Examples of Paying Seller in a sentence
Each Reimbursing Seller must pay any Payment Obligation due to the Paying Seller within ten (10) days of receipt of notice from the Paying Seller of the making of a Seller Payment.
Details of which are set out in the Company’s announcement dated 14 June 2017.
With respect to each Seller Payment, the Seller (the “Reimbursing Seller”) other than the Paying Seller making such Seller Payment will be responsible for paying the Paying Seller an amount equal to (i) the full amount of the Seller Payment, in the case of a Breach Liability Obligation, and (ii) otherwise, the Seller Payment multiplied by such Reimbursing Seller’s Pro Rata Share (with respect to each Seller, such amount is referred to as such Seller’s “Payment Obligation”).
To the extent any Seller (a “Paying Seller”) shall have paid more than its proportionate share of any payment made hereunder, such Paying Seller hereby waives (i) any right to subrogation or set-off that it may acquire on account of such payment against any other Seller or any collateral security or guarantee and (ii) the right to seek contribution or reimbursement from any other Seller in respect such payment, in each case, until all Repurchase Obligations are paid in full.
To the extent any Seller (a “ Paying Seller”) shall have paid more than its proportionate share of any payment made hereunder, such Paying Seller hereby waives (i) any right to subrogation or set-off that it may acquire on account of such payment against any other Seller or any collateral security or guarantee and (ii) the right to seek contribution or reimbursement from any other Seller in respect such payment, in each case, until all Repurchase Obligations are paid in full.