Acceleration Upon Certain Events. The Borrower's obligation to pay the unpaid principal amount hereof shall forthwith mature, together with interest accrued thereon, in the event of any receivership, insolvency, liquidation, bankruptcy, assignment for the benefit of creditors, reorganization whether or not pursuant to bankruptcy laws, or any other marshalling of the assets and liabilities of the Borrower, but payment of the same shall remain subordinate as hereinabove set forth.
Appears in 7 contracts
Samples: Receivables Purchase Agreement (A I Receivables Transfer Corp), Receivables Purchase Agreement (Partners First Receivables Funding Corp), Receivables Purchase Agreement (Partners First Credit Card Master Trust)
Acceleration Upon Certain Events. The Borrower's ’s obligation to pay the unpaid principal amount hereof shall forthwith mature, together with interest accrued thereon, in the event of any receivership, insolvency, liquidation, bankruptcy, assignment for the benefit of creditors, reorganization whether or not pursuant to bankruptcy laws, or any other marshalling of the assets and liabilities of the Borrower, but payment of the same shall remain subordinate subordinated as hereinabove set forth.
Appears in 4 contracts
Samples: Receivables Purchase Agreement (Chase Card Funding LLC), Receivables Purchase Agreement, Receivables Purchase Agreement (Chase Issuance Trust)
