Incremental Commitment. (a) The Seller may at any time and from time to time after the Effective Date, by notice to the Purchaser (an “Incremental Commitment Request”), request that the Annual Commitment Amount and the Applicable Purchase Target be increased. Each Incremental Commitment Request shall set forth the requested amount of the new Annual Commitment Amount and the requested amount of the Applicable Purchase Target. The Purchaser shall, by notice to the Seller, by no later than twenty (20) Business Days after the date of the Seller’s Incremental Commitment Request, either agree to increase the Annual Commitment Amount and the Applicable Purchase Target or decline to increase the Annual Commitment Amount and the Applicable Purchase Target. If the Purchaser does not deliver such notice within such period of twenty (20) Business Days, the Purchaser shall be deemed to have declined to increase the Annual Commitments and the Applicable Purchase Target. Any portions of the requested increase in the Annual Commitment Amount declined (or deemed declined) may be offered by the Seller to any Person selected by the Seller in its sole discretion.
Appears in 2 contracts
Sources: Master Purchase and Sale Agreement (Harley-Davidson, Inc.), Master Purchase and Sale Agreement (Harley-Davidson, Inc.)
Incremental Commitment. (a) The Seller may at any time and from time to time after the Effective Date, by notice to the Purchaser (an “Incremental Commitment Request”), request that the Annual Commitment Amount and the Applicable Purchase Target be increased. Each Incremental Commitment Request shall set forth the requested amount of the new Annual Commitment Amount and the requested amount of the Applicable Purchase Target. The Purchaser shall, by notice to the Seller, by no later than twenty (20) Business Days after the date of the Seller’s Incremental Commitment Request, either agree to increase the Annual Commitment Amount and the Applicable Purchase Target or decline to increase the Annual Commitment Amount and the Applicable Purchase Target. If the Purchaser does not deliver such notice within such period of twenty (20) Business Days, the Purchaser shall be deemed to have declined to increase the Annual Commitments CommitmentsCommitment Amount and the Applicable Purchase Target. Any portions of the requested increase in the Annual Commitment Amount declined (or deemed declined) may be offered by the Seller to any Person selected by the Seller in its sole discretion.
Appears in 2 contracts
Sources: Second Amendment to Purchase Agreements, First Amendment to Servicing Agreement, and Waiver With Respect to Back Book Purchase Agreement (Harley-Davidson, Inc.), Master Purchase and Sale Agreement (Harley-Davidson, Inc.)