{"component": "clause", "props": {"groups": [{"snippet": "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 \u2587\u2587\u2587\u2587, without recourse:\n(i) all right, title and interest of the Seller in, to and under the Initial Receivables listed on the Schedule of Initial Receivables and all monies received thereon on and after the Initial Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle;\n(ii) the interest of the Seller in the security interests in the Financed Vehicles granted by Obligors pursuant to the Initial Receivables and, to the extent permitted by law, any accessions thereto;\n(iii) the interest of the Seller in any proceeds from claims on any physical damage, credit life, credit disability or other insurance policies covering the related Financed Vehicles or Obligors;\n(iv) the interest of the Seller in any proceeds from recourse against Dealers on the Initial Receivables;\n(v) all right, title and interest of the Seller in, to and under the First Step Initial Receivables Assignment;\n(vi) the right to purchase Additional Receivables during the Revolving Period at a price equal to the Aggregate Additional Receivables Principal Balance on each applicable Distribution Date; and\n(vii) all present and future claims, demands, causes and choses in action in respect of any or all of the foregoing described in clauses (i) through (vi) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general intangibles, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing. The property described in clauses (i) through (vii) above is referred to herein collectively as the \u201cInitial Purchased Property.\u201d", "samples": [{"hash": "jxUUaTnSRb1", "uri": "/contracts/jxUUaTnSRb1#initial-purchase", "label": "Pooling and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-4)", "score": 24.8015060425, "published": true}, {"hash": "bmb1DMF7NYV", "uri": "/contracts/bmb1DMF7NYV#initial-purchase", "label": "Pooling and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-4)", "score": 24.7960300446, "published": true}, {"hash": "yoQFiQUl09", "uri": "/contracts/yoQFiQUl09#initial-purchase", "label": "Pooling and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-3)", "score": 24.6290206909, "published": true}], "size": 33, "snippet_links": [{"key": "the-initial-closing-date", "type": "clause", "offset": [3, 27]}, {"key": "subject-to", "type": "definition", "offset": [29, 39]}, {"key": "satisfaction-of-the-conditions", "type": 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"offset": [2076, 2089]}, {"key": "deposit-accounts", "type": "definition", "offset": [2099, 2115]}, {"key": "insurance-proceeds", "type": "definition", "offset": [2117, 2135]}, {"key": "investment-property", "type": "definition", "offset": [2137, 2156]}, {"key": "payment-intangibles", "type": "definition", "offset": [2158, 2177]}, {"key": "general-intangibles", "type": "clause", "offset": [2179, 2198]}, {"key": "condemnation-awards", "type": "definition", "offset": [2200, 2219]}, {"key": "payment-of", "type": "definition", "offset": [2231, 2241]}, {"key": "other-forms", "type": "clause", "offset": [2265, 2276]}, {"key": "other-property", "type": "clause", "offset": [2325, 2339]}, {"key": "at-any-time", "type": "clause", "offset": [2346, 2357]}, {"key": "the-property", "type": "clause", "offset": [2441, 2453]}, {"key": "initial-purchased-property", "type": "definition", "offset": [2542, 2568]}], "hash": "24c966cfd4dc80e73874e319e6aca011", "id": 1}, {"snippet": "The sale and purchase of the Initial Receivables shall take place at the offices of \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 & \u2587\u2587\u2587\u2587\u2587 LLP, \u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587, on the Initial Closing Date at a time mutually agreeable to the Seller and \u2587\u2587\u2587\u2587, and will occur simultaneously with the closing of transactions contemplated by the Further Transfer and Servicing Agreements.", "samples": [{"hash": "jxUUaTnSRb1", "uri": "/contracts/jxUUaTnSRb1#initial-purchase", "label": "Pooling and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-4)", "score": 24.8015060425, "published": true}, {"hash": "bmb1DMF7NYV", "uri": "/contracts/bmb1DMF7NYV#initial-purchase", "label": "Pooling and Servicing Agreement (Capital Auto Receivables Asset 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the Buyer shall have received (or be satisfied that it will receive by such deadline as the Buyer shall specify) the following, all of which must be satisfactory in form and content to the Buyer:\n(i) this Agreement duly executed by the parties;\n(ii) UCC financing statements for the Purchased Loans covered and security interests granted by this Agreement, each duly authorized by the Seller;\n(iii) a current UCC search report of a UCC filings search in the office of the Secretary of State of the State of Ohio and such tax lien, judgment, litigation and bankruptcy searches in such jurisdictions as the Buyer may request, in each case satisfactory to the Buyer;\n(iv) the Electronic Tracking Agreement duly executed by the Seller, MERS, MERSCORP, Inc. and the Buyer;\n(v) a copy of the corporate resolution (or equivalent thereof) of the Seller