Consideration and Payment. In consideration of the transfer of the Purchased Assets conveyed to the Purchaser pursuant to Section 2.1 on the Closing Date, the Purchaser shall pay to VCI on such date an amount equal to the estimated fair market value of the Purchased Assets, which amount shall be paid (a) in cash to VCI and (b) by a capital contribution by VCI of an undivided interest in such Purchased Assets that increases its equity interest in the Purchaser in an amount equal to the excess of the estimated fair market value of the Purchased Assets over the amount of cash paid by the Purchaser to VCI.
Appears in 26 contracts
Samples: Purchase Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Purchase Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Purchase Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Consideration and Payment. In consideration of the transfer of the Purchased Assets conveyed to the Purchaser pursuant to Section 2.1 on the Closing Date, the Purchaser shall pay to VCI on such date an amount equal to the estimated fair market value of the Purchased Assets, which amount shall be paid (a) in cash to VCI and (b) by a capital contribution by VCI of or an undivided interest in such Purchased Assets that increases its equity interest in the Purchaser in an amount equal to the excess of the estimated fair market value of the Purchased Assets over the amount of cash paid by the Purchaser to VCI.
Appears in 4 contracts
Samples: Purchase Agreement (Volkswagen Auto Loan Enhanced Trust 2012-1), Purchase Agreement (Volkswagen Auto Loan Enhanced Trust 2012-1), Purchase Agreement (Volkswagen Auto Loan Enhanced Trust 2011-1)
