Subsequent Purchase Price Payments. On each Payment Date subsequent to the Closing Date, on the terms and subject to the conditions set forth in this Agreement, the Company shall pay to each Originator the Purchase Price for the Receivables generated by such Originator on such Payment Date:
Subsequent Purchase Price Payments. 5 SECTION 3.3 Settlement as to Specific Receivables and Dilution ............. 6 SECTION 3.4 Reconveyance of Receivables .................................... 7
Subsequent Purchase Price Payments. On each Business Day after the Initial Purchase Date on which a Seller sells any Receivables to the Company, until the termination of this Agreement pursuant to Section 10.4 hereof, the Company shall pay to such Seller the Purchase Price of such Receivables (i) by depositing into such account as such Seller shall specify immediately available funds from monies then held by or on behalf of the Company solely to the extent that such monies do not constitute Collections that are required to be identified or are deemed to be held by the Master Servicer pursuant to the Receivables Purchase Agreement or required to be distributed to the Administrator or the Purchaser pursuant to the Receivables Purchase Agreement or required to be paid to the Master Servicer as the Servicer's Fee, or otherwise necessary to pay current expenses of the Company (in its reasonable discretion) (such available monies, the "Available Funds") and provided that such Seller has paid all amounts then due by such Seller hereunder or (ii) by increasing the principal amount owed to such Seller under the Seller Note. The outstanding principal amount owed to any Seller under the Seller Note may be reduced from time to time (i) as provided in Section 3.3 or 3.4 hereof or (ii) by payments made by the Company from Available Funds, provided that such Seller has paid all amounts then due by such Seller hereunder. Each Seller shall make all appropriate record keeping entries with respect to amounts due to such Seller under the Seller Note to reflect payments by the Company thereon and such Seller's books and records shall constitute rebuttable presumptive evidence of the principal amount of and accrued interest owed to such Seller under the Seller Note. The Sellers shall return the Seller Note to the Company upon the final payment of all amounts due to each Seller thereunder after the termination of this Agreement pursuant to Section 9.4 hereof.
Subsequent Purchase Price Payments. On each Payment Date subsequent to the Initial Purchase Date, on the terms and subject to the conditions set forth in this Agreement, the Buyer shall pay to each Originator the Purchase Price for the Receivables and the Related Rights generated by such Originator since the immediately preceding Payment Date in accordance with Section 1.2(b):
Subsequent Purchase Price Payments. 9 3.3. Settlement as to Specific Receivables.................................. 10 3.4. Settlement as to Dilution.............................................. 11 3.5. Reconveyance of Receivables............................................ 12
Subsequent Purchase Price Payments. 7 SECTION 3.3 SETTLEMENT AS TO SPECIFIC RECEIVABLES.................................................................8 SECTION 3.4 SETTLEMENT AS TO DILUTION.............................................................................9 SECTION 3.5 RECONVEYANCE OF RECEIVABLES...........................................................................9
Subsequent Purchase Price Payments. On each Business Day falling after the Closing Date and on or prior to the Purchase and Sale Termination Date, on the terms and subject to the conditions set forth in this Agreement, the Company shall pay to Originator the Purchase Price for the Receivables sold by Originator to the Company on such Business Day, in cash, to the extent provided under SECTION 1.2 of the Receivables Purchase Agreement, and to the extent any of such Purchase Price remains unpaid, such remaining portion of such Purchase Price shall be paid by means of an automatic increase to the outstanding principal amount of the Company Note issued to Originator. Servicer shall make all appropriate record keeping entries with respect to the Company Notes or otherwise to reflect the foregoing payments and to reflect adjustments pursuant to SECTION 3.4, and Servicer's books and records shall constitute rebuttable presumptive evidence of the principal amount of and accrued interest on any Company Note at any time. Furthermore, Servicer shall hold the Company Notes for the benefit of the Originator, and all payments under the Company Notes shall be made to the Servicer for the account of the applicable payee thereof. Originator hereby irrevocably authorizes Servicer to xxxx the Company Notes "CANCELLED" and to return such Company Notes to the Company upon the final payment thereof after the occurrence of the Purchase and Sale Termination Date.
Subsequent Purchase Price Payments. On each Payment Date subsequent to the Closing Date, on the terms and subject to the conditions set forth in this Agreement, the Buyer shall pay to each Originator the Purchase Price for the Receivables and the Related Rights sold by such Originator on such Payment Date in a combination of (a) cash of the Buyer, (b) Letters of Credit and/or (c) proceeds of a borrowing under the Intercompany Loan Agreement.
Subsequent Purchase Price Payments. On each Business Day after the Initial Closing Date until the termination of this Agreement pursuant to SECTION 10.4 hereof, the Initial Purchaser shall pay to each Originator a portion of the Purchase Price due pursuant to SECTION 2.1 by depositing into such account as such Originator shall specify in immediately available funds from monies then held by or on behalf of the Initial Purchaser, solely to the extent that such monies do not constitute Collections that are required to be segregated and held by the Master Servicer pursuant to the Receivables Purchase Agreement or to be distributed to the Administrator pursuant to the Receivables Purchase Agreement on the next Settlement Date or required to be paid to the Master Servicer as the Servicer's Fee on the next Settlement Date, or paid to the Concentration Banks or the Liquidity Banks pursuant to the Receivables Purchase Agreement on the next Settlement Date, or otherwise necessary to pay current expenses of the Initial Purchaser (in its discretion) and provided that such Originator has paid all amounts then owing by it hereunder. The portion of the Purchase Price paid to each Originator shall be adjusted on each Settlement Date by the amount of the difference, if any, between (x) the amount due pursuant to SECTION 2.1 with respect to all Receivables created or originated by such Originator that arose during the corresponding Settlement Period and (y) the amount paid to such Originator during such Settlement Period pursuant to the foregoing sentence for such Receivables. If the amount for any applicable Originator described in CLAUSE (x) is greater than the amount described in CLAUSE (y), the Initial Purchaser shall pay to such applicable Originator the difference by increasing the principal amount outstanding under the Initial Purchaser Note payable to such Originator, effective as of the last day of the related Settlement Period. If the amount for any applicable Originator described in CLAUSE (x) is less than the amount described in CLAUSE (y), such applicable Originator shall pay to the Initial Purchaser the difference by a reduction in the principal amount of the Initial Purchaser Note payable to such Originator, effective as of the last day of the related Settlement Period; PROVIDED, HOWEVER, that if at any time the unpaid principal amount of such Initial Purchaser Note has been reduced to zero, the applicable Originator shall pay the Initial Purchaser the remainder owed with respect thereto in imm...
Subsequent Purchase Price Payments. On each Transfer Effective Date subsequent to the Effective Date, on the terms and subject to the conditions set forth in this Agreement, the Participant shall pay to the Originator the Purchase Price for the Participations being sold by the Originator on such Transfer Effective Date in cash.
