The Initial Purchase Price Payment. (a) Buyer paid a portion of the purchase price for Receivables sold under the Original Purchase Agreement by the issuance of a subordinated note thereunder (the "Original Subordinated Note"), the principal balance of which as -------------------------- of the date hereof is $116,749,117. Such Original Subordinated Note shall be replaced by a promissory note in the form of Exhibit B to this Agreement payable --------- to the order of COMPUCOM in the initial principal amount equal to the outstanding principal balance of the Original Subordinated Note as of the date hereof (such promissory note, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with any promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being called an "Buyer ----- Note"), which Buyer Note shall, in accordance with its terms, be subordinated to ---- all interests in Receivables and Related Rights and all obligations of the Buyer, of any nature, whether now or hereafter arising under or in connection with the Pooling and Servicing Agreement. (b) The Servicer shall hold the Buyer Note for the benefit of COMPUCOM, and shall make all appropriate record-keeping entries with respect to the Buyer Note or otherwise to reflect payments on and adjustments of the Buyer Note; provided that the failure to make such notation shall not be construed to reduce -------- the amount owing under such Buyer Note. The Servicer's books and records shall constitute rebuttable presumptive evidence of the principal amount of and accrued and unpaid interest on the Buyer Note at any time. COMPUCOM hereby irrevocably authorizes the Servicer to xxxx its Buyer Note "CANCELED" and to return such Buyer Note to the Buyer upon the full and final payment thereof after the Sale Termination Date. (c) The Buyer Note shall bear interest at a rate equal to the LIBO Rate plus 1.5%. Such rate shall be readjusted on each six month anniversary of the date hereof.
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Samples: Receivables Contribution and Sale Agreement (Compucom Systems Inc), Receivables Contribution and Sale Agreement (Safeguard Scientifics Inc Et Al)
The Initial Purchase Price Payment. (a) Buyer paid a portion On or prior to the Initial Purchase Date, the SPV Purchaser shall pay the Purchase Price for the purchases to be made from each of the purchase price for Originators, with respect to the Receivables sold of such Originator existing on or prior to the Initial Cut-Off Date (i) in cash in an amount equal to the amount received by the SPV Purchaser from the Purchaser under the Original Receivables Purchase Agreement as of the Initial Purchase Date in connection with the first Purchase made pursuant to the Receivables Purchase Agreement attributable to such Receivables, and (ii) by the issuance of a subordinated note thereunder (the "Original Subordinated Note"), the principal balance of which as -------------------------- of the date hereof is $116,749,117. Such Original Subordinated Note shall be replaced by a promissory note in the form of Exhibit B to this Agreement payable --------- to the order of COMPUCOM such Originator in the initial principal amount equal to the outstanding principal balance remainder of the Original Subordinated Note as of Purchase Price then owing to such Originator after subtracting the date hereof amount paid in cash (each such promissory note, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with any promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being called an "Buyer ----- SPV Purchaser Note" and, collectively, with the SPV Purchaser Notes issued to the other Originators, the "SPV Purchaser Notes"), which Buyer SPV Purchaser Note shall, in accordance with its terms, be subordinated to ---- all interests in Receivables and Related Rights and all obligations of the Buyer, SPV Purchaser of any nature, whether now or hereafter arising arising, under or in connection with the Pooling and Servicing Receivables Purchase Agreement.
(b) The Servicer shall hold the Buyer Note SPV Purchaser Notes for the benefit of COMPUCOM, the respective Originators and shall make all appropriate record-keeping entries with respect to the Buyer Note SPV Purchaser Notes or otherwise to reflect payments on and adjustments of the Buyer Note; provided that the failure to make such notation shall not be construed to reduce -------- the amount owing under such Buyer NoteSPV Purchaser Notes. The Servicer's books and records shall constitute rebuttable presumptive evidence of the principal amount of and accrued and unpaid interest on each of the Buyer Note SPV Purchaser Notes at any time. COMPUCOM Each of the Originators hereby irrevocably authorizes the Servicer to xxxx its Buyer Note SPV Purchaser Notes "CANCELED" and to return such Buyer Note SPV Purchaser Notes to the Buyer SPV Purchaser upon the full and final payment thereof after the Sale Termination Date.
(c) The Buyer Note shall bear interest at a rate equal to the LIBO Rate plus 1.5%. Such rate shall be readjusted on each six month anniversary of the date hereof.
