Defaulting Purchaser Group definition

Defaulting Purchaser Group means, for each Defaulting Purchaser, such Defaulting Purchaser, the other Purchasers in such Defaulting Purchaser’s Purchaser Group and its related Purchaser Agent.
View Source
Defaulting Purchaser Group means (a) any CP Conduit Purchaser Group that includes an APA Bank that, as determined by the Administrative Agent, has (i) failed to fund any portion of an Increase Amount hereunder within three (3) Business Days of the date required to be funded by it hereunder, (ii) notified the Issuer or the Administrative Agent in writing that it does not intend to comply with any of its funding obligations hereunder or has made a public statement to the effect that it does not intend to comply with its funding obligations hereunder, (iii) failed, within three (3) Business Days after request by the Administrative Agent, to confirm that it will comply with the terms of this Indenture Supplement relating to its obligations to fund prospective Increase Amounts hereunder, (iv) otherwise failed to pay over to the Administrative Agent, its related Funding Agent or any Person included in the same CP Conduit Purchaser Group any other amount required to be paid by it hereunder within three (3) Business Days of the date when due, unless the subject of a good faith dispute, or (v) (A) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it or (B) has a parent company that has become the subject of a bankruptcy or insolvency proceeding, or a receiver, conservator, trustee or custodian has been appointed for such parent company or (b) any Non-Conduit Purchaser Group the Non-Conduit Purchaser of which, as determined by the Administrative Agent, has (i) failed to fund any portion of an Increase Amount hereunder within three (3) Business Days of the date required to be funded by it hereunder, (ii) notified the Issuer or the Administrative Agent in writing that it does not intend to comply with any of its funding obligations hereunder or has made a public statement to the effect that it does not intend to comply with its funding obligations hereunder, (iii) failed, within three (3) Business Days after request by the Administrative Agent, to confirm that it will comply with the terms of this Indenture Supplement relating to its obligations to fund prospective Increase Amounts hereunder, (iv) otherwise failed to pay over to the Administrative Agent any other amount required to be paid by it hereunder within three (3) Business Days of the date when due, unless the subject of a good faith dispute, or (v) (A) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee...
View Source

Examples of Defaulting Purchaser Group in a sentence

  • For the avoidance of doubt, no provision of this Section 2.11 shall be deemed to relieve any Defaulting Purchaser Group of its commitment hereunder and the Issuer may pursue all rights and remedies available to it under the law in connection with the event(s) which resulted in such Purchaser Group becoming a Defaulting Purchaser Group.

  • If any member of a Defaulting Purchaser Group fails to enter into a Purchaser Group Supplement with a Replacement Purchaser Group in accordance with Section 12.10(e) within five (5) Business Days of the date on which such Purchaser Group Supplement shall have been executed and delivered to such member by such Replacement Purchaser Group, then such member shall be deemed to have executed and delivered such Purchaser Group Supplement without any action on the part of such member.