Common use of Selection of Purchase Periods Clause in Contracts

Selection of Purchase Periods. At all times hereafter until the Termination Date, the Seller shall, subject to the Deal Agent's and the Purchaser's approval and the limitations described below, select (a) Purchase Periods and allocate a portion of the outstanding Capital to each selected Purchase Period, so that the outstanding Capital is at all times allocated to a Purchase Period and (b) Yield Rates to apply to such Capital for such Purchase Periods. The initial Purchase Period(s) and Yield Rate(s) applicable to the Capital arising as a result of the Purchase shall be specified in the notice relating to the Purchase described in SECTION 2.02(b). Each subsequent Purchase Period shall commence on the last day of the immediately preceding Purchase Period, and the duration of and Yield Rate applicable to such subsequent Purchase Period shall be such as the Seller shall select and the Deal Agent shall approve on notice from the Seller received by the Deal Agent (including notice by telephone, confirmed in writing) not later than 11:00 A.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, EXCEPT that (a) if the Deal Agent shall not have received such notice before 11:00 A.M. (Boston, Massachusetts time) or the Deal Agent and the Seller shall not have so mutually agreed before 12:30 P.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, such Purchase Period shall be one day and the applicable Yield Rate shall be the Adjusted Base Rate and (b) if the Deal Agent notifies the Seller that the Yield shall accrue for each Purchase Period at the Alternative Rate, and the Seller notifies the Deal Agent that it selects the Adjusted Eurodollar Rate (as opposed to the Adjusted Base Rate) for such Purchase Period, such notice must be received by the Deal Agent no later than 11:00 A.M. (Boston, Massachusetts time) on the third Business Day prior to such last day. Any Purchase Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day; PROVIDED, HOWEVER, that if Yield in respect of such Purchase Period is computed by reference to the Adjusted Eurodollar Rate, and such next succeeding Business Day is in the next calendar month, then such Purchase Period shall end on the next preceding Business Day. In addition, whenever any Purchase Period as to which Yield accrues at the Adjusted Eurodollar Rate commences on the last Business Day in a month or on a day for which there is no numerically corresponding day in the month in which such Purchase Period ends, the last day of such Purchase Period shall occur on the last Business Day of the month in which such Purchase Period ends. Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Seller, terminate any Purchase Period then in effect if the Purchaser has funded the Capital allocated to such Purchase Period by issuing its commercial paper notes. Any Purchase Period which commences before the Termination Date and would otherwise end on a date occurring after the Termination Date shall end on the Termination Date. On or after the Termination Date, the Deal Agent shall have the right to allocate outstanding Capital to Purchase Periods of such duration as shall be selected by the Deal Agent. The Purchaser shall, on the first day of each Purchase Period, notify the Deal Agent of the Yield Rate for the Capital allocated to such Purchase Period.

Selection of Purchase Periods. At all times hereafter until the Termination Date, the Seller shall, subject to the Deal Agent's and the Purchaser's approval and the limitations described below, select (a) Purchase Periods and allocate a portion of the outstanding Capital to each selected Purchase Period, so that the outstanding Capital is at all times allocated to a Purchase Period and (b) Yield Rates to apply to such Capital for such Purchase Periods. The initial Purchase Period(s) and Yield Rate(s) applicable to the Capital arising as a result of the initial Purchase or any Capital Increase shall be specified in the notice relating to the Purchase or Capital Increase described in SECTION Section 2.02(b). Each subsequent Purchase Period shall commence on the last day of the immediately preceding Purchase Period, and the duration of and Yield Rate applicable to such subsequent Purchase Period shall be such as the Seller shall select and the Deal Agent shall approve on notice from the Seller received by the Deal Agent (including notice by telephone, confirmed in writing) not later than 11:00 A.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, EXCEPT except that (a) if the Deal Agent shall not have received such notice before 11:00 A.M. (Boston, Massachusetts time) or the Deal Agent and the Seller shall not have so mutually agreed before 12:30 P.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, such Purchase Period shall be one day and the applicable Yield Rate shall be the Adjusted Base Rate and (b) if the Deal Agent notifies the Seller that the Yield shall accrue for each Purchase Period at the Alternative Rate, and the Seller notifies the Deal Agent that it selects the Adjusted Eurodollar Rate (as opposed to the Adjusted Base Rate) for such Purchase Period, such notice must be received by the Deal Agent no later than 11:00 A.M. (Boston, Massachusetts time) on the third Business Day prior to such last day. Any Purchase Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day; PROVIDEDprovided, HOWEVERhowever, that if Yield in respect of such Purchase Period is computed by reference to the Adjusted Eurodollar Rate, and such next succeeding Business Day is in the next calendar month, then such Purchase Period shall end on the next preceding Business Day. In addition, whenever any Purchase Period as to which Yield accrues at the Adjusted Eurodollar Rate commences on the last Business Day in a month or on a day for which there is no numerically corresponding day in the month in which such Purchase Period ends, the last day of such Purchase Period shall occur on the last Business Day of the month in which such Purchase Period ends. Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Seller, terminate any Purchase Period then in effect if the Purchaser has funded the Capital allocated to such Purchase Period by issuing its commercial paper notes. Any Purchase Period which commences before the Termination Date and would otherwise end on a date occurring after the Termination Date shall end on the Termination Date. On or after the Termination Date, the Deal Agent shall have the right to allocate outstanding Capital to Purchase Periods of such duration as shall be selected by the Deal Agent. The Purchaser shall, on the first day of each Purchase Period, notify the Deal Agent of the Yield Rate for the Capital allocated to such Purchase Period.

Selection of Purchase Periods. At all times hereafter until the Termination Date, the Seller shall, subject to the Deal Agent's and the Purchaser's approval and the limitations described below, select (a) Purchase Periods and allocate a portion of the outstanding Capital to each selected Purchase Period, so that the outstanding Capital is at all times allocated to a Purchase Period and (b) Yield Rates to apply to such Capital for such Purchase Periods. The initial Purchase Period(s) and Yield Rate(s) applicable to the Capital arising as a result of the initial Purchase hereunder or any later Capital Purchase shall be specified in the notice Purchase Request relating to the such Purchase described in SECTION 2.02(bSection 2.02(a). Each subsequent Purchase Period shall commence on the last day of the immediately preceding Purchase Period, and the duration of and Yield Rate applicable to such subsequent Purchase Period shall be such as the Seller shall select and the Deal Agent shall approve on after notice from the Seller received by the Deal Agent (including notice by telephone, confirmed in writing) not later than 11:00 10:00 A.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, EXCEPT except that (a) if the Deal Agent Seller shall not have received such notice so selected before 11:00 10:00 A.M. (Boston, Massachusetts time) or the Deal Agent and the Seller shall not have so mutually agreed before 12:30 P.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, such Purchase Period shall be one day and the applicable Yield Rate shall be the Adjusted Base Rate and (b) if the Deal Agent notifies the Seller is requesting that the Yield shall accrue for each Purchase Period at the Alternative Rate, and the Seller notifies the Deal Agent that it selects the Adjusted Eurodollar Rate (as opposed to the Adjusted Base Rate) for such Purchase Period, such notice must be received by and the Deal Agent no later than 11:00 Seller shall not have so selected before 10:00 A.M. (Boston, Massachusetts time) on the third second Business Day prior to such last day, such Purchase Period shall be one day and the applicable Yield Rate shall be the Adjusted Base Rate. Any Purchase Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day; PROVIDEDprovided, HOWEVERhowever, that if Yield in respect of such Purchase Period is computed by reference to the Adjusted Eurodollar Rate, and such next succeeding Business Day is in the next calendar month, then such Purchase Period shall end on the next preceding Business Day. In addition, whenever any Purchase Period as to which Yield accrues at the Adjusted Eurodollar Rate commences on the last Business Day in a month or on a day for which there is no numerically corresponding day in the month in which such Purchase Period ends, the last day of such Purchase Period shall occur on the last Business Day of the month in which such Purchase Period ends. Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Seller, terminate any Purchase Period then in effect if the Purchaser has funded the Capital allocated to such Purchase Period by issuing its commercial paper notes. Any Purchase Period which commences before the Termination Date and would otherwise end on a date occurring after the Termination Date shall end on the Termination Date. On or after the Termination Date, the Deal Agent shall have the right to allocate outstanding Capital to Purchase Periods of such duration as shall be selected by the Deal Agent. The Purchaser shall, on the first day of each Purchase Period, notify the Deal Agent of the Yield Rate for the Capital allocated to such Purchase Period.

Selection of Purchase Periods. At all times hereafter ----------------------------- until the Termination Date, the Seller shall, subject to the Deal Agent's and the Purchaser's Purchasers' approval and the limitations described below, select (a) Purchase Periods and allocate a portion of the outstanding Capital to each selected Purchase Period, so that the outstanding Capital is at all times allocated to a Purchase Period and (b) Yield Rates to apply to such Capital for such Purchase Periods. The initial Purchase Period(s) and Yield Rate(s) applicable to the Capital arising as a result of the initial Purchase hereunder or any later Capital Purchase shall be specified in the notice Purchase Request relating to the such Purchase described in SECTION 2.02(bSection 2.02(a). Each subsequent --------------- Purchase Period shall commence on the last day of the immediately preceding Purchase Period, and the duration of and Yield Rate applicable to such subsequent Purchase Period shall be such as the Seller shall select and the Deal Agent shall approve on notice from the Seller received by the Deal Agent (including notice by telephone, confirmed in writing) not later than 11:00 10:00 A.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, EXCEPT except that (a) if the Deal Agent shall not have received such notice before 11:00 A.M. (Boston, Massachusetts time) or the Deal Agent ------ and the Seller shall not have so mutually agreed before 12:30 P.M. 10:00 A.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, such Purchase Period shall be one day and the applicable Yield Rate shall be the Adjusted Base Rate and (b) if the Deal Agent notifies the Seller is requesting that the Yield shall accrue for each Purchase Period at the Alternative Rate, and the Seller notifies the Deal Agent that it selects the Adjusted Eurodollar Rate (as opposed to the Adjusted Base Rate) for such Purchase Period, such notice must be received by and the Deal Agent no later than 11:00 and the Seller shall not have so mutually agreed before 10:00 A.M. (Boston, Massachusetts time) on the third second Business Day prior to such last day, such Purchase Period shall be one day and the applicable Yield Rate shall be the Adjusted Base Rate. Any Purchase Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day; PROVIDEDprovided, HOWEVERhowever, that if Yield in respect of such -------- ------- Purchase Period is computed by reference to the Adjusted Eurodollar Rate, and such next succeeding Business Day is in the next calendar month, then such Purchase Period shall end on the next preceding Business Day. In addition, whenever any Purchase Period as to which Yield accrues at the Adjusted Eurodollar Rate commences on the last Business Day in a month or on a day for which there is no numerically corresponding day in the month in which such Purchase Period ends, the last day of such Purchase Period shall occur on the last Business Day of the month in which such Purchase Period ends. Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Seller, terminate any Purchase Period then in effect if the Purchaser has funded the Capital allocated to such Purchase Period by issuing its commercial paper notes. Any Purchase Period which commences before the Termination Date and would otherwise end on a date occurring after the Termination Date shall end on the Termination Date. On or after the Termination Date, the Deal Agent shall have the right to allocate outstanding Capital to Purchase Periods of such duration as shall be selected by the Deal Agent. The Purchaser shall, on the first day of each Purchase Period, notify the Deal Agent of the Yield Rate for the Capital allocated to such Purchase Period.

Selection of Purchase Periods. At all times hereafter until the Termination DatePromptly upon receiving each Sale Notice, the Seller Deal Agent shall, subject following its review of the Seller's request set forth therein with respect to the Deal Agent's and the Purchaser's approval and the limitations described belowinitial Purchase Period(s) for Capital to be funded in connection with such Sale Notice, select (a) Purchase Periods and allocate a portion of the for all increases in outstanding Capital to each selected Purchase Period, so that the all outstanding Capital is at all times allocated to a Purchase Period and (b) Yield Rates to apply to such Capital for it being understood that if the Seller does not propose a specific Purchase Period, the Deal Agent shall select such Purchase PeriodsPeriod in its discretion). The initial Purchase Period(s) and Yield Rate(s) applicable to the Period for any Capital arising as a result of the Purchase shall be specified in the notice relating to the Purchase Sale Notice described in SECTION 2.02(b)subsection (a) hereof. Each subsequent Purchase Period shall commence on At least one Business Day prior to the last day of the immediately preceding each Purchase Period for any Capital allocated to such Purchase Period, and the duration of and Yield Rate applicable to such subsequent Purchase Period shall be such as the Seller shall select and request new Purchase Periods for such Capital; provided that, in the Deal Agent case of any Purchase Period for Capital for which Yield is to be determined by reference to the Eurodollar Rate, such request shall approve on notice from the Seller received by the Deal Agent (including notice by telephone, confirmed in writing) be given not later than 11:00 10:00 A.M. (Boston, Massachusetts time) at least three (3) Business Days prior to the last day of the relevant preceding Purchase Period. The Deal Agent shall, on the Business Day next preceding date of any Receivables Purchase hereunder and, so long as any Capital related to such last dayReceivables Purchase is outstanding, EXCEPT that (a) if on the Deal Agent shall not have received first day of each successive Purchase Period for such notice before 11:00 A.M. (BostonCapital, Massachusetts time) or notify the Deal Agent Seller of the duration of the relevant Purchase Period and the Seller shall not have so mutually agreed before 12:30 P.