Effect of Payment of Purchase Price. Upon the payment of the Purchase Price (whether in cash or by an increase in the principal amount outstanding under the Purchaser Note pursuant to SECTION 3.1) for any Purchase, title to the Receivables and the Related Assets included in such Purchase shall, subject to SECTION 1.6, vest in the Initial Purchaser, whether or not the conditions precedent to such Purchase were in fact satisfied; PROVIDED that the Initial Purchaser shall not be deemed to have waived any claim it may have under this Agreement for the failure by KBK in fact to satisfy any such condition precedent.
Appears in 3 contracts
Sources: Purchase and Sale Agreement (KBK Capital Corp), Purchase and Sale Agreement (KBK Capital Corp), Purchase and Sale Agreement (KBK Capital Corp)