lender is:
(1) Less than [**] Dollars ($[**]), FMC shall [**] purchase or cause the purchase, or [**] to purchase or cause the purchase, of any Seasoned Loans in a Securitization Transaction;
(2) Greater than [**] dollars ($[**]) but less than [**] dollars ($[**]), FMC will [**] to purchase or cause the purchase of all Seasoned Loans in a Securitization Transaction, but will have no obligation to do so if FMC is unable to do so [**];
(3) Greater than [**] Dollars ($[**]) but less than [**] Dollars ($[**]), FMC shall purchase or cause the purchase of all Seasoned Loans; provided, however, that such obligation shall be effective only if lenders (including the Program Lender) whose loans aggregate [**] Dollars ($[**]) or more in principal amount agree to have their loans included in the same Securitization Transaction (FMC shall [**] under this Section 2.02(c)(2) to cause lenders to permit the addition of Seasoned Loans in a Securitization Transaction) and execute a Co-Lender Indemnification Agreement, substantially in the form attached to this Agreement as Exhibit B;
(4) Greater than [**] Dollars ($[**]), FMC shall purchase or cause the purchase of all Seasoned Loans in a Securitization Transaction. In the event that the Purchase Period with respect to a particular Seasoned Loan expires at a time when FMC is excuse from scheduling a Purchase Date for any reason set forth above, FMC shall have no obligation to pay damages under section 2.02 (d) hereof nor otherwise be in breach of this Agreement for failure to purchase such loan. The Right of First Refusal period with respect to such loan shall continue to apply, however, as if such excuse had not existed (i.e., FMC shall have the rights provided in Subsections 2.02 (b) and 2.02(d) with respect to such loan to exercise the Right of First Refusal).
Securitization and Purchase Commitment Based Upon Volume. In the event that the Total Principal Amount of Seasoned Loans held by Program Lender, together with the Total Principal Amount of Astrive loans held by Charter One Bank, N.A. which qualify as Seasoned Loans under the applicable Note Purchase Agreement between FMC and Charter One Bank, N.A. is:
(1) Less than Five Million Dollars ($5,000,000), FMC will use reasonable efforts to purchase or cause the purchase of all Seasoned Loans in a Securitization Transaction. FMC shall bear no liability if such reasonable efforts fail to purchase or cause the purchase of all Seasoned Loans.
(2) Greater than Five Million Dollars ($5,000,000) but less than Twenty-Five Million Dollars ($25,000,000), FMC will use its best efforts to purchase or cause the purchase of all Seasoned Loans in a Securitization Transaction, but will have no obligation to do so if FMC is unable to do so after the use of best efforts.
(3) Greater than Twenty-Five Million Dollars ($25,000,000) but less than Seventy-Five Million Dollars ($75,000,000), FMC shall purchase or cause the purchase of all Seasoned Loans within the Purchase Period; provided, however, that such obligation shall be effective only if lenders whose loans aggregate Seventy-Five Million Dollars ($75,000,000) or more in principal amount agree to have their loans included in the same Securitization Transaction (FMC shall use reasonable efforts under this Section 2.02(c)(2) to cause lenders to permit the addition of Seasoned Loans in a Securitization Transaction).
(4) Greater than Seventy-Five Million Dollars ($75,000,000), FMC shall purchase or cause the purchase of all Seasoned Loans within the Purchase Period in a Securitization Transaction.
Securitization and Purchase Commitment Based Upon Volume. In the event that the Total Principal Amount held by Program Lender is: (1) Less than [**] Dollars ($[**]), FMC will [**] purchase or cause the purchase of the Seasoned Loans in a Securitization Transaction, but will have no obligation to do so if FMC is unable to do so [**].
Securitization and Purchase Commitment Based Upon Volume. In the event that the Total Principal Amount of Seasoned Loans held by Program Lender is:
(1) Less than _____________ Dollars ($____________), FMC will use reasonable efforts to purchase or cause the purchase of all Seasoned Loans in a Securitization
Securitization and Purchase Commitment Based Upon Volume. In the event that the Total Principal Amount of Seasoned Loans held by Program Lender, together with the Total Principal Amount of Astrive loans held by Charter One Bank, N.A. which qualify as Seasoned Loans under the applicable Note Purchase Agreement between FMC and Charter One Bank, N.A. is: (1) Less than Five Million Dollars ($5,000,000), FMC will use reasonable efforts to purchase or cause the purchase of all Seasoned Loans in a Securitization Transaction. FMC shall bear no liability if such reasonable efforts fail to purchase or cause the purchase of all Seasoned Loans.