authorizing the execution, delivery and performance of the Repurchase Documents, certified as of the date of this Agreement by the Secretary or an Assistant Secretary of the Seller;\n(vi) an incumbency certificate showing the names and titles and bearing the signatures of the officers of the Seller authorized to execute the Repurchase Documents, certified as of the date of this Agreement by the Secretary or an Assistant Secretary of the Seller;\n(vii) a copy of the bylaws of the Seller, certified as of the date of this Agreement by the Secretary or an Assistant Secretary of the Seller;\n(viii) a copy of the Articles of Incorporation of the Seller with all amendments thereto, certified by the appropriate governmental official of the jurisdiction of its incorporation as of a date acceptable to the Buyer in its sole discretion;\n(ix) a certificate of good standing (or the equivalent thereof) for the Seller in the jurisdiction of its incorporation, certified by the appropriate governmental officials as of a date acceptable to the Buyer in its sole discretion;\n(x) evidence reasonably satisfactory to the Buyer (i) as to the due filing and recording in all appropriate offices of all financing statements, (ii) if there are any Purchased Loans that require the Buyer\u2019s interest to be noted by book entry, that such book entry has been duly made and (iii) if there is any \u201cinvestment property\u201d under the UCC of the State of Minnesota or other applicable law, that such instruments as are necessary to give the Buyer \u201ccontrol\u201d of such investment property have been duly executed by the Seller and the relevant securities intermediary;\n(xi) copies of an errors and omissions insurance policy or mortgage impairment insurance policy and blanket bond coverage policy, or certificates in lieu of policies, with insurance providers reasonably acceptable to the Buyer, in each case naming the Buyer as an additional insured and providing for coverage in the amounts specified in Section 16.11;\n(xii) favorable written opinions of counsel to the Seller dated on or before the initial Purchase Date, addressed to the Buyer and in form and substance reasonably satisfactory to the Buyer and its legal counsel (a form containing opinions required to be included therein is set forth in Exhibit B), specifically stating that the Buyer and any person or entity that purchases the Purchased Loans from the Buyer can rely on it; provided, that Seller\u2019s outside counsel may deliver its opinion at any time prior to January 15, 2010;\n(xiii) payment to the Buyer of the Facility Fee and all other fees and expenses (including the disbursements and reasonable fees of the Buyer\u2019s attorneys) of the Buyer payable by the Seller pursuant to Section 9 accrued and billed for to the date of the Seller\u2019s execution and delivery of this Agreement;\n(xiv) control agreements in form and substance reasonably satisfactory to the Buyer establishing its control of the Income Account and Escrow Account; and\n(xv) evidence satisfactory to the Buyer that the Seller has entered into an agreement with Citibank, N.A., or another financial institution acceptable to the Buyer in its sole discretion, providing mortgage warehouse financing in a committed amount of no less than Fifty Million Dollars ($50,000,000).\n(b) All directors and officers of the Seller and all Affiliates of the Seller, to whom or which the Seller is indebted as of the date of this Agreement either for borrowed money or for any other obligation, excluding salary, bonus or other compensation obligations, shall have caused such Debt to be Qualified Subordinated Debt, by executing and causing to be delivered to the Buyer a Subordination Agreement and taking all other steps, if any, required to cause such Debt to be Qualified Subordinated Debt, and the corporate secretary of the Seller shall have certified each such Subordination Agreement executed to satisfy the requirements of this Section 14.1(b) to be true, complete and in full force and effect as of the date of the initial purchase.", "samples": [{"hash": "lhvglfhRNWy", "uri": "/contracts/lhvglfhRNWy#initial-purchase", "label": "Master Repurchase Agreement (Sirva Inc)", "score": 25.5311431885, "published": true}, {"hash": "8fsS6XCUrAQ", "uri": "/contracts/8fsS6XCUrAQ#initial-purchase", "label": "Master Repurchase Agreement (Sirva Inc)", "score": 25.4353179932, "published": true}], "size": 22, "snippet_links": [{"key": "obligations-of-the-buyer", "type": "clause", "offset": [4, 28]}, {"key": "to-the-seller", "type": "definition", "offset": [91, 104]}, {"key": "conditions-precedent", "type": "clause", "offset": [136, 156]}, {"key": "the-buyer-shall", "type": "clause", "offset": [162, 177]}, {"key": "form-and-content", "type": "clause", "offset": [327, 343]}, {"key": "to-the-buyer", "type": "clause", "offset": [344, 356]}, {"key": "executed-by-the-parties", "type": "clause", "offset": [382, 405]}, {"key": "ucc-financing-statements", "type": "clause", "offset": [412, 436]}, {"key": "loans-covered", "type": "clause", "offset": [455, 468]}, {"key": "by-this-agreement", "type": "clause", "offset": [500, 517]}, {"key": "by-the-seller", "type": "clause", "offset": [540, 