Purchased Interest definition

Purchased Interest means, at any time, the undivided percentage ownership interest in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage interest shall be computed as:

Purchased Interest means the interest in the Receivables acquired by the Liquidity Provider through purchase pursuant to the terms of the Liquidity Provider Agreement.

Purchased Interest means the interest in the Receivables acquired by a Liquidity Provider from a Conduit Investor through purchase pursuant to the terms of a Liquidity Provider Agreement.

Examples of Purchased Interest in a sentence

• Immediately after giving effect to this Amendment, the Related Agreements and the transactions contemplated hereby and thereby, no Termination Event or Unmatured Termination Event exists or shall exist and the Purchased Interest shall not exceed 100%.

• The Purchased Interest shall be initially computed on the date of the initial Purchase hereunder.

• With respect to each calculation of the Purchased Interest, the Total Reserves used in such calculation shall be measured using the information reported in the most recent Information Package.

• Such Conduit Purchaser shall promptly (i) notify each of the other parties hereto of such assignment and (ii) take all further action that the assignee reasonably requests in order to evidence the assignee’s right, title and interest in such interest in the Purchased Interest, and interests in its Capital, and to enable the assignee to exercise or enforce any rights of such Conduit Purchaser hereunder.

• On each Termination Day, the Purchased Interest shall be deemed to be 100%.

More Definitions of Purchased Interest

Purchased Interest means, at any time, the undivided percentage ownership interest of the Purchasers in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage ownership interest shall be computed as: Aggregate Capital + Adjusted LC Participation Amount + Total Reserves Net Receivables Pool Balance The Purchased Interest shall be determined from time to time pursuant to Section 1.3 of this Agreement.

Purchased Interest has the meaning specified in Section 2.1.

Purchased Interest has the meaning provided such term in the recitals of this Agreement.

Purchased Interest means any interest in the Note acquired by the Liquidity Provider.

Purchased Interest has the meaning set forth in the SPSA.

Purchased Interest shall have the meaning assigned to such term in Section 5.1.

Purchased Interest has the meaning set forth in the recitals.