Common use of Purchase Limits Clause in Contracts

Purchase Limits. Subject to the terms and conditions hereof, from the date hereof until the earlier of (i) the Expiration Date and (ii) the reduction of the Liberty Maximum Net Investment or the TRFCO Maximum Net Investment, as the case may be, to zero pursuant to Section 2.03 hereof, the Seller may at its option sell to a Buyer, and such Buyer agrees to purchase from the Seller (such agreement being referred to herein as the "Purchase Obligation") undivided percentage ownership interests in the Receivables Pool by purchasing a Participation Interest in such Receivables Pool. Subject to the terms and conditions hereof, such Buyer shall also (i) make Reinvestments by permitting the Servicer to cause Collections allocated to such Buyer to be applied to the purchase of additional undivided percentage ownership interests in the Receivables Pool, and (ii) increase the Liberty Net Investment or the TRFCO Net Investment, as the case may be, in the applicable Participation Interest on any Settlement Date, or as otherwise set forth herein, at the request of the Seller (without regard to a minimum amount). A Buyer shall not purchase a Participation Interest on the Closing Date, or permit a Reinvestment to be made on any day, or increase the Liberty Net Investment or the TRFCO Net Investment, as the case may be, to the extent that the amount of such purchase, Reinvestment or increase shall exceed the applicable Purchase Availability Amount, or shall cause the Aggregate Buyer's Allocations (after giving effect to such purchase, Reinvestment or increase) to exceed 100%. Neither Liberty nor TRFCO shall be obligated to increase the Liberty Maximum Net Investment or the TRFCO Maximum Net Investment, as the case may be. A Buyer shall not purchase a Participation Interest, make a Reinvestment, or increase the Liberty Net Investment or the TRFCO Net Investment, as the case may be, if such Buyer cannot issue its commercial paper notes or short-term promissory notes or otherwise borrow in order to fund the Purchase Price of such Participation Interest, such Reinvestment or such increase, or make any such purchase, Reinvestment or increase on any Settlement Date at or after the earlier to occur of (i) the Expiration Date, and (ii) the reduction of the Maximum Net Investment to zero pursuant to Section 2.03 hereof. So long as no Termination Event or Potential Termination Event shall have occurred and be continuing, a Buyer shall make timely annual requests for renewal of its Liquidity Agreement during the term of this Agreement, provided that no such renewal shall be required to extend the term of a Liquidity Agreement beyond the Expiration Date.

Purchase Limits. Subject to the terms and conditions hereof, from the date hereof until the earlier of (i) the Expiration Date and (ii) the reduction of the Liberty Maximum Net Investment or the TRFCO Maximum Net Investment, as the case may be, to zero pursuant to Section 2.03 hereof, the --------------- Seller may at its option sell to a the Buyer, and such the Buyer agrees to purchase from the Seller (such agreement being referred to herein as the "Purchase Obligation") ), at any time and from time to time on and after the date hereof and to but excluding the Expiration Date, undivided percentage ownership interests in the Receivables Pool by purchasing a the Participation Interest in such Receivables Pool. Subject to the terms and conditions hereof, such the Buyer shall also (i) make Reinvestments by permitting the Servicer to cause Collections allocated to such the Buyer to be applied to the purchase of additional undivided percentage ownership interests in the Receivables Pool, and (ii) increase the Liberty its Net Investment or the TRFCO Net Investment, as the case may be, in the applicable Participation Interest on any Settlement Date, or as otherwise set forth herein, Date at the request of the Seller (without regard to a minimum amount). A The Buyer shall not purchase a the Participation Interest on the Closing Effective Date, or permit a Reinvestment to be made on any day, or increase the Liberty its Net Investment or the TRFCO Net Investment, as the case may beon any Settlement Date, to the extent that the amount of such purchase, purchase or Reinvestment or increase shall exceed the applicable Purchase Availability Amount, or shall cause the Aggregate Buyer's Allocations Allocation (after giving effect to such purchase, Reinvestment purchase or increaseReinvestment) to exceed 100%. Neither Liberty nor TRFCO The Buyer shall not be obligated to increase the Liberty Maximum Net Investment or the TRFCO Maximum Net Investment, as the case may be. A The Buyer shall not purchase a the Participation Interest, make a Reinvestment, or increase Interest if the Liberty Net Investment or the TRFCO Net Investment, as the case may be, if such Buyer cannot issue its commercial paper notes or short-term promissory notes or otherwise borrow in order to fund the Purchase Price of such Participation Interest, such Reinvestment or such increase, or to make any such purchase, purchase or any Reinvestment or increase its Net Investment on any Settlement Date at or after the earlier to occur of (i) the Expiration Date, and (ii) the reduction of the Maximum Net Investment to zero pursuant to Section 2.03 hereof. So long as no Termination Event or Potential Termination Event shall have occurred and be continuing, a Buyer shall make timely annual requests for renewal of its Liquidity Agreement during the term of this Agreement, provided that no such renewal shall be required to extend the term of a Liquidity Agreement beyond the Expiration Date.

