Common use of Transfer to Investors Clause in Contracts

Transfer to Investors. Each Investor hereby agrees, subject to SECTION 2.4, that immediately upon written notice from FALCON delivered on or prior to the Liquidity Termination Date, it shall acquire by assignment from FALCON, without recourse or warranty, its Pro Rata Share of one or more of the Receivable Interests of FALCON as specified by FALCON. Each Investor shall promptly pay to the Agent at an account designated by the Agent, for the benefit of FALCON, its Acquisition Amount. Unless an Investor has notified the Agent that it does not intend to pay its Acquisition Amount, the Agent may assume that such payment has been made and may, but shall not be obligated to, make the amount of such payment available to FALCON in reliance upon such assumption. FALCON hereby sells and assigns to the Agent for the ratable benefit of the Investors, and the Agent hereby purchases and assumes from FALCON, effective upon the receipt by FALCON of the FALCON Transfer Price, the Receivable Interests of FALCON which are the subject of any transfer pursuant to this ARTICLE II.

Appears in 3 contracts

Samples: Receivables Purchase Agreement (JPF Acquisition Corp), Receivables Purchase Agreement (Yellow Corp), Receivables Purchase Agreement (Printpack Inc)

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Transfer to Investors. Each Investor hereby agrees, --------------------- subject to SECTION Section 2.4, that immediately upon written notice from FALCON PREFCO delivered on or prior to the Liquidity Termination Date, it shall acquire by assignment from FALCONPREFCO, without recourse or warranty, its Pro Rata Share of one or more of the Receivable Interests of FALCON PREFCO as specified by FALCONPREFCO. Each Investor shall promptly pay to the Agent at an account designated by the Agent, for the benefit of FALCONPREFCO, its Acquisition Amount. Unless an Investor has notified the Agent that it does not intend to pay its Acquisition Amount, the Agent may assume that such payment has been made and may, but shall not be obligated to, make the amount of such payment available to FALCON PREFCO in reliance upon such assumption. FALCON PREFCO hereby sells and assigns to the Agent for the ratable benefit of the Investors, and the Agent hereby purchases and assumes from FALCONPREFCO, effective upon the receipt by FALCON PREFCO of the FALCON PREFCO Transfer Price, the Receivable Interests of FALCON PREFCO which are the subject of any transfer pursuant to this ARTICLE Article II.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Hampshire Funding Inc)

Transfer to Investors. Each Investor hereby agrees, --------------------- subject to SECTION Section 2.4, that immediately upon written notice from FALCON delivered on or prior to the Liquidity Termination Date, it shall acquire by assignment from FALCON, without recourse or warranty, its Pro Rata Share of one or more of the Receivable Interests of FALCON as specified by FALCON. Each Investor shall promptly pay to the Agent at an account designated by the Agent, for the benefit of FALCON, its Acquisition Amount. Unless an Investor has notified the Agent that it does not intend to pay its Acquisition Amount, the Agent may assume that such payment has been made and may, but shall not be obligated to, make the amount of such payment available to FALCON in reliance upon such assumption. Effective upon the receipt by FALCON hereby of the FALCON Transfer Price, FALCON thereupon sells and assigns to the Agent for the ratable benefit of the Investors, and the Agent hereby thereby purchases and assumes from FALCON, effective upon the receipt by FALCON of the FALCON Transfer Price, the Receivable Interests of FALCON which are the subject of any transfer pursuant to this ARTICLE Article II.. [REDACTED DUE TO REQUEST FOR CONFIDENTIAL TREATMENT]

Appears in 1 contract

Samples: Receivables Purchase Agreement (Bon Ton Stores Inc)

Transfer to Investors. Each Investor hereby agrees, subject to SECTION Section 2.4, that immediately upon written notice from FALCON delivered on or prior to the Liquidity Termination Date, it shall acquire by assignment from FALCON, without recourse or warranty, its Pro Rata Share of one or more of the Receivable Interests of FALCON as specified by FALCON. Each such assignment by FALCON shall be made pro rata among the Investors, provided, however, that FALCON may at any time and from time to time, in its sole and absolute discretion, make any such assignment to any Affected Investor shall promptly on a non-pro rata basis. Each Investor shall, no later than 1:00 p.m. (Chicago time) on the date of such assignment, pay in immediately available funds to the Agent at an account designated by the Agent, for the benefit of FALCON, its Acquisition Amount. Unless an Investor has notified the Agent that it does not intend to pay its Acquisition Amount, the Agent may assume that such payment has been made and may, but shall not be obligated to, make the amount of such payment available to FALCON in reliance upon such assumption. FALCON hereby sells and assigns to the Agent for the ratable benefit of the Investors, and the Agent hereby purchases and assumes from FALCON, effective upon the receipt by FALCON of the FALCON Transfer Price, the Receivable Interests of FALCON which are the subject of any transfer pursuant to this ARTICLE Article II.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Yellow Corp)

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Transfer to Investors. Each Investor hereby agrees, --------------------- subject to SECTION Section 2.4, that immediately upon written notice from FALCON delivered on or prior to the Liquidity Termination Date, it shall acquire by assignment from FALCON, without recourse or warranty, its Pro Rata Share of one or more of the Receivable Interests of FALCON as specified by FALCON. Each Investor shall promptly pay to the Agent at an account designated by the Agent, for the benefit of FALCON, its Acquisition Amount. Unless an Investor has notified the Agent that it does not intend to pay its Acquisition Amount, the Agent may assume that such payment has been made and may, but shall not be obligated to, make the amount of such payment available to FALCON in reliance upon such assumption. Effective upon the receipt by FALCON hereby of the FALCON Transfer Price, FALCON thereupon sells and assigns to the Agent for the ratable benefit of the Investors, and the Agent hereby thereby purchases and assumes from FALCON, effective upon the receipt by FALCON of the FALCON Transfer Price, the Receivable Interests of FALCON which are the subject of any transfer pursuant to this ARTICLE Article II.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Bon Ton Stores Inc)

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