Decreases. Seller shall provide the Agent with prior written notice in the form set forth as Exhibit XII hereto (a "Reduction Notice") two (2) Business Days prior to any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "Proposed Reduction Date") upon which any such reduction of Aggregate Capital shall occur and (ii) the amount of Aggregate Capital to be reduced which shall be applied ratably to the Purchaser Interests of Conduit and the Financial Institutions in accordance with the amount of Capital (if any) owing to Conduit, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "Aggregate Reduction"). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 3 contracts
Sources: Receivables Purchase Agreement (Metropolitan Edison Co), Receivables Purchase Agreement (Pennsylvania Power Co), Receivables Purchase Agreement (Pennsylvania Electric Co)
Decreases. Seller shall provide the Agent with prior written notice in conformity with the form set forth as Exhibit XII hereto Required Notice Period (a "Reduction Notice") two (2) Business Days prior to of any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "Proposed Reduction Date") upon which any such reduction of Aggregate Capital shall occur (which date shall give effect to the applicable Required Notice Period), and (ii) the amount of Aggregate Capital to be reduced which shall be applied ratably to the Purchaser Interests of Conduit and the Financial Institutions in accordance with the amount of Capital (if any) owing to Conduit, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "Aggregate Reduction"). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 2 contracts
Sources: Receivables Purchase Agreement (Graybar Electric Co Inc), Receivables Purchase Agreement (Graybar Electric Co Inc)
Decreases. Seller shall provide the Agent with at least two (2) Business Days' prior written notice in the form set forth as Exhibit XII hereto (a "Reduction Notice") two (2) Business Days prior to of any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "Proposed Reduction Date") upon which any such reduction of Aggregate Capital shall occur occur, and (ii) the amount of Aggregate Capital to be reduced reduced, which reduction shall be applied (A) ratably to the Purchaser Interests of Conduit Company and the Financial Institutions in accordance with the amount of Capital (if any) owing to ConduitCompany, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand or (B) as requested by Seller with the Agent's consent, which consent may be given or withheld in Agent's sole discretion (the "Aggregate Reduction"). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 1 contract
Decreases. Seller shall provide the Agent with at least three Business Days' prior written notice in (any such notice received by the form set forth as Exhibit XII hereto Agent after 11:00 a.m. (Chicago time) to be deemed received on the next Business Day) (a "Reduction Notice") two (2) Business Days prior to of any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "Proposed Reduction Date") upon which any such reduction of Aggregate Capital shall occur occur, and (ii) the amount of Aggregate Capital to be reduced reduced, which reduction shall be applied ratably to the Purchaser Interests of Conduit Company and the Financial Institutions in accordance with the amount of Capital (if any) owing to ConduitCompany, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "Aggregate Reduction"). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 1 contract
Decreases. Seller shall provide notify the Agent with prior written notice in the form set forth as Exhibit XII hereto (a "Reduction Notice") two (2) Business Days prior to in substantially the form set forth as Exhibit XI hereto of any proposed reduction of Aggregate Capital from Collections, which notice shall be provided by 9 a.m. (Chicago time) on the proposed date of such reduction. Such Reduction Notice shall designate (i) the date (the "Proposed Reduction Date") upon which any such reduction of Aggregate Capital shall occur occur, and (ii) the amount of Aggregate Capital to be reduced which shall be not less than $1,000,000 and which shall be applied ratably to the Purchaser Interests of Conduit Company and the Financial Institutions in accordance with the amount of Capital (if any) owing to ConduitCompany, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "Aggregate Reduction"). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 1 contract
Sources: Receivables Purchase Agreement (American Commercial Lines LLC)
Decreases. Seller shall provide the Agent with prior written notice in conformity with the form set forth as Exhibit XII hereto Required Notice Period (a "“Reduction Notice"”) two (2) Business Days prior to of any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "“Proposed Reduction Date"”) upon which any such reduction of Aggregate Capital shall occur (which date shall give effect to the applicable Required Notice Period), and (ii) the amount of Aggregate Capital to be reduced which shall be applied ratably to the Purchaser Interests of Conduit Company and the Financial Institutions in accordance with the amount of Capital (if any) owing to ConduitCompany, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "“Aggregate Reduction"”). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Johnson Polymer Inc)
Decreases. Seller shall provide the Agent with one (1) Business Day’s prior written notice in the form set forth as Exhibit XII hereto (a "“Reduction Notice"”) two (2) Business Days prior to of any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "“Proposed Reduction Date"”) upon which any such reduction of Aggregate Capital shall occur occur, and (ii) the amount of Aggregate Capital to be reduced which shall be applied ratably to the Purchaser Interests of Conduit Company and the Financial Institutions in accordance with the amount of Capital (if any) owing to ConduitCompany, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "“Aggregate Reduction"”). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 1 contract
Decreases. Seller shall provide the Agent with prior written notice in conformity with the form set forth as Exhibit XII hereto Required Notice Period (a "Reduction Notice") two (2) Business Days prior to of any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "Proposed Reduction Date") upon which any such reduction of Aggregate Capital shall occur (which date shall give effect to the applicable Required Notice Period), and (ii) the amount of Aggregate Capital to be reduced which shall be applied ratably to the Purchaser Interests of Conduit Company and the Financial Institutions in accordance with the amount of Capital (if any) owing to ConduitCompany, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "Aggregate Reduction"). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 1 contract
Decreases. Seller shall provide the Agent with 2 Business Days' prior written notice in substantially the form set forth as on Exhibit XII XI hereto (each a "Reduction Notice") two (2) Business Days prior to of any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "Proposed Reduction Date") upon which any such reduction of Aggregate Capital shall occur occur, and (ii) the amount of Aggregate Capital to be reduced which shall be applied ratably to the Purchaser Interests of Conduit and the Financial Institutions in accordance with the amount of Capital (if any) owing to Conduit, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "Aggregate Reduction"). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Lennox International Inc)
Decreases. Seller shall provide the Agent with prior written notice in conformity with the form set forth as Exhibit XII hereto Required Notice Period (a "“Reduction Notice"”) two (2) Business Days prior to of any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "“Proposed Reduction Date"”) upon which any such reduction of Aggregate Capital shall occur (which date shall give effect to the applicable Required Notice Period), and (ii) the amount of Aggregate Capital to be reduced which shall be applied ratably to the Purchaser Interests of Conduit and the Financial Institutions in accordance with the amount of Capital (if any) owing to Conduit, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "“Aggregate Reduction"”). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 1 contract
Decreases. Seller shall provide the Agent with prior written notice in conformity with the form set forth as Exhibit XII hereto Required Notice Period (a "Reduction Notice") two (2) Business Days prior to of any proposed reduction of Aggregate Capital from Collections. Such Reduction Notice shall designate (i) the date (the "Proposed Reduction Date") upon which any such reduction of Aggregate Capital shall occur (which date shall give effect to the applicable Required Notice Period), and (ii) the amount of Aggregate Capital to be reduced which shall be applied ratably to the Purchaser Interests of Conduit and the Financial Institutions in accordance with the amount of Capital (if any) owing to Conduit, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the "Aggregate Reduction"). Only one (1) Reduction Notice shall be outstanding at any time. No Aggregate Reduction will be made following the occurrence of the Amortization Date without the consent of the Agent.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Performance Food Group Co)