Common use of Additional Receivables Clause in Contracts

Additional Receivables. In consideration for the Additional Purchased Property, Ally Auto shall, on each related Subsequent Closing Date, pay to the Seller an amount equal to the Aggregate Additional Receivables Principal Balance in respect of the Additional Receivables sold on such date and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A (the “First Step Additional Receivables Assignment”). A portion of the Aggregate Additional Receivables Principal Balance, equal to $[ ], shall be paid to the Seller in immediately available funds and the balance of such purchase shall be paid through one or both of [(a) an increase in the amount owing from Ally Auto to Seller under the Intercompany Advance Agreement (as a result of an advance made thereunder from Seller to Ally Auto), equal to $[ ], and (b)] an increase in Seller’s capital account in Ally Auto (as a result of a deemed capital contribution from Seller to Ally Auto), equal to $[ ]. The amount [advanced under the Intercompany Advance Agreement and the amount] of the deemed capital contribution shall be duly recorded by the Seller and Ally Auto. The First Step Initial Receivables Assignment and each First Step Additional Receivables Assignment are collectively referred to herein as the “First Step Receivables Assignments.”)]

Additional Receivables. In consideration for the Additional Purchased Property, Ally Auto shall, on each related Subsequent Closing Date, pay to the Seller an amount equal to the Aggregate Additional Receivables Principal Balance in respect of the Additional Receivables sold on such date and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A B (the “First Step Additional Receivables Assignment”). A portion of the Aggregate Additional Receivables Principal Balance, equal to $[ ], shall be paid to the Seller in immediately available funds and the balance of such purchase shall be paid through one or both of [(a) an increase in the amount owing from Ally Auto to Seller under the Intercompany Advance Agreement (as a result of an advance made thereunder from Seller to Ally Auto), equal to $[ ], and (b)] an increase in Seller’s capital account in Ally Auto (as a result of a deemed capital contribution from Seller to Ally Auto), equal to $[ ]. The amount [advanced under the Intercompany Advance Agreement and the amount] of the deemed capital contribution shall be duly recorded by the Seller and Ally Auto. The First Step Initial Receivables Assignment and each First Step Additional Receivables Assignment are collectively referred to herein as the “First Step Receivables Assignments.”)]