Dilutions. If at any time: (a) there becomes available or arises any set-off, counterclaim, defence or deduction in respect of a Purchased Receivable or any other Receivable owing to the German Seller by a Debtor which is not attributable to Credit Risk; or (b) any Dilution not attributable to Credit Risk occurs in relation to a Contract or an Invoice under which a Purchased Receivable or any other Receivable owing to the German Seller by a Debtor, arises or in relation to any other transaction between the German Seller and the relevant Debtor with respect to a Purchased Receivable or any other Receivable owing to the German Seller by a Debtor, then the German Seller shall, (i) on the next Settlement Date after having become aware of such the circumstances set out under (a) and (b) above or (ii) immediately upon request of the Purchaser (whichever is earlier), pay to the Purchaser out of its own resources an amount equal to the amount of such set-off, counterclaim, defence, deduction or Dilution.
Appears in 2 contracts
Sources: German Receivables Purchase and Servicing Agreement (WABCO Holdings Inc.), German Receivables Purchase and Servicing Agreement (WABCO Holdings Inc.)