The Sellers’ Optional Reduction of Purchasers’ Pool Investment. The Seller may at any time and from time to time elect to reduce (in whole or in part) Purchasers’ Pool Investment by giving or causing the Servicer to give the Collateral Agent and the Administrative Agent at least five (5) Business Days’ prior written notice (which shall be in substantially the form of Exhibit B hereto) of such elected reduction, which notice shall include (i) the proposed date of such reduction, which shall be a Settlement Date, and (ii) the amount of any such proposed reduction (which amount shall be not less than $5,000,000 and shall be an integral multiple of $100,000 thereafter). Any such requested reduction in the Purchasers’ Pool Investment shall be applied to reduce the Investments of each Purchaser to the extent Monthly Collections are available therefor in accordance with Section 3.1(d).
Appears in 3 contracts
Sources: Receivables Purchase Agreement (ADT Inc.), Receivables Purchase Agreement (ADT Inc.), Receivables Purchase Agreement (ADT Inc.)