Take-outs Sample Clauses

Take-outs. (a) On any Business Day, the Borrower shall have the right to prepay all or a portion of the Loans Outstanding and require the Administrative Agent to release its security interest and Lien on the related Receivables, subject to the following terms and conditions: (i) the Borrower shall have given the Administrative Agent, each Agent, the Servicer and the Backup Servicer at least ten Business Days' prior written notice of its intent to effect the related Take-out; (ii) unless a Take-out is to be effected on a Payment Date (in which case the relevant calculations with respect to such Take-out shall be reflected on the applicable Monthly Report), the initial Servicer shall deliver to the Administrative Agent (A) a Take-out Date Certificate (which shall include a calculation of the Borrowing Base after giving effect to such Take-out), together with evidence to the reasonable satisfaction of the Administrative Agent that the Borrower shall have sufficient funds on the related Take-out Date to effect such Take-out in accordance with this Agreement, which funds may come from the proceeds of sales of the Receivables in connection with such Take-out and (B) a computer tape of the Receivables, both before and after giving effect to such Take-out; (iii) on the related Take-out Date, the following shall be true and correct and the Borrower shall be deemed to have certified that after giving effect to the Take- out and the release to the Borrower of the related Receivables on the related Take- out Date, (A) no Borrowing Base Deficiency exists, (B) neither an Unmatured Termination Event nor a Termination Event has occurred, nor will either result from such Take-out, (C) the fractional portion of the Eligible Pool Balance that represents the aggregate Adjusted Principal Balance of all Delinquent Receivables constituting Collateral will be no greater than 150% of the fractional portion of the Eligible Pool Balance that was represented by the aggregate Adjusted
Sample 1
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Take-outs. (a) On any Take-Out Date, the Agent, with the consent of the Servicer, may direct the Servicer (on behalf of the Seller and the Agent) to sell the Contracts (or a portion thereof equal to at least the amount necessary to permit the Servicer to exercise its purchase rights pursuant to Section 2.05) to the Person designated by the Agent, with the consent of the Servicer, for the Fair Market Value thereof in connection with a Take-Out Securitization. All Take-Out Proceeds received from such a Take-Out Securitization shall be immediately deposited in the Collection Account for distribution pursuant to Section 5.02(d). In the event that the Fair Market Value of the Contracts subject to any such Take-Out Securitization would be less than the Minimum Purchase Price on the proposed Take-Out Date, the Agent shall have the right to (i) with the consent of the Investor and the Banks, purchase the Contracts subject to the Take-Out Securitization for the Fair Market Value thereof or (ii) notify the Seller that the Investors and the Banks will not purchase any additional Receivable Interests hereunder. In the event that (A) the Agent exercises its option pursuant to clause (i) of the immediately preceding sentence, (x) the Agent shall deposit into the Collection Account an amount equal to the Fair Market Value of the Contracts (for distribution in accordance with the provisions of Section 5.02(d)) and (y) the Seller's interest in such Contracts and in the related Receivables shall be deemed canceled without requirement for any future actions or (B) the Agent exercises its option pursuant to clause (ii) of the immediately preceding sentence, the Seller shall retain title to the Contracts subject to the Take-Out Securitization (subject to the Banks and the Investors Receivable Interests in the related Receivables), and all amounts in the Collection Account to be distributed on succeeding Distribution Dates shall be distributed in accordance with Section 5.02(c).
Sample 1
Take-outs. (a) On any Business Day, the Borrower shall have the right to prepay all or a portion of the Loans Outstanding and require the Administrative Agent to release its security interest and Lien on the related Receivables, subject to the following terms and conditions: (i) the Borrower shall have given the Administrative Agent, each Agent, the Servicer and the Backup Servicer at least ten Business Days' prior written notice of its intent to effect the related Take-out; (ii) unless a Take-out is to be effected on a Payment Date (in which case the relevant calculations with respect to such Take-out shall be reflected on the applicable Monthly Report), the initial Servicer shall deliver to the Administrative
Sample 1

Related to Take-outs

  • Floor Load Tenant shall not place a load upon any floor of the Premises that exceeds 50 pounds per square foot “live load”. Landlord reserves the right to reasonably designate the position of all Equipment which Tenant wishes to place within the Premises, and to place limitations on the weight thereof.

  • Speed (a) The Contract Price shall not be affected or changed by reason of the trial speed (as determined according to the SPECIFICATIONS being less than the guaranteed speed, if such variation is not more than Two-Tenths (2/10) of One (1) knot.

  • Noise At no time may the Lessee make or allow the making of any disturbing or stimulating noise in the Object, or make any music or noise (including broadcasting or voice produced by any device or equipment that can generate or copy, receive or record) audible from outside the Object.

  • FLOORING Grade and quality of carpeting to be selected by Landlord, with color to be selected by Tenant from those offered by Landlord.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Floor Loading Floor loading capacity shall be within building design capacity. Tenant may exceed floor loading capacity with Landlord’s consent, at Landlord’s sole discretion and must, at Tenant’s sole cost and expense, reinforce the floor as required for such excess loading.

  • Shortages Claims for shortages in the amount of Products shipped by Patheon will be dealt with by reasonable agreement of the parties.

  • Site Visits DOE’s authorized representatives have the right to make site visits at reasonable times to review project accomplishments and management control systems and to provide technical assistance, if required. You must provide, and must require your subawardees to provide, reasonable access to facilities, office space, resources, and assistance for the safety and convenience of the government representatives in the performance of their duties. All site visits and evaluations must be performed in a manner that does not unduly interfere with or delay the work.

  • Benchmark Unavailability Period Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a SOFR Borrowing of, conversion to or continuation of SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Base Rate.

  • Ceilings The obligation of Sellers to indemnify the Buyer Indemnitees pursuant to (A) Sections 9.02(a)(i) (other than with respect to any breach of the Fundamental Representations, a failure to perform any Post-Closing Covenant or the special warranty contained in Section 3.01(c)) shall not exceed, in the aggregate fifteen percent (15%) of the unadjusted Purchase Price, and (B) Section 9.02(a)(viii) shall not, with respect to any Property affected by the failure to obtain the applicable Third Party Consent, exceed the Allocated Value of such Property.

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