Common use of Dilutions, Etc Clause in Contracts

Dilutions, Etc. The Seller agrees that if, on any day, the Outstanding Balance of a Receivable an interest in which has been sold by the Seller hereunder is either reduced or adjusted as a result of defective, or rejected Vehicles or otherwise, or any setoff by the Obligor against BusLease or the Seller shall occur with respect thereto, the Seller shall be deemed to have received on such day a Collection of such Receivable in the amount of such reduction, adjustment or setoff and shall on such day pay to the Purchaser in immediately available funds an amount equal to such reduction, adjustment or setoff.

Dilutions, Etc. The Seller agrees that if, on any day, the Outstanding Balance of a Receivable an interest in which has been sold by the Seller hereunder is either reduced or adjusted as a result of defective, or rejected Vehicles or otherwise, or any setoff by the Obligor against BusLease or the Seller shall occur with respect thereto, the Seller shall be deemed to have received on such day a Collection of such Receivable in the amount of such reduction, adjustment or setoff and shall on such day pay to the Purchaser in immediately available funds an amount equal to such reduction, adjustment or setoff.