Common use of Collections Prior to the Facility Termination Date Clause in Contracts

Collections Prior to the Facility Termination Date. (a) Prior to the Facility Termination Date, any Deemed Collections received by Servicer and the Purchasers' Portion of any Collections received by Servicer shall be set aside by Servicer for the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment as provided in this Section 2.2. If at any time any Collections are received by Servicer prior to the Facility Termination Date, except to the extent a Reduction Notice is pending, Seller hereby requests that the applicable Purchaser(s) make, and either Blue Ridge or the Liquidity Banks shall make, simultaneously with such receipt, a reinvestment (each, a "REINVESTMENT") with the Purchasers' Portion of the balance of each and every Collection received by such Servicer such that after giving effect to such Reinvestment, the Invested Amount of such Receivable Interest immediately after such receipt and corresponding Reinvestment shall be equal to the amount of Invested Amount immediately prior to such receipt.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Wolverine Tube Inc)

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Collections Prior to the Facility Termination Date. (a) Prior to the Facility Termination Date, Blue Ridge's Portion of any Deemed Collections received by the Servicer and the Purchasers' Blue Ridge's Portion of any Collections received by the Servicer shall be set aside and held in trust by the Servicer for the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment as provided in this Section 2.2. If at any time any Collections are received by the Servicer prior to the Facility Termination Date, except to the extent a Reduction Notice is pending, Seller hereby requests that the applicable Purchaser(s) make, and either Blue Ridge or the Liquidity Banks shall hereby agrees to make, simultaneously with such receipt, a reinvestment by payment of the Purchase Price under the Receivables Sale Agreement (each, a "REINVESTMENTReinvestment") with the Purchasers' Blue Ridge's Portion of the balance of each and every Collection received by such the Servicer such that after giving effect to such Reinvestment, the Invested Amount of such Receivable Interest immediately after such receipt and corresponding Reinvestment shall be equal to the amount of Invested Amount immediately prior to such receipt.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Arch Chemicals Inc)

Collections Prior to the Facility Termination Date. (a) Prior to During the Facility Termination DateRevolving Period, any Deemed Collections received by the Servicer and the Purchasers' Blue Ridge's Portion of any Collections received by the Servicer shall be set aside and held in trust by the Servicer for the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment as provided in this Section 2.2. If at any time any Collections are received by the Servicer prior to during the Facility Termination Date, except to the extent a Reduction Notice is pendingRevolving Period, Seller hereby requests that and the applicable Purchaser(s) make, Purchaser and either Blue Ridge or the Liquidity Banks shall makeCommitted Investors each hereby agree to make subject to the terms and conditions set forth in the Agreement, simultaneously with such receipt, a reinvestment (each, a "REINVESTMENTReinvestment") with the Purchasers' Blue Ridge's Portion of the balance of each and every Collection received by such the Servicer such that after giving effect to such Reinvestment, the Invested Amount of such Receivable Interest immediately after such receipt and corresponding Reinvestment shall be equal to the amount of Invested Amount immediately prior to such receipt.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Airborne Inc /De/)

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Collections Prior to the Facility Termination Date. (a) Prior to the Facility Termination Date, TPF’s Portion of any Deemed Collections received by the Servicer and the Purchasers' TPF’s Portion of any Collections received by the Servicer shall be set aside and held in trust by the Servicer for the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment as provided in this Section 2.2. If at any time any Collections are received by the Servicer prior to the Facility Termination Date, except to the extent a Reduction Notice is pending, Seller hereby requests that the applicable Purchaser(s) make, and either Blue Ridge or the Liquidity Banks shall TPF hereby agrees to make, simultaneously with such receipt, a reinvestment by payment of the Purchase Price under the Receivables Sale Agreement (each, a "REINVESTMENT"“Reinvestment”) with the Purchasers' TPF’s Portion of the balance of each and every Collection received by such the Servicer such that after giving effect to such Reinvestment, the Invested Amount of such Receivable Interest immediately after such receipt and corresponding Reinvestment shall be equal to the amount of Invested Amount immediately prior to such receipt.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Arch Chemicals Inc)

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