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.

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

• If any Underwriter so advises the Manager, the Manager may allocate any such purchases, sales and over-allotments (and the related expenses) which otherwise would have been allocated to your account based on your respective Underwriting Percentage to your account based on the ratio of your Original Purchase Obligation to the Original Purchase Obligations of all Underwriters other than the advising Underwriter or Underwriters or in such other manner as the Manager shall determine.

• Each party hereto acknowledges and agrees that it shall not be a condition precedent to the Purchase Obligation that any seller of VRDP Shares demonstrate or account for any loss.

• If the amount of Contract Securities attributable to an Underwriter pursuant to Section 4.1 would exceed such Underwriter's Original Purchase Obligation reduced by the amount of Underwriters' Securities sold by or on behalf of such Underwriter, such excess shall not be attributed to such Underwriter, and such Underwriter shall be regarded as having acted only as a Dealer with respect to, and shall receive only the concession to Dealers on, such excess.

• Each Holder and Beneficial Owner, by virtue of acquiring shares of a Series of VRDP Shares, is deemed to have agreed to treat the Purchase Obligation as part of the VRDP Shares rather than as a separate property right.

• The obligations of the Liquidity Provider to purchase VRDP Shares pursuant to this Agreement shall run to the benefit of those beneficiaries identified in Section 7.10 and the Purchase Obligation evidenced hereby shall not be transferable except in connection with a transfer of VRDP Shares or any beneficial interest therein, whereupon the Purchase Obligation shall automatically run to the benefit of the transferee.

More Definitions of Purchase Obligation

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 shares of a Series of 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 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. An obligation of the Depositor to repurchase Loans under the circumstances and in the manner provided in Section 2.2 or Section

Purchase Obligation means an agreement to purchase goods or services that is enforceable and legally binding

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.