Liquidity Funding. Either (i) a purchase made by any Liquidity Bank (or simultaneous purchases made by the Liquidity Banks) from a Purchaser pursuant to any Liquidity Agreement or (ii) a Purchase made by a Liquidity Bank pursuant to Section 1.1.
Liquidity Funding. Prior to the occurrence of an Amortization Event, the outstanding principal balance of each Liquidity Funding shall accrue interest for each day during its Interest Period at either the LIBO Rate or the Alternate Base Rate in accordance with the terms and conditions hereof. Until Borrower gives notice to the applicable Co-Agent of another Interest Rate in accordance with Section 4.4, the initial Interest Rate for any Loan transferred to the Liquidity Banks by the applicable Conduit pursuant to the applicable Liquidity Agreement shall be the Alternate Base Rate (unless the Default Rate is then applicable). If the applicable Liquidity Banks acquire by assignment from the applicable Conduit any Loan pursuant to the applicable Liquidity Agreement, each Loan so assigned shall each be deemed to have an Interest Period commencing on the date of any such assignment.
Liquidity Funding. 8 Section 4.2........... Interest Payments 8 Section 4.3........... Selection and Continuation of Interest Periods 8 Section 4.4........... Liquidity Bank Interest Rates 9 Section 4.5........... Suspension of the LIBO Rate 9 Section 4.6........... Default Rate 9 ARTICLE V. REPRESENTATIONS AND WARRANTIES Section 5.1........... Representations and Warranties of the Loan Parties 9 Section 5.2........... Liquidity Bank Representations and Warranties 13 ARTICLE VI. CONDITIONS OF ADVANCES.. 14 Section 6.1........... Conditions Precedent to Initial Advance 14 Section 6.2........... Conditions Precedent to All Advances 14 ARTICLE VII. COVENANTS Section 7.1........... Affirmative Covenants of the Loan Parties 14 Section 7.2........... Negative Covenants of the Loan Parties 19 ARTICLE VIII. ADMINISTRATION AND COLLECTION 21 Section 8.1........... Designation of Servicer 21 Section 8.2........... Certain Duties of Servicer 21 Section 8.3........... Collection Notices 22 Section 8.4........... Responsibilities of Borrower 23 Section 8.5........... Monthly Reports 23 Section 8.6........... Servicing Fee 23 ARTICLE IX. AMORTIZATION EVENTS 23 Section 9.1........... Amortization Events 23 Section 9.2........... Remedies 25 ARTICLE X. INDEMNIFICATION 26 Section 10.1........... Indemnities by the Loan Parties 26 Section 10.2........... Increased Cost and Reduced Return 28 Section 10.3........... Other Costs and Expenses 29 ARTICLE XI. THE AGENTS 29 Section 11.1........... Authorization and Action. 29 Section 11.2........... Delegation of Duties 30 Section 11.3........... Exculpatory Provisions 30 Section 11.4........... Reliance by the Agents 31 Section 11.5........... Non-Reliance on Other Agents and Other Lenders 31 Section 11.6........... Reimbursement and Indemnification 31 Section 11.7........... Agents in their Individual Capacities 31 Section 11.8........... Conflict Waivers 32 Section 11.9........... UCC Filings 32 Section 11.10........... Successor Administrative Agent 32 ARTICLE XII. ASSIGNMENTS; PARTICIPATIONS 33 Section 12.1........... Assignments 33 Section 12.2........... Participations 34 ARTICLE XIII. SECURITY INTEREST 35 Section 13.1........... Grant of Security Interest 35 Section 13.2........... Termination after Final Payout Date 35 Section 13.3........... Excluded Receivables 35 ARTICLE XIV. MISCELLANEOUS 35 Section 14.1........... Waivers and Amendments 35 Section 14.2........... Notices 36 Section 14.3........... Ratable Payments 37 Section 14.4..........