553]}, {"key": "report-of", "type": "clause", "offset": [582, 591]}, {"key": "ucc-filings", "type": "clause", "offset": [594, 605]}, {"key": "office-of-the-secretary-of-state", "type": "clause", "offset": [620, 652]}, {"key": "state-of-ohio", "type": "clause", "offset": [660, 673]}, {"key": "tax-lien", "type": "definition", "offset": [683, 691]}, {"key": "litigation-and-bankruptcy", "type": "clause", "offset": [703, 728]}, {"key": "buyer-may", "type": "definition", "offset": [767, 776]}, {"key": "each-case", "type": "definition", "offset": [789, 798]}, {"key": "electronic-tracking-agreement", "type": "clause", "offset": [835, 864]}, {"key": "a-copy-of-the", "type": "clause", "offset": [934, 947]}, {"key": "corporate-resolution", "type": "definition", "offset": [948, 968]}, {"key": "or-equivalent", "type": "definition", "offset": [970, 983]}, {"key": "of-the-seller", "type": "clause", "offset": [993, 1006]}, {"key": "the-execution", "type": "clause", "offset": [1019, 1032]}, {"key": "delivery-and-performance", "type": "clause", "offset": [1034, 1058]}, {"key": "repurchase-documents", "type": "clause", "offset": [1066, 1086]}, {"key": "date-of-this-agreement", "type": "clause", "offset": [1108, 1130]}, {"key": "assistant-secretary", "type": "definition", "offset": [1154, 1173]}, {"key": "an-incumbency-certificate", "type": "clause", "offset": [1194, 1219]}, {"key": "the-names", "type": "clause", "offset": [1228, 1237]}, {"key": "titles-and", "type": "clause", "offset": [1242, 1252]}, {"key": "the-officers", "type": "definition", "offset": [1279, 1291]}, {"key": "the-bylaws", "type": "clause", "offset": [1471, 1481]}, {"key": "incorporation-of", "type": "definition", "offset": [1631, 1647]}, {"key": "certified-by", "type": "definition", "offset": [1688, 1700]}, {"key": "governmental-official", "type": "definition", "offset": [1717, 1738]}, {"key": "sole-discretion", "type": "definition", "offset": [1824, 1839]}, {"key": "a-certificate-of-good-standing", "type": "clause", "offset": [1846, 1876]}, {"key": "for-the-seller", "type": "clause", "offset": [1905, 1919]}, {"key": "filing-and-recording", "type": "clause", "offset": [2143, 2163]}, {"key": "require-the", "type": "clause", "offset": [2263, 2274]}, {"key": "book-entry", "type": "clause", "offset": [2307, 2317]}, {"key": "duly-made", "type": "definition", "offset": [2349, 2358]}, {"key": "investment-property", "type": "definition", "offset": [2386, 2405]}, {"key": "other-applicable-law", "type": "definition", "offset": [2450, 2470]}, {"key": "securities-intermediary", "type": "definition", "offset": [2622, 2645]}, {"key": "copies-of", "type": "clause", "offset": [2652, 2661]}, {"key": "errors-and-omissions-insurance-policy", "type": "clause", "offset": [2665, 2702]}, {"key": "mortgage-impairment-insurance-policy", "type": "definition", "offset": [2706, 2742]}, {"key": "blanket-bond", "type": "definition", "offset": [2747, 2759]}, {"key": "in-lieu-of", "type": "clause", "offset": [2793, 2803]}, {"key": "insurance-providers", "type": "definition", "offset": [2819, 2838]}, {"key": "an-additional-insured", "type": "clause", "offset": [2908, 2929]}, {"key": "opinions-of-counsel-to", "type": "clause", "offset": [3024, 3046]}, {"key": "initial-purchase-date", "type": "definition", "offset": [3081, 3102]}, {"key": "addressed-to", "type": "clause", "offset": [3104, 3116]}, {"key": "form-and-substance", "type": "clause", "offset": [3134, 3152]}, {"key": "legal-counsel", "type": "definition", "offset": [3198, 3211]}, {"key": "exhibit-b", "type": "definition", "offset": [3288, 3297]}, {"key": "person-or-entity", "type": "definition", "offset": [3344, 3360]}, {"key": "from-the-buyer", "type": "definition", "offset": [3396, 3410]}, {"key": "outside-counsel", "type": "definition", "offset": [3451, 3466]}, {"key": "at-any-time", "type": "clause", "offset": [3491, 3502]}, {"key": "prior-to", "type": "definition", "offset": [3503, 3511]}, {"key": "payment-to-the", "type": "clause", "offset": [3537, 3551]}, {"key": "the-facility-fee", "type": "clause", "offset": [3561, 3577]}, {"key": "other-fees-and-expenses", "type": "clause", "offset": [3586, 3609]}, {"key": "reasonable-fees", "type": "definition", "offset": [3643, 3658]}, {"key": "pursuant-to-section-9", "type": "clause", "offset": [3720, 3741]}, {"key": "execution-and-delivery-of-this-agreement", "type": "clause", "offset": [3793, 3833]}, {"key": "control-agreements", "type": "definition", "offset": [3841, 3859]}, {"key": "the-income-account", "type": "clause", "offset": [3947, 3965]}, {"key": "escrow-account", "type": "definition", "offset": [3970, 3984]}, {"key": "entered-into", "type": "clause", "offset": [4050, 4062]}, {"key": "an-agreement", "type": "clause", "offset": [4063, 4075]}, {"key": "financial-institution", "type": "clause", "offset": [4108, 4129]}, {"key": "warehouse-financing", "type": "definition", "offset": [4197, 4216]}, {"key": "committed-amount", "type": "definition", "offset": [4222, 4238]}, {"key": "directors-and-officers-of-the", "type": "clause", "offset": [4300, 4329]}, {"key": "the-seller-is", "type": "clause", "offset": [4388, 4401]}, {"key": "borrowed-money", "type": "clause", "offset": [4455, 