Common use of Selection and Continuation of Tranche Periods Clause in Contracts

Selection and Continuation of Tranche Periods. (a) With consultation from (and approval by) the applicable Co-Agent, the Seller shall from time to time request Tranche Periods for the Receivable Interests of the Committed Purchasers in each Group, provided that, if at any time the Committed Purchasers in a Group shall have a Receivable Interest, the Seller shall always request Tranche Periods such that at least one Tranche Period shall end on each date specified in clause (A) of the definition of Settlement Date. (b) The Seller or the applicable Co-Agent may, effective on the last day of a Tranche Period (the “Terminating Tranche”) for any Receivable Interest, divide any such Receivable Interest into multiple Receivable Interests or combine any such Receivable Interest with one or more other Receivable Interests which either have a Terminating Tranche ending on such day or are newly created on such day, provided that in no event may a Receivable Interest of a Conduit be combined with a Receivable Interest of its Committed Purchasers.

Selection and Continuation of Tranche Periods. (ai) With consultation from (and approval by) the applicable Co-Agent, the Seller shall from time to time request Tranche Periods for the Receivable Purchaser Interests of the Committed Purchasers in each Conduit Group, provided that, if at any time the Committed Purchasers in a Group shall have a Receivable Purchaser Interest, the Seller shall always request Tranche Periods such that at least one Tranche Period shall end on each date specified in clause (A) of the definition of Settlement Date. (bii) The Seller or the applicable Co-Agent may, effective on the last day of a Tranche Period (the “Terminating Tranche”) for any Receivable Interest, divide any such Receivable Interest into multiple Receivable Interests or combine any such Receivable Interest with one or more other Receivable Interests which either have a Terminating Tranche ending on such day or are newly created on such day, provided that in no event may a Receivable Interest of a Conduit be combined with a Receivable Interest of its Committed Purchasers.

Selection and Continuation of Tranche Periods. (a) With consultation from (and approval by) the applicable Co-AgentInvestor Agent for the related Group, the RPA Seller shall from time to time request Tranche Periods for the Receivable Purchaser Interests held by the Financial Institutions of the Committed Purchasers in each such Group, provided that, if at any time the Committed Purchasers in a Financial Institutions of such Group shall have hold a Receivable Purchaser Interest, the RPA Seller shall always request Tranche Periods such that at least one Tranche Period shall end on the 20th day of each date specified in clause month (A) of or, if such day is not a Business Day, then on the definition of Settlement Datenext Business Day). (b) The RPA Seller or the applicable Co-Investor Agent may, effective on the last day of a Tranche Period for any Purchaser Interest (the “a "Terminating Tranche”) for any Receivable Interest"), divide any such Receivable Purchaser Interest into multiple Receivable Purchaser Interests or combine any such Receivable Purchaser Interest with one or more other Receivable Purchaser Interests which are either have a Terminating Tranche ending on such day or are newly created on such day, provided that that, in no event may a Receivable Purchaser Interest of a Conduit be combined with a Receivable Purchaser Interest of its Committed Purchasersa Financial Institution.