The Initial Purchase Price Payment. (a) On or prior to the Initial Closing Date, the Initial Purchaser shall pay the Purchase Price for the purchase to be made from each Originator with respect to the Receivables existing on or prior to the Initial Cut-Off Date (other than the Initial Contributed Receivables) (i) in cash in an amount equal to such Originator's pro rata share (based on the ratio of the Unpaid Balance of the Receivables sold on such date generated by such Originator to the aggregate Unpaid Balance of the Receivables sold on such date generated by all of the Originators) the amount received by the Initial Purchaser from the Purchaser in connection with the first Purchase made pursuant to the Receivables Purchase Agreement and (ii) by the issuance of a promissory note in the form of Exhibit B to this Agreement payable to the order of such Originator in the initial principal amount equal to the remainder of the Purchase Price owing after subtracting the amount paid in cash (such promissory note together with the promissory note issued to any other Originator hereunder, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with any promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being called an "Initial Purchaser Note"), each of which Initial Purchaser Notes shall, in accordance with its terms, be subordinated to all interests in Pool Receivables and Related Rights and all obligations of the Initial Purchaser, of any nature, whether now or hereafter arising under or in connection with the Receivables Purchase Agreement.
The Initial Purchase Price Payment. (a) Buyer paid a portion of the purchase price for Receivables sold under the Original Purchase Agreement by the issuance of a subordinated note thereunder (the "Original Subordinated Note"), the principal balance of which as -------------------------- of the date hereof is $116,749,117. Such Original Subordinated Note shall be replaced by a promissory note in the form of Exhibit B to this Agreement payable --------- to the order of COMPUCOM in the initial principal amount equal to the outstanding principal balance of the Original Subordinated Note as of the date hereof (such promissory note, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with any promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being called an "Buyer ----- Note"), which Buyer Note shall, in accordance with its terms, be subordinated to ---- all interests in Receivables and Related Rights and all obligations of the Buyer, of any nature, whether now or hereafter arising under or in connection with the Pooling and Servicing Agreement.
