Common use of Construction of the Agreement Clause in Contracts

Construction of the Agreement. The parties hereto intend that the conveyance of the interest in the Purchased Receivables by the Seller to the Purchaser shall be treated as sales for purposes of generally accepted accounting principles. If, despite such intention, a determination is made that such transactions shall not be treated as sales, then this Agreement shall be interpreted to constitute a security agreement and the transactions effected hereby shall be deemed to constitute a secured financing by the Purchaser to the Seller under applicable law. For such purpose, the Seller hereby grants to the Purchaser a continuing security interest in the Purchased Receivables and the Related Security and Collections related thereto to secure the obligations of the Seller to the Purchaser hereunder.

Construction of the Agreement. The parties hereto intend that the conveyance of the interest in the Purchased Receivables by the Seller to the Purchaser shall be treated as sales for purposes of generally accepted accounting principles. If, despite such intention, a determination is made that such transactions shall not be treated as sales, then this Agreement shall be interpreted to constitute a security agreement and the transactions effected hereby shall be deemed to constitute a secured financing by the Purchaser to the Seller under applicable law. For such purpose, the Seller hereby grants to the Purchaser a continuing security interest in the Purchased Receivables listed on the Schedule of Contracts and the Related Security and Collections related thereto to secure the obligations of the Seller to the Purchaser hereunder.

Construction of the Agreement. The parties hereto intend that the conveyance of the interest Ownership Interests in the Purchased Receivables by the Seller to the Purchaser Bank Purchasers shall be treated as sales for purposes of generally accepted accounting principlesall purposes. If, despite such intention, a determination is made that such transactions shall not be treated as sales, then this Agreement shall be interpreted to constitute a security agreement and the transactions effected hereby shall be deemed to constitute a secured financing loans by the Purchaser Bank Purchasers to the Seller under applicable law. For such purpose, the Seller hereby grants to the Purchaser Administrative Agent, for the benefit of the Bank Purchasers, a continuing security interest in the Purchased Receivables and the Related Security and Collections related thereto to secure the repayment of the Investment of each Bank Purchaser and the payment and performance of the obligations of the Seller to the each Bank Purchaser hereunder.

Construction of the Agreement. The parties hereto intend that the conveyance of the interest in the Purchased Receivables by the Seller to the Purchaser Purchasers shall be treated as sales for purposes of generally accepted accounting principles. If, despite such intention, a determination is made that such transactions shall not be treated as sales, then this Agreement shall be interpreted to constitute a security agreement and the transactions effected hereby shall be deemed to constitute a secured financing by the Purchaser Purchasers to the Seller under applicable law. For such purpose, the Seller hereby grants to the Purchaser Purchasers a continuing security interest in the Purchased Receivables listed on the Schedule of Contracts and the Related Security and Collections related thereto to secure the obligations of the Seller to the Purchaser Purchasers hereunder.

Construction of the Agreement. The parties hereto intend that the conveyance of the interest Ownership Interest in the Purchased Receivables by the Seller to the Purchaser Purchasers shall be treated as sales for purposes of generally accepted accounting principles. If, despite such intention, a determination is made that such transactions shall not be treated as sales, then this Agreement shall be interpreted to constitute a security agreement and the transactions effected hereby shall be deemed to constitute a secured financing by the Purchaser Purchasers to the Seller under applicable law. For such purpose, the Seller hereby grants to the Purchaser Administrative Agent for the benefit of the Purchasers a continuing security interest to the extent of such Ownership Interest in the Purchased Receivables and the Related Security and Collections related thereto to secure the obligations of the Seller to the Purchaser Purchasers hereunder.

Construction of the Agreement. The parties hereto intend that the conveyance of the interest in the Purchased Receivables by the Seller to the Purchaser shall be treated as sales for purposes of generally accepted accounting principles. If, despite such intention, a determination is made that such transactions shall not be treated as sales, then this Agreement shall be interpreted to constitute a security agreement and the transactions effected hereby shall be deemed to constitute a secured financing by the Purchaser to the Seller under applicable law. For such purpose, the Seller hereby grants to the Purchaser a continuing security interest in the Purchased Receivables and the Related Security and Collections related thereto to secure the obligations obligation of the Seller to the Purchaser hereunder.