Common use of Termination of Purchase Agreement Clause in Contracts

Termination of Purchase Agreement. Any termination of Seller’s obligation to sell Receivables under the Purchase Agreement or any Originator’s obligation to sell Receivables under the Sale Agreement and, upon any such termination, the Outstanding Balance of all Receivables originated by Seller or the applicable Originator as of the last day of the month then most recently ended.

Termination of Purchase Agreement. Any termination of Seller’s obligation to sell Receivables to the Borrower under the Purchase Agreement or any Originator’s obligation to sell Receivables under the Sale Agreement and, upon any such termination, the Outstanding Balance of all Receivables originated by Seller or the applicable Originator as of the last day of the month then most recently ended.