Selection and Continuation of Tranche Periods. (a) With consultation from and adequate prior notice to each related Managing Agent, the Seller shall from time to time request Tranche Periods for the Purchaser Interests funded, directly or indirectly, by the Financial Institutions, provided that, (i) if at any time the Financial Institutions shall have a Purchaser Interest, the Seller shall always request Tranche Periods such that at least one Tranche Period shall end on the date specified in clause (A) of the definition of Yield Payment Date and (ii) no more than three (3) Tranche Periods shall be outstanding at any time.
Appears in 3 contracts
Samples: Securitization Property Servicing Agreement (Consumers Energy Co), Securitization Property Servicing Agreement (Consumers Energy Co), Receivables Purchase Agreement (CMS Energy Corp)
Selection and Continuation of Tranche Periods. (a) With consultation from (and adequate prior notice approval by) the Agent (such approval not to each related Managing Agentbe unreasonably withheld), the Seller shall from time to time request Tranche Periods for the Purchaser Interests funded, directly or indirectly, by of the Financial Institutions, provided that, (i) if at any time the Financial Institutions shall have a Purchaser Interest, the Seller shall always request Tranche Periods such that at least one Tranche Period shall end on the date specified in clause (A) of the definition of Yield Payment Settlement Date and (ii) no more than three (3) 3 Tranche Periods shall be outstanding at any time.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Lennox International Inc)