4469]}, {"key": "other-obligation", "type": "clause", "offset": [4481, 4497]}, {"key": "compensation-obligations", "type": "clause", "offset": [4532, 4556]}, {"key": "debt-to", "type": "clause", "offset": [4581, 4588]}, {"key": "qualified-subordinated-debt", "type": "clause", "offset": [4592, 4619]}, {"key": "subordination-agreement", "type": "definition", "offset": [4677, 4700]}, {"key": "other-steps", "type": "clause", "offset": [4716, 4727]}, {"key": "corporate-secretary", "type": "clause", "offset": [4808, 4827]}, {"key": "the-seller-shall", "type": "clause", "offset": [4831, 4847]}, {"key": "agreement-executed", "type": "clause", "offset": [4887, 4905]}, {"key": "the-requirements", "type": "clause", "offset": [4917, 4933]}, {"key": "full-force-and-effect", "type": "definition", "offset": [4986, 5007]}], "hash": "74d7caa9b72f9f7d270a4f920ea60a1d", "id": 3}, {"snippet": "In consideration for the Initial Purchased Property, \u2587\u2587\u2587\u2587 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 \u2587\u2587\u2587\u2587 an assignment in the form attached hereto as Exhibit A (the \u201cFirst Step Initial Receivables Assignment\u201d). The Initial Aggregate Receivables Principal Balance is equal to $804,999,778.68. 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 \u2587\u2587\u2587\u2587 to Seller under the Intercompany Advance Agreement (as a result of an advance made thereunder from Seller to \u2587\u2587\u2587\u2587) and (b) an increase in Seller\u2019s capital account in \u2587\u2587\u2587\u2587 (as a result of a deemed capital contribution from the Seller to \u2587\u2587\u2587\u2587). The amount advanced under the Intercompany Advance Agreement and the amount of the deemed capital contribution shall be duly recorded by the Seller and \u2587\u2587\u2587\u2587.", "samples": [{"hash": "jxUUaTnSRb1", "uri": "/contracts/jxUUaTnSRb1#initial-purchase", "label": "Pooling and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-4)", "score": 24.8015060425, "published": true}, {"hash": "bmb1DMF7NYV", "uri": "/contracts/bmb1DMF7NYV#initial-purchase", "label": "Pooling and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-4)", "score": 24.7960300446, "published": true}], "size": 22, "snippet_links": [{"key": "in-consideration-for", "type": "clause", "offset": [0, 20]}, {"key": "initial-purchased-property", "type": "definition", "offset": [25, 51]}, {"key": "the-initial-closing-date", "type": "clause", "offset": [68, 92]}, {"key": "to-the-seller", "type": "definition", "offset": [98, 111]}, {"key": "equal-to", "type": "definition", "offset": [122, 130]}, {"key": "initial-aggregate-receivables-principal-balance", "type": "definition", "offset": [135, 182]}, {"key": "in-respect-of", "type": "clause", "offset": [183, 196]}, {"key": "the-seller-shall", "type": "clause", "offset": [225, 241]}, {"key": "deliver-to", "type": "definition", "offset": [254, 264]}, {"key": "an-assignment", "type": "definition", "offset": [270, 283]}, {"key": "exhibit-a", "type": "definition", "offset": [315, 324]}, {"key": "first-step-initial-receivables-assignment", "type": "definition", "offset": [331, 372]}, {"key": "a-portion", "type": "definition", "offset": [457, 466]}, {"key": "immediately-available-funds", "type": "clause", "offset": [553, 580]}, {"key": "the-balance", "type": "clause", "offset": [585, 596]}, {"key": "purchase-price", "type": "definition", "offset": [605, 619]}, {"key": "amount-owing", "type": "definition", "offset": [680, 692]}, {"key": "to-seller", "type": "definition", "offset": [703, 712]}, {"key": "intercompany-advance-agreement", "type": "definition", "offset": [723, 753]}, {"key": "from-seller", "type": "clause", "offset": [797, 808]}, {"key": "capital-account", "type": "definition", "offset": [850, 865]}, {"key": "in-\u2587", "type": "clause", "offset": [866, 870]}, {"key": "deemed-capital-contribution", "type": "definition", "offset": [892, 919]}, {"key": "amount-advanced", "type": "definition", "offset": [950, 965]}, {"key": "by-the-seller", "type": "clause", "offset": [1080, 1093]}], "hash": "97ff326f1ffc73aba7f92c2775bbb6d4", "id": 4}, {"snippet": "The Seller shall give the Purchaser at least one Business Day\u2019s 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).", "samples": [{"hash": "eIo4DvDvh9J", "uri": "/contracts/eIo4DvDvh9J#initial-purchase", "label": "Tertiary Purchase Agreement", "score": 26.1704311371, "published": true}, {"hash": "lS6Kx0z7t8u", "uri": "/contracts/lS6Kx0z7t8u#initial-purchase", "label": "Secondary Purchase and Contribution Agreement (Ingersoll Rand Co LTD)", "score": 21.0, "published": true}, {"hash": "kCeEEYQDkxH", "uri": "/contracts/kCeEEYQDkxH#initial-purchase", "label": "Tertiary Purchase Agreement (Ingersoll Rand Co LTD)", "score": 21.0, "published": true}], "size": 21, "snippet_links": [{"key": "the-seller-shall", "type": "clause", "offset": [0, 16]}, {"key": "business-day", "type": "definition", "offset": [49, 61]}, {"key": "notice-of", "type": "definition", "offset": [64, 73]}, {"key": "request-for", "type": "clause", "offset": [78, 89]}, {"key": "date-of", "type": "clause", "offset": [154, 161]}, {"key": "purchase-price-for", "type": "clause", "offset": [225, 