Reinvestment Purchases. Unless an Uncommitted Purchaser has provided to the Agent, its Purchaser Agent, the Seller, and the Servicer a notice (which notice shall be delivered not less than one Business Day prior to the cessation of Reinvestment Purchases) still in effect that it no longer wishes to make Reinvestment Purchases (in which case such Uncommitted Purchaser’s Reinvestment Purchases, but not those of its Related Bank Purchasers, if any, or any Committed Purchaser, shall cease), at any time before the Termination Date when no Interim Liquidation is in effect, then on each day that any Collections are received by the Servicer a Purchaser’s Purchase Interest in such Collections shall automatically be used to make a Reinvestment Purchase by such Purchaser, but only to the extent such Reinvestment Purchase would not cause such Purchaser’s Investment to increase above the amount of such Investment at the start of the day plus any Incremental Purchases made by such Purchaser on that day. An Uncommitted Purchaser may revoke any notice provided under the first sentence of this Section 1.1(d) by notifying the Agent, its Purchaser Agent, the Seller, and the Servicer that it will make Reinvestment Purchases. If at any time any Uncommitted Purchaser other than USF Assurance delivers a notice that it no longer wishes to make Reinvestment Purchases pursuant to this Section 1.1(d) and USF Assurance then, or at any time during the related Liquidation Period, holds any Investment, then USF Assurance shall be deemed to have delivered the same notice at the same time and Reinvestment Purchases shall cease for such Uncommitted Purchaser and USF Assurance at the same time and for the same period. USF Assurance may not revoke any such notice deemed to have been given pursuant to the preceding sentence until such time as the Uncommitted Purchaser which gave the notice pursuant to the first sentence of this Section 1.1(d) has revoked its notice.
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Reinvestment Purchases. Unless an Uncommitted Purchaser has provided Subject to Section 3.03 hereof, on each Business Day occurring after the Agentinitial Incremental Purchase or Reimbursement Purchase, its Purchaser Agent, the Sellerwhichever first occurs hereunder, and the Servicer a notice (which notice shall be delivered not less than one Business Day prior to the cessation Termination Date, the Seller hereby sells as set forth in Section 2.01 to the Facility Agents, for the benefit of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment PurchasesPurchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) still in effect that it no longer wishes the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each such day shall be equal to make Reinvestment Purchases (in which case the amount of the Aggregate Net Investment of such Uncommitted Purchaser’s Reinvestment PurchasesFacility Agents, but not those for the benefit of its Related Bank the related Purchasers, at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase or Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or any Committed 2.15(b) hereof made on such day, if any, and (ii) such Facility Agent’s (for the benefit of its related Purchaser, shall cease)) Purchase Group Net Investment, at any time before the Termination Date when no Interim Liquidation is in effect, then on end of each such day that any Collections are received by the Servicer a Purchaser’s Purchase Interest in such Collections shall automatically be used to make a Reinvestment Purchase by such Purchaser, but only equal to the extent amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase or Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase would not cause such Purchaser’s Investment to increase above shall be allocated among the amount Facility Agents (for the benefit of such Investment at their related Purchasers) pro rata in accordance with the start Purchase Group Percentage of the day plus any Incremental Purchases made by such Purchaser on that day. An Uncommitted Purchaser may revoke any notice provided under the first sentence of this Section 1.1(d) by notifying the Agent, its Purchaser Agent, the Seller, and the Servicer that it will make Reinvestment Purchases. If at any time any Uncommitted Purchaser other than USF Assurance delivers a notice that it no longer wishes to make Reinvestment Purchases pursuant to this Section 1.1(d) and USF Assurance then, or at any time during the related Liquidation Period, holds any Investment, then USF Assurance shall be deemed to have delivered the same notice at the same time and Reinvestment Purchases shall cease for such Uncommitted Purchaser and USF Assurance at the same time and for the same period. USF Assurance may not revoke any such notice deemed to have been given pursuant to the preceding sentence until such time as the Uncommitted Purchaser which gave the notice pursuant to the first sentence of this Section 1.1(d) has revoked its noticePurchase Group.
