Common use of Conditions Precedent to Subsequent Payments Clause in Contracts

Conditions Precedent to Subsequent Payments. Buyer’s obligation to pay for Transferred Receivables coming into existence after the Initial Funding Date shall be subject to the further conditions precedent that (a) the Termination Date shall not have occurred, (b) Buyer (or its assigns) shall have received such other approvals, opinions or documents as it or they may reasonably request and (c) on the date of any Purchase, the Transferor shall have provided (1) the Buyer and the Servicer with a supplement the Schedule of Receivables identifying the Transferred Receivables to be transferred on such date and (2) the Servicer with the Receivable Files for each of the Transferred Receivables to be transferred on such date. Transferor’s obligation to sell Transferred Receivables coming into existence after the Initial Funding Date shall be subject to the further conditions precedent that (a) the Termination Date shall not have occurred, and (b) Buyer shall have the ability to and shall pay the purchase price therefor as provided in Article I hereof.

Conditions Precedent to Subsequent Payments. Buyer’s obligation to pay for Transferred Qualified Receivables coming into existence after the Initial Funding Date shall be subject to the further conditions precedent that (a) the Termination Date shall not have occurred, (b) Buyer (or its assigns) shall have received such other approvals, opinions or documents as it or they may reasonably request and (c) on the date of any Purchase, the Transferor Originator shall have provided (1) the Buyer and the Servicer with a supplement the Schedule of Receivables identifying the Transferred Qualified Receivables to be transferred on such date and (2) the Servicer with the Receivable Files for each of the Transferred Qualified Receivables to be transferred on such date. TransferorOriginator’s obligation to sell Transferred Qualified Receivables coming into existence after the Initial Funding Date shall be subject to the further conditions precedent that (a) the Termination Date shall not have occurred, and (b) Buyer shall have the ability to and shall pay the purchase price therefor as provided in Article I hereof.