Purchaser Interests definition

Purchaser Interests has the meaning assigned to such term in the definition of "Receivables Purchase Facility" contained in this Section 1.01.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Purchaser Interests means membership interests of Purchaser.

Purchaser Interests has the meaning set forth in the recitals hereto.

Examples of Purchaser Interests in a sentence

• Seller shall ensure that the Purchaser Interests of the Purchasers shall at no time exceed in the aggregate 100%.

• Seller desires to transfer and assign Purchaser Interests to the Purchasers from time to time.

• With respect to the acquisition of Purchaser Interests pursuant to this Agreement, the Agent shall have the same rights and powers under this Agreement in its individual capacity as any Purchaser and may exercise the same as though it were not the Agent, and the terms "Financial Institution," "Purchaser," "Financial Institutions" and "Purchasers" shall include the Agent in its individual capacity.

• Conduit may, in its absolute and sole discretion, purchase Purchaser Interests from Seller from time to time.

• In the event that Conduit declines to make any purchase, the Financial Institutions shall, at the request of Seller, purchase Purchaser Interests from time to time.

• Any Financial Institution may, in the ordinary course of its business at any time sell to one or more Persons (each a “Participant”) participating interests in its Pro Rata Share of the Purchaser Interests of the Financial Institutions in such Financial Institution’s Purchaser Group or any other interest of such Financial Institution hereunder.

• Each Financial Institution’s Commitment hereunder shall be limited to purchasing Purchaser Interests that the Company in such Financial Institution’s Purchaser Group has declined to purchase.

• Upon the terms and subject to the conditions hereof, Seller may, at its option, sell and assign Purchaser Interests to the Agent for the benefit of one or more of the Purchasers.

• If the aggregate of the Purchaser Interests of the Purchasers exceeds 100%, Seller shall pay to the Agent within one (1) Business Day an amount to be applied to reduce the Aggregate Capital (as allocated by the Agent), such that after giving effect to such payment the aggregate of the Purchaser Interests equals or is less than 100%.

• Without limiting the foregoing, each Seller will, upon the request of the Agent or the Required Purchasers, execute and file such financing or continuation statements, or amendments thereto or assignments thereof, and such other instruments and documents, that may be necessary or desirable, or that the Agent may reasonably request, to perfect, protect or evidence such Purchaser Interests.

More Definitions of Purchaser Interests

Purchaser Interests means one hundred percent (100%) of the issued and outstanding Equity Interests of Purchaser as of immediately prior to Closing (before giving effect to the Purchaser Merger and the Purchaser Charter).

Purchaser Interests means the relevant member of the Purchaser Group’s entire legal and beneficial right, title and interest in and under the Purchaser Interest Documents, and any petroleum field, any vessel or equipment which is designed for the exploitation, development, transportation or operation of any of the same, and all present and future interests in any such Purchaser Interest Document, petroleum field, vessel or equipment (including (i) the right to take and receive a consequent share of all petroleum produced under the Purchaser Interest Document on and after the date of this Agreement and to receive the gross proceeds from the sale or other disposition thereof; (ii) a consequent share of the relevant member of the Purchaser Group’s right, title and interest in and to jointly owned funds, jointly owned property and all other assets which are or may be owned pursuant to or under any of the relevant Purchaser Interest Documents; and (iii) all rights, liabilities and obligations under the Purchaser Interest Documents), in each case in which any member of the Purchaser Group has an interest from time to time;

Purchaser Interests means the relevant member of the Purchaser Group’s entire legal and beneficial right, title and interest in any petroleum assets (including exploration rights), under the Purchaser Interest Documents, any petroleum field, and any vessel, facility, pipeline, infrastructure or equipment which is designed for the exploitation, development, transportation or operation of any of the same, and all present and future interests in any such Purchaser Interest Document, petroleum field, vessel, facility, pipeline, infrastructure or equipment (including (i) the right to take and receive a consequent share of all petroleum produced under the Purchaser Interest Document on and after the date of this Agreement and to receive the gross proceeds from the sale or other disposition thereof; (ii) a consequent share of the relevant member of the Purchaser Group’s right, title and interest in and to jointly owned funds, jointly owned property and all other assets which are or may be owned pursuant to or under any of the relevant Purchaser Interest Documents; and (iii) all rights, liabilities and obligations under the Purchaser Interest Documents), in each case in which any member of the Purchaser Group has an interest from time to time;

Purchaser Interests has the meaning ascribed thereto in Section 4.1(z).