Payment of Purchase Price and Acceptance by Debtor Sample Clauses

Payment of Purchase Price and Acceptance by Debtor. (a) In consideration for the sale of the Related Consumer Loans and Other Conveyed Property described in Section 2.1(a) or the related Consumer Loans Assignment, the Debtor shall, on each Purchase Date on which Related Consumer Loans are transferred hereunder, pay to or upon the order of the Seller the Consumer Loan Value of the Related Consumer Loans (the “Purchase Price”). The Debtor and the Seller agree that the Purchase Price paid with respect to any Consumer Loans shall represent fair and reasonably equivalent value for the Consumer Loans then sold and purchased. A portion of the Purchase Price shall be paid to the Seller in immediately available funds and the balance of such purchase shall be paid through a deemed capital contribution from the Seller of the applicable amount to the equity of the Debtor (which, if the Debtor is owned directly by the Seller, shall be effected by a consecutive series of deemed contribution by each intermediate entity in the ownership chain to its subsidiary until such contribution is received by the Debtor). The amount of the deemed capital contribution shall be duly recorded by the Seller and the Debtor. The Debtor hereby accepts all consideration conveyed by the Seller pursuant to Section 2.1(a), and declares that the Debtor shall hold such consideration subject to the terms and conditions of the Loan and Security Agreement, this Agreement and the Consumer Loans Assignment. The Debtor hereby agrees to and accepts the appointment and authorization of NetCredit Loan Services, LLC as Master Servicer under Section 2.01 of the Servicing Agreement.
Sample 1
AutoNDA by SimpleDocs

Related to Payment of Purchase Price and Acceptance by Debtor

  • Payment of Purchase Price The Purchase Price shall be paid as follows:

  • Purchase Price; Payment of Purchase Price In addition to the Assumed Liabilities described below, the aggregate consideration for the Subject Assets (the “Purchase Price”) shall be the amount equal to: $2,000,000. The Purchase Price shall be subject to adjustment as set forth in Section 1.7 below as so adjusted.

  • Payment of Purchase Price Upon Exercise At the time of any exercise, the Exercise Price of the Shares as to which this Option is exercised shall be paid in cash to the Company, unless, in accordance with the provisions of Section 4.2(c) of the Plan, the Board shall permit or require payment of the purchase price in another manner set forth in the Plan.

  • Payment of Purchase Price for the Mortgage Loans (a) In consideration of the sale of the Initial Mortgage Loans from each of the Sellers to the Purchaser on the Closing Date, the Purchaser agrees to transfer to the applicable Seller on the Closing Date the purchase price for the applicable Initial Mortgage Loans provided in the Adoption Annex attached as Annex 1 to this Agreement (the "Adoption Annex").

  • Purchase Price; Allocation of Purchase Price (a) Subject to the terms and conditions of this Agreement, the purchase price for the Interests and the Purchased Assets (other than the Specified OUS Assets) (such amount, the “Purchase Price”) is payable as follows:

  • Adjustment of Purchase Price NUMBER AND KIND OF SHARES OR NUMBER OF RIGHTS. The Purchase Price, the number and kind of shares covered by each Right and the number of Rights outstanding are subject to adjustment from time to time as provided in this Section 11.

  • Amount of Purchase Price The purchase price (“Purchase Price”) per Share for each Share which Optionee is entitled to purchase under the Options shall be $2.25 per Share.

  • SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE Section 2.01. Sale of the Mortgage Loans.......................................................4 Section 2.02. Obligations of Seller Upon Sale..................................................4 Section 2.03. Payment of Purchase Price for the Mortgage Loans.................................7

  • AMOUNT AND PAYMENT OF PURCHASE PRICE The total consideration and method of payment thereof are fully set out in Exhibit "A" attached hereto and made a part hereof.

  • Purchase Price Payment Purchaser shall deliver to SAFEDOX the sum of $5,000 in payment of the 16,667 shares of Common Stock purchased by Purchaser hereunder, a per share price of $.30, which payment shall be delivered as provided in paragraphs VI and VII hereinbelow.

Time is Money Join Law Insider Premium to draft better contracts faster.