Common use of Purchaser hereunder Clause in Contracts

Purchaser hereunder. Each affected Class A-2 Purchaser hereby agrees to take all actions reasonably necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing or the provisions of subsection 8.1(j), (i) if the Class A-2 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the CP Conduit in its Purchaser Group in its sole discretion and (ii) if the Class A-2 Purchaser being replaced is a CP Conduit, the Replacement Purchaser shall be acceptable to each Committed Purchaser in its Purchaser Group and to the Administrative Agent in their sole discretion, and in either such case it shall be a condition of such replacement that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In addition, if the Class A-2 Purchaser to be replaced is an Agent or the Administrative Agent or is a CP Conduit which is administered or sponsored by an Agent or the Administrative Agent, it shall be a condition of such replacement that a replacement Agent or Administrative Agent shall have been appointed in accordance with Section 7.9, and the Agent or Administrative Agent to be replaced shall have been paid all amounts owing to it as Agent or Administrative Agent, as applicable pursuant to this Agreement.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

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Purchaser hereunder. Each affected Class A-2 A-1 Purchaser hereby agrees to take , at the Issuer's expense, all actions reasonably necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing or the provisions of subsection 8.1(j)foregoing, (i) if the Class A-2 A-1 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the related CP Conduit in its Purchaser Group in its sole discretion and (ii) if the Class A-2 A-1 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to each all related Committed Purchaser in its Purchaser Group Purchasers; and to the Administrative Agent in their sole discretion, and in either such case it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A A-1 Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In addition, if the Class A-2 event that a proposed Replacement Purchaser to be replaced is an designated by the Issuer and approved by the applicable Agent or and the Administrative Agent or as provided in this subsection is a not acceptable to the applicable CP Conduit which is administered or sponsored by an Agent or the Administrative Agentapplicable Committed Purchasers, it shall be as applicable, or has not within a condition reasonable period entered into applicable Support Facilities, and another replacement Class A-1 Purchaser has not been promptly procured as provided in this subsection with the consent of all affected parties, then any Class A-1 Purchaser which failed to consent to such replacement that a replacement Agent or Administrative Agent shall have been appointed in accordance with Section 7.9, and the Agent or Administrative Agent to enter into such Support Facilities may be replaced shall have been paid all amounts owing to it by a Replacement Purchaser as Agent or Administrative Agent, as applicable pursuant to provided in this Agreementsubsection.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

Purchaser hereunder. Each affected Class A-2 A-1 Purchaser hereby agrees to take all actions reasonably necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing or the provisions of subsection 8.1(j), (i) if the Class A-2 A-1 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the CP Conduit in its Purchaser Group in its sole discretion and (ii) if the Class A-2 A-1 Purchaser being replaced is a CP Conduit, the Replacement Purchaser shall be acceptable to each Committed Purchaser in its Purchaser Group and to the Administrative Agent in their sole discretion, and in either such case it shall be a condition of such replacement that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In addition, if the Class A-2 A-1 Purchaser to be replaced is an Agent or the Administrative Agent or is a CP Conduit which is administered or sponsored by an Agent or the Administrative Agent, it shall be a condition of such replacement that a replacement Agent or Administrative Agent shall have been appointed in accordance with Section 7.9, and the Agent or Administrative Agent to be replaced shall have been paid all amounts owing to it as Agent or Administrative Agent, as applicable pursuant to this Agreement.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

