Common use of Frequency of Computation of Undivided Interest Clause in Contracts

Frequency of Computation of Undivided Interest. Each Undivided Interest shall be initially computed as of the opening of business of Servicer on the date of Purchase of such Undivided Interest from Seller (it being understood that such computation will be made from information as of the most recent Month End Date or, for the initial Settlement Period, such other date as is acceptable to the Administrative Agent). Thereafter until such Undivided Interest shall be reduced to zero, such Undivided Interest shall be deemed to be automatically recomputed as of the close of business of Servicer on each day, and such Undivided Interest shall constitute the percentage ownership interest in Pool Receivables on such date held by the Purchasers. Such Undivided Interest shall become zero at such time as the Purchasers shall have received the Earned Discount for such Undivided Interest, shall have recovered the related Purchasers' Investment and shall have received all other amounts payable to the Purchasers pursuant to this Agreement with respect to such Undivided Interest, and Servicer shall have received the accrued Servicer's Fee for such Undivided Interest. Such Undivided Interest shall remain constant from the time as of which any such computation or recomputation is made until the time as of which the next such recomputation, if any, shall be made.

Frequency of Computation of Undivided Interest. Each Undivided Interest shall be initially computed as of the opening of business of Servicer on the date of Purchase of such Undivided Interest from Seller (it being understood that such computation will be made from information as of the most recent Month End Date or, for the initial Settlement Period, such other date as is acceptable to the Administrative Agent)Sellers. Thereafter until such Undivided Interest shall be reduced to zero, such Undivided Interest shall be deemed to be automatically recomputed as of the close of business of Servicer on each day, and such Undivided Interest shall constitute the percentage ownership interest in Pool Receivables on such date held by the Agent, on behalf of its Purchasers, with respect to such Undivided Interest. Such Undivided Interest shall become zero at such time as the Purchasers shall have received the Earned Discount for such Undivided Interest in the Approved Currency of such Undivided Interest, shall have recovered the related Purchasers' Investment Investments in the Approved Currency of such Undivided Interest and shall have received all other amounts payable to the Purchasers pursuant to this Agreement with respect to such Undivided InterestAgreement, and Servicer shall have received the accrued Servicer's Fee for such Undivided Interest. Such Undivided Interest shall remain constant from the time as of which any such computation or recomputation is made until the time as of which the next such recomputation, if any, shall be made.

Frequency of Computation of Undivided Interest. Each Undivided Interest shall be initially computed as of the opening of business of Servicer on the date of Purchase of such Undivided Interest from Seller (it being understood that such computation will be made from information as of the most recent Month End Date or, for the initial Settlement Period, such other date as is acceptable to the Administrative Agent)Seller. Thereafter until such Undivided Interest shall be reduced to zero, such Undivided Interest shall be deemed to be automatically recomputed as of the close of business of Servicer on each day, and such Undivided Interest shall constitute the percentage ownership interest in Pool Receivables on such date held by the PurchasersPurchaser with respect to such Undivided Interest. Such Undivided Interest shall become zero at such time as the Purchasers Purchaser shall have received the Earned Discount for such Undivided Interest, shall have recovered the related Purchasers' Purchaser's Investment of such Undivided Interest and shall have received all other amounts payable to the Purchasers Purchaser pursuant to this Agreement with respect to such Undivided InterestAgreement, and Servicer shall have received the accrued Servicer's Fee for such Undivided Interest. Such Undivided Interest shall remain constant from the time as of which any such computation or recomputation is made until the time as of which the next such recomputation, if any, shall be made.

Frequency of Computation of Undivided Interest. Each Undivided Interest shall be initially computed as of the opening of business of Servicer on the date of Purchase of such Undivided Interest from Seller (it being understood that such computation will be made from information as of the most recent Month End Date or, for the initial Settlement Period, such other date as is acceptable to the Administrative Agent)Seller. Thereafter until such Undivided Interest shall be reduced to zero, such Undivided Interest shall be deemed to be automatically recomputed as of the close of business of Servicer on each day, and such Undivided Interest shall constitute the percentage ownership interest in Pool Receivables on such date held by the Agent, on behalf of the Purchasers, with respect to such Undivided Interest. Such Undivided Interest shall become zero at such time as the Purchasers shall have received the Earned Discount for such Undivided Interest in the Approved Currency of such Undivided Interest, shall have recovered the related Purchasers' Investment Investments in the Approved Currency of such Undivided Interest and shall have received all other amounts payable to the Purchasers pursuant to this Agreement with respect to such Undivided InterestAgreement, and Servicer shall have received the accrued Servicer's Fee for such Undivided Interest. Such Undivided Interest shall remain constant from the time as of which any such computation or recomputation is made until the time as of which the next such recomputation, if any, shall be made.