Common use of Breakage Amount Clause in Contracts

Breakage Amount. Within 30 days after demand by the CP Conduit or any Credit Support Party as successor in interest to the CP Conduit as a Series B Note Holder (a "Breakage Party") (which demand shall be accompanied by a statement in reasonable detail setting forth the basis for such demand) the Issuer shall pay directly to the Trustee for the benefit of such Breakage Party, such amount or amounts as shall compensate such Breakage Party for any loss, cost or expense incurred by such Breakage Party in connection with any Hedging Agreements, as a result of any payment of principal of any Series B Note being received by reason of an Event of Loss. By its purchase of the Series B Notes, the Breakage Party agrees to pay directly to the Trustee, for the benefit of the Issuer, such amount or amounts that it may receive as breakage payments in connection with any Hedging Agreements, as a result of any payment of principal on any Series B Note being received by reason of an Event of Loss. The determination by any such Breakage Party of any such loss, expense or amount shall be presumed correct, absent manifest error. The Trustee will deposit such amounts in the Collection Account for distribution in accordance with Article 4.