Common use of Purchase Price and Payment Date Clause in Contracts

Purchase Price and Payment Date. Each loan purchased by the Receiver pursuant to this Section 3.4 shall be purchased at a price equal to the price paid by the Agent Bank for such loan, adjusted for any payments received after Bank Closing. The Receiver shall pay the purchase price determined pursuant to this Section 3.4(e) not later than the twentieth (20th) Business Day following the applicable Put Date, together with interest on such amount at the Settlement Interest Rate for the period from and including such Put Date to and including the day preceding the date upon which payment is made.