Purchase Availability definition

Purchase Availability means, as of any date of determination, (a) the Maximum Purchase Amount as of such date less (b) the aggregate Purchase Price of Receivables purchased by the Purchaser pursuant to this Agreement (excluding Existing Receivables) since the Closing Date.
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Purchase Availability means, as of any date of determination, an amount equal to the lesser of (a) the Total Commitment then in effect and (b) the amount by which (i) the sum of the (A) Net Receivables Pool Balance, plus (B) the share of the Purchasers of Collections not yet applied to amounts owing under the Transaction Documents, exceeds (ii) the aggregate Capital of the Receivables Interests of the Purchasers plus the Applicable Reserve.
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Examples of Purchase Availability in a sentence

  • The Buyer shall not purchase the Participation Interest on the Closing Date, or permit a Reinvestment to be made on any day, or increase its Net Investment on any Settlement Date, to the extent that the amount of such purchase or Reinvestment shall exceed the Purchase Availability Amount, or shall cause the Buyer's Allocation (after giving effect to such purchase or Reinvestment) to exceed 100%.

  • The Seller shall pay the Buyer any accrued and unpaid Purchase Availability Fee on the date of such reduction with respect to the reduction amount.

  • The accrued Purchase Availability Fee shall be due and payable in accordance with Sections 5.03 and 5.04 hereof until the earlier of the Expiration Date or the date on which the Maximum Net Investment is reduced to zero pursuant to Section 2.03(a) hereof.

  • To the extent the Purchase Availability Fee is not paid from Collections in accordance with Section 5.03 or 5.04 hereof, the Purchase Availability Fee shall be an absolute and unconditional obligation of the Seller.

  • If Tenant fails to deliver the Purchase Offer Notice in accordance with clause (x) above prior to the expiration of the Purchase Availability Response Period, then Tenant shall be deemed to have declined to submit a formal offer for the consummation of a Sale Transaction.

  • A Buyer shall not purchase a Participation Interest on the Closing Date, or permit a Reinvestment to be made on any day, or increase the Liberty Net Investment or the Gotham Net Investment, as the case may be, to the extent that the amount of such purchase, Reinvestment or increase shall exceed the applicable Purchase Availability Amount, or shall cause the Aggregate Buyer’s Allocations (after giving effect to such purchase, Reinvestment or increase) to exceed 100%.

  • Notwithstanding the foregoing, no such Purchase shall be required to be made if, after giving effect thereto, (i) the aggregate outstanding Capital of all Receivables Interests of all Purchasers in an Ownership Group would exceed the Ownership Group Commitment for such Ownership Group, (ii) the aggregate outstanding Capital of all Receivables Interests of all Purchasers in respect of all Receivable Interests would exceed the Total Commitment; or (iii) the Purchase Availability would be less than zero.

  • In addition, on the date of any reduction of the Purchase Commitment, the Seller shall pay the Purchaser any accrued and unpaid Purchase Availability Fee on the date of such reduction with respect to the reduction amount.

  • On the date of any reduction of the Purchase Commitments, the Seller shall pay the Purchasers any accrued and unpaid Purchase Availability Fee with respect to the reduction amount.

  • The Seller agrees to pay to the Buyer, in ------------------------- consideration for the Purchase Obligation hereunder, from and including the date of execution of this Agreement to but excluding the Expiration Date, the Purchase Availability Fee in the amount set forth in a separate letter agreement between the Seller and the Buyer.