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Reinvestment Purchases. Unless an Uncommitted Purchaser has provided Subject to Section 3.03 hereof, on each Business Day occurring after the Agentinitial Purchase, its Purchaser Agent, the Sellerwhichever first occurs hereunder, and the Servicer a notice (which notice shall be delivered not less than one Business Day prior to the cessation Termination Date, the Seller hereby sells as set forth in Section 2.01 to the Facility Agents, for the benefit of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment PurchasesPurchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) still in effect that it no longer wishes the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each such day shall be equal to make Reinvestment Purchases (in which case the amount of the Aggregate Net Investment of such Uncommitted Purchaser’s Reinvestment PurchasesFacility Agents, but not those for the benefit of its Related Bank the related Purchasers, at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or any Committed 2.15(b) hereof made on such day, if any, and (ii) such Facility Agent’s (for the benefit of its related Purchaser, shall cease)) Purchase Group Net Investment, at any time before the Termination Date when no Interim Liquidation is in effect, then on end of each such day that any Collections are received by the Servicer a Purchaser’s Purchase Interest in such Collections shall automatically be used to make a Reinvestment Purchase by such Purchaser, but only equal to the extent amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase would not cause such Purchaser’s Investment to increase above shall be allocated among the amount Facility Agents (for the benefit of such Investment at the start their related Purchasers) based on their respective Exposure Amounts as a percentage of the day plus any Incremental Purchases made by Aggregate Exposure Amount on such Purchaser on that day. An Uncommitted Purchaser may revoke any notice provided under the first sentence of this Section 1.1(d) by notifying the Agent, its Purchaser Agent, the Seller, and the Servicer that it will make Reinvestment Purchases. If at any time any Uncommitted Purchaser other than USF Assurance delivers a notice that it no longer wishes to make Reinvestment Purchases pursuant to this Section 1.1(d) and USF Assurance then, or at any time during the related Liquidation Period, holds any Investment, then USF Assurance shall be deemed to have delivered the same notice at the same time and Reinvestment Purchases shall cease for such Uncommitted Purchaser and USF Assurance at the same time and for the same period. USF Assurance may not revoke any such notice deemed to have been given pursuant to the preceding sentence until such time as the Uncommitted Purchaser which gave the notice pursuant to the first sentence of this Section 1.1(d) has revoked its notice.
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Reinvestment Purchases. Unless an Uncommitted Purchaser has provided Subject to Section 3.03 hereof, on each Business Day occurring after the Agentinitial Incremental Purchase or Reimbursement Purchase, its Purchaser Agent, the Sellerwhichever first occurs hereunder, and the Servicer a notice (which notice shall be delivered not less than one Business Day prior to the cessation Termination Date, the Seller hereby sells as set forth in Section 2.01 to the Facility Agents, for the benefit of the applicable Purchaser(s), and each Facility Agent shall, on behalf of the related Purchaser(s), purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment PurchasesPurchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) still in effect that it no longer wishes the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchaser(s), at the end of each such day shall be equal to make Reinvestment Purchases (in which case the amount of the Aggregate Net Investment of such Uncommitted Purchaser’s Reinvestment PurchasesFacility Agents, but not those for the benefit of its Related Bank Purchasersthe related Purchaser(s), at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase or Reimbursement Purchase made on such day, if any, or any Committed Purchaser, shall ceaseminus the reduction in Aggregate Net Investment pursuant to Section 2.08(b), 2.09, 2.15(b) or 2.16 hereof made on such day, if any, and (ii) such Facility Agent’s (for the benefit of its related Purchaser(s)) Purchase Group Net Investment, at any time before the Termination Date when no Interim Liquidation is in effect, then on end of each such day that any Collections are received by the Servicer a Purchaser’s Purchase Interest in such Collections shall automatically be used to make a Reinvestment Purchase by such Purchaser, but only equal to the extent amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase or Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08(b), 2.09, 2.15(b) or 2.16 hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase would not cause such Purchaser’s Investment to increase above shall be allocated among the amount of such Investment at Facility Agents pro rata in accordance with the start Purchase Group Percentage of the day plus any Incremental Purchases made by such Purchaser on that day. An Uncommitted Purchaser may revoke any notice provided under the first sentence of this Section 1.1(d) by notifying the Agent, its Purchaser Agent, the Seller, and the Servicer that it will make Reinvestment Purchases. If at any time any Uncommitted Purchaser other than USF Assurance delivers a notice that it no longer wishes to make Reinvestment Purchases pursuant to this Section 1.1(d) and USF Assurance then, or at any time during the related Liquidation Period, holds any Investment, then USF Assurance shall be deemed to have delivered the same notice at the same time and Reinvestment Purchases shall cease for such Uncommitted Purchaser and USF Assurance at the same time and for the same period. USF Assurance may not revoke any such notice deemed to have been given pursuant to the preceding sentence until such time as the Uncommitted Purchaser which gave the notice pursuant to the first sentence of this Section 1.1(d) has revoked its noticePurchase Group.
