Common use of Deemed Collections; Repurchase Clause in Contracts

Deemed Collections; Repurchase. If it is determined that Seller is obligated to Buyer or its designee any amounts with respect to any Deemed Collections or repurchase amounts arising pursuant to Section 4.2 hereunder, Seller will, within two (2) Business Days of such determination, pay such amounts to the Segregated Account. Seller shall also pay promptly to the Segregated Account upon demand any reasonable out-of-pocket expenses incurred by Buyer or KBC in connection with any such Deemed Collection or repurchase, including reasonable fees and disbursements of counsel. All payments under this Section 8.1.7 shall be paid by Seller in immediately available funds directly to the Segregated Account, without any withholding, deduction, set-off or counterclaim.

Deemed Collections; Repurchase. If it is determined that Seller is obligated to Buyer or its designee assignee any amounts with respect to any Deemed Collections or repurchase amounts arising pursuant to Section 4.2 hereunder, Seller will, within two (2) Business Days of such determination, pay such amounts to the Segregated Account. Seller shall also pay promptly to the Segregated Account upon demand any reasonable out-of-pocket expenses incurred by Buyer or KBC Lender in connection with any such Deemed Collection or repurchase, including reasonable fees and disbursements of counsel. All payments under this Section 8.1.7 shall be paid by Seller in immediately available funds directly to the Segregated Account, without any withholding, deduction, set-off or counterclaim.

Deemed Collections; Repurchase. If it is determined that Seller is obligated to Buyer or its designee any amounts with respect to any Deemed Collections or repurchase amounts arising pursuant to Section 4.2 hereunder, Seller will, within two (2) Business Days of such determination, pay such amounts to the Segregated Account. Seller shall also pay promptly to the Segregated Account upon demand any reasonable out-of-pocket expenses incurred by Buyer or KBC Lender in connection with any such Deemed Collection or repurchase, including reasonable fees and disbursements of counsel. All payments under this Section 8.1.7 shall be paid by Seller in immediately available funds directly to the Segregated Account, without any withholding, deduction, set-off or counterclaim.