Common use of Purchases of Receivables Clause in Contracts

Purchases of Receivables. (a) Effective on the date hereof, in consideration for the Purchase Price and upon the terms and subject to the conditions set forth herein, Originator does hereby sell, assign, transfer, set-over and otherwise convey to Buyer, without recourse (except to the extent expressly provided herein), and Buyer does hereby purchase from Originator, all of Originator’s right, title and interest in and to all Receivables existing as of the close of business on the Business Day immediately prior to the date hereof and all Receivables thereafter arising through and including the Termination Date, together, in each case, with all Related Security relating thereto and all Collections thereof. In accordance with the preceding sentence, on the date hereof Buyer shall acquire all of Originator’s right, title and interest in and to all Receivables existing as of the close of business on the Business Day immediately prior to the date hereof and thereafter arising through and including the Termination Date, together with all Related Security relating thereto and all Collections thereof. Buyer shall be obligated to pay the Purchase Price for each Receivable, its Related Security and Collections in accordance with Section 1.2. In connection with the payment of the Purchase Price for any Receivables purchased hereunder, Buyer may request that Originator deliver, and Originator shall deliver, such approvals, opinions, information, reports or documents as Buyer may reasonably request.

Purchases of Receivables. (a) Effective on the date hereofOn each Purchase Date hereunder, in consideration for the Purchase Price and upon the terms and subject to the conditions set forth herein, Originator does hereby shall sell, assign, transfer, set-over and otherwise convey to Buyer, without recourse (except to the extent expressly provided herein), and Buyer does hereby shall purchase from Originator, all of Originator’s 's right, title and interest in and to all Receivables existing as identified in the related Schedule of the close of business on the Business Day immediately prior to the date hereof and all Receivables thereafter arising through and including the Termination DateReceivables, together, in each case, together with all Related Security relating thereto and all Collections thereof; provided, however, that in no event shall Buyer be obligated to purchase, or Originator be obligated to sell, any Receivable arising after the Amortization Date. In accordance with the preceding sentence, on the date hereof of the initial Purchase, Buyer shall acquire all of Originator’s 's right, title and interest in and to all Receivables existing as identified in the related Schedule of the close of business on the Business Day immediately prior to the date hereof and thereafter arising through and including the Termination DateReceivables, together with all Related Security relating thereto and all Collections thereof. The acquisition by Buyer shall be obligated of the right, title and interest of Originator in the applicable Receivables in connection with each Purchase hereunder is conditioned upon and subject to pay Originator's receipt of the Purchase Price for each Receivable, its Related Security and Collections therefor in accordance with Section 1.2. In connection with the payment of the Purchase Price for any Receivables purchased hereunder, Buyer may request that Originator deliver, and Originator shall deliver, such approvals, opinions, information, reports or documents as Buyer may reasonably request.