Finco Request for Xxxxase Sample Clauses

Finco Request for Xxxxase. Finco intends from time to time to sell Xxxxxased Contracts and othxx xxlated Collateral (x) to entities which will then privately or publicly sell securities backed by such Purchased Contracts and Collateral or (y) in whole loan bulk sales to Onyx Acceptance Corporation or, with the prior written consent of the Surety Provider, unaffiliated third parties, in each case, for a cash purchase price of not less than the aggregate Outstanding Balance of such Purchased Contracts plus accrued and unpaid interest thereon and other unpaid Finance Charges with respect thereto. The proceeds of all sales by Finco pursuant to clauses (x) and (y) above shall be applied first, xx xrepay the Triple-A One Note in an amount such that no Borrowing Base Deficiency exists after giving effect to such sale and such prepayment, second, to pay all amounts owing to the Surety Provider, Triple-A One, the Collateral Agent and the Program Manager, and third, to prepay the Subordinated Note. Upon not less than five (5) Business Days' prior written notice to the Seller, Finco may request that specified Purchased Contracts and other relaxxx Xollateral be released in connection with such sales and the prepayment. In connection with such request, Finco shall execute and deliver to the Seller a Lien Release Requesx Xxxtificate in the form attached hereto as Exhibit A. In selecting the Purchased Contracts enumerated in its Lien Release Request Certificate delivered to the Seller pursuant hereto, Finco shall employ selection procedures which are not adverse to thx xxxerests of the Seller.
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Related to Finco Request for Xxxxase

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