Common use of The Sold Interest Clause in Contracts

The Sold Interest. Subject to the terms and conditions hereof, the Seller may, from time to time before the Termination Date, request that the Conduit Purchasers (or, only if a Conduit Purchaser denies such request or is unable to fund, ratably request that the Related Bank Purchasers make purchases of an undivided percentage ownership interest in the Receivables, the Related Security and all related Collections. Upon any such request, subject to the terms and conditions of this Agreement, the Conduit Purchasers may, in their sole discretion, purchase such interest, or, if any such Conduit Purchaser decides not to purchase such interest, the Related Bank Purchasers for such Conduit Purchaser shall purchase such interest. Such interest shall be transferred to the Agent, on behalf of each Purchaser Agent as representative of the applicable Conduit Purchaser or Related Bank Purchaser, as the case may be. Any such purchase (a "Purchase") shall be made by each relevant Purchaser remitting funds to the Seller pursuant to Section 1.1(c) or by the Collection Agent remitting Collections to the Seller pursuant to Section 1.1(d). The aggregate percentage ownership interest so acquired by a Purchaser in the Receivables, the Related Security and related Collections (its "Purchase Interest") shall equal at any time the following quotient: I + PRP NRB where: I = the outstanding Investment of such Purchaser at such time; NRB = the Net Receivables Balance at such time; and PRP = the Purchaser Reserve Percentage at such time. Except during a Liquidation Period for a Purchaser, such Purchaser's Purchase Interest will change whenever its Investment, its Purchaser Reserve Percentage or the Net Receivables Balance changes. During a Liquidation Period for a Purchaser its Purchase Interest shall remain constant, except for redeterminations to reflect Investment acquired from or transferred to a Purchaser under Article II or pursuant to a Transfer Agreement. The sum of all Purchasers' Purchase Interests at any time is referred to herein as the "Sold Interest", which at any time is the aggregate percentage ownership interest then held by the Purchasers in the Receivables, the Related Security and Collections.

The Sold Interest. Subject to the terms and conditions hereof, the Seller may, from time to time before the Termination Date, request that the Conduit Purchasers (or, only if (i) a Conduit Purchaser denies such request or is unable to fundfund or (ii) a Purchaser Group does not include a Conduit Purchaser, ratably request that the Related Bank Purchasers for such Conduit Purchaser) make purchases of an undivided percentage ownership interest in its right, title and interest in the Receivables, the Related Security Receivables and all related Collections. Upon any such request, subject to the terms and conditions of this Agreement, (i) the Conduit Purchasers may, in their sole discretion, purchase such interest, or, if any such Conduit Purchaser decides not to purchase such interest, the Related Bank Purchasers for such Conduit Purchaser shall purchase such interest and (ii) the Related Bank Purchasers for any Purchaser Group that does not include a Conduit Purchaser shall purchase such interest. Such interest shall be transferred to the Agent, on behalf of each Purchaser Agent as representative of the applicable Conduit Purchaser or Related Bank Purchaser, as the case may be. Any such purchase (a "“Purchase"”) shall be made by each relevant Purchaser remitting funds to the Seller Seller, pursuant to Section 1.1(c) or by the Collection Agent remitting Collections to the Seller pursuant to Section 1.1(d). The aggregate percentage ownership interest so acquired by a Purchaser in the Receivables, the Related Security Receivables and related Collections (its "“Purchase Interest"”) shall equal at any time the following quotient: I ER + PRP NRB where: I = the outstanding Investment of such Purchaser at such time; NRB ER = the Net Eligible Receivables Balance at such time; and PRP = the Purchaser Reserve Percentage at such time. Except during a Liquidation Period for a Purchaser, such Purchaser's ’s Purchase Interest will change whenever its Investment, its Purchaser Reserve Percentage or the Net Eligible Receivables Balance changes. During a Liquidation Period for a Purchaser its Purchase Interest shall remain constant, except for redeterminations to reflect Investment acquired from or transferred to a Purchaser under Article II or pursuant to a Transfer Agreement. The sum of all Purchasers' ’ Purchase Interests at any time is referred to herein as the "“Sold Interest"”, which at any time is the aggregate percentage ownership interest then held by the Purchasers in the Receivables, the Related Security Receivables and Collections.

