Common use of Reinvestment Purchases Clause in Contracts

Reinvestment Purchases. Subject to Section 3.03 hereof, on each Business Day occurring after the initial Purchase, whichever first occurs hereunder, and prior to the Termination Date, the Seller hereby sells as set forth in Section 2.01 to the Facility Agents, for the benefit of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment Purchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each such day shall be equal to the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of the related Purchasers, at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day, if any, and (ii) such Facility Agent’s (for the benefit of its related Purchaser) Purchase Group Net Investment, at the end of each such day shall be equal to the amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase shall be allocated among the Facility Agents (for the benefit of their related Purchasers) based on their respective Exposure Amounts as a percentage of the Aggregate Exposure Amount on such day.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Ferguson PLC)

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Reinvestment Purchases. Subject to Section 3.03 hereof, On each date on each Business Day occurring after which Collections are received by the initial Purchase, whichever first occurs hereunder, and Servicer prior to the Termination Date, the Seller hereby sells as set forth in Section 2.01 requests and the Purchasers hereby agree to make, simultaneously with such receipt and out of Collections available for such purpose pursuant to Article IV, a reinvestment (each a "Reinvestment Purchase"), with that portion of each and every Collection received by the Servicer that is part of any Ownership Interest and this is not otherwise allocated hereunder. Upon such Reinvestment Purchase, the Seller shall Transfer to the Facility Agents, for the benefit of the applicable Purchasers, and each Facility Agent shall, on behalf of the related PurchaserPurchasers, purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each3.06, and in consideration of such available Collections, an Ownership Interest so that, as a “Reinvestment Purchase”), such that result of and after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each Ownership Interest immediately after such day receipt and corresponding Reinvestment Purchase shall be equal to the amount of the Aggregate Net Investment immediately prior to receipt of such Facility Agentsavailable Collections, provided that if and to the extent that on any such date after giving effect to such Reinvestment Purchase, the aggregate of the Ownership Interests of the Purchasers would otherwise exceed 100%, such Reinvestment Purchase shall not occur and the Servicer shall set aside and be deemed to hold in trust for the benefit of the related Purchasers all or such portion of such available Collections which, if they were applied to reduce the Investments of the Purchasers, at would result in the end aggregate of the day immediately preceding Ownership Interests of the Purchasers being equal to 100%, until the next date on which Reinvestment Purchases may be made as contemplated hereinabove, on which date such dayReinvestment Purchases shall be made, plus the subject again to application of this proviso (each a "Deferred Reinvestment Purchase"). Upon such Reinvestment Purchase Price paid with respect to any Incremental or Deferred Reinvestment Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day, if any, and (ii) such Facility Agent’s (Servicer shall hold the applicable Collections for the benefit of its related Purchaser) Purchase Group Net Investment, at the end Seller. The Transfer of each such day shall be equal the applicable Ownership Interest to the amount of its Purchase Group Net Investment at the end Agent on behalf of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction applicable Purchaser shall occur as provided in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase shall be allocated among the Facility Agents (for the benefit of their related Purchasers) based on their respective Exposure Amounts as a percentage of the Aggregate Exposure Amount on such day3.06.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Agco Corp /De)

Reinvestment Purchases. Subject to Section 3.03 hereof, on each Business Day occurring At any time that any Collection or Collections are received by the Collection Agent after the initial Purchase, whichever first occurs hereunder, purchase of a Receivable Interest hereunder and on or prior to the Termination DateLiquidation Day of such Receivable Interest (and subject to the provisions of Section 1.8 hereof), the Seller hereby sells as set forth in Section 2.01 requests and the Purchasers hereby agree to the Facility Agentsmake, for the benefit simultaneously with such receipt, a reinvestment (each a "Reinvestment") with that portion of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Collection received by the Collection Agent that is allocable to such Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment Purchase”)Interest, such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase)Reinvestment, (i) the amount of the Aggregate Net Investment Capital of such Facility Agents, for the benefit of their respective Purchasers, at the end of each Receivable Interest immediately after any such day receipt and corresponding Reinvestment shall be equal to the amount of the Aggregate Net Investment of Capital immediately prior to such Facility Agentsreceipt; provided that, for a Conduit (or its Managing Agent on its behalf) may at any time notify the benefit of Seller that it will cease to make Reinvestment Purchases and such Conduit shall thereafter cease to make such Reinvestment Purchases. If any Conduit notifies the related Purchasers, at the end of the day immediately preceding Seller that it will cease to make Reinvestment Purchases and such day, plus the Purchase Price paid with respect Conduit thereafter ceases to any Incremental make a Reinvestment Purchase, Reimbursement Seller may deliver a Purchase or Swingline Reimbursement Purchase made on Notice, as defined in Section 1.2, to such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day, if anyConduit's related Managing Agent, and (ii) the Investors in such Facility Agent’s (for the benefit of its related Purchaser) Conduit's Purchase Group Net Investmentshall, at subject to the end other terms and conditions of each this Agreement, make a new purchase of Receivable Interests by the third Business Day following such day shall be Purchase Notice in an amount equal to the amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase that such Conduit declined to make (which amount shall be allocated among the Facility Agents (for the benefit of their related Purchasers) based on their respective Exposure Amounts as a percentage of the Aggregate Exposure Amount on set forth in such dayPurchase Notice).

