Purchase Obligation definition

Purchase Obligation means the unconditional and irrevocable obligation of the Liquidity Provider during the term and pursuant to the terms of the VRDP Shares Purchase Agreement to purchase Outstanding VRDP Shares on any Purchase Date at the Purchase Price from Beneficial Owners, in the case of any Optional Tender, and Holders, in the case of any Mandatory Tender or any Mandatory Purchase, in each case following delivery of a Final Notice of Purchase with respect to such VRDP Shares.

Purchase Obligation. An obligation of the Company to repurchase Mortgage Loans under the circumstances and in the manner provided in Section 2.07 or Section 2.08.

Purchase Obligation means an agreement to purchase goods or services that is enforceable and legally binding on your company that specifies all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction.

Examples of Purchase Obligation in a sentence

• Seller may terminate this Agreement upon one year notice if Distributor (1) fails to reach its Minimum Purchase Obligation for two consecutive years and (2) also fails to cure such shortfall with a cash payment or sufficient purchase of Products.

• Seller and Buyer will use commercially reasonable efforts to minimize deviations from Buyer’s Monthly Purchase Obligation during each Month and Contract Year to date, and may offset deficits or overages in a Month by delivering quantities above or below Buyer’s Monthly Purchase Obligation in subsequent Months during the remainder of that Contract Year.

• Seller’s forecast for the front month of the 3 Month Forecast shall be utilized to calculate Buyer’s Monthly Purchase Obligation as defined in Section 3.3. below.

• In the second year after the Effective Date, if the Distributor fails to purchase sufficient Product to reach the Minimum Purchase Obligation, then Distributor may elect to (i) purchase Products sufficient to eliminate the shortfall, (ii) make an equivalent cash payment to Seller, or (iii) do nothing.

• Buyer shall be solely responsible for ensuring the availability of a sufficient number of empty Containers to take delivery of Buyer’s Monthly Purchase Obligation hereunder.

More Definitions of Purchase Obligation

Purchase Obligation. An obligation of the Sponsor or the Depositor to purchase Mortgage Loans under the circumstances and in the manner provided in Section 2.02 or 2.04.

Purchase Obligation means a binding sale and purchase agreement entered into by the Company with respect to the acquisition of EEL that specifies all significant terms related thereto, and the timing of the transaction.

Purchase Obligation shall have the meaning ascribed to such term in Section 2.01 hereof.

Purchase Obligation the Originator's obligation to purchase any ------------------- Lease pursuant to the provisions of Section 5.04 hereof. Rating Agency - Standard & Poor's Ratings Services, a division of the ------------- XxXxxx-Xxxx Companies or Xxxxx'x Investors Service Inc. and their respective successors. Registration Statement - the Registration Statement (File No. 333- ---------------------- 71073), as amended and supplemented from time to time, relating to the offering from time to time of up to $1,825,000,000 aggregate principal amount of the Issuer's Lease-Backed Notes. Related Interests - with respect to any Lease, (i) all Lease Payments, ----------------- Casualty Payments, Retainable Deposits and Termination Payments in respect of such Lease, (ii) all rights under any Lease Guarantees with respect to such Lease, (iii) all rights and interests in any collateral with respect to such Lease, including any security deposit (whether or not such security deposit shall have become a Retainable Deposit) and any security interest in the Equipment securing the obligations of the related Lessee under such Lease, and (iii) all other amounts due or becoming due with respect to such Lease or any of the foregoing, except Maintenance Charges and Excess Copy Charges. Related Person - any Person (whether or not incorporated) which is -------------- under common control with the Originator or the Seller within the meaning of Section 414(c) of the Internal Revenue Code of 1986, as amended, or of Section 4001(b) of ERISA. Reportable Event - any of the events set forth in Section 4043(c) of ---------------- ERISA or the regulations thereunder, a withdrawal from a Pension Plan described in Section 4063 of ERISA, or a cessation of operations described in Section 4062(e) of ERISA. Required Financing Statements - Financing Statements filed in the ----------------------------- appropriate UCC filing offices in the Filing States (i) naming the Originator as debtor and the Seller as secured party and the Originator Collateral as the collateral, (ii) naming the Seller as debtor, the Issuer as secured party, the Trustee as assignee and the Seller Collateral as the collateral, and (iii) naming the Issuer as debtor and the Trustee as secured party and the assets comprising the Asset Pool as the collateral.

Purchase Obligation means the Charterers’ obligation to purchase the Vessel at the applicable Purchase Obligation Price in accordance with Clause 56 (Purchase Obligation and transfer of title).

Purchase Obligation means the purchase obligation of the Sub-Charterers in accordance with the terms of the Acquisition Agreement;

Purchase Obligation. An obligation of the Depositor or the Seller to repurchase Loans under the circumstances and in the manner provided in Section 2.3.