Common use of Issuer's Obligation to Pay Certain Amounts; Additional Assignment Amount Clause in Contracts

Issuer's Obligation to Pay Certain Amounts; Additional Assignment Amount. The Issuer shall pay to the Agent, for the account of the Company, in connection with any assignment by the Company to the Bank Investors pursuant to this Section 5.7, an aggregate amount equal to all Carrying Costs to accrue with respect to obligations already entered into by the Company as a result of or in connection with this Agreement. To the extent that such Carrying Costs relate to interest or discount on Commercial Paper issued to fund or refinance the Net Investment, if the Issuer fails to make payment of such amounts at or prior to the time of assignment by the Company to the Bank Investors, such amount shall be paid by the Bank Investors (in accordance with their respective Pro Rata Shares) to the Company as additional consideration for the interests assigned to the Bank Investors and the amount of the Net Investment hereunder held by the Bank Investors shall be increased by an amount equal to the additional amount so paid by the Bank Inves tors.

Appears in 2 contracts

Samples: Note Purchase Agreement (Union Acceptance Corp), Note Purchase Agreement (Union Acceptance Corp)

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Issuer's Obligation to Pay Certain Amounts; Additional Assignment Amount. The Issuer shall pay to the Agent, for the account of the Company, in connection with any assignment by the Company to the Bank Investors pursuant to this Section 5.76.7(a), an aggregate amount equal to all Carrying Costs to accrue with respect through the end of each outstanding funding period plus all other amounts owed to obligations already entered into by the Agent, the Company as a result of or in connection with this Agreement. To the extent that such Carrying Costs relate Bank Investors pursuant to interest or discount on Commercial Paper issued to fund or refinance any Transaction Document (other than the Net Investment, if ). If the Issuer fails to make payment of such amounts at or prior to the time of assignment by the Company to the Bank Investors, such amount shall be paid by the Bank Investors (in accordance with their respective Pro Rata Shares) to the Company as additional consideration for the interests assigned to the Bank Investors and the amount of the "Net Investment Investment" hereunder held by the Bank Investors shall be increased by an amount equal to the additional amount so paid by the Bank Inves torsInvestors.

Appears in 1 contract

Samples: Note Purchase Agreement (Credit Acceptance Corporation)

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Issuer's Obligation to Pay Certain Amounts; Additional Assignment Amount. The Issuer shall pay to the Agent, for the account of the Company, in connection with any assignment by the Company to the Bank Investors pursuant to this Section 5.7, an aggregate amount equal to all Carrying Costs to accrue with respect to obligations already entered into by the Company as a result of or in connection with this Agreement. To the extent that such Carrying Costs relate to interest or discount on Commercial Paper issued to fund or refinance the Net Investment, if the Issuer fails to make payment of such amounts at or prior to the time of assignment by the Company to the Bank Investors, such amount shall be paid by the Bank Investors (in accordance with their respective Pro Rata Shares) to the Company as additional consideration for the interests assigned to the Bank Investors and the amount of the Net Investment hereunder held by the Bank Investors shall be increased by an amount equal to the additional amount so paid by the Bank Inves torsInvestors.

Appears in 1 contract

Samples: Note Purchase Agreement (Union Acceptance Corp)

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