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The Initial Purchase Price Payment. (a) Buyer paid a portion On or prior to the Initial Closing Date, the Initial Purchaser shall pay the Purchase Price for the purchase to be made from each Originator with respect to the Receivables existing on or prior to the Initial Cut-Off Date (other than the Initial Contributed Receivables) (i) in cash in an amount equal to such Originator's pro rata share (based on the ratio of the purchase price for Unpaid Balance of the Receivables sold under on such date generated by such Originator to the Original aggregate Unpaid Balance of the Receivables sold on such date generated by all of the Originators) the amount received by the Initial Purchaser from the Purchaser in connection with the first Purchase made pursuant to the Receivables Purchase Agreement and (ii) by the issuance of a subordinated note thereunder (the "Original Subordinated Note"), the principal balance of which as -------------------------- of the date hereof is $116,749,117. Such Original Subordinated Note shall be replaced by a promissory note in the form of Exhibit B to this Agreement payable --------- to the order of COMPUCOM such Originator in the initial principal amount equal to the outstanding principal balance remainder of the Original Subordinated Note as of Purchase Price owing after subtracting the date hereof amount paid in cash (such promissory notenote together with the promissory note issued to any other Originator hereunder, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with any promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being called an "Buyer ----- Initial Purchaser Note"), each of which Buyer Note Initial Purchaser Notes shall, in accordance with its terms, be subordinated to ---- all interests in Pool Receivables and Related Rights and all obligations of the BuyerInitial Purchaser, of any nature, whether now or hereafter arising under or in connection with the Pooling and Servicing Receivables Purchase Agreement.
(b) The Servicer shall hold the Buyer Initial Purchaser Note for the benefit of COMPUCOMthe related Originator, and shall make all appropriate record-keeping entries with respect to the Buyer Initial Purchaser Note or otherwise to reflect payments on and adjustments of the Buyer Note; provided that the failure to make such notation shall not be construed to reduce -------- the amount owing under such Buyer Initial Purchaser Note. The Servicer's books and records shall constitute rebuttable presumptive evidence of the principal amount of and accrued and unpaid interest on the Buyer Initial Purchaser Note at any time. COMPUCOM Each Originator hereby irrevocably authorizes the Servicer to xxxx mxxx its Buyer Initial Purchaser Note "CANCELED" and to return such Buyer Initial Purchaser Note to the Buyer Initial Purchaser upon the full and final payment thereof after the Sale Termination Date.
(c) The Buyer Note shall bear interest at a rate equal to the LIBO Rate plus 1.5%. Such rate shall be readjusted on each six month anniversary of the date hereof.
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The Initial Purchase Price Payment. (a) Buyer paid a portion of On or prior to the Initial Closing Date, the Initial Purchaser shall pay the Purchase Price for the purchase price for to be made from Maxtor with respect to the Receivables sold under existing on or prior to the Original Initial Cut-Off Date (i) in cash in an amount equal to the amount received by the Initial Purchaser from the Purchaser in connection with the first Purchase made pursuant to the Receivables Purchase Agreement, minus the amount required to be paid by the Initial Purchaser to repurchase Receivables pursuant to the Repurchase Agreement and (ii) by the issuance of a subordinated note thereunder (the "Original Subordinated Note"), the principal balance of which as -------------------------- of the date hereof is $116,749,117. Such Original Subordinated Note shall be replaced by a promissory note in the form of Exhibit B to this Agreement payable --------- to the order of COMPUCOM Maxtor in the initial principal amount equal to the outstanding principal remainder of the Purchase Price owing after subtracting the amount paid in cash plus the balance of the Original Subordinated Non-Negotiable Term Note dated April 8, 1998, executed and delivered by the Initial Purchaser in favor of Maxtor, as adjusted after giving effect to the Repurchase Agreement, and upon such adjustment and transfer of the date hereof outstanding balance pursuant to this Section 3.1(a), the Non-Negotiable Term Note dated April 8, 1998 shall be deemed cancelled in accordance with the terms of the Repurchase Agreement (such promissory notenote together with the promissory note issued to any other Originator hereunder, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with any promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being called an "Buyer ----- Initial Purchaser Note"), each of which Buyer Initial Purchaser Note shall, in accordance with its terms, be subordinated to ---- all interests in Pool Receivables and Related Rights and all obligations of the BuyerInitial Purchaser, of any nature, whether now or hereafter arising under or in connection with the Pooling and Servicing Receivables Purchase Agreement.
(b) The Servicer shall hold the Buyer Initial Purchaser Note for the benefit of COMPUCOMthe related Originator, and shall make all appropriate record-keeping entries with respect to the Buyer Initial Purchaser Note or otherwise to reflect payments on and adjustments of the Buyer Note; provided that the failure to make such notation shall not be construed to reduce -------- the amount owing under such Buyer Initial Purchaser Note. The Servicer's books and records shall constitute rebuttable presumptive evidence of the principal amount of and accrued and unpaid interest on the Buyer Initial Purchaser Note at any time. COMPUCOM Each Originator hereby irrevocably authorizes the Servicer to xxxx its Buyer mark xxx Initial Purchaser Note "CANCELED" and to return such Buyer Initial Purchaser Note to the Buyer Initial Purchaser upon the full and final payment thereof after the Sale Termination Date.