Appears in 1 contract

Samples: Receivables Purchase Agreement (Bon Ton Stores Inc)

Reinvestment Purchases. Subject to Section 3.03 hereof, on each Business Day occurring At any time that any Collection or Collections are received by the Servicer after the initial Purchase, whichever first occurs hereunder, purchase of a Receivable Interest hereunder and on or prior to the Termination DateLiquidation Day of such Receivable Interest, the Seller hereby sells as set forth in Section 2.01 requests and, upon the terms and subject to the Facility Agentsconditions hereof, for the benefit Purchasers hereby agree to make, simultaneously with such receipt, a reinvestment (each a "Reinvestment") with that portion of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Collection received by the Servicer that is part of such Receivable Interest, such reinvestment being in Receivables that shall have been acquired by the Seller pursuant to the Xxxxxxxx Transfer Agreement since the date of the last purchase or Reinvestment hereunder. Until the Administrative Agent shall otherwise direct, Collections denominated in Dollars shall be applied to a Reinvestment in respect of a Receivable Interest not previously purchased the Capital of which is denominated in Dollars and Collections denominated in Deutsche Marks shall be applied to a Reinvestment in respect of a Receivable Interest denominated in Deutsche Marks. The making of a Reinvestment shall not, of itself, cause any increase or decrease in, or otherwise affect, the Capital associated with any Receivable Interest. If, and to the extent that extent, on any day the Seller shall have insufficient Receivables for the purpose of accommodating the Reinvestment of all Collections are available received on such day in the applicable currency, the Servicer shall set aside and hold in trust for the holder of each Receivable Interest such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment Purchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), Collections until the earlier of (i) the amount next date on which the Seller shall acquire Receivables in such currency and shall be capable of the Aggregate Net Investment accommodating a Reinvestment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each such day shall be equal to the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of the related Purchasers, at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day, if any, Collections and (ii) the next following date that is the last day of any Tranche Period for a Receivable Interest in such Facility Agent’s (for the benefit of its related Purchaser) Purchase Group Net Investment, at the end of each such day shall be equal to the amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase shall be allocated among the Facility Agents (for the benefit of their related Purchasers) based on their respective Exposure Amounts as a percentage of the Aggregate Exposure Amount on such daycurrency.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Donnelly Corp)

Reinvestment Purchases. Subject Unless an Uncommitted Purchaser has provided to Section 3.03 hereofthe Agent, on each its Purchaser Agent, the Seller, and the Servicer a notice (which notice shall be delivered not less than one Business Day occurring after the initial Purchase, whichever first occurs hereunder, and prior to the Termination Datecessation of Reinvestment Purchases) still in effect that it no longer wishes to make Reinvestment Purchases (in which case such Uncommitted Purchaser’s Reinvestment Purchases, the Seller hereby sells as set forth in Section 2.01 to the Facility Agents, for the benefit but not those of the applicable its Related Bank Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment Purchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each such day shall be equal to the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of the related Purchasers, at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08or any Committed Purchaser, 2.09 or 2.15(b) hereof made on such day, if any, and (ii) such Facility Agent’s (for the benefit of its related Purchaser) Purchase Group Net Investmentshall cease), at any time before the end of Termination Date when no Interim Liquidation is in effect, then on each day that any Collections are received by the Servicer a Purchaser’s Purchase Interest in such day Collections shall automatically be equal used to make a Reinvestment Purchase by such Purchaser, but only to the extent such Reinvestment Purchase would not cause such Purchaser’s Investment to increase above the amount of its Purchase Group Net such Investment at the end start of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental PurchasePurchases made by such Purchaser on that day. An Uncommitted Purchaser may revoke any notice provided under the first sentence of this Section 1.1(d) by notifying the Agent, Reimbursement Purchase or Swingline Reimbursement Purchase made on such dayits Purchaser Agent, if anythe Seller, minus its pro rata portion of and the reduction in the Aggregate Net Investment Servicer that it will make Reinvestment Purchases. If at any time any Uncommitted Purchaser other than USF Assurance delivers a notice that it no longer wishes to make Reinvestment Purchases pursuant to this Section 2.081.1(d) and USF Assurance then, 2.09 or 2.15(b) hereof made on at any time during the related Liquidation Period, holds any Investment, then USF Assurance shall be deemed to have delivered the same notice at the same time and Reinvestment Purchases shall cease for such dayUncommitted Purchaser and USF Assurance at the same time and for the same period. Subject USF Assurance may not revoke any such notice deemed to have been given pursuant to the terms and conditions hereof, each preceding sentence until such Reinvestment Purchase shall be allocated among time as the Facility Agents (for Uncommitted Purchaser which gave the benefit notice pursuant to the first sentence of their related Purchasersthis Section 1.1(d) based on their respective Exposure Amounts as a percentage of the Aggregate Exposure Amount on such dayhas revoked its notice.

