Repurchase Limit. The Repurchase Limit, as of any date and with respect to the Purchased Receivables purchased on such Purchase Date, shall be the sum of (i) the amount obtained by multiplying the co-insurance percentage under the Insurance Policy by the Net Invoice Amount of all the Purchased Receivables purchased hereunder on such date and (ii) the Deductible Limit under the Insurance Policy as of such date.
Appears in 2 contracts
Sources: Uncommitted Insured Trade Receivables Purchase Agreement (Lam Research Corp), Uncommitted Insured Trade Receivables Purchase Agreement (Lam Research Corp)