ACKNOWLEDGEMENT OF THE BENEFICIARIES Sample Clauses

ACKNOWLEDGEMENT OF THE BENEFICIARIES. It is a condition of the Receivables Trust (to which, by the execution of a Supplement by a Beneficiary, such Beneficiary consents and confirms) that the Beneficiaries acknowledge that: (i) it is not intended that the Receivables Trustee should have any discretion with respect to the investment of funds as referred to in Clause 5.1(e) and (f) or that the duties of the Receivables Trustee should include any form of fund management; (ii) accordingly the provisions of Clause 5.1(e) and (f) (and all related provisions of the Transaction Documents) have been drawn so as to specify to the maximum extent practicable the manner in which the Servicer is to, from time to time, advise the Receivables Trustee (or any Person acting on the Receivables Trustee's behalf) to invest the funds referred to in Clause 5.1(e) and (f); (iii) subject to and in accordance with Clause 5.1(f), the duties of the Receivables Trustee with regard to the making of any such investments will be fully discharged by the Servicer advising the Receivables Trustee (or any Person acting on the Receivables Trustee's behalf as aforesaid) in relation thereto and the Receivables Trustee acting in accordance with such advice; and (iv) the investment of any funds by the Receivables Trustee acting on the advice of the Servicer in accordance with Clause 5.1(e) and (f) shall be wholly incidental and ancillary to the functions of the Receivables Trustee as described in Clause 2.1.
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ACKNOWLEDGEMENT OF THE BENEFICIARIES. It is a condition of the Receivables Trust (to which, by the execution of this Deed and/or any Supplement by a Beneficiary, such Beneficiary consents and confirms) that the Beneficiaries acknowledge that: (i) it is not intended that the Receivables Trustee should have any discretion with respect to the investment of funds as referred to in Clause 6.1(e) (Power of Investment) and 6.1(f) (Administration of the (ii) accordingly, the provisions of Clause 6.1(e) (Power of Investment) and 6.1
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ACKNOWLEDGEMENT OF THE BENEFICIARIES. It is a condition of the Delamare Cards Receivables Trust (to which, by the execution of a Trust Supplement by a Beneficiary, such Beneficiary consents and confirms) that the Beneficiaries acknowledge that: (i) it is not intended that the Receivables Trustee should have any discretion with respect to the investment of funds as referred to in Clause 5.1(g) (Power of Investment) and (h) (Trust Accounts) or that the