Common use of Purchaser hereunder Clause in Contracts

Purchaser hereunder. Each affected Class A-1 Purchaser hereby agrees to take , at the Issuer's expense, all actions necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing, (i) if the Class A-1 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the related CP Conduit and (ii) if the Class A-1 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to all related Committed Purchasers; and it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A-1 Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In the event that a proposed Replacement Purchaser designated by the Issuer and approved by the applicable Agent and the Administrative Agent as provided in this subsection is not acceptable to the applicable CP Conduit or the applicable Committed Purchasers, as applicable, or has not within a reasonable period entered into applicable Support Facilities, and another replacement Class A-1 Purchaser has not been promptly procured as provided in this subsection with the consent of all affected parties, then any Class A-1 Purchaser which failed to consent to such replacement or to enter into such Support Facilities may be replaced by a Replacement Purchaser as provided in this subsection.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

AutoNDA by SimpleDocs

Purchaser hereunder. Each affected Class A-1 A-2 Purchaser hereby agrees to take take, at the Issuer's expense, all actions necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing, (i) if the Class A-1 A-2 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to such the related CP Conduit and (ii) if the Class A-1 A-2 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to all related Committed Purchasers; and it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A-1 A-2 Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In the event that a proposed Replacement Purchaser designated by the Issuer and approved by the applicable Agent and the Administrative Agent as provided in this subsection is not acceptable to the applicable CP Conduit or the applicable Committed Purchasers, as applicable, or has not within a reasonable period entered into applicable Support Facilities, and another replacement Class A-1 A-2 Purchaser has not been promptly procured as provided in this subsection with the consent of all affected parties, then any Class A-1 A-2 Purchaser which failed to consent to such replacement or to enter into such Support Facilities may be replaced by a Replacement Purchaser as provided in this subsection.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

Purchaser hereunder. Each affected Class A-1 Purchaser hereby agrees to take , at the Issuer's expense, all actions necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing, (i) if the Class A-1 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the related CP Conduit and (ii) if the Class A-1 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to all related Committed Purchasers; and it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A-1 Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In the event that a proposed Replacement Purchaser designated by the Issuer and approved by the applicable Agent and the Administrative Agent as provided in this subsection is not acceptable to the applicable CP Conduit or the applicable Committed Purchasers, as applicable, or has not within a reasonable period entered into applicable Support Facilities, and another replacement Class A-1 Purchaser has not been promptly procured as provided in this subsection with the consent of all affected parties, then any Class A-1 Purchaser which failed to consent to such replacement or to enter into such Support Facilities may be replaced by a Replacement Purchaser as provided in this subsection.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

Purchaser hereunder. Each affected Class A-1 A-2 Purchaser hereby agrees to take , at the Issuer's expense, all actions necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing, (i) if the Class A-1 A-2 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the related CP Conduit and (ii) if the Class A-1 A-2 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to all related Committed Purchasers; and it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A-1 A-2 Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In the event that a proposed Replacement Purchaser designated by the Issuer and approved by the applicable Agent and the Administrative Agent as provided in this subsection is not acceptable to the applicable CP Conduit or the applicable Committed Purchasers, as applicable, or has not within a reasonable period entered into applicable Support Facilities, and another replacement Class A-1 A-2 Purchaser has not been promptly procured as provided in this subsection with the consent of all affected parties, then any Class A-1 A-2 Purchaser which failed to consent to such replacement or to enter into such Support Facilities may be replaced by a Replacement Purchaser as provided in this subsection.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

AutoNDA by SimpleDocs

Purchaser hereunder. Each affected Class A-1 Purchaser hereby agrees to take , at the Issuer's expense, all actions reasonably necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoingforegoing or the provisions of subsection 8.1(j), (i) if the Class A-1 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the related CP Conduit in its Purchaser Group in its sole discretion and (ii) if the Class A-1 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to all related each Committed Purchasers; Purchaser in its Purchaser Group and to the Administrative Agent in their sole discretion, and in either such case it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A-1 A Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In addition, if the event that a proposed Replacement Class A-1 Purchaser designated by the Issuer and approved by the applicable to be replaced is an Agent and or the Administrative Agent as provided in this subsection or is not acceptable to the applicable a CP Conduit which is administered or sponsored by an Agent or the applicable Committed PurchasersAdministrative Agent, it shall be a condition of such replacement that a replacement Agent or Administrative Agent shall have been appointed in accordance with Section 7.9, and the Agent or Administrative Agent to be replaced shall have been paid all amounts owing to it as Agent or Administrative Agent, as applicable, or has not within a reasonable period entered into applicable Support Facilities, and another replacement Class A-1 Purchaser has not been promptly procured as provided in pursuant to this subsection with the consent of all affected parties, then any Class A-1 Purchaser which failed to consent to such replacement or to enter into such Support Facilities may be replaced by a Replacement Purchaser as provided in this subsectionAgreement.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

Purchaser hereunder. Each affected Class A-1 A-2 Purchaser hereby agrees to take , at the Issuer's expense, all actions reasonably necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoingforegoing or the provisions of subsection 8.1(j), (i) if the Class A-1 A-2 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the related CP Conduit in its Purchaser Group in its sole discretion and (ii) if the Class A-1 A-2 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to all related each Committed Purchasers; Purchaser in its Purchaser Group and to the Administrative Agent in their sole discretion, and in either such case it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A-1 A Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In addition, if the event that a proposed Replacement Class A-2 Purchaser designated by the Issuer and approved by the applicable to be replaced is an Agent and or the Administrative Agent as provided in this subsection or is not acceptable to the applicable a CP Conduit which is administered or sponsored by an Agent or the applicable Committed PurchasersAdministrative Agent, it shall be a condition of such replacement that a replacement Agent or Administrative Agent shall have been appointed in accordance with Section 7.9, and the Agent or Administrative Agent to be replaced shall have been paid all amounts owing to it as Agent or Administrative Agent, as applicable, or has not within a reasonable period entered into applicable Support Facilities, and another replacement Class A-1 Purchaser has not been promptly procured as provided in pursuant to this subsection with the consent of all affected parties, then any Class A-1 Purchaser which failed to consent to such replacement or to enter into such Support Facilities may be replaced by a Replacement Purchaser as provided in this subsectionAgreement.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

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