Examples of Subsequent Draw Date in a sentence
By no later than 12:00 p.m. (New York City time) on the Subsequent Draw Date, subject to the other conditions set forth herein and in the other Basic Documents, each Note Purchaser shall pay an amount equal to such Note Purchaser’s Initial Stated Percentage Interest of such Draw to or at the direction of the Issuer, by wire transfer in U.S. dollars of such amount in same day funds to an account as designated by the Issuer or its designee on the related Subsequent Draw Date.
Such representations are made as of the date of this Agreement and as of each Subsequent Draw Date, and shall survive the issuance of the Notes, the funding of each Draw and the grant of a security interest in the Receivables and the other Collateral related thereto to the Trustee under the Indenture.
Each Note Purchaser shall promptly thereafter (but in no event later than 11:00 a.m. (New York City time) on the proposed Subsequent Draw Date) notify the Issuer whether such Note Purchaser has determined that the conditions precedent to fund the requested Draw have been met, if any Receivable is to be excluded from the Draw Request and the amount of the Draw, as adjusted by such Note Purchaser pursuant to this Section.
On the Closing Date and on each Subsequent Draw Date, this Warrant shall vest in a percentage that is equal to the applicable Periodic Draw Percentage for such date.
Such representations and warranties are made as of the date of this Agreement and as of each Subsequent Draw Date, and shall survive the sale by CPS to the Issuer of the Receivables and the Other Conveyed Property related thereto under the Sale and Servicing Agreement, the issuance of the Notes, the funding of each Draw and the grant of a security interest in the Receivables and the other Collateral related thereto by the Issuer to the Trustee under the Indenture.
As used herein, the “Periodic Draw Percentage” for the Closing Date and each Subsequent Draw Date shall equal the amount, expressed as a percentage, obtained by dividing (x) the amount of the Draw that is funded on such date pursuant to the terms of the Note Purchase Agreement and the Sale and Servicing Agreement by (y) the Aggregate Committed Amount.
By no later than 2:00 p.m. (New York City time) five (5) Business Days prior to each proposed Subsequent Draw Date, the Issuer shall (or shall cause the Servicer to) deliver in electronic format a request in substantially the form of Exhibit B hereto (each such request, a “Draw Request”), together with a data tape or other electronic file containing information regarding the Receivables to be transferred on such Subsequent Draw Date, to each Note Purchaser.
The representations and warranties of each of the Obligors in this Agreement and the other Transaction Documents shall be true and correct on such Subsequent Draw Date.
Each of the Obligors shall have delivered to the Purchaser an officer’s certificate, dated such Subsequent Draw Date, certifying that the conditions specified in Sections 6(a), 6(b), 6(c), 6(e), 6(f) and 6(g) have been fulfilled.
Whenever the Issuer wishes the Note Purchasers to make a Draw, the Issuer shall (or shall cause the Servicer to) deliver in electronic format an Addition Notice to each Note Purchaser by no later than 2:00 p.m. (New York City time) ten (10) Business Days prior to each proposed Subsequent Draw Date.