Purchase Limits. Subject to the terms and conditions hereof, from the date hereof until the earlier of (i) the Expiration Date and (ii) the reduction of the Liberty Maximum Net Investment or the TRFCO Gotham Maximum Net Investment, as the case may be, to zero pursuant to Section 2.03 hereof, the Seller may at its option sell to a Buyer, and such Buyer agrees to purchase from the Seller (such agreement being referred to herein as the "“Purchase Obligation"”) undivided percentage ownership interests in the Receivables Pool by purchasing a Participation Interest in such Receivables Pool. Subject to the terms and conditions hereof, such Buyer shall also (i) make Reinvestments by permitting the Servicer to cause Collections allocated to such Buyer to be applied to the purchase of additional undivided percentage ownership interests in the Receivables Pool, and (ii) increase the Liberty Net Investment or the TRFCO Gotham Net Investment, as the case may be, in the applicable Participation Interest on any Settlement Date, or as otherwise set forth herein, at the request of the Seller (without regard to a minimum amount). A Buyer shall not purchase a Participation Interest on the Closing Date, or permit a Reinvestment to be made on any day, or increase the Liberty Net Investment or the TRFCO Gotham Net Investment, as the case may be, to the extent that the amount of such purchase, Reinvestment or increase shall exceed the applicable Purchase Availability Amount, or shall cause the Aggregate Buyer's ’s Allocations (after giving effect to such purchase, Reinvestment or increase) to exceed 100%. Neither Liberty nor TRFCO Gotham shall be obligated to increase the Liberty Maximum Net Investment or the TRFCO Gotham Maximum Net Investment, as the case may be. A Buyer shall not purchase a Participation Interest, make a Reinvestment, or increase the Liberty Net Investment or the TRFCO Gotham Net Investment, as the case may be, if such Buyer cannot issue its commercial paper notes or short-term promissory notes or otherwise borrow in order to fund the Purchase Price of such Participation Interest, such Reinvestment or such increase, or make any such purchase, Reinvestment or increase on any Settlement Date at or after the earlier to occur of (i) the Expiration Date, and (ii) the reduction of the Aggregate Maximum Net Investment to zero pursuant to Section 2.03 hereof. So long as no Termination Event or Potential Termination Event shall have occurred and be continuing, a Buyer shall make timely annual requests for renewal of its Liquidity Agreement during the term of this Agreement, provided that no such renewal shall be required to extend the term of a Liquidity Agreement beyond the Expiration Date.

Purchase Limits. Subject to the terms and conditions hereof, from the date hereof until the earlier of (i) the Expiration Date and (ii) the reduction of the Liberty Maximum Net Investment or the TRFCO Maximum Net Investment, as the case may be, to zero pursuant to Section 2.03 hereof, the Seller may at its option sell to a Buyerthe Buyers, and such Buyer agrees the Buyers agree to purchase from the Seller (such agreement being referred to herein as the "Purchase Obligation") ), at any time and from time to time on and after the date hereof and to but excluding the Expiration Date, undivided percentage ownership interests in the Receivables Pool by the Seller selling and such Buyer purchasing a the Participation Interest in such Receivables Pool. Subject to the terms and conditions hereof, such Buyer shall also (i) make Reinvestments by permitting the Servicer to cause Collections allocated to such Buyer to be applied to the purchase of additional undivided percentage ownership interests in the Receivables Pool, and (ii) increase the Liberty its Net Investment or the TRFCO Net Investment, as the case may be, in the applicable its Participation Interest on any Settlement Date, or as otherwise set forth herein, Date at the request of the Seller (without regard to a minimum amount). A No Buyer shall not purchase a Participation Interest on the Closing Date, or permit a Reinvestment to be made on any day, or increase the Liberty its Net Investment or the TRFCO Net Investment, as the case may beon any Settlement Date, to the extent that the amount of such purchase, Reinvestment or increase shall cause (i) the Aggregate Net Investment (after giving effect to such purchase, Reinvestment or increase) to exceed the applicable Purchase Availability AmountAggregate Maximum Net Investment then in effect, (ii) the Net Investment of a Buyer (after giving effect to such purchase, Reinvestment or shall cause increase) to exceed the Maximum Net Investment of such Buyer then in effect or (iii) the Aggregate Buyer's Allocations Buyers' Allocation (after giving effect to such purchase, Reinvestment or increase) to exceed 100%. Neither Liberty nor TRFCO No Buyer shall be obligated to increase the Liberty Maximum Net Investment or the TRFCO its Maximum Net Investment, as the case may be. A No Buyer shall not purchase a Participation Interest, make a Reinvestment, or increase Interest if the Liberty Net Investment or the TRFCO Net Investment, as the case may be, if such Buyer cannot can neither issue its commercial paper notes or short-term promissory notes or nor otherwise borrow in order to fund the Purchase Price of such Participation Interest, such Reinvestment or such increase, or to make any such purchase, purchase or any Reinvestment or increase its Net Investment on any Settlement Date at or after the earlier to occur of (i) the Expiration Date, and (ii) the reduction of the Maximum Net Investment to zero pursuant to Section 2.03 hereof. So long as no Termination Event or Potential Termination Event For the avoidance of doubt, each increase in a Buyer's Net Investment under this Agreement shall have occurred and be continuing, deemed to be a purchase by such Buyer shall make timely annual requests for renewal of its Liquidity Agreement during the term of under this Agreement, provided that no such renewal shall be required to extend the term of a Liquidity Agreement beyond the Expiration Date.