Liquidity Funding. Section 4.1 Liquidity Funding 10 Section 4.2 Yield Payments 10 Section 4.3 Selection and Continuation of Tranche Periods 11 Section 4.4 Liquidity Interest Discount Rates 11 Section 4.5 Suspension of the LIBO Rate 11
Liquidity Funding. Each Liquidity Interest will accrue Yield for each day during its Tranche Period at either the LIBO Rate or the Base Rate in accordance with the terms and conditions hereof. Until Seller gives notice to the Falcon Agent or Fifth Third, as applicable, of another Discount Rate in accordance with Section 4.4 hereof, the initial Discount Rate for any Purchaser Interest transferred by Falcon to the Financial Institutions in the Falcon Group pursuant to the terms and conditions hereof and for any Fifth Third Liquidity Interest will be the Base Rate. If the Financial Institutions in the Falcon Group acquire by assignment from Falcon any Purchaser Interest pursuant to Article XIII, each Purchaser Interest so assigned will each be deemed to have a new Tranche Period commencing on the date of any such assignment. If the CP Availability Period ends, each Purchaser Interest of Fifth Third will be deemed to have a new Tranche Period commencing on the date the CP Availability Period ended.
Liquidity Funding. If either Conduit determines that it ----------------- cannot maintain or that it is undesirable to maintain its Capital at a CP Rate and notifies its Co-Agent and the Seller (or the Servicer on the Seller's behalf) that it has availed itself of a Liquidity Funding for all or any portion of its Capital allocated to a CP Tranche Period for which Yield is being computed with respect to a CP Rate, such CP Tranche Period shall automatically terminate, the portion of Capital allocated to such CP Tranche Period shall be automatically allocated to a new Tranche Period accruing Yield at the applicable Base Rate, and the Seller shall pay to such Co-Agent, for the account of such Conduit, any Broken Funding Costs arising from early termination of such CP Tranche Period.
Liquidity Funding. Each Liquidity Interest shall accrue Yield for each day during its Tranche Period at either the LIBO Rate or the Base Rate in accordance with the terms and conditions hereof. Until Seller gives notice to the Agent (who will promptly forward a copy of each such notice to the Committed Purchasers) of another Discount Rate in accordance with Section 4.4 hereof, the initial Discount Rate for any Purchaser Interest transferred by Jupiter to the Financial Institutions pursuant to a Funding Agreement and for any Fifth Third Liquidity Interest shall be the Base Rate. If the Financial Institutions acquire by assignment from Jupiter any Purchaser Interest pursuant to a Funding Agreement, each Purchaser Interest so assigned shall each be deemed to have a new Tranche Period commencing on the date of any such assignment. If the CP Availability Period ends, Fifth Third shall promptly notify the Agent and the Seller Parties of such termination, and each Purchaser Interest of Fifth Third shall be deemed to have a new Tranche Period commencing on the date the CP Availability Period ended.
Liquidity Funding. Yield Payments. Selection and Continuation of Tranche Periods Liquidity Interest Discount Rates. Suspension of LMIR or the LIBO Rate
Liquidity Funding. Each Liquidity Interest shall accrue Yield for each day during its Tranche Period at LMIR (solely in the case of Fifth Third), the LIBO Rate (in the case of the Committed Purchasers other than Fifth Third) or the Alternate Base Rate in accordance with the terms and conditions hereof. Until Seller gives notice to each of the Co-Agents (who will promptly forward a copy of each such notice to the Committed Purchasers in its Purchaser Group) of another Discount Rate in accordance with Section 4.4 hereof, the initial Discount Rate for any Purchaser Interest transferred by Falcon to the Financial Institutions pursuant to a Funding Agreement and for any Liquidity Interest of Fifth Third shall be the Alternate Base Rate. If the Financial Institutions acquire by assignment from a Conduit any Purchaser Interest pursuant to a Funding Agreement, each Purchaser Interest so assigned shall each be deemed to have a new Tranche Period commencing on the date of any such assignment.