243]}, {"key": "the-purchaser-shall", "type": "clause", "offset": [289, 308]}, {"key": "satisfaction-of", "type": "clause", "offset": [315, 330]}, {"key": "applicable-conditions", "type": "definition", "offset": [335, 356]}, {"key": "article-iii", "type": "clause", "offset": [370, 381]}, {"key": "the-purchase-price", "type": "clause", "offset": [387, 405]}], "hash": "4d2283b6529df0b8235f61d2dc2d46c2", "id": 5}, {"snippet": "Subject to the terms and conditions of this ---------------- Supplement, including delivery of notice, if any, required by Section 2.05, (i) ------------ on the Series \u2587\u2587\u2587\u2587-\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Date, (A) the Series 2000-1 Initial Purchaser may, in its sole discretion, purchase the Series 2000-1 VFC Certificate, in an amount equal to the Series 2000-1 Initial Invested Amount, or (B) if the Series 2000-1 Initial Purchaser shall have notified the Funding Agent that it has elected not to purchase the Series 2000-1 VFC Certificate on the Series \u2587\u2587\u2587\u2587-\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Date, each Series 2000-1 APA Bank hereby severally agrees to purchase on the Series \u2587\u2587\u2587\u2587-\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Date its Series 2000-1 VFC Certificate Interest, which Series 2000-1 VFC Certificate Interest of each Series 2000-1 APA Bank will be reflected on the schedule attached as Schedule I to the Series 2000-1 VFC Certificate, in an amount equal to such Series 2000-1 APA Bank's Series 2000-1 Commitment Percentage of the Series 2000-1 Initial Invested Amount and (ii) thereafter, (A) if the Series 2000-1 Initial Purchaser shall have purchased the Series 2000-1 VFC Certificate on the Series \u2587\u2587\u2587\u2587-\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Date, the Series 2000-1 Initial Purchaser may, in its sole discretion, maintain the Series 2000-1 VFC Certificate, subject to increase or decrease during the Series 2000-1 Revolving Period, in accordance with the provisions of this Series 2000-1 Supplement and (B) if the Series 2000-1 APA Banks shall have purchased Series 2000-1 VFC Certificate Interest on the Series \u2587\u2587\u2587\u2587-\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Date or, in any case, on or after the Series 2000-1 Purchase Date, the Series 2000-1 APA Banks hereby severally agree to maintain their respective Series 2000-1 VFC Certificate Interest subject to increase or decrease during the Series 2000-1 Revolving Period, in accordance with the provisions of this Supplement. The Company hereby agrees to maintain ownership of the Series 2000-1 Subordinated Interests, subject to increase or decrease during the Series 2000-1 Revolving Period, in accordance with the provisions of this Supplement. Payments by the Series 2000-1 Initial Purchaser in respect of the Series 2000-1 VFC Certificate or the Series 2000-1 APA Banks in respect of their Series 2000-1 VFC Certificate Interests shall be made in immediately available funds on the Series \u2587\u2587\u2587\u2587-\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Date to the Funding Agent for payment to the Trust.", "samples": [{"hash": "59EbiQdj9wj", "uri": "/contracts/59EbiQdj9wj#initial-purchase", "label": "Pooling Agreement (Huntsman Ici Holdings LLC)", "score": 16.0, "published": true}, {"hash": "1A3ufzs5azf", "uri": "/contracts/1A3ufzs5azf#initial-purchase", "label": "Pooling Agreement (Huntsman Ici Chemicals LLC)", "score": 16.0, "published": true}], "size": 11, "snippet_links": [{"key": "the-terms-and-conditions-of-this", "type": "clause", "offset": [11, 43]}, {"key": "delivery-of-notice", "type": "clause", "offset": [83, 101]}, {"key": "required-by", "type": "definition", "offset": [111, 122]}, {"key": "the-series", "type": "clause", "offset": [157, 167]}, {"key": "series-2000", "type": "definition", "offset": [198, 209]}, {"key": "initial-purchaser", "type": "definition", "offset": [212, 229]}, {"key": "sole-discretion", "type": "definition", "offset": [242, 257]}, {"key": "vfc-certificate", "type": "definition", "offset": [286, 301]}, {"key": "equal-to", "type": "definition", "offset": [316, 324]}, {"key": "initial-invested-amount", "type": "definition", "offset": [343, 366]}, {"key": "the-funding-agent", "type": "clause", "offset": [434, 451]}, {"key": "agrees-to", "type": "clause", "offset": [603, 612]}, {"key": "certificate-interest", "type": "definition", "offset": [679, 699]}, {"key": "the-schedule", "type": "clause", "offset": [798, 810]}, {"key": "schedule-i", "type": "definition", "offset": [823, 833]}, {"key": "commitment-percentage", "type": "definition", "offset": [938, 959]}, {"key": "increase-or-decrease", "type": "clause", "offset": [1280, 1300]}, {"key": "revolving-period", "type": "clause", "offset": [1326, 1342]}, {"key": "in-accordance-with", "type": "definition", "offset": [1344, 1362]}, {"key": "the-provisions-of-this", "type": "clause", "offset": [1363, 1385]}, {"key": "apa-banks", "type": "definition", "offset": [1440, 1449]}, {"key": "interest-on-the", "type": "clause", "offset": [1501, 1516]}, {"key": "purchase-date", "type": "definition", "offset": [1592, 