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Reinvestment Purchases. Unless an Uncommitted Purchaser has provided to the Agent, its Purchaser Agent, the Seller, and the Servicer a notice (On each date on which notice shall be delivered not less than one Business Day prior to the cessation of Reinvestment Purchases) still in effect that it no longer wishes to make Reinvestment Purchases (in which case such Uncommitted Purchaser’s Reinvestment Purchases, but not those of its Related Bank Purchasers, if any, or any Committed Purchaser, shall cease), at any time before the Termination Date when no Interim Liquidation is in effect, then on each day that any Collections are received by the Servicer prior to the Termination Date, the Seller hereby requests and the Purchasers hereby agree to make, simultaneously with such receipt and out of Collections available for such purpose pursuant to Article IV, a Purchaser’s Purchase reinvestment (each a "Reinvestment Purchase"), with that portion of each and every Collection received by the Servicer that is part of any Ownership Interest and this is not otherwise allocated hereunder. Upon such Reinvestment Purchase, the Seller shall Transfer to the Agent on behalf of the Purchasers, in accordance with Section 3.06, and in consideration of such Collections shall automatically be used available Collections, an Ownership Interest so that, as a result of and after giving effect to make a such Reinvestment Purchase, the amount of Investment of such Ownership Interest immediately after such receipt and corresponding Reinvestment Purchase by shall be equal to the amount of Investment immediately prior to receipt of such Purchaseravailable Collections, but only provided that if and to the extent that on any such date after giving effect to such Reinvestment Purchase, the aggregate of the Ownership Interests of the Purchasers would otherwise exceed 100%, such Reinvestment Purchase would shall not cause such Purchaser’s Investment to increase above the amount of such Investment at the start of the day plus any Incremental Purchases made by such Purchaser on that day. An Uncommitted Purchaser may revoke any notice provided under the first sentence of this Section 1.1(d) by notifying the Agent, its Purchaser Agent, the Seller, occur and the Servicer that it will make Reinvestment Purchases. If at any time any Uncommitted Purchaser other than USF Assurance delivers a notice that it no longer wishes to make Reinvestment Purchases pursuant to this Section 1.1(d) shall set aside and USF Assurance then, or at any time during the related Liquidation Period, holds any Investment, then USF Assurance shall be deemed to have delivered hold in trust for the same notice at benefit of the same time and Purchasers all or such portion of such available Collections which, if they were applied to reduce the Investments of the Purchasers, would result in the aggregate of the Ownership Interests of the Purchasers being equal to 100%, until the next date on which Reinvestment Purchases may be made as contemplated hereinabove, on which date such Reinvestment Purchases shall cease for be made, subject again to application of this proviso (each a "Deferred Reinvestment Purchase"). Upon such Uncommitted Purchaser and USF Assurance at Reinvestment Purchase or Deferred Reinvestment Purchase, the same time and Servicer shall hold the applicable Collections for the same periodbenefit of the Seller. USF Assurance may not revoke any such notice deemed to have been given pursuant The Transfer of the applicable Ownership Interest to the preceding sentence until such time Agent on behalf of the applicable Purchaser shall occur as the Uncommitted Purchaser which gave the notice pursuant to the first sentence of this provided in Section 1.1(d) has revoked its notice3.06.