The Sold Interest. Subject to the terms and conditions hereof, the Seller may, from time to time before the Termination Date, request that the Conduit one or more Purchasers (or, in the case of an Uncommitted Purchaser, only if a Conduit such Uncommitted Purchaser denies such request or is unable to fund, ratably request that the Related Bank Purchasers Purchasers, if any, for such Uncommitted Purchaser) make purchases of an undivided percentage ownership interest in the Receivables, the Related Security Receivables and all related Collections. Upon any such request, subject to the terms and conditions of this Agreement, (i) the Conduit Uncommitted Purchasers may, in their sole discretion, purchase such interest, or, if any such Conduit Uncommitted Purchaser decides not to purchase such interest, the Related Bank Purchasers, if any, of such Uncommitted Purchaser shall purchase such interest, and (ii) the Committed Purchasers for such Conduit Purchaser shall purchase such interest. Such interest shall be transferred to the Agent, on behalf of each Purchaser Agent as representative of the applicable Conduit Purchaser or Related Bank Purchaser, as the case may be. Any such purchase (a "“Purchase") shall be made by each relevant Purchaser remitting funds to the Seller Agent’s Account, pursuant to Section 1.1(c) or by the Collection Agent Servicer remitting Collections to the Seller pursuant to Section 1.1(d). The aggregate percentage ownership interest so acquired by a Purchaser in the Receivables, the Related Security Receivables and related Collections (its "“Purchase Interest") shall equal at any time the following quotient: I + PRP NRB where: I = the outstanding Investment of such Purchaser at such time; PR = the Purchaser Reserve for such Purchaser at such time; and NRB = the Net Receivables Balance at such time; and PRP = the Purchaser Reserve Percentage at such time. Except during a Liquidation Period for a Purchaser, such Purchaser's ’s Purchase Interest will change whenever its Investment, its Purchaser Reserve Percentage or the Net Receivables Balance changes. During a Liquidation Period for a Purchaser its Purchase Interest shall remain constant, except for redeterminations to reflect Investment acquired from or transferred to a Purchaser under Article II or pursuant to a Transfer AgreementII. The sum of all Purchasers' ’ Purchase Interests at any time is referred to herein as the "“Sold Interest"”, which at any time is the aggregate percentage ownership interest then held by the Purchasers in the Receivables, the Related Security Receivables and Collections.

The Sold Interest. Subject to the terms and conditions hereof, the Seller may, from time to time before the Liquidity Termination Date, request that the Conduit Purchasers (sell to Amsterdam or, only if a Conduit Purchaser denies such request or is unable Amsterdam declines to fundmake the applicable purchase, ratably request that to the Related Bank Committed Purchasers (who hereby agree, subject to the terms and conditions hereof, in such event to make purchases of such purchase) an undivided percentage ownership interest in the Receivables, the Related Security and all related Collections. Upon any such request, subject to the terms and conditions of this Agreement, the Conduit Purchasers may, in their sole discretion, purchase such interest, or, if any such Conduit Purchaser decides not to purchase such interest, the Related Bank Purchasers for such Conduit Purchaser shall purchase such interest. Such interest shall be transferred to the Agent, on behalf of each Purchaser Agent as representative of the applicable Conduit Purchaser or Related Bank Purchaser, as the case may be. Any such purchase (a "“Purchase"”) shall be made by each relevant Purchaser remitting funds to the Seller Seller, through the Agent, pursuant to Section 1.1(c) or by the Collection Agent remitting Collections to the Seller pursuant to Section 1.1(d). The aggregate percentage ownership interest so acquired by a Purchaser in the Receivables, the Related Security and related Collections (its "“Purchase Interest"”) shall equal at any time the sum of the following quotientpercentages: I + PRP NRB where: I = the outstanding Investment of such Purchaser at such time; NRB ER = the Net Eligible Receivables Balance at such time; and PRP = the Purchaser Reserve Percentage at such time. Except during a Liquidation Period for a Purchaser, such Purchaser's ’s Purchase Interest will change whenever its Investment, its Purchaser Reserve Percentage or the Net Eligible Receivables Balance changes. During a Liquidation Period for a Purchaser its Purchase Interest shall remain constantconstant at the percentage in effect as of the day immediately preceding the commencement of the relevant Liquidation Period, except for redeterminations to reflect Investment acquired from or transferred to a another Purchaser under Article II or pursuant to a the Transfer Agreement. The sum of all Purchasers' ’ Purchase Interests at any time is referred to herein as the "“Sold Interest"”, which at any time is the aggregate percentage ownership interest then held by the Purchasers in the Receivables, the Related Security and Collections.