1605]}, {"key": "to-maintain", "type": "clause", "offset": [1658, 1669]}, {"key": "the-company-hereby", "type": "clause", "offset": [1855, 1873]}, {"key": "ownership-of-the", "type": "clause", "offset": [1893, 1909]}, {"key": "subordinated-interests", "type": "definition", "offset": [1924, 1946]}, {"key": "payments-by-the", "type": "clause", "offset": [2077, 2092]}, {"key": "in-respect-of", "type": "clause", "offset": [2125, 2138]}, {"key": "immediately-available-funds", "type": "clause", "offset": [2281, 2308]}, {"key": "to-the-trust", "type": "definition", "offset": [2377, 2389]}], "hash": "92ba7475b881dcda3fc211b8d144d589", "id": 6}, {"snippet": "The Parent on behalf of the Sellers shall give the Purchaser at least one Business Day\u2019s notice of their 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. The Purchaser shall promptly notify the Sellers whether it has determined to make 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).", "samples": [{"hash": "ebLwcwWR3cO", "uri": "/contracts/ebLwcwWR3cO#initial-purchase", "label": "Purchase and Contribution Agreement (Olin Corp)", "score": 21.0, "published": true}], "size": 7, "snippet_links": [{"key": "the-parent", "type": "definition", "offset": [0, 10]}, {"key": "of-the-sellers", "type": "clause", "offset": [21, 35]}, {"key": "business-day", "type": "definition", "offset": [74, 86]}, {"key": "notice-of", "type": "definition", "offset": [89, 98]}, {"key": "request-for", "type": "clause", "offset": [105, 116]}, {"key": "date-of", "type": "clause", "offset": [181, 188]}, {"key": "purchase-price-for", "type": "clause", "offset": [252, 270]}, {"key": "the-purchaser-shall", "type": "clause", "offset": [286, 305]}, {"key": "notify-the", "type": "clause", "offset": [315, 325]}, {"key": "satisfaction-of", "type": "clause", "offset": [439, 454]}, {"key": "applicable-conditions", "type": "definition", "offset": [459, 480]}, {"key": "article-iii", "type": "clause", "offset": [494, 505]}, {"key": "the-purchase-price", "type": "clause", "offset": [511, 529]}], "hash": "da0d0ee05a44417f562d13ff2cfa101a", "id": 7}, {"snippet": "The initial Purchase Tranche contemplated hereunder shall be closed and funded simultaneous with the execution of this Agreement by Lender, Assignee and Borrower.", "samples": [{"hash": "hYNRKGxsh4W", "uri": "/contracts/hYNRKGxsh4W#initial-purchase", "label": "Debt Purchase Agreement (Grow Solutions Holdings, Inc.)", "score": 26.5592060089, "published": true}, {"hash": "laF0QGO1tWB", "uri": "/contracts/laF0QGO1tWB#initial-purchase", "label": "Debt Purchase Agreement (KSIX Media Holdings, Inc.)", "score": 25.7159481049, "published": true}, {"hash": "8NwupU9jcpq", "uri": "/contracts/8NwupU9jcpq#initial-purchase", "label": "Debt Purchase Agreement (Growlife, Inc.)", "score": 25.6639289856, "published": true}], "size": 6, "snippet_links": [{"key": "execution-of-this-agreement", "type": "clause", "offset": [101, 128]}, {"key": "by-lender", "type": "definition", "offset": [129, 138]}], "hash": "2fc2503b76340d0d6cdb42dc270d1f72", "id": 8}, {"snippet": "On the IPO Effective Date, after giving effect to the Contribution, IBG Holdings shall sell 40,000,000 IBG LLC Shares to IBGI (the \u201cInitial Purchase\u201d) 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 \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 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.", "samples": [{"hash": "zn83xpMYE", "uri": "/contracts/zn83xpMYE#initial-purchase", "label": "Exchange Agreement (IBG Holdings LLC)", "score": 21.0, "published": true}, {"hash": "e2nIzBhQ6kA", "uri": "/contracts/e2nIzBhQ6kA#initial-purchase", "label": "Exchange Agreement (Interactive Brokers Group, Inc.)", "score": 21.0, "published": true}, {"hash": "2lKgSfdW2vd", "uri": "/contracts/2lKgSfdW2vd#initial-purchase", "label": "Exchange Agreement (Interactive Brokers Group, Inc.)", "score": 21.0, "published": true}], "size": 6, "snippet_links": [{"key": "ipo-effective-date", "type": "clause", "offset": [7, 25]}, {"key": "after-giving", "type": "clause", "offset": [27, 39]}, {"key": "the-contribution", "type": "clause", "offset": [50, 66]}, {"key": "ibg-llc-shares", "type": "definition", "offset": [103, 117]}, {"key": "aggregate-consideration", "type": "definition", "offset": [158, 181]}, {"key": "sum-of", "type": "clause", "offset": [205, 211]}, {"key": "amount-to-be-paid", "type": "clause", "offset": [233, 250]}, {"key": "proceeds-of-the-ipo", "type": "clause", "offset": [266, 285]}, {"key": "equal-to", "type": "definition", "offset": [305, 313]}, {"key": "tax-benefits", "type": "clause", "offset": [318, 330]}, {"key": "over-time", "type": "clause", "offset": [354, 363]}, {"key": "in-accordance-with", "type": "definition", "offset": [365, 383]}, {"key": "tax-receivable-agreement", "type": "clause", "offset": [388, 412]}, {"key": "in-connection-with", "type": "clause", "offset": [414, 432]}, {"key": "cash-consideration", "type": "definition", "offset": [474, 492]}, {"key": "in-clause", "type": "clause", "offset": [503, 512]}, {"key": "ipo-date", "type": "definition", "offset": [530, 538]}, {"key": "transfer-of", "type": "definition", "offset": [547, 558]}, {"key": "immediately-available-funds", "type": "clause", "offset": [559, 