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Reinvestment Purchases. Unless an Uncommitted Purchaser has provided Subject to Section 3.03 hereof, on each Business Day occurring after the Agentinitial Incremental Purchase or Reimbursement Purchase, its Purchaser Agent, the Sellerwhichever first occurs hereunder, and the Servicer a notice (which notice shall be delivered not less than one Business Day prior to the cessation Termination Date, the Seller hereby sells as set forth in Section 2.01 to the Facility Agents, for the benefit of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment PurchasesPurchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) still in effect that it no longer wishes the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each such day shall be equal to make Reinvestment Purchases (in which case the amount of the Aggregate Net Investment of such Uncommitted Purchaser’s Reinvestment PurchasesFacility Agents, but not those for the benefit of its Related Bank the related Purchasers, at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or any Committed 2.15(b) hereof made on such day, if any, and (ii) such Facility Agent’s (for the benefit of its related Purchaser, shall cease)) Purchase Group Net Investment, at any time before the Termination Date when no Interim Liquidation is in effect, then on end of each such day that any Collections are received by the Servicer a Purchaser’s Purchase Interest in such Collections shall automatically be used to make a Reinvestment Purchase by such Purchaser, but only equal to the extent amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase would not cause such Purchaser’s Investment to increase above the amount of such Investment at the start of the day plus any Incremental Purchases made by such Purchaser on that day. An Uncommitted Purchaser may revoke any notice provided under the first sentence of this Section 1.1(d) by notifying the Agent, its Purchaser Agent, the Seller, and the Servicer that it will make Reinvestment Purchases. If at any time any Uncommitted Purchaser other than USF Assurance delivers a notice that it no longer wishes to make Reinvestment Purchases pursuant to this Section 1.1(d) and USF Assurance then, or at any time during the related Liquidation Period, holds any Investment, then USF Assurance shall be deemed to have delivered the same notice at the same time and Reinvestment Purchases shall cease for such Uncommitted Purchaser and USF Assurance at the same time and for the same period. USF Assurance may not revoke any such notice deemed to have been given pursuant to the preceding sentence until such time as the Uncommitted Purchaser which gave the notice pursuant to the first sentence of this Section 1.1(d) has revoked its notice.be
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Reinvestment Purchases. Unless an Uncommitted Purchaser has provided to the Agent, its Purchaser Agent, the Seller, and the Servicer a notice (which notice shall be delivered not less than one Business Day prior to the cessation of Reinvestment Purchases) still in effect that it no longer wishes to make Reinvestment Purchases (in which case such Uncommitted Purchaser’s Reinvestment Purchases, but not those of its Related Bank Purchasers, if any, or any Committed Purchaser, shall cease), at At any time before the Termination Date when no Interim Liquidation is in effect, then on each day that any Collection or Collections are received by the Servicer Collection Agent after the initial purchase of a Purchaser’s Purchase Receivable Interest in hereunder and on or prior to the Liquidation Day of such Collections Receivable Interest (and subject to the provisions of Section 1.8 hereof), the Seller hereby requests and the Purchasers hereby agree to make, simultaneously with such receipt, a reinvestment (each a “Reinvestment”) with that portion of each and every Collection received by the Collection Agent that is allocable to such Receivable Interest, such that after giving effect to such Reinvestment, the amount of the Capital of such Receivable Interest immediately after any such receipt and corresponding Reinvestment shall automatically be used equal to the amount of the Capital immediately prior to such receipt; provided that, a Conduit (or its Managing Agent on its behalf) may at any time notify the Seller that it will cease to make Reinvestment Purchases and such Conduit shall thereafter cease to make such Reinvestment Purchases. If any Conduit notifies the Seller that it will cease to make Reinvestment Purchases and such Conduit thereafter ceases to make a Reinvestment Purchase, Seller may deliver a Purchase by Notice, as defined in Section 1.2, to such Purchaser, but only to the extent such Reinvestment Purchase would not cause such PurchaserConduit’s Investment to increase above the amount of such Investment at the start of the day plus any Incremental Purchases made by such Purchaser on that day. An Uncommitted Purchaser may revoke any notice provided under the first sentence of this Section 1.1(d) by notifying the related Managing Agent, its Purchaser Agent, the Seller, and the Servicer Investors in such Conduit’s Purchase Group shall, subject to the other terms and conditions of this Agreement, make a new purchase of Receivable Interests by the third Business Day following such Purchase Notice in an amount equal to the Reinvestment Purchase that it will make Reinvestment Purchases. If at any time any Uncommitted Purchaser other than USF Assurance delivers a notice that it no longer wishes such Conduit declined to make Reinvestment Purchases pursuant to this Section 1.1(d) and USF Assurance then, or at any time during the related Liquidation Period, holds any Investment, then USF Assurance (which amount shall be deemed to have delivered the same notice at the same time and Reinvestment Purchases shall cease for set forth in such Uncommitted Purchaser and USF Assurance at the same time and for the same period. USF Assurance may not revoke any such notice deemed to have been given pursuant to the preceding sentence until such time as the Uncommitted Purchaser which gave the notice pursuant to the first sentence of this Section 1.1(d) has revoked its noticePurchase Notice).
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Samples: Receivables Purchase Agreement (Bon Ton Stores Inc)