The Sold Interest. Subject to the terms and conditions hereof, the Seller may, from time to time before the Liquidity Termination Date, request that the Conduit Purchasers (sell to Windmill or, only if a Conduit Purchaser denies such request or is unable Windmill declines to fundmake the applicable purchase, ratably request that to the Related Bank Committed Purchasers (who hereby agree, subject to the terms and conditions hereof, in such event to make purchases of such purchase) an undivided percentage ownership interest in the Receivables, the Related Security and all related Collections. Upon any such request, subject to the terms and conditions of this Agreement, the Conduit Purchasers may, in their sole discretion, purchase such interest, or, if any such Conduit Purchaser decides not to purchase such interest, the Related Bank Purchasers for such Conduit Purchaser shall purchase such interest. Such interest shall be transferred to the Agent, on behalf of each Purchaser Agent as representative of the applicable Conduit Purchaser or Related Bank Purchaser, as the case may be. Any such purchase (a "Purchase") shall be made by each relevant Purchaser remitting funds to the Seller Seller, through the Agent, pursuant to Section 1.1(c) or by the Collection Agent remitting Collections to the Seller pursuant to Section 1.1(d). The aggregate percentage ownership interest so acquired by a Purchaser in the Receivables, the Related Security and related Collections (its "Purchase Interest") shall equal at any time the sum of the following quotientpercentages: I + PRP NRB ----------- ER where: I = the outstanding Investment of such Purchaser at such time; NRB ER = the Net Eligible Receivables Balance at such time; and PRP = the Purchaser Reserve Percentage at such time. Except during a Liquidation Period for a Purchaser, such Purchaser's Purchase Interest will change whenever its Investment, its Purchaser Reserve Percentage or the Net Eligible Receivables Balance changes. During a Liquidation Period for a Purchaser its Purchase Interest shall remain constantconstant at the percentage in effect as of the day immediately preceding the commencement of the relevant Liquidation Period, except for redeterminations to reflect Investment acquired from or transferred to a another Purchaser under Article II or pursuant to a the Transfer Agreement. The sum of all Purchasers' Purchase Interests at any time is referred to herein as the "Sold Interest", which at any time is the aggregate percentage ownership interest then held by the Purchasers in the Receivables, the Related Security and Collections.

The Sold Interest. Subject to the terms and conditions hereof, the Seller may, from time to time before the Termination Date, request that the Conduit Purchasers (or, only if a Conduit Purchaser denies such request or is unable to fund, ratably request that the Related Bank Purchasers Purchasers) make purchases of an undivided percentage ownership interest in the Receivables, the Related Security and all related Collections. Upon any such request, subject to the terms and conditions of this Agreement, the Conduit Purchasers may, in their sole discretion, purchase such interest, or, if any such Conduit Purchaser decides not to purchase such interest, the Related Bank Purchasers for such Conduit Purchaser shall purchase such interest. Such interest shall be transferred to the Agent, on behalf of each Purchaser Agent as representative of the applicable Conduit Purchaser or Related Bank Purchaser, as the case may be. Any such purchase (a "Purchase") shall be made by each relevant Purchaser remitting funds to the Seller pursuant to Section 1.1(c) or by the Collection Agent remitting Collections to the Seller pursuant to Section 1.1(d). The aggregate percentage ownership interest so acquired by a Purchaser in the Receivables, the Related Security and related Collections (its "Purchase Interest") Interest shall equal at any time the following quotient: : I + PRP NRB where: I = the outstanding Investment of such Purchaser at such time; NRB = the Net Receivables Balance at such time; and PRP = the Purchaser Reserve Percentage at such time. Except during a Liquidation Period for a Purchaser, such Purchaser's Purchase Interest will change whenever its Investment, its Purchaser Reserve Percentage or the Net Receivables Balance changes. During a Liquidation Period for a Purchaser its Purchase Interest shall remain constant, except for redeterminations to reflect Investment acquired from or transferred to a Purchaser under Article II or pursuant to a Transfer Agreement. The sum of all Purchasers' Purchase Interests at any time is referred to herein as the "Sold Interest", which at any time is the aggregate percentage ownership interest then held by the Purchasers in the Receivables, the Related Security and Collections.