586]}, {"key": "in-writing", "type": "definition", "offset": [612, 622]}, {"key": "upon-completion-of-the", "type": "clause", "offset": [640, 662]}, {"key": "with-respect-to", "type": "clause", "offset": [698, 713]}, {"key": "llc-membership-interests", "type": "clause", "offset": [722, 746]}, {"key": "sole-managing-member", "type": "clause", "offset": [838, 858]}, {"key": "pursuant-to-the", "type": "clause", "offset": [859, 874]}, {"key": "ibg-llc-operating-agreement", "type": "definition", "offset": [875, 902]}, {"key": "books-and-records", "type": "definition", "offset": [912, 929]}], "hash": "699b40234c905d80fc535384886eaa30", "id": 9}, {"snippet": "The obligations of the Buyers (and the Administrative Agent on the Buyers\u2019 behalf) to make the initial purchase under this Agreement are subject to the Seller\u2019s fulfillment of the following conditions precedent:\n(a) the Administrative Agent shall have received (or be satisfied that it will receive by such deadline as the Administrative Agent shall specify) the following, all of which must be satisfactory in form and content to the Administrative Agent:\n(1) this Agreement duly executed by the parties;\n(2) a fee letter in form and substance satisfactory to U.S. Bank duly executed by the Seller;\n(3) a current UCC search report of a UCC filings search in the office of the Secretary of State of the State of Texas;\n(4) an Amended and Restated Custody Agreement duly executed by the Administrative Agent, the Seller and the Custodian;\n(5) copies of the Seller\u2019s (i) limited partnership agreement, (ii) certificate of limited partnership issued by the state of Texas, (iii) articles of incorporation certified by the Secretary of State of the State of the Seller\u2019s General Partner and (iv) bylaws or regulations and all amendments certified by its corporate secretary or assistant secretary, as well as any other information required by Section 326 of the USA Patriot Act or necessary for the Administrative Agent and the Buyers to verify the identity of the Seller as required by Section 326 of the USA Patriot Act in accordance with the requirements summarized in the notice given in Section 35;\n(6) the Electronic Tracking Agreement duly executed by the Seller, MERS, MERSCorp., Inc. and the Administrative Agent;\n(7) evidence reasonably satisfactory to the Administrative Agent (i) as to the due filing and recording in all appropriate offices of all financing statements, (ii) if there are any Purchased Loans that require the Buyers\u2019 interest to be noted by book entry, that such book entry has been duly made and (iii) if there is any \u201cinvestment property\u201d under the UCC of the State of New York or other applicable Law, that such instruments as are necessary to give the Administrative Agent \u201ccontrol\u201d of such investment property have been duly executed by the Seller and the relevant securities intermediary;\n(8) a certificate of existence or authority and good standing for the Seller issued by the Secretary of State of Texas;\n(9) original resolutions of the Seller\u2019s general partner\u2019s board of directors, certified as of the initial Purchase Date by the Seller\u2019s general partner\u2019s corporate secretary or assistant secretary or other authorized officer, authorizing the execution, delivery and performance by the Seller of this Agreement, the Custody Agreement and all other Repurchase Documents to be delivered by the Seller pursuant to this Agreement;\n(10) a certificate of the Seller\u2019s general partner\u2019s corporate secretary or assistant secretary or other authorized officer as to (i) the incumbency of the officers of the Seller executing this Agreement, the Custody Agreement, each applicable Request/Confirmation and all other Repurchase Documents executed or to be executed by or on behalf of the Seller and (ii) the authenticity of their signatures, and specimens of their signatures shall be included in such certificate or set forth on an exhibit attached to it, (the Administrative Agent, the Buyers and the Custodian shall be entitled to rely on that certificate until the Seller has furnished a new certificate to the Administrative Agent);\n(11) an Officer\u2019s Certificate for the Seller dated the initial Purchase Date and certifying truthfully that, (i) after giving effect to the Transaction to occur on that Purchase Date, no Default or Event of Default will exist, (ii) all of the representations and warranties made by the Seller in the Repurchase Documents are true and correct as of the Effective Date and (iii) there has been no material adverse change since the Statement Date in any of the Central Elements in respect of the Seller or any of its Subsidiaries;\n(12) copies of an errors and omissions insurance policy or mortgage impairment insurance policy and blanket bond coverage policy, or certificates in lieu of policies, providing such insurance coverage as is customary for members of the Seller\u2019s industry;\n(13) a favorable written opinion of counsel to the Seller dated on or before the initial Purchase Date, addressed to the Administrative Agent and the Buyers and in form and substance reasonably satisfactory to the Administrative Agent and its legal counsel (a form containing opinions required to be included therein are set forth in Exhibit B), specifically stating that the Administrative Agent, the Buyers and any person or entity that purchases the Eligible Loans from the Buyers can rely on it; and\n(14) payment to the Administrative Agent or the Custodian, as applicable, of the Facility Fee, the Administrative Agent\u2019s Fee, the Custodian\u2019s Fee and all other fees and expenses (including the disbursements and reasonable fees of the Administrative Agent\u2019s attorneys) of the Administrative Agent and the Buyers payable by Seller pursuant to Section 9 accrued and billed for to the date of the Seller\u2019s execution and delivery of this Agreement.