Common use of The Variable Funding Certificates Clause in Contracts

The Variable Funding Certificates. (a) On the terms and conditions hereinafter set forth, Seller shall deliver a duly executed variable funding certificate (each such certificate, a “Variable Funding Certificate” or “VFC”), in substantially the form of Exhibit B-0, X-0 or B-3, as applicable, (i) on the Closing Date, to the VFCC Agent and the Swingline Purchaser at their respective addresses set forth on the signature pages of this Agreement, and (ii) on each date on which an Additional Purchaser purchases a Variable Funding Certificate, to the related Additional Agent at the address designated by such Additional Agent. Each Variable Funding Certificate shall evidence an undivided ownership interest (and the Seller does hereby sell, transfer, assign and convey such undivided ownership interest to the Purchasers) in the Collateral purchased by a Purchaser in an amount equal, at any time, to the percentage equivalent of a fraction (i) the numerator of which is the Advances outstanding under the applicable VFC on such day, and (ii) the denominator of which is the total aggregate Advances Outstanding on such day. Interest shall accrue, and each VFC shall be payable, as described herein. The VFC purchased by (1) VFCC shall be in the name of “Wachovia Capital Markets, LLC, as the VFCC Agent” and shall be in the face amount equal to $470,000,000 and otherwise duly completed, (2) the Swingline Purchaser shall be in the name of Wachovia Bank, National Association, as the Swingline Purchaser and be in a face amount equal to $0, and (3) an Additional Purchaser shall be in the name of such Additional Purchaser and shall be in a face amount to be determined; provided that the aggregate amount outstanding under all VFCs at any one time shall not exceed the Facility Amount.

The Variable Funding Certificates. (a) On the terms and conditions hereinafter set forth, Seller shall deliver a duly executed variable funding certificate (each such certificate, a “Variable Funding Certificate” or “VFC”), in substantially the form of Exhibit B-0, X-0 or B-3, as applicable, (i) on the Closing Date, to the VFCC Agent and the Swingline Purchaser at their respective addresses set forth on the signature pages of this Agreement, and (ii) on each date on which an Additional Purchaser purchases a Variable Funding Certificate, to the related Additional Agent at the address designated by such Additional Agent. Each Variable Funding Certificate shall evidence an undivided ownership interest (and the Seller does hereby sell, transfer, assign and convey such undivided ownership interest to the Purchasers) in the Collateral purchased by a Purchaser in an amount equal, at any time, to the percentage equivalent of a fraction (i) the numerator of which is the Advances outstanding under the applicable VFC on such day, and (ii) the denominator of which is the total aggregate Advances Outstanding on such day. Interest shall accrue, and each VFC shall be payable, as described herein. The VFC purchased by (1) VFCC shall be in the name of “Wachovia Capital Markets, LLC, as the VFCC Agent” and shall be in the face amount equal to $470,000,000 400,000,000 and otherwise duly completed, (2) the Swingline Purchaser shall be in the name of Wachovia Bank, National Association, as the Swingline Purchaser and be in a face amount equal to $050,000,000, and (3) an Additional Purchaser shall be in the name of such Additional Purchaser and shall be in a face amount to be determined; provided that provided, that, the aggregate amount outstanding under all VFCs at any one time shall not exceed the Facility Amount.

The Variable Funding Certificates. (a) On the terms and conditions hereinafter set forth, Seller shall deliver a duly executed variable funding certificate (each such certificate, a “Variable Funding Certificate” or “VFC”), in substantially the form of Exhibit B-0, X-0 B-1 or B-3B-2, as applicable, (i) on the Closing Date, to the VFCC each Purchaser Agent and the Swingline Purchaser at their respective addresses its address set forth on the signature pages of this Agreement, and (ii) on each date on which an Additional Purchaser purchases a Variable Funding Certificate, to the related Additional Agent at the address designated by such Additional Agent. Each Variable Funding Certificate shall evidence an undivided ownership interest (and the Seller does hereby sell, transfer, assign and convey such undivided ownership interest to the Purchasers) in the Collateral purchased by a Purchaser in an amount equal, at any time, to the percentage equivalent of a fraction (i) the numerator of which is the Advances outstanding under the applicable VFC on such day, and (ii) the denominator of which is the total aggregate Advances Outstanding on such day. Interest shall accrue, and each VFC shall be payable, as described herein. The VFC purchased by (11)(A) VFCC shall be in the name of “Wachovia Capital Markets, LLC, as the VFCC Agent” and shall be in the face amount equal to $470,000,000 and otherwise duly completed400,000,000, (2B) the Swingline Purchaser Fairway, shall be in the name of Wachovia “Hxxxxx Xxxxxxx Corp., as the Fairway Agent” and shall be in the face amount equal to $200,000,000, (C) Park Avenue, shall be in the name of “JPMorgan Chase Bank, National Association, as the Swingline Purchaser Park Avenue Agent” and shall be in a the face amount equal to $0, 200,000,000 and (3D) Three Pillars, shall be in the name of “SunTrust Capital Markets, Inc., as the Three Pillars Agent” and shall be in the face amount equal to $200,000,000 and (2) an Additional Purchaser shall be in the name of such Additional Purchaser and shall be in a face amount to be determined; provided that the aggregate amount outstanding under all VFCs at any one time shall not exceed the Facility Amount.

The Variable Funding Certificates. (a) On the terms and conditions hereinafter set forth, Seller shall deliver a duly executed variable funding certificate (each such certificate, a “Variable Funding Certificate” or “VFC”), in substantially the form of Exhibit B-0, X-0 B-1 or B-3B-2, as applicable, (i) on the Closing Date, to the VFCC Agent and the Swingline Purchaser at their respective addresses its address set forth on the signature pages of Annex A to this Agreement, and (ii) on each date on which an Additional additional Purchaser purchases a Variable Funding Certificate, to the related Additional additional Purchaser Agent at the address designated by such Additional additional Purchaser Agent. Each Variable Funding Certificate shall evidence an undivided ownership interest (and the Seller does hereby sell, transfer, assign and convey each such Certificate representing an undivided ownership interest to the Purchasers) in the Collateral purchased by a Purchaser in an amount equal, at any time, to the percentage equivalent of a fraction (i) the numerator of which is the Advances outstanding under the applicable VFC on such day, and (ii) the denominator of which is the total aggregate Advances Outstanding on such day. Interest shall accrue, and each VFC shall be payable, as described herein. The VFC purchased by (1a) VFCC shall be in the name of “Wachovia Capital Markets, LLC, as the VFCC Agent” and shall be in the face amount equal to $470,000,000 275,000,000 and otherwise duly completed, (2b) the Swingline Purchaser shall be in the name of Wachovia Bank, National Association, as the Swingline Purchaser and be in a face amount equal to $025,000,000, and (3c) an Additional additional Purchaser shall be in the name of such Additional additional Purchaser and shall be in a face amount to be determined; provided provided, that the aggregate amount outstanding under all VFCs at any one time shall not exceed the Facility Amount.