Purchase Agreement Supplement definition
Examples of Purchase Agreement Supplement in a sentence
The Borrower confirms that, during the continuation of an Event of Default, the Administrative Agent shall have the sole right to enforce the Borrower’s rights and remedies under the Purchase Agreement or any Purchase Agreement Supplement for the benefit of the Secured Parties, but without any obligation on the part of the Secured Parties or any of their respective Affiliates, to perform any of the obligations of the Borrower under the Purchase Agreement or any Purchase Agreement Supplement.
The Borrower hereby represents, warrants and confirms to the Administrative Agent that the Borrower has assigned to the Administrative Agent, for the ratable benefit of the Secured Parties hereunder, all of the Borrower’s right and title to and interest in the Purchase Agreement (including each Purchase Agreement Supplement).
If Lendbuzz Funding is no longer the Servicer, the Servicer shall also enforce any and all rights of the Borrower under the Purchase Agreement (including each Purchase Agreement Supplement) including the right to require Lendbuzz Funding to repurchase Receivables for breaches of representations and warranties made by Lendbuzz Funding.
If Lendbuzz Floorplan is no longer the Servicer, the Servicer shall also enforce any and all rights of the Borrower under the Purchase Agreement (including each Purchase Agreement Supplement) including the right to require Lendbuzz Floorplan to repurchase Receivables for breaches of representations and warranties made by Lendbuzz Floorplan.
On or before each Funding Date, the initial Servicer shall have instructed all Obligors of the Receivables included in the Purchase Agreement Supplement provided in connection with such Funding Date to make all payments in respect of such Receivables directly to the Remittance Account.