Purchaser hereunder. Each affected Class A-2 Purchaser hereby agrees to take all actions reasonably necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing or the provisions of subsection 8.1(j)foregoing, (i) if the Class A-2 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the related CP Conduit in its Purchaser Group in its sole discretion and (ii) if the Class A-2 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to each all related Committed Purchaser in its Purchaser Group Purchasers; and to the Administrative Agent in their sole discretion, and in either such case it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A A-2 Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In additionthe event that a proposed Replacement Purchaser designated by the Issuer and approved by the applicable Agent and the Administrative Agent as provided in this subsection is not acceptable to the applicable CP Conduit or the applicable Committed Purchasers, if the as applicable, or has not within a reasonable period entered into applicable Support Facilities, and another replacement Class A-2 Purchaser has not been promptly procured as provided in this subsection with the consent of all affected parties, then any Class A-2 Purchaser which failed to consent to such replacement or to enter into such Support Facilities may be replaced is an Agent or the Administrative Agent or is by a CP Conduit which is administered or sponsored by an Agent or the Administrative Agent, it shall be a condition of such replacement that a replacement Agent or Administrative Agent shall have been appointed Replacement Purchaser as provided in accordance with Section 7.9, and the Agent or Administrative Agent to be replaced shall have been paid all amounts owing to it as Agent or Administrative Agent, as applicable pursuant to this Agreementsubsection.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

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Purchaser hereunder. Each affected Class A-2 A-1 Purchaser hereby agrees to take all actions reasonably necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing or the provisions of subsection 8.1(j)foregoing, (i) if the Class A-2 A-1 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the related CP Conduit in its Purchaser Group in its sole discretion and (ii) if the Class A-2 A-1 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to each all related Committed Purchaser in its Purchaser Group Purchasers; and to the Administrative Agent in their sole discretion, and in either such case it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A A-1 Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In addition, if the Class A-2 event that a proposed Replacement Purchaser to be replaced is an designated by the Issuer and approved by the applicable Agent or and the Administrative Agent or as provided in this subsection is a not acceptable to the applicable CP Conduit which is administered or sponsored by an Agent or the Administrative Agentapplicable Committed Purchasers, it shall be as applicable, or has not within a condition reasonable period entered into applicable Support Facilities, and another replacement Class A-1 Purchaser has not been promptly procured as provided in this subsection with the consent of all affected parties, then any Class A-1 Purchaser which failed to consent to such replacement that a replacement Agent or Administrative Agent shall have been appointed in accordance with Section 7.9, and the Agent or Administrative Agent to enter into such Support Facilities may be replaced shall have been paid all amounts owing to it by a Replacement Purchaser as Agent or Administrative Agent, as applicable pursuant to provided in this Agreementsubsection.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

Purchaser hereunder. Each affected Class A-2 Purchaser hereby agrees to take take, at the Issuer's expense, all actions reasonably necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. Notwithstanding the foregoing or the provisions of subsection 8.1(j)foregoing, (i) if the Class A-2 Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to such the related CP Conduit in its Purchaser Group in its sole discretion and (ii) if the Class A-2 Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to each all related Committed Purchaser in its Purchaser Group Purchasers; and to the Administrative Agent in their sole discretion, and in either such case it shall be a condition of such replacement Committed Purchaser that such Replacement Purchaser enter into substitute Support Facilities for those to which the Class A A-2 Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In additionthe event that a proposed Replacement Purchaser designated by the Issuer and approved by the applicable Agent and the Administrative Agent as provided in this subsection is not acceptable to the applicable CP Conduit or the applicable Committed Purchasers, if the as applicable, or has not within a reasonable period entered into applicable Support Facilities, and another replacement Class A-2 Purchaser has not been promptly procured as provided in this subsection with the consent of all affected parties, then any Class A-2 Purchaser which failed to consent to such replacement or to enter into such Support Facilities may be replaced is an Agent or the Administrative Agent or is by a CP Conduit which is administered or sponsored by an Agent or the Administrative Agent, it shall be a condition of such replacement that a replacement Agent or Administrative Agent shall have been appointed Replacement Purchaser as provided in accordance with Section 7.9, and the Agent or Administrative Agent to be replaced shall have been paid all amounts owing to it as Agent or Administrative Agent, as applicable pursuant to this Agreementsubsection.

Appears in 2 contracts

Samples: Americredit Corp, Americredit Corp

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