Common use of Voluntary Terminations Clause in Contracts

Voluntary Terminations. (a) Upon the occurrence and during the continuation of a Purchase and Sale Termination Event with respect to any Originator or an Event of Default, the sale and contribution of Receivables and Related Rights by such Originator pursuant to this Agreement may be terminated by the Buyer, with the prior written consent of the Administrative Agent and notice to the Originators, at any time when the Aggregate Capital is equal to zero. (b) Any Originator may, at any time and in its sole discretion with thirty days’ prior written notice to the Buyer and the Administrative Agent (any such notice, a “Voluntary Termination Notice”), terminate the sale and contribution of Receivables and Related Rights by such Originator pursuant to this Agreement so long as each of the Voluntary Termination Conditions (as defined below) are satisfied in all respects as of such date of termination; provided, however, that, if any of the Voluntary Termination Conditions are not satisfied in full on or after such date of termination, then such Originator’s election to terminate the sale and contribution of Receivables and Related Rights pursuant to this Agreement shall be null and void and such sales and contributions shall continue hereunder as if such Originator had not elected their termination. (c) For purposes of this Agreement, “Voluntary Termination Conditions” means, as of any date of determination, the satisfaction of each of the following conditions: