Common use of Commitments to Purchase; Limits on Purchasers’ Obligations Clause in Contracts

Commitments to Purchase; Limits on Purchasers’ Obligations. Upon the terms and subject to the conditions of this Agreement (including, without limitation, Article V), from time to time during the Revolving Period, the Seller may request that the Purchaser purchase from the Seller ownership interests in Pool Receivables and Related Assets, and the Purchaser shall make such purchase (each being a "PURCHASE"); PROVIDED THAT no Purchase shall be made by the Purchaser if, after giving effect thereto, either (a) the Invested Amount would exceed $55,000,000 (as adjusted pursuant to Section 3.2(b)) (the "PURCHASE LIMIT"), or (b) the Asset Interest, expressed as a percentage of Net Pool Balance, would exceed 100%; and provided, further that (i) each Purchase made pursuant to this Section 1.1 shall have a purchase price equal to at least $10,000, (ii) Purchases made pursuant to this Section 1.1 shall occur on Settlement Dates and on up to two (2) additional Business Days in any Settlement Period, and (iii) the number of Purchases pursuant to this Section 1.1 and Aggregate Reductions pursuant to Section 3.2(b) shall not exceed, in the aggregate, three (3) in any Settlement Period (or two (2) in any Settlement Period in which at least one of such Purchases or one of such Aggregate Reductions does not occur on the applicable Settlement Date).

Commitments to Purchase; Limits on Purchasers’ Obligations. Upon the terms and subject to the conditions of this Agreement (including, without limitation, Article V), from time to time during prior to the Revolving PeriodTermination Date, the Seller may request that the Purchaser purchase from the Seller ownership interests in Pool Receivables and Related Assets, and the Purchaser shall make such purchase (each being a "PURCHASEPurchase"); PROVIDED THAT provided that no Purchase shall be made by the Purchaser if, after giving effect thereto, either (a) the sum of (i) the then Invested Amount and (ii) the aggregate of the CP Discounts of all Commercial Paper Notes then outstanding would exceed $55,000,000 190,000,000 (as adjusted pursuant to Section 3.2(b3.02(b)) (the "PURCHASE LIMITPurchase Limit"), or (b) the Asset Interest, expressed as a percentage of Net Pool Balance, would exceed 100%% (the "Allocation Limit"); and provided, further that (i) each Purchase made pursuant to this Section 1.1 shall have a purchase price equal to at least $10,0001,000,000 and shall be an integral multiple of $100,000 and shall, (ii) Purchases made pursuant to this Section 1.1 shall occur on Settlement Dates and on up to two (2) additional Business Days if applicable, be an amount discounted from the amount requested in any Settlement Period, and (iii) the number notice of Purchases pursuant to this Section 1.1 and Aggregate Reductions proposed Purchase delivered pursuant to Section 3.2(b1.2(a) shall not exceed, in by the aggregate, three (3) in any Settlement Period (or two (2) in any Settlement Period in which at least one aggregate of the CP Discounts of all Commercial Paper Notes issued to fund such Purchases or one of such Aggregate Reductions does not occur on the applicable Settlement Date)Purchase.