Purchase Interest definition

Purchase Interest means, for a Purchaser, the percentage ownership interest in the Receivables and Collections held by such Purchaser, calculated when and as described in Section 1.1(a); provided, however, that (except for purposes of computing a Purchase Interest or the Sold Interest in Section 1.5 or 1.7) at any time the Sold Interest would otherwise exceed 100% each Purchaser then holding any Investment shall have its Purchase Interest reduced by multiplying such Purchase Interest by a fraction equal to 100% divided by the Sold Interest otherwise then in effect, so that the Sold Interest is thereby reduced to 100%.

Purchase Interest means, for a Purchaser, the percentage ownership interest in the Receivables and Collections held by such Purchaser, calculated when and as described in Section 1.1(b).

Purchase Interest means, for a Purchaser, the percentage ownership interest in the Receivables and Collections held by such Purchaser, calculated when and as described in Section 1.1(a); provided, however, that (except for purposes of computing a Purchase Interest or the Sold Interest in Section 1.5, 1.7 and in the last sentence of both Section 2.3(a) and Section 2.3(b)) at any time the Sold Interest would otherwise exceed 100% each Purchaser then holding any Investment shall have its Purchase Interest reduced by multiplying such Purchase Interest by a fraction equal to 100% divided by the Sold Interest otherwise then in effect, so that the Sold Interest is thereby reduced to 100%.

Examples of Purchase Interest in a sentence

• The Agent shall hold, in its name, for the benefit of each Purchaser, the Purchase Interest of the Purchaser.

• If you have a balance transfer balance on your Account that is subject to a 0% introductory or promotional APR we will not charge you interest on new purchases during the term of the introductory or promotional offer if you pay by the payment due date of each Billing Cycle the amount shown within the 'Payment Information" box titled "Payment to Avoid Purchase Interest".

• The Seller owns the Receivables free of any Adverse Claim other than the interests of the Purchasers (through the Agent) therein that are created hereby, and each Purchaser shall at all times have a valid undivided percentage ownership interest, which shall be a first priority perfected security interest for purposes of Article 9 of the applicable Uniform Commercial Code, in the Receivables and Collections to the extent of its Purchase Interest then in effect.

• The "Payment to Avoid Purchase Interest" will never be less than the minimum due.

• The Agent shall hold, in its name, for the benefit of each Purchaser, the Purchase Interest of such Purchaser.

More Definitions of Purchase Interest

Purchase Interest means the percentage ownership interest in the Receivables and Collections held by the Purchaser, calculated when and as described in Section 1.1(a).

Purchase Interest means, for a Purchaser, the undivided ownership interest in the Receivables, the Collections and proceeds thereof held by such Purchaser under this Agreement.

Purchase Interest means a Class A Purchase Interest or Class B Purchase Interest.

Purchase Interest means, for a Purchaser, the percentage ownership interest in the Receivables and Collections held by such Purchaser, calculated when and as described in Section 1.1(a); provided, however, that (except for purposes of computing a Purchase Interest or the Sold Interest in Section 1.5 or 1.7 and in the last sentence of both Section 2.3(a) and Section 2.3(b)) at any time the Sold Interest would otherwise exceed 100% the Purchase Interest of each Purchaser then holding any Investment will be reduced automatically by multiplying such Purchase Interest by a fraction equal to 100% divided by the Sold Interest otherwise then in effect, so that the Sold Interest is thereby reduced to 100%.

Purchase Interest has the meaning set forth in Section 7.06(a). “Purchase Option” has the meaning set forth in Section 7.06(a).

Purchase Interest has the meaning set forth in Section 12.1(a).

Purchase Interest means, as to any Initial Minority Holder other than McDoxxxxx, xxe shares of Common Stock and Options (including shares of Common Stock issued upon the exercise of such Options) specified with respect to such Initial Minority Holder on Schedule A hereto. [NOTE TO DRAFT: Schedule A will include only purchased Common Stock, rollover options and Common Stock issued upon exercise of rollover Options. Schedule A will not include new Options or Common Stock issued upon exercise of new Options.]