Common use of Settlement as to Specific Receivables and Dilution Clause in Contracts

Settlement as to Specific Receivables and Dilution. (a) If, (i) on the day of purchase of any Receivable from an Originator hereunder, any of the representations or warranties set forth in Subsections (p), (t) or (x) of Section 6.1 are not true with respect to such Receivable or (ii) as a result of any action or inaction (other than solely as a result of the failure to collect such Receivable due to a discharge in any Insolvency Proceeding or other credit-related reasons with respect to the relevant Obligor) of such Originator, on any subsequent day, any of such representations or warranties set forth in any of those Subsections is no longer true with respect to such Receivable, then the Purchase Price for such Receivable shall be reduced by an amount equal to the Outstanding Balance of such Receivable and shall be accounted to such Originator as provided in Subsection (c) below. If the Buyer thereafter receives payment on account of Collections due with respect to such Receivable, then the amount of such payment (not exceeding the amount of the Purchase Price adjustment made under the preceding sentence) shall constitute a Purchase Price adjustment for the benefit of such Originator and shall be paid by the Buyer in the manner provided in Section 4.2(a) as though applicable thereto.

Settlement as to Specific Receivables and Dilution. (a) If, (i) on the day of purchase of any Receivable from an Originator hereunder, any of the representations or warranties set forth in Subsections subsections (p), (t) or (x) of Section 6.1 are not true with respect to such Receivable or (ii) as a result of any action or inaction (other than solely as a result of the failure to collect such Receivable due to a discharge in any Insolvency Proceeding bankruptcy or similar insolvency proceeding or other credit-related reasons with respect to the relevant Obligor) of such Originator, on any subsequent day, any of such representations or warranties set forth in any of those Subsections subsections is no longer true with respect to such Receivable, then the Purchase Price for such Receivable shall be reduced by an amount equal to the Outstanding Balance of such Receivable and shall be accounted to such Originator as provided in Subsection subsection (c) below. If the Buyer thereafter receives payment on account of Collections due with respect to such Receivable, then the amount of such payment (not exceeding the amount of the Purchase Price adjustment made under the preceding sentence) shall constitute a Purchase Price adjustment for the benefit of such Originator and shall be paid by the Buyer in the manner provided in Section 4.2(a) as though applicable thereto.

Settlement as to Specific Receivables and Dilution. (a) If, If (i) on the day of purchase or contribution of any Receivable from an Originator the Transferor hereunder, any of the representations or warranties set forth in Subsections (p)Sections 5.10, (t) or (x) of Section 6.1 5.15 and 5.17 are not true with respect to such Receivable or (ii) as a result of any action or inaction (other than solely as a result of the failure to collect such Receivable due to a discharge in any Insolvency Proceeding bankruptcy or similar insolvency proceeding or other credit-credit related reasons with respect to the relevant Obligor) of such the Transferor or any Originator, on any subsequent day, any of such representations or warranties set forth in any of those Subsections Sections 5.10, 5.15 and 5.17 is no longer true with respect to such ReceivableReceivable on such subsequent date (without giving effect to any reference to the date of sale, creation, purchaser or contribution of such Receivable in such representation or warranty), then the Purchase Price for (or in the case of a Contributed Receivable the Outstanding Balance of such Receivable (the “Contributed Value”)), with respect to such Receivable shall be reduced by an amount equal to the Outstanding Balance of such Receivable and shall be accounted to such Originator the Transferor as provided in Subsection clause (c) below. If ; provided, that if the Buyer Company thereafter receives payment on account of Collections due with respect to such Receivable, then the amount of Company promptly shall deliver such payment (not exceeding funds to the amount of the Purchase Price adjustment made under the preceding sentence) shall constitute a Purchase Price adjustment for the benefit of such Originator and shall be paid by the Buyer in the manner provided in Section 4.2(a) as though applicable theretoTransferor.

Settlement as to Specific Receivables and Dilution. (a) If, (i) on the day of purchase of any Receivable from an Originator hereunder, any of the representations or warranties set forth in Subsections (p)Sections 5.9, (t) 5.19, 5.22 or (x) of Section 6.1 5.23 are not true with respect to such Receivable or (ii) as a result of any action or inaction (other than solely as a result of the failure to collect such Receivable due to a discharge in any Insolvency Proceeding bankruptcy or similar insolvency proceeding or other credit-credit related reasons with respect to the relevant Obligor) of such Originator, on any subsequent day, any of such representations or warranties set forth in any of those Subsections Sections 5.9, 5.19, 5.22 or 5.23 is no longer true with respect to such Receivable, then the Purchase Price for such Receivable shall be reduced by an amount equal to the Outstanding Balance of such Receivable (or, if such Receivable fails to meet the requirement of Section 5.22 because it is subject to a dispute, counterclaim or hold back defense, adverse claim, litigation or right of set-off or offset or netting arrangement, then the Purchase Price for such Receivable shall be reduced only to the extent described in clause (f) of the definition of "Eligible Receivables") and shall be accounted to such Originator as provided in Subsection clause (c) below. If ; provided, that if the Buyer thereafter receives payment on account of Collections due with respect to the Outstanding Balance of such Receivable, then the amount of such payment (not exceeding the amount of the Purchase Price adjustment made under the preceding sentence) shall constitute a Purchase Price adjustment for the benefit of such Originator and shall be paid by the Buyer in the manner provided in Section 4.2(a) as though applicable theretopromptly shall deliver such funds to such Originator.