The Class B Sold Interest Sample Clauses

The Class B Sold Interest. Subject to the terms and conditions hereof, the Seller may, from time to time before the Termination Date, request that the Class B Purchasers make purchases of undivided ownership interests in the Receivables, all related Collections and all proceeds of the foregoing. Upon any such request, subject to the terms and conditions of this Agreement, each Class B Purchaser shall purchase such interest. Such interests shall be transferred to the Agent, as representative of the Class B Purchasers. Any such purchase (a “Class B Purchase”) shall be made by each Class B Purchaser remitting funds to the Agent, pursuant to Section 1.1(f). The ownership interest so acquired by a Class B Purchaser in the Receivables and the related Collections and proceeds is herein called its “Class B Purchase Interest” and entitles such Class B Purchaser to receive payments from the Receivables and the related Collections and proceeds in respect of Class B Investments, Discount and other amounts payable in accordance with the terms of this Agreement, including, without limitation, in accordance with the applicable priorities set forth in Section 1.8. All of the Class B Purchasers’ Class B Purchase Interests at any time are referred to herein as the “Class B Sold Interest”, which at any time is the aggregate ownership interest then held by the Class B Purchasers in the Receivables and the related Collections and proceeds. The parties hereto acknowledge and agree that, immediately prior to the effectiveness of this Agreement but after giving effect to the repayment in full of the Investments of the Departing Purchasers, the Class B Purchasers held Class B Purchase Interests with an Aggregate Class B Investment of $19,500,000 under the Original Receivables Sale Agreement (the “Original Class B Interest”). The Original Class B Interest shall remain outstanding as hereunder, and nothing in this Agreement shall be deemed to release any ownership or security interest in favor of the Agent or the Purchasers in respect thereof. All amounts accrued and unpaid under the Original Receivables Sale Agreement shall continue to be outstanding and payable under this Agreement.
Sample 1
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The Class B Sold Interest. Subject to the terms and conditions hereof, the Seller may, from time to time before the Termination Date, request that the Class B Purchasers make purchases of undivided ownership interests in the Receivables, all related Collections and all
Sample 1

Related to The Class B Sold Interest

  • Residual Interest and Transfer of Interests 6 Section 3.1. The Residual Interest. 6

  • Residual Interest Notwithstanding anything to the contrary contained herein, the Company is hereby authorized to retain from amounts otherwise distributable to the Holders of the Class R-2 Residual Interest on any Distribution Date sufficient funds to reimburse the Company for the payment of such tax (to the extent that the Company has not been previously reimbursed therefor).

  • The Class 1-A-1, Class 1-A-2 and Class 1-A-3 Certificates.

  • Percentage Interest Ownership of the Company shall be divided into, represented by, and each Member’s Percentage Interest shall be expressed in Units of the Company. The name, address, Units and Percentage Interest of each Member are set forth on Exhibit “A” attached hereto, which may be amended from time to time as necessary to reflect changes in the Percentage Interests and Units held by the Members.

  • Late Charge; Interest Tenant acknowledges that the late payment of Base Rent or any other amounts payable by Tenant to Landlord hereunder (all of which shall constitute additional rental to the same extent as Base Rent) will cause Landlord to incur administrative costs and other damages, the exact amount of which would be impracticable or extremely difficult to ascertain. Landlord and Tenant agree that if Landlord does not receive any such payment on or before five (5) days after the date the payment is due, Tenant shall pay to Landlord, as additional rent, (a) a late charge equal to five percent (5%) of the overdue amount to cover such additional administrative costs; and (b) interest on the delinquent amounts at the lesser of the maximum rate permitted by law if any or twelve percent (12%) per annum from the date due to the date paid.

  • Interim Interest If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.

  • Class R Certificates Subordinated Certificates.... Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates.

  • ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,493,405.52.

  • Deferred Interest Not applicable.

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