\n(b) All directors and officers of the Seller\u2019s general partner, all partners of the Seller and all Affiliates of the Seller or any of its Subsidiaries, to whom or which the Seller shall be indebted either for borrowed money or for any other obligation of $50,000 or more as of the date of this Agreement, excluding salary, bonus or other compensation obligations, shall have caused such Debt to be Qualified Subordinated Debt, by executing and causing to be delivered to the Administrative Agent a Subordination Agreement and taking all other steps, if any, required to cause such Debt to be Qualified Subordinated Debt, and the corporate secretary of the Seller shall have certified each such Subordination Agreement executed to satisfy the requirements of this Section 14.1(b) to be true, complete and in full force and effect as of the date of the initial purchase.", "samples": [{"hash": "3EmwsSQYVqC", "uri": "/contracts/3EmwsSQYVqC#initial-purchase", "label": "Master Repurchase Agreement (Horton D R Inc /De/)", "score": 24.1813831329, "published": true}, {"hash": "eNqi3UoHboT", "uri": "/contracts/eNqi3UoHboT#initial-purchase", "label": "Master Repurchase Agreement (Horton D R Inc /De/)", "score": 24.1704311371, "published": true}], "size": 6, "snippet_links": [{"key": "obligations-of-the-buyers", "type": "clause", "offset": [4, 29]}, {"key": "the-administrative-agent", "type": "clause", "offset": [35, 59]}, {"key": "subject-to-the", "type": "definition", "offset": [137, 151]}, {"key": "conditions-precedent", "type": "clause", "offset": [190, 210]}, {"key": "agent-shall", "type": "definition", "offset": [235, 246]}, {"key": "form-and-content", "type": "clause", "offset": [411, 427]}, {"key": "executed-by-the-parties", "type": "clause", "offset": [481, 504]}, {"key": "fee-letter", "type": "definition", "offset": [512, 522]}, {"key": "form-and-substance", "type": "clause", "offset": [526, 544]}, {"key": "report-of", "type": "clause", "offset": [625, 634]}, {"key": "ucc-filings", "type": "clause", "offset": [637, 648]}, {"key": "office-of-the-secretary-of-state", "type": "clause", "offset": [663, 695]}, {"key": "the-state-of-texas", "type": "clause", "offset": [699, 717]}, {"key": "amended-and-restated", "type": "definition", "offset": [726, 746]}, {"key": "the-custodian", "type": "definition", "offset": [823, 836]}, {"key": "copies-of-the", "type": "clause", "offset": [842, 855]}, {"key": "limited-partnership-agreement", "type": "clause", "offset": [869, 898]}, {"key": "certificate-of-limited-partnership", "type": "definition", "offset": [905, 939]}, {"key": "by-the-state", "type": "clause", "offset": [947, 959]}, {"key": "articles-of-incorporation", "type": "clause", 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["amounts-and-terms-of-purchases-and-contributions", "Amounts and Terms of Purchases and Contributions"]], "title": "Initial Purchase", "size": 329, "children": [["class-a-notes", "Class A Notes"], ["class-b-notes", "Class B Notes"], ["", ""], ["class-c-notes", "Class C Notes"], ["hq-parties-deliveries", "H&Q Parties' Deliveries"]], "id": "initial-purchase", "related": [["initial-purchase-price", "Initial Purchase Price", "<strong>Initial Purchase</strong> Price"], ["initial-purchasers", "Initial Purchasers", "Initial Purchasers"], ["offering-by-initial-purchasers", "Offering by Initial Purchasers", "Offering by Initial Purchasers"], ["defaulting-initial-purchasers", "Defaulting Initial Purchasers", "Defaulting Initial Purchasers"], ["additional-purchases", "Additional Purchases", "Additional Purchases"]], "related_snippets": [], "updated": "2026-04-26T05:39:20+00:00", "also_ask": [], "drafting_tip": "Specify the quantity and description of goods to ensure clarity; set the purchase price to avoid disputes; define delivery terms to allocate risk and responsibility.", "explanation": "The Initial Purchase clause defines the terms and conditions under which the buyer agrees to make their first acquisition of goods or services from the seller. Typically, this clause specifies the quantity, price, and delivery schedule for the initial order, and may outline any special requirements or obligations that apply only to this first transaction. Its core practical function is to establish a clear starting point for the business relationship, ensuring both parties understand their commitments and reducing the risk of misunderstandings at the outset."}, "json": true, "cursor": ""}}