Initial Purchase. On the Initial Closing Date, subject to satisfaction of the conditions specified in Article VI and the First Step Initial Receivables Assignment (and, in any event, immediately prior to consummation of the related transactions contemplated by the Further Transfer and Servicing Agreements, if any), the Seller shall sell, transfer, assign and otherwise convey to XXXX, without recourse:
Initial Purchase. In consideration for the Initial Purchased Property, XXXX shall, on the Initial Closing Date, pay to the Seller an amount equal to the Initial Aggregate Receivables Principal Balance in respect of the Initial Receivables and the Seller shall execute and deliver to XXXX an assignment in the form attached hereto as Exhibit A (the “First Step Initial Receivables Assignment”). The Initial Aggregate Receivables Principal Balance is equal to $1,072,399,400.83. A portion of the Initial Aggregate Receivables Principal Balance shall be paid to the Seller in immediately available funds and the balance of such purchase price shall be paid through one or both of (a) an increase in the amount owing from XXXX to Seller under the Intercompany Advance Agreement (as a result of an advance made thereunder from Seller to XXXX) and (b) an increase in Seller’s capital account in XXXX (as a result of a deemed capital contribution from the Seller to XXXX). The amount advanced under the Intercompany Advance Agreement and the amount of the deemed capital contribution shall be duly recorded by the Seller and XXXX.
Initial Purchase. The sale and purchase of the Initial Receivables shall take place at the offices of Xxxxxxxx & Xxxxx LLP, 000 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, on the Initial Closing Date at a time mutually agreeable to the Seller and XXXX, and will occur simultaneously with the closing of transactions contemplated by the Further Transfer and Servicing Agreements.
Initial Purchase. The Seller shall give the Purchaser at least one Business Day’s notice of its request for the initial Purchase hereunder, which request shall specify the date of such Purchase (which shall be a Business Day) and the proposed Purchase Price for such Purchase. On the date of such Purchase, the Purchaser shall, upon satisfaction of the applicable conditions set forth in Article III, pay the Purchase Price for such Purchase in the manner provided in Section 2.02(c).
Initial Purchase. The obligations of the Buyers (and the Administrative Agent on the Buyers’ behalf) to make the initial purchase under this Agreement are subject to the Seller’s fulfillment of the following conditions precedent:
Initial Purchase. The initial Purchase Tranche contemplated hereunder shall be closed and funded simultaneous with the execution of this Agreement by Lender, Assignee and Borrower.
Initial Purchase. On the IPO Effective Date, after giving effect to the Contribution, IBG Holdings shall sell 40,000,000 IBG LLC Shares to IBGI (the “Initial Purchase”) for an aggregate consideration consisting of: (a) the sum of $1,177,892,000, such amount to be paid out of the net proceeds of the IPO, and (b) an amount equal to the tax benefits to be realized by IBGI over time, in accordance with the Tax Receivable Agreement, in connection with the Initial Purchase. IBGI shall pay the cash consideration set forth in clause (a) above on the IPO Date by wire transfer of immediately available funds to an account designated in writing by IBG Holdings. Upon completion of the Initial Purchase, the Contribution with respect to the IBG LLC membership interests held by Xxxxxx Xxxxxxxx individually shall be consummated, IBG LLC shall admit IBGI as its sole managing member pursuant to the IBG LLC Operating Agreement, and the books and records of IBG LLC shall be updated to reflect the Initial Purchase.
Initial Purchase. On the terms and conditions set forth in the Initial Series 2013-B Supplement, HVF II issued, and caused the Trustee to authenticate, the initial Series 2013-B Notes on the Series 2013-B Closing Date. Such Series 2013-B Notes for each Investor Group:
Initial Purchase. On the date of this Agreement, upon the satisfaction of the conditions set forth in Sections 7(I) and 8(I) hereof, the Company shall issue and sell to the Investor and the Investor shall purchase from the Company (such purchase, the “Initial Purchase”) One Million Seven Hundred Eighty-Five Thousand Seven Hundred Fifteen (1,785,715) Purchase Shares (collectively, the “Initial Purchase Shares”) for aggregate consideration of Two Hundred Fifty Thousand Dollars ($250,000) (the “Initial Purchase Amount”).
Initial Purchase. (a) The Company agrees to sell and the Investors agree to purchase that number of shares of Common Stock (the "Initial Shares") determined by dividing the $1,000,000 by the Purchase Price for the Initial Shares on the Subscription Date. The Initial Shares will be subject to repricing as described in Section 2.9 herein.
