Purchase Group definition
Examples of Purchase Group in a sentence
No Managing Agent shall have any responsibility hereunder to any Purchaser other than the Purchasers in its Purchase Group.
Each Managing Agent shall in all cases be fully protected in acting, or in refraining from acting, in accordance with a request of the Purchasers in its related Purchase Group, and such request and any action taken or failure to act pursuant thereto shall be binding upon all such Purchasers.
Each new Purchase Group shall become a party hereto by executing and delivering to the Administrative Agent, the Seller and the Servicer an Assumption Agreement (which Assumption Agreement shall be executed by all Purchasers in such new Purchase Group).
Until Seller gives timely notice to the Administrative Agent of another Interest Rate in accordance with Section 4.4, the initial Interest Rate for any Tranche transferred to a Committed Purchaser in a Commercial Paper Purchase Group pursuant to the terms and conditions hereof, or funded by a Funding Source pursuant to the terms and conditions of any Funding Agreement, shall be the Alternate Base Rate.
The Purchase Price of the initial Incremental Purchase shall equal the initial Aggregate Net Investment; each Facility Agent, on behalf of its Purchase Group, shall pay its Purchase Group Percentage of such initial Purchase Price.
Subject to the terms and conditions hereof, for any Purchase Group that includes a Conduit Purchaser, if any Conduit Purchaser in such Purchase Group chooses not to purchase (through its related Facility Agent) an Incremental Purchase, the applicable Committed Purchaser in such Conduit Purchaser’s Purchase Group shall purchase (through the related Facility Agent) such Incremental Purchase.
On each Settlement Date, Seller shall pay to each Managing Agent (for the benefit of each Conduit Purchaser in its Purchase Group) an aggregate amount equal to all accrued and unpaid CP Costs in respect of the Capital of each such Conduit Purchaser funded with Pooled Commercial Paper or Tranche Funded Commercial Paper for the immediately preceding Accrual Period in accordance with Article II.
The Purchase Price of each subsequent Incremental Purchase shall equal the amount by which the Aggregate Net Investment is increased by such Incremental Purchase and shall be funded by the Facility Agents, pro rata on the basis of their respective Purchase Group Percentages.
Subject to the terms and conditions hereof, Incremental Purchases shall be allocated among the Facility Agents pro rata in accordance with the respective Purchase Group Percentages.
Seller shall provide the Administrative Agent (and the Administrative Agent shall promptly forward such written notice to each Managing Agent and notify each Managing Agent of its Purchase Group’s Purchase Group Share of such reduction) with prior written notice in conformity with the Required Notice Period (a “Reduction Notice”) of any proposed reduction of Aggregate Capital from Collections.