(c) The Buyer Note shall bear interest at a rate equal to the LIBO Rate plus 1.5%. Such rate shall be readjusted on each six month anniversary of the date hereof.
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The Initial Purchase Price Payment. (a) Buyer paid a portion of the purchase price for Receivables sold under the Original Purchase Agreement by the issuance of a subordinated note thereunder (the "Original Subordinated Note"), the principal balance of which as -------------------------- of the date hereof is $116,749,117. Such Original Subordinated Note shall be replaced by a promissory note in the form of Exhibit B to this Agreement payable --------- to the order of COMPUCOM in the initial principal amount equal to the outstanding principal balance of the Original Subordinated Note as of the date hereof (such promissory note, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with any promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being called an "Buyer ----- Note"), which Buyer Note ---------- shall, in accordance with its terms, be subordinated to ---- all interests in Receivables and Related Rights and all obligations of the Buyer, of any nature, whether now or hereafter arising under or in connection with the Pooling and Servicing Agreement.
(b) The Servicer shall hold the Buyer Note for the benefit of COMPUCOM, and shall make all appropriate record-keeping entries with respect to the Buyer Note or otherwise to reflect payments on and adjustments of the Buyer Note; provided that the failure to make such notation shall not be construed to -------- reduce -------- the amount owing under such Buyer Note. The Servicer's books and records shall constitute rebuttable presumptive evidence of the principal amount of and accrued and unpaid interest on the Buyer Note at any time. COMPUCOM hereby irrevocably authorizes the Servicer to xxxx its Buyer Note "CANCELED" and to return such Buyer Note to the Buyer upon the full and final payment thereof after the Sale Termination Date.
(c) The Buyer Note shall bear interest at a rate equal to the LIBO Rate plus 1.5%Rate. Such rate shall be readjusted on each six month anniversary of the date hereof.
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Samples: Receivables Contribution and Sale Agreement (Compucom Systems Inc)
The Initial Purchase Price Payment. (a) Buyer paid a portion of On or prior to the Initial Closing Date, the Initial Purchaser shall pay the Purchase Price for the purchase price for to be made from D&K with respect to the Receivables sold under existing on or prior to the Original Initial Cut-Off Date (other than the Initial Contributed Receivables) (i) in cash in an amount equal to the amount received by the Initial Purchaser from the Purchaser in connection with the first Purchase made pursuant to the Receivables Purchase Agreement and (ii) by the issuance of a subordinated note thereunder (the "Original Subordinated Note"), the principal balance of which as -------------------------- of the date hereof is $116,749,117. Such Original Subordinated Note shall be replaced by a promissory note in the form of Exhibit B to this Agreement payable --------- to the order of COMPUCOM D&K in the initial principal amount equal to the outstanding principal balance remainder of the Original Subordinated Note as of Purchase Price owing after subtracting the date hereof amount paid in cash (such promissory notenote together with the promissory note issued to any other Originator hereunder, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with any promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being called an "Buyer ----- Initial Purchaser Note"), each of which Buyer Initial Purchaser Note shall, in accordance with its terms, be subordinated to ---- all interests in Pool Receivables and Related Rights and all obligations of the BuyerInitial Purchaser, of any nature, whether now or hereafter arising under or in connection with the Pooling and Servicing Receivables Purchase Agreement.
(b) The Servicer shall hold the Buyer Initial Purchaser Note for the benefit of COMPUCOMthe related Originator, and shall make all appropriate record-keeping entries with respect to the Buyer Initial Purchaser Note or otherwise to reflect payments on and adjustments of the Buyer Note; provided that the failure to make such notation shall not be construed to reduce -------- the amount owing under such Buyer Initial Purchaser Note. The Servicer's books and records shall constitute rebuttable presumptive evidence of the principal amount of and accrued and unpaid interest on the Buyer Initial Purchaser Note at any time. COMPUCOM Each Originator hereby irrevocably authorizes the Servicer to xxxx its Buyer mark xxx Initial Purchaser Note "CANCELED" and to return such Buyer Initial Purchaser Note to the Buyer Initial Purchaser upon the full and final payment thereof after the Sale Termination Date.
(c) The Buyer Note shall bear interest at a rate equal to the LIBO Rate plus 1.5%. Such rate shall be readjusted on each six month anniversary of the date hereof.
Appears in 1 contract
Samples: Purchase and Sale Agreement (D & K Healthcare Resources Inc)