Timing of Purchases Clause Samples
The "Timing of Purchases" clause defines when and under what conditions purchases must be made under an agreement. It typically sets specific dates, timeframes, or triggers for when a buyer is obligated to place orders or when a seller must fulfill them. For example, it may require purchases to occur within a certain period after contract signing or at regular intervals. This clause ensures both parties have clear expectations regarding the schedule of transactions, helping to prevent misunderstandings and coordinate supply and demand effectively.
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Timing of Purchases. All of the Receivables existing at the opening of an Originator’s business on the Restatement Date are hereby sold or contributed (solely in the case of Outernet), as applicable, to Buyer on such date in accordance with the terms hereof. All of the Receivables originated by any Originator on any date after the Restatement Date until the Purchase and Sale Termination Date shall be sold or contributed (solely in the case of Outernet), as applicable, to Buyer on such date in accordance with the terms hereof. Buyer shall pay to the applicable Originator on the date of such sale the applicable cash Purchase Price for the Receivables sold to Buyer in immediately available funds; provided, however, to the extent that Buyer does not have funds available to pay the Purchase Price due on the sale date in cash (such cash insufficiency being a “Deferred Payment”), such Deferred Payment shall be deemed to have been funded by the related Originator through either (i) an advance under the Subordinated Note, subject to the limitation in Section 2.3(e) below or (ii) (solely in the case of Outernet) as a capital contribution, subject to the limitations in Section 2.3(d) below. On and after the Restatement Date until the Purchase and Sale Termination Date, each Receivable shall be deemed to have been sold or contributed (solely in the case of Outernet) to Buyer immediately (and without further action by any Person) upon the creation or acquisition (solely in the case of Outernet) of such Receivable by the related Originator or on the Restatement Date in the case of the sale or contribution (solely in the case of Outernet) on such date. The Related Assets with respect to each Receivable shall be sold or contributed (solely in the case of Outernet) at the same time as such Receivable, whether such Related Assets exist at such time or arise, are acquired or are originated thereafter. Buyer has executed and delivered in the form attached to this Agreement as Exhibit 2.2, a subordinated promissory note (the “Subordinated Note”) to Outernet for the benefit of the Originators. On the Restatement Date, the aggregate outstanding principal balance of the Subordinated Note will be $15,000,000. The Servicer shall make all appropriate record keeping entries with respect to the Subordinated Note to reflect (x) the payments and reductions made pursuant to Section 2.3 and (y) the portion of aggregate principal amount outstanding under the Subordinated Note payable for the benefit of each Or...
Timing of Purchases. This Option is not exercisable in any part until one (1) year after the date of grant. Subject to the provisions for termination and acceleration, this Option shall become exercisable in installments as follows:
(a) after one (1) year after the date of grant, up to fifty percent (50%) of the total number of shares optioned; and
(b) after two (2) years after the date of grant, up to all of the optioned shares until and including the expiration date of the Option whereupon the Option shall expire and may thereafter no longer be exercised. The Company hereby agrees that at all times there shall be reserved for issuance and delivery upon exercise of the Option such number of shares of its Common Stock as shall be required for issuance and delivery upon full exercise of the Option.
Timing of Purchases. All of the Receivables existing at the opening of each Originator’s business on the Closing Date are hereby sold or contributed, as applicable, to Buyer on such date in accordance with the terms hereof. In respect of purchases on the Closing Date sold by such Originator hereunder, Buyer shall pay the respective Originators the applicable cash Purchase Price for the Receivables within two (2) Business Days after such creation in immediately available funds; provided, however, to the extent that Buyer does not have funds available to pay the Purchase Price due on any day in cash (such cash insufficiency being a “Deferred Payment”), then until such Deferred Payment is made in cash, the Deferred Payment shall be deemed principal, as applicable to each Originator, of the respective Subordinated Notes, subject to the limitation in Section 2.3(d) below. On and after the Closing Date until the Purchase Termination Date, each Receivable shall be deemed to have been sold or contributed to Buyer immediately (and without further action by any Person) upon the creation or acquisition of such Receivable. The Related Assets with respect to each Receivable shall be sold or contributed at the same time as such Receivable, whether such Related Assets exist at such time or arise, are acquired or are originated thereafter.
Timing of Purchases. (a) Closing Date Purchases. The Originator's entire right, title and interest in, to and under (i) each Receivable that existed and was owing to the Originator at the Cut-off Date (other than Contributed Receivables), (ii) all Receivables created by the Originator from and including the Cut-off Date, to and including the Closing Date (other than Contributed Receivables), and (iii) all Related Rights with respect thereto automatically shall be deemed to have been sold by the Originator to the Company on the Closing Date.
Timing of Purchases. 5 SECTION 1.3 CONSIDERATION FOR PURCHASES...........................................................................5 SECTION 1.4 SALE TERMINATION DATE.................................................................................6
Timing of Purchases. (a) Closing Date Purchases. The Originator's entire right, title and interest in (i) each Receivable that existed and was owing to the Originator as of the opening of the Originator's business on the Closing Date, (other than Contributed Receivables) and (ii) all Related Rights with respect thereto shall be sold to the Company on the Closing Date.
Timing of Purchases. (a) All of the Receivables existing at the opening of each Originator’s business on the Closing Date are hereby sold or contributed, as applicable, to Buyer on such date in accordance with the terms hereof.
(b) On and after the Closing Date until the Purchase and Sale Termination Date, each Receivable shall be sold or contributed to Buyer immediately (and without further action by any Person) upon the creation or acquisition of such Receivable by the related Originator. The Related Assets with respect to each Receivable shall be sold or contributed at the same time as such Receivable, whether such Related Assets exist at such time or arise, are acquired or are originated thereafter.
Timing of Purchases. Each Series expects to issue Shares pursuant to the Plan immediately following each Distribution payment date and the Plan Administrator will make every reasonable effort to reinvest all Distributions on the day the Distribution is paid (except where necessary to comply with applicable securities laws) by such Series. If, for any reason beyond the control of the Plan Administrator, reinvestment of the Distributions cannot be completed within 30 days after the applicable Distribution payment date, funds held by the Plan Administrator on behalf of a participant will be distributed to that participant.
Timing of Purchases. At any time or from time to time between the date hereof and December 31, 1999, Five Arrows shall be required, subject to the conditions set forth below, to purchase Shares within 10 days of receipt of a notice from CHP (a "Notice of Purchase") which notice shall (a) state that CHP has received notice from Hospitality Partners requesting that Hospitality Partners fund all or any portion of the Hospitality Commitment (each such amount to be funded to be referred to as an "Incremental Funding") and (b) specify the portion of the Five Arrows Investment to be made which shall not exceed the lesser of the balance of the Five Arrows Commitment or 37.52% of the applicable Incremental Funding; provided, however, that such portion shall be rounded down to the nearest whole share so as to avoid the issuance of fractional shares of CHP Common Stock, and the date (each a "Closing Date") such Shares are to be purchased (a "Purchase," and the first Purchase, the "Initial Purchase").
Timing of Purchases. Subject to the other terms of this Agreement regarding the exercisability of this Option, this Option may be exercised in accordance with the following schedule: