Common use of Subsequent Receivables Purchase Price Clause in Contracts

Subsequent Receivables Purchase Price. In consideration for the Subsequent Receivables and the other property related thereto described in Section 2.1(b) to be sold, transferred, assigned and otherwise conveyed to the Purchaser on the related Subsequent Transfer Date, the Purchaser shall, on or prior to such Subsequent Transfer Date, pay to or upon the order of the Seller an amount (the related "Subsequent Receivables Purchase Price") equal to the aggregate Principal Balance of the Subsequent Receivables as of the related Subsequent Cutoff Date, plus any premium or minus any discount agreed upon by the Seller and the Purchaser. Any Subsequent Receivables Purchase Price shall be payable as follows: (i) cash in the amount released to the Purchaser from the Pre-Funding Account pursuant to Section 4.11(a) of the Sale and Servicing Agreement shall be paid to or upon the order of the Seller on the related Subsequent Transfer Date by federal wire transfer (same day funds) and the balance paid in cash as and when amounts are released to, or otherwise realized by, the Purchaser from the Reserve Account and the Negative Carry Account in accordance with the Sale and Servicing Agreement; or (ii) as otherwise agreed by the Seller and the Purchaser.

Appears in 3 contracts

Samples: Purchase Agreement (Mmca Auto Owner Trust 2002-1), Purchase Agreement (Mmca Auto Receivables Trust), Purchase Agreement (Mmca Auto Receivables Trust)

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Subsequent Receivables Purchase Price. In consideration for the Subsequent Receivables and the other property related thereto described in Section 2.1(b) to be sold, transferred, assigned and otherwise conveyed to the Purchaser on the related Subsequent Transfer Date, the Purchaser shall, on or prior to such Subsequent Transfer Date, pay to or upon the order of the Seller an amount (the related "Subsequent Receivables Purchase Price") equal to the aggregate Principal Balance of the Subsequent Receivables as of the related Subsequent Cutoff Date, plus any premium or minus any discount agreed upon by the Seller and the Purchaser. Any Subsequent Receivables Purchase Price shall be payable as follows: (i) cash in the amount released to the Purchaser from the Pre-Funding and Reinvestment Account pursuant to Section 4.11(a4.8(a) of the Sale and Servicing Agreement shall be paid to or upon the order of the Seller on the related Subsequent Transfer Date by federal wire transfer (same day funds) and the balance paid in cash as and when amounts are released to, or otherwise realized by, the Purchaser from the Reserve Account and the Negative Carry Account in accordance with the Sale and Servicing Agreement; or (ii) as otherwise agreed by the Seller and the Purchaser.

Appears in 2 contracts

Samples: Purchase Agreement (Mmca Auto Receivables Trust), Purchase Agreement (Mmca Auto Receivables Trust)

Subsequent Receivables Purchase Price. In consideration for the Subsequent Receivables and the other property related thereto described in Section 2.1(b) to be sold, transferred, assigned and otherwise conveyed to the Purchaser on the related Subsequent Transfer Date, the Purchaser shall, on or prior to such Subsequent Transfer Date, pay to or upon the order of the Seller an amount (the related "Subsequent Receivables Purchase Price") equal to the aggregate Principal Balance of the Subsequent Receivables as of the related Subsequent Cutoff Date, plus any premium or minus any discount agreed upon by the Seller and the Purchaser. Any Subsequent Receivables Purchase Price shall be payable as follows: (i) cash in the amount released to the Purchaser from the Pre-Pre- Funding Account pursuant to Section 4.11(a4.8(a) of the Sale and Servicing Agreement shall be paid to or upon the order of the Seller on the related Subsequent Transfer Date by federal wire transfer (same day funds) and the balance paid in cash as and when amounts are released to, or otherwise realized by, the Purchaser from the Reserve Account and the Negative Carry Account in accordance with the Sale and Servicing Agreement; or (ii) as otherwise agreed by the Seller and the Purchaser.

Appears in 2 contracts

Samples: Purchase Agreement (Mmca Auto Receivables Trust), Purchase Agreement (Mmca Auto Receivables Trust)

Subsequent Receivables Purchase Price. In consideration for the Subsequent Receivables and the other property related thereto described in Section 2.1(b) to be sold, transferred, assigned and otherwise conveyed to the Purchaser on the related Subsequent Transfer Date, the Purchaser shall, on or prior to such the related Subsequent Transfer Date, pay to or upon the order of the Seller an amount (the related "Subsequent Receivables Purchase Price") equal to the aggregate Principal Balance of the Subsequent Receivables as of the related Subsequent Cutoff Date, plus any premium or minus any discount agreed upon by the Seller and the Purchaser. Any Subsequent Receivables Purchase Price shall be payable as follows: (i) cash in the amount released to the Purchaser from the Pre-Funding Account pursuant to Section 4.11(a4.8(a) of the Sale and Servicing Agreement shall be paid to or upon the order of the Seller on the related Subsequent Transfer Date by federal wire transfer (same day funds) and the balance paid in cash as and when amounts are released to, or otherwise realized by, the Purchaser from the Reserve Account and the Negative Carry Account in accordance with the Sale and Servicing Agreement; or (ii) as otherwise agreed by the Seller and the Purchaser. SECTION 2.3.

Appears in 1 contract

Samples: Purchase Agreement (Mmca Auto Receivables Inc)

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Subsequent Receivables Purchase Price. In consideration for the Subsequent Receivables and the other property related thereto described in Section 2.1(b) to be sold, transferred, assigned and otherwise conveyed to the Purchaser on the related Subsequent Transfer Date, the Purchaser shall, on or prior to such Subsequent Transfer Date, pay to or upon the order of the Seller an amount (the related "Subsequent Receivables Purchase Price") equal to the aggregate Principal Balance of the Subsequent Receivables as of the related Subsequent Cutoff Date, plus any premium or minus any discount agreed upon by the Seller and the Purchaser. Any Subsequent Receivables Purchase Price shall be payable as follows: (i) cash in the amount released to the Purchaser from the Pre-Pre- Funding Account pursuant to Section 4.11(a4.8(a) of the Sale and Servicing Agreement shall be paid to or upon the order of the Seller on the related Subsequent Transfer Date by federal wire transfer (same day funds) and the balance paid in cash as and when amounts are released to, or otherwise realized by, the Purchaser from the Reserve Account and the Negative Carry Account in accordance with the Sale and Servicing Agreement; or (ii) as otherwise agreed by the Seller and the Purchaser. SECTION 2.3.

Appears in 1 contract

Samples: Purchase Agreement (Mmca Auto Receivables Inc)

Subsequent Receivables Purchase Price. In consideration for the Subsequent Receivables and the other property related thereto described in Section 2.1(b) to be sold, transferred, assigned and otherwise conveyed to the Purchaser on the related Subsequent Transfer Date, the Purchaser shall, on or prior to such Subsequent Transfer Date, pay to or upon the order of the Seller an amount (the related "Subsequent Receivables Purchase Price") equal to the aggregate Principal Balance of the Subsequent Receivables as of the related Subsequent Cutoff Date, plus any premium or minus any discount agreed upon by the Seller and the Purchaser. Any Subsequent Receivables Purchase Price shall be payable as follows: (i) cash in the amount released to the Purchaser from the Pre-Funding Account pursuant to Section 4.11(a4.8(a) of the Sale and Servicing Agreement shall be paid to or upon the order of the Seller on the related Subsequent Transfer Date by federal wire transfer (same day funds) and the balance paid in cash as and when amounts are released to, or otherwise realized by, the Purchaser from the Reserve Account and the Negative Carry Account in accordance with the Sale and Servicing Agreement; or (ii) as otherwise agreed by the Seller and the Purchaser.

Appears in 1 contract

Samples: Purchase Agreement (Mmca Auto Owner Trust 2000-2)

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