Timing of Contribution, Purchases. All of the remaining Receivables and Related Security existing at the opening of the Originators' business on the Initial Funding Date are hereby sold to Buyer as of the Initial Funding Date. After the Initial Funding Date, each Receivable and Related Security shall be deemed to have been sold to Buyer immediately (and without further action by any Person) upon the creation of such Receivable. The proceeds with respect to each Receivable (including all Collections with respect thereto) shall be sold at the same time as such Receivable, whether such proceeds (or Collections) exist at such time or arise or are acquired thereafter.
Timing of Contribution, Purchases. $10,000 of the Receivables existing at the opening of Originator's business on the Initial Funding Date are hereby contributed by Originator as capital to Buyer as of the Initial Funding Date. All of the remaining Receivables existing at the opening of Originator's business on the Initial Funding Date are hereby sold to Buyer as of the Initial Funding Date. After the Initial Funding Date, each Receivable shall be deemed to have been sold to Buyer immediately (and without further action by any Person) upon the creation of such Receivable. The proceeds with respect to each Receivable (including all Collections with respect thereto) shall be sold at the same time as such Receivable, whether such proceeds (or Collections) exist at such time or arise or are acquired thereafter.
Timing of Contribution, Purchases. Each Receivable shall be deemed to have been sold to the Buyer immediately (and without further action by any Person) upon the creation of such Receivable (the “Sold Receivables”), except if Originator shall have contributed any such Receivables to the Buyer as capital immediately upon their creation (the “Contributed Receivables”). The proceeds with respect to each Transferred Receivable (including all Collections with respect thereto) shall be sold at the same time as such Transferred Receivable, whether such proceeds (or Collections with respect thereto) exist at such time or arise or are acquired thereafter.
Timing of Contribution, Purchases. All of the Receivables existing at the opening of Originator's business on the Initial Funding Date are hereby sold to Buyer as of the Initial Funding Date. After the Initial Funding Date, each Receivable shall be deemed to have been sold or contributed to Buyer immediately (and without further action by any Person) upon the creation of such Receivable. All such Receivables, other than those Receivables contributed by Originator to Buyer (each a "Contributed Receivable"), shall be sold to Buyer on such date and all Contributed Receivables shall be contributed by Originator to Buyer on such date. The proceeds with respect to each Receivable (including all Collections with respect thereto) shall be sold or contributed at the same time as such Receivable, whether such proceeds (or Collections) exist at such time or arise or are acquired thereafter.
Timing of Contribution, Purchases. All of the Accounts and Related Security that have not previously been sold to Buyer under the Existing Agreement and existing at the opening of the Originators' business on the Initial Funding Date are hereby sold to Buyer as of the Initial Funding Date. After the Initial Funding Date, each Account and Related Security shall be deemed to have been sold to Buyer imm ediately (and without further action by any Person) upon the creation of such Account. The proceeds with respect to each Account (including all Collections with respect thereto) shall be sold at the same time as such Account, whether such proceeds (or Collections) exist at such time or arise or are acquired thereafter.
Timing of Contribution, Purchases. $750,000 of the Receivables of Albany International Corp. existing at the opening of Albany International Corp.’s business on the Initial Funding Date are hereby contributed by Albany International Corp. as capital to Buyer on the Initial Funding Date. All of the remaining Receivables and Related Security existing at the opening of the Originators’ business on the Initial Funding Date are hereby sold to Buyer as of the Initial Funding Date. After the Initial Funding Date, each Receivable and Related Security shall be deemed to have been sold to Buyer immediately (and without further action by any Person) upon the creation of such Receivable. The proceeds with respect to each Receivable (including all Collections with respect thereto) shall be sold at the same time as such Receivable, whether such proceeds (or Collections) exist at such time or arise or are acquired thereafter.
Timing of Contribution, Purchases. Originator hereby, pursuant to the terms hereof and the terms of the Stockholder and Subscription Agreement between Originator and Buyer dated as of May 31, 2012, has agreed to contribute $1,800,000 in cash as an initial capital contribution to Buyer, it being understood that in lieu of a payment of such capital contribution in cash, Originator hereby agrees that Buyer may net from the purchase price payable to the Originator on the Initial Funding Date the amount of such capital contribution and pay to the Originator the excess of such purchase price over such capital contribution. After the Initial Funding Date, upon the creation of each Receivable, it shall immediately, and without further action by any Person, be sold to Buyer pursuant to Section 2.3 or contributed by Originator to Buyer (each a “Contributed Receivable”).
