Master Purchaser definition
Examples of Master Purchaser in a sentence
Each Seller hereby irrevocably consents to the Master Purchaser (or the Funding Agent on its behalf) or the Security Trustee at any time after the occurrence of a Termination Event, for its own benefit commencing proceedings in the name of such Seller in respect of any of the Purchased Receivables.
The Sellers wish to sell and the Master Purchaser wishes to purchase all the Receivables originated by the Sellers from time to time by virtue of the Sale of Products to Obligors located in Eligible Countries on the terms and subject to the conditions set out in this Agreement.
For the avoidance of doubt, upon the date of delivery of a Termination Event Notice, the Programme Termination Date shall have occurred and on such date the Master Purchaser shall have no further obligation to purchase any further Receivables from the Sellers.
It will not deposit or otherwise credit, or cause to be deposited or credited, to any Master Purchaser Account, cash or cash proceeds other than Collections.
The Master Purchaser shall not be obliged to pay any sum to a Seller in respect of the Purchase Price of a Purchased Receivable except as provided for in this Clause 3.