Appears in 1 contract

Samples: Receivables Sale Agreement (Usf Corp)

Reinvestment Purchases. Subject to Section 3.03 hereof, on each Business Day occurring after the initial Incremental Purchase or Reimbursement Purchase, whichever first occurs hereunder, and prior to the Termination Date, the Seller hereby sells as set forth in Section 2.01 to the Facility Agents, for the benefit of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment Purchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each such day shall be equal to the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of the related Purchasers, at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day, if any, and (ii) such Facility Agent’s (for the benefit of its related Purchaser) Purchase Group Net Investment, at the end of each such day shall be equal to the amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase shall be allocated among the Facility Agents (for the benefit of their related Purchasers) based on their respective Exposure Amounts as a percentage pro rata in accordance with the Purchase Group Percentage of the Aggregate Exposure Amount on such dayrelated Purchase Group.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Ferguson PLC)

Reinvestment Purchases. Subject to Section 3.03 hereof, on each Business Day occurring At any time that any Collection or Collections are received by the Collection Agent after the initial Purchase, whichever first occurs hereunder, purchase of a Receivable Interest hereunder and on or prior to the Termination DateLiquidation Day of such Receivable Interest (and subject to the provisions of Section 1.8 hereof), the Seller hereby sells as set forth in Section 2.01 requests and the Purchasers hereby agree to the Facility Agentsmake, for the benefit simultaneously with such receipt, a reinvestment (each a “Reinvestment”) with that portion of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Collection received by the Collection Agent that is allocable to such Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment Purchase”)Interest, such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase)Reinvestment, (i) the amount of the Aggregate Net Investment Capital of such Facility Agents, for the benefit of their respective Purchasers, at the end of each Receivable Interest immediately after any such day receipt and corresponding Reinvestment shall be equal to the amount of the Aggregate Net Investment of Capital immediately prior to such Facility Agentsreceipt; provided that, for a Conduit (or its Managing Agent on its behalf) may at any time notify the benefit of Seller that it will cease to make Reinvestment Purchases and such Conduit shall thereafter cease to make such Reinvestment Purchases. If any Conduit notifies the related Purchasers, at the end of the day immediately preceding Seller that it will cease to make Reinvestment Purchases and such day, plus the Purchase Price paid with respect Conduit thereafter ceases to any Incremental make a Reinvestment Purchase, Reimbursement Seller may deliver a Purchase or Swingline Reimbursement Purchase made on Notice, as defined in Section 1.2, to such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day, if anyConduit’s related Managing Agent, and (ii) the Investors in such Facility AgentConduit’s (for the benefit of its related Purchaser) Purchase Group Net Investmentshall, at subject to the end other terms and conditions of each this Agreement, make a new purchase of Receivable Interests by the third Business Day following such day shall be Purchase Notice in an amount equal to the amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase that such Conduit declined to make (which amount shall be allocated among the Facility Agents (for the benefit of their related Purchasers) based on their respective Exposure Amounts as a percentage of the Aggregate Exposure Amount on set forth in such dayPurchase Notice).

Appears in 1 contract

Samples: Receivables Purchase Agreement (Bon Ton Stores Inc)

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Reinvestment Purchases. Subject to Section 3.03 hereof, On each date on each Business Day occurring after which Collections are received by the initial Purchase, whichever first occurs hereunder, and Servicer prior to the Termination Date, the Seller hereby sells as set forth in Section 2.01 requests and the Purchasers hereby agree to the Facility Agentsmake, simultaneously with such receipt and out of Collections available for the benefit such purpose pursuant to Article III, a reinvestment (each a "Reinvestment Purchase", with that portion of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to Collection received by the extent Servicer that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment Purchase”)is part of any Ownership Interest, such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each Ownership Interest immediately after such day receipt and corresponding Reinvestment Purchase shall be equal to the amount of Investment immediately prior to such receipt, provided that if on any such date the Aggregate Net Investment of such Facility AgentsSeller does not have sufficient Dealer Receivables for the Purchasers to make Reinvestment Purchases as contemplated hereinabove, the Servicer shall set aside and be deemed to hold in trust for the benefit of the related Purchasers, at the end Purchasers all or such portion of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made Collections which cannot on such daydate be used to make Reinvestment Purchases, if anyuntil the next date on which Reinvestment Purchases may be made as contemplated hereinabove, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on which date such day, if any, and (ii) such Facility Agent’s (for the benefit of its related Purchaser) Purchase Group Net Investment, at the end of each such day Reinvestment Purchases shall be equal to the amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental made (each a "Deferred Reinvestment Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase shall be allocated among the Facility Agents (for the benefit of their related Purchasers) based on their respective Exposure Amounts as a percentage of the Aggregate Exposure Amount on such day").

Appears in 1 contract

Samples: Receivables Purchase Agreement (Agco Corp /De)

Reinvestment Purchases. Subject to Section 3.03 hereof, on each Business Day occurring after the initial Incremental Purchase or Reimbursement Purchase, whichever first occurs hereunder, and prior to the Termination Date, the Seller hereby sells as set forth in Section 2.01 to the Facility Agents, for the benefit of the applicable Purchasers, and each Facility Agent shall, on behalf of the related Purchaser, purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment Purchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective Purchasers, at the end of each such day shall be equal to the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of the related Purchasers, at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day, if any, and (ii) such Facility Agent’s (for the benefit of its related Purchaser) Purchase Group Net Investment, at the end of each such day shall be equal to the amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.08, 2.09 or 2.15(b) hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase shall be allocated among the Facility Agents (for the benefit of their related Purchasers) based on their respective Exposure Amounts as a percentage of the Aggregate Exposure Amount on such day.be

Appears in 1 contract

Samples: Receivables Purchase Agreement (Ferguson PLC)

Reinvestment Purchases. Subject to Section 3.03 hereof, on each Business Day occurring after the initial Incremental Purchase or Reimbursement Purchase, whichever first occurs hereunder, and prior to the Termination Date, the Seller hereby sells as set forth in Section 2.01 to the Facility Agents, for the benefit of the applicable PurchasersPurchaser(s), and each Facility Agent shall, on behalf of the related PurchaserPurchaser(s), purchase from the Seller undivided percentage ownership interests in each and every Receivable Interest not previously purchased to the extent that Collections are available for such Purchase in accordance with Section 2.08(a) hereof (each, a “Reinvestment Purchase”), such that after giving effect to such Purchase (and for each Facility Agent that is making such Reinvestment Purchase), (i) the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of their respective PurchasersPurchaser(s), at the end of each such day shall be equal to the amount of the Aggregate Net Investment of such Facility Agents, for the benefit of the related PurchasersPurchaser(s), at the end of the day immediately preceding such day, plus the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus the reduction in Aggregate Net Investment pursuant to Section 2.082.08(b), 2.09 or 2.09, 2.15(b) or 2.16 hereof made on such day, if any, and (ii) such Facility Agent’s (for the benefit of its related PurchaserPurchaser(s)) Purchase Group Net Investment, at the end of each such day shall be equal to the amount of its Purchase Group Net Investment at the end of the day immediately preceding such day, plus its Purchase Group Percentage of the Purchase Price paid with respect to any Incremental Purchase, Reimbursement Purchase or Swingline Reimbursement Purchase made on such day, if any, minus its pro rata portion of the reduction in the Aggregate Net Investment pursuant to Section 2.082.08(b), 2.09 or 2.09, 2.15(b) or 2.16 hereof made on such day. Subject to the terms and conditions hereof, each such Reinvestment Purchase shall be allocated among the Facility Agents (for pro rata in accordance with the benefit of their related Purchasers) based on their respective Exposure Amounts as a percentage Purchase Group Percentage of the Aggregate Exposure Amount on such dayrelated Purchase Group.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Phillips 66)

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