Initial Purchase Price Payment. On the terms and subject to the conditions set forth in this Agreement, the Company agrees to pay to each Originator the Purchase Price for the purchase to be made from such Originator on the Closing Date partially in cash (in an amount to be agreed between the Company and such Originator and set forth in the initial Purchase Report) and partially by issuing a promissory note in the form of Exhibit B to such Originator with an initial principal balance equal to the remaining Purchase Price (each such promissory note, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with all promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Purchase Documents, being herein called a "Company Note").
Initial Purchase Price Payment. 7 SECTION 3.2
Initial Purchase Price Payment. On the terms and subject to the conditions set forth in this Agreement, the Participant agrees to pay to the Originator the Purchase Price in cash for the purchase to be made from the Originator on the Effective Date.
Initial Purchase Price Payment. On the terms and subject to the conditions set forth in this Agreement, the Buyer agrees to pay to each Originator the Purchase Price for the purchase to be made from such Originator on the Closing Date (i) to the extent the Buyer has cash available therefor, partially in cash (in an amount to be agreed between the Buyer and such Originator and set forth in the initial Purchase Report) and (ii) the remainder by issuing a promissory note in the form of Exhibit B to such Originator (each such promissory note, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with all promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, each being herein called a “Subordinated Note”) with an initial principal amount equal to the remaining Purchase Price payable to such Originator not paid in cash.
Initial Purchase Price Payment. On the terms and subject to the conditions set forth in this Agreement, the Buyer agrees to pay to each Originator the Purchase Price for the purchase to be made from such Originator on the Closing Date in cash, which may include the proceeds from time to time drawn under a variable funding note issued by the Buyer, as issuer, on the Closing Date in the form of Exhibit B to such Originator (each such note, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with all notes issued from time to time in substitution therefor or renewal thereof in accordance with the terms hereof and thereof, each being herein called a “Subordinated Note”) with an initial principal amount equal to the remaining Purchase Price payable to such Originator not paid in cash.
Initial Purchase Price Payment. On the terms and subject to the conditions set forth in this Agreement, the Company agrees to pay to the applicable Sellers on the Initial Closing Date (or, in the case of any Additional Seller, on the related Seller Addition Date) the Purchase Price for the purchase to be made by the Company with respect to Receivables existing on the Initial Cut-Off Date or the related Additional Seller Cut-Off Date, as the case may be, (a) in cash in an amount equal to the amount received by the Company in connection with the first Purchase made pursuant to the Receivables Purchase Agreement (provided that if the aggregate of the Purchase Prices exceeds the amount of cash so received by the Company, the Company shall apply such amount of cash ratably among the Purchase Prices payable to such Sellers) and (b) by the issuance of a promissory note in the form of Exhibit B to each Seller (each such promissory note, as it may be amended, supplemented, endorsed or otherwise modified from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being herein called a "Seller Note") in the initial principal amount equal to the remainder of the Purchase Price owing to such Seller on the Initial Closing Date or such Seller Addition Date, as the case may be, after subtracting the amount paid in cash.
Initial Purchase Price Payment. On the terms and subject to the conditions set forth in this Agreement, the Company agrees to pay to each Originator the Purchase Price for the purchase to be made from such Originator on the Closing Date, partially in cash in the amount of the proceeds of the Purchase made by the Purchaser on the Closing Date under the Receivables Purchase Agreement, and partially by issuing a promissory note in the form of Exhibit B to such Originator with an initial principal balance equal to the remaining Purchase Price (as each such promissory note, as it may be amended, supplemented, indorsed or otherwise modified from time to time, together with all promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being herein called a "Company Note").
Initial Purchase Price Payment. (a) On the Closing Date, the Sub-Originator shall, and hereby does, sell to the Buyer, Receivables and Related Rights consisting of each Receivable of the Sub-Originator that exists and is owing to the Sub-Originator on the Cut-Off Date.
Initial Purchase Price Payment. The Initial Purchase Price will be paid as follows: (x) issuance to Seller of a number shares of Class A Common Stock of Buyer, ticker symbol LAD on the New York Stock Exchange (“Lithia Shares”), determined by dividing $22,500,000 by the volume-weighted average trading price of Lithia Shares in the 30 trading days ending on the day immediately preceding the Closing Date (“Stock Consideration”) and (y) an amount in cash equal to the Initial Purchase Price minus $22,500,000 (the “Cash Consideration”). At the Closing, Buyer shall pay the Initial Purchase Price as follows:
Initial Purchase Price Payment. (a) [Reserved].