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, such Purchase Period shall Yield which will be one day and the applicable Yield Rate shall be the Adjusted Base Rate and (b) if the Deal Agent notifies the Seller that the Yield shall accrue for each Purchase Period at the Alternative Rate, and the Seller notifies the Deal Agent that it selects the Adjusted Eurodollar Rate (as opposed to the Adjusted Base Rate) for Capital during such Purchase Period, such notice must be received by the Deal Agent no later than 11:00 A.M. (Boston, Massachusetts time) on the third Business Day prior to such last day. Any Purchase Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day; PROVIDED, HOWEVER, that if Yield in respect of such Purchase Period is computed by reference to the Adjusted Eurodollar Rate, and such next succeeding Business Day is in the next calendar month, then such Purchase Period shall end on the next preceding Business Day. In addition, whenever any Purchase Period as to which Yield accrues at the Adjusted Eurodollar Rate commences on the last Business Day in a month or on a day for which there is no numerically corresponding day in the month in which such Purchase Period ends, the last day of such Purchase Period shall occur on the last Business Day of the month in which such Purchase Period ends. Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Seller, terminate any Purchase Period then in effect if the Purchaser has funded the Capital allocated to such Purchase Period by issuing its commercial paper notes. Any Purchase Period which commences before the Termination Date and would otherwise end on a date occurring after the Termination Date shall end on the Termination Date. On Date and the duration of any Purchase Period that commences on or after the Termination Date, the Deal Agent Date shall have the right to allocate outstanding Capital to Purchase Periods be of such duration as shall be selected by the Deal AgentAgent in its discretion. The Purchaser shallIn addition, on the first day of each Purchase Periodif a CP Disruption shall have occurred and be continuing, notify EagleFunding, or the Deal Agent of on its behalf, may, upon notice to the Yield Rate for Originator and the Seller, terminate any Purchase Period then in effect if EagleFunding has funded the Capital allocated to such Purchase PeriodPeriod by issuing Commercial Paper. All outstanding Capital shall be assigned a Purchase Period at all times, which Purchase Periods will be limited as set forth in the definition thereof.

Selection of Purchase Periods. At all times hereafter until the Termination Date, the Seller shall, subject to the Deal Agent's and the Purchaser's approval and the limitations described below, select (a) Purchase Periods and allocate a portion of the outstanding Capital to each selected Purchase Period, so that the outstanding Capital is at all times allocated to a Purchase Period and (b) Yield Rates to apply to such Capital for such Purchase Periods. The initial Purchase Period(s) and Yield Rate(s) applicable to the Capital arising as a result of the initial Purchase or any Capital Increase shall be specified in the notice relating to the Purchase or Capital Increase described in SECTION Section 2.02(b). Each subsequent Purchase Period shall commence on the last day of the immediately preceding Purchase Period, and the duration of and Yield Rate applicable to such subsequent Purchase Period shall be such as the Seller shall select and the Deal Agent shall approve on notice from the Seller received by the Deal Agent (including notice by telephone, confirmed in writing) not later than 11:00 A.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, EXCEPT except that (a) if the Deal Agent shall not have received such notice before 11:00 A.M. (Boston, Massachusetts time) or the Deal Agent and the Seller shall not have so mutually agreed before 12:30 P.M. (Boston, Massachusetts time) on the Business Day next preceding such last day, such Purchase Period shall be one day and the applicable Yield Rate shall be the Adjusted Base Rate and (b) if the Deal Agent notifies the Seller is requesting that the Yield shall accrue for each Purchase Period at the Alternative Rate, and the Seller notifies the Deal Agent that it selects the Adjusted Eurodollar Rate (as opposed to the Adjusted Base Rate) for such Purchase Period, such notice must be received by the Deal Agent no later than 11:00 A.M. (Boston, Massachusetts time) on the third Business Day prior to such last day. Any Purchase Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day; PROVIDEDprovided, HOWEVERhowever, that if Yield in respect of such Purchase Period is computed by reference to the Adjusted Eurodollar Rate, and such next succeeding Business Day is in the next calendar month, then such Purchase Period shall end on the next preceding Business Day. In addition, whenever any Purchase Period as to which Yield accrues at the Adjusted Eurodollar Rate commences on the last Business Day in a month or on a day for which there is no numerically corresponding day in the month in which such Purchase Period ends, the last day of such Purchase Period shall occur on the last Business Day of the month in which such Purchase Period ends. Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Seller, terminate any Purchase Period then in effect if the Purchaser has funded the Capital allocated to such Purchase Period by issuing its commercial paper notes. Any Purchase Period which commences before the Termination Date and would otherwise end on a date occurring after the Termination Date shall end on the Termination Date. On or after the Termination Date, the Deal Agent shall have the right to allocate outstanding Capital to Purchase Periods of such duration as shall be selected by the Deal Agent. The Purchaser shall, on the first day of each Purchase Period, notify the Deal Agent of the Yield Rate for the Capital allocated to such Purchase Period.