Payment of Receivables Purchase Price. In consideration of the sale of the Receivables from the RPA Seller to the Purchaser as provided in Section 2.01, on the Closing Date the Purchaser agrees to pay the RPA Seller an amount equal to the estimated fair market value of the Receivables (such amount, the “Receivables Purchase Price”), which amount shall be paid in the form of (i) cash and (ii) a capital contribution from the RPA Seller to the Purchaser in an amount equal to the excess, if any, of such estimated fair market value of the Receivables over such cash payment. ARTICLE FOUR
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Honda Auto Receivables 2017-1 Owner Trust), Receivables Purchase Agreement (Honda Auto Receivables 2017-1 Owner Trust)
Payment of Receivables Purchase Price. In consideration of the sale of the Receivables from the RPA Seller to the Purchaser as provided in Section 2.01, on the Closing Date the Purchaser agrees to pay the RPA Seller an amount equal to the estimated fair market value of the Receivables (such amount, the “Receivables Purchase Price”), which amount shall be paid in the form of (i) cash and (ii) a capital contribution from the RPA Seller to the Purchaser in an amount equal to the excess, if any, of such estimated fair market value of the Receivables over such cash payment. ARTICLE FOUR.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Honda Auto Receivables 2016-4 Owner Trust), Receivables Purchase Agreement (Honda Auto Receivables 2016-4 Owner Trust)