Purchased Interest definition

Purchased Interest means, at any time, the undivided percentage ownership interest of the Purchasers in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage ownership interest shall be computed as:

Purchased Interest means, at any time, the undivided percentage ownership interest in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage interest shall be computed as:

Purchased Interest means the interest in the Receivables acquired by the Liquidity Provider through purchase pursuant to the terms of the Liquidity Provider Agreement.

Examples of Purchased Interest in a sentence

• Purchaser accepts the risk of loss with respect to the Purchased Interest.

• The sale and assignment of the Purchased Interest is an absolute assignment and not a loan secured by collateral assignment of the Purchased Interest.

• Seller has not, and shall not, directly or indirectly, in any manner, delay, seek to prevent, impair or frustrate the rights granted to Purchaser under this Purchase Agreement or payment of the Purchased Interest sold to Purchaser.

• Seller agrees to treat and report the sale and purchase of the Purchased Interest as a sale transaction and not as a loan for all purposes (including tax purposes).

• If Seller commences or has commenced against it any case or other proceedings pursuant to any bankruptcy, insolvency or similar law prior to payment of the full Ownership Amount to Purchaser, Seller shall cause the Purchased Interest to be described as an asset of Purchaser (and not as debt obligation of Seller) in any oral or written communications, including, without limitation, any schedule or other document filed in connection with such case or proceeding.

More Definitions of Purchased Interest

Purchased Interest means, at any time, the undivided percentage ownership interest of the Purchasers in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage ownership interest shall be computed as: Aggregate Capital + Adjusted LC Participation Amount + Total Reserves Net Receivables Pool Balance The Purchased Interest shall be determined from time to time pursuant to Section 1.3 of this Agreement.

Purchased Interest has the meaning specified in Section 2.1.

Purchased Interest has the meaning provided such term in the recitals of this Agreement.

Purchased Interest. The interest in the Note acquired by the Liquidity Provider, if any.

Purchased Interest shall have the meaning assigned to such term in Section 5.1.

Purchased Interest has the meaning set forth in the SPSA.

Purchased Interest has the meaning assigned to such term in Section 11.3(a).