Purchased Amount definition

Purchased Amount means, with respect to any Purchased Receivable, the unpaid principal balance owed by the Obligor thereon plus interest on such amount at the applicable APR accrued to and including the last day of the Collection Period preceding the date that such Purchased Receivable was purchased by the Seller or the Servicer, as applicable.

Purchased Amount is the amount identified above and refers to the total amount of Future Receipts that Seller shall be under obligation to deliver to Buyer pursuant to this Agreement.

Purchased Amount means, at any time, an amount equal to (a) the aggregate Purchase Price, minus (b) the aggregate amount paid to WFBC hereunder on account of Purchased Accounts and Related Rights, net of all fees, interest, expenses and costs hereunder.

Examples of Purchased Amount in a sentence

• Seller hereby acknowledges that it fully understands that: (i) Buyer’s ability to collect the Purchased Amount (or any portion thereof) is contingent upon Seller’s continued operation of its business and successful generation of the Future Receipts until the Purchased Amount is delivered to Buyer in full; and (ii) that in the event of decreased efficiency or total failure of Seller’s business, Buyer’s receipt of the full or any portion of the Purchased Amount may be delayed indefinitely.

• Buyer reserves the right to apply amounts received by it under this Agreement to any fees or other charges due to Buyer from Seller prior to applying such amounts to reduce the outstanding undelivered balance of the Purchased Amount.

• Subject to the provisions of Sections 10-13 hereof, the term of this Agreement shall commence on the Effective Date and terminate on the earlier of: (i) the date (the “Termination Date”) when the Purchased Amount and all other sums due to Buyer pursuant to this Agreement are received by Buyer in full; and (ii) when Seller’s performance has been excused pursuant to Section 16(b).

• The Purchased Amount shall be delivered by Seller to Buyer in the amount of the Remittance Amount (subject adjustment as described below) at the end of each Remittance Period, commencing on the Effective Date and ending on the Termination Date.

• Seller hereby sells, assigns, transfers and conveys (hereinafter, the “Sale”) unto Buyer all of Seller’s right, title and interest in to the Specified Percentage of the Future Receipts until the Purchased Amount shall have been delivered by Seller to Buyer (hereinafter, the portion of the Future Receipts sold by Seller to Buyer pursuant to this Agreement, the “Purchased Future Receipts”); to have and hold the same unto Buyer, its successors and assigns, forever.

More Definitions of Purchased Amount

Purchased Amount the total amount of the Specified Percentage of the Future Receipts that the Seller shall be under obligated to deliver and pay to the Purchaser;

Purchased Amount means the amount designated as such in clause 7 of the "Sale and Purchase Agreement", which is the amount of the Merchant's Future Receivables, which it has sold to Retail Capital.

Purchased Amount means the monetary value of the Future Receivables being sold by Seller to Buyer. The Parties acknowledge, understand, and agree that the Purchased Amount shall be in the dollar amount shown in the “SUMMARY OF KEY FINANCIAL TERMS” on Page 1 of this Agreement.

Purchased Amount means, at any time, an amount equal to (a) the aggregate purchase price paid by WFBC for the Purchased Accounts and the Related Rights, minus (b) the aggregate amount paid to WFBC hereunder on account of Purchased Accounts and Related Rights, net of all fees, interest, expenses and costs hereunder, plus (c) all amounts which at any time must be returned for any reason to the Customer by WFBC.

Purchased Amount for each Purchaser means at any time with respect to Pool A or Pool B, as the case may be, (i) the sum of the Purchase Price paid by such Purchaser to the Seller with respect to all New Purchases from such Pool, less (ii) the aggregate amount of Collections actually distributed to and received by such Purchaser in respect of its Receivables Ownership Interest in such Pool pursuant to clause (vi) or clause (vii), as the case may be, of Section 2.6; provided, however, that the amount of Collections set forth in clause (ii) above shall not include any portion of Collections which at any time must be disgorged by the applicable Purchaser or otherwise returned for any reason whatsoever.

Purchased Amount has the meaning provided in Section 2.04(b).

Purchased Amount means the amount obtained by dividing the Aggregate Purchase Price by the Stated Value; (b) “Aggregate Purchase Price” shall mean Ten Million Dollars($10,000,000.00); which amount approximates the sum of (i) the total amount of Net Cash Consideration (as such term is defined in the Merger Agreement) payable pursuant to Section 3.1(a)(iii)(1) of the Merger Agreement (prior to the deduction of the Stockholder Representative Reserve (as such term is defined in the Merger Agreement)), (ii) the total amount of cash that the Company elects to pay pursuant to Section 3.1(a)(iii)(2) of the Merger Agreement, and (iii) the Note Obligation (as such term in defined in the Merger Agreement); and (c) “Conversion Price” means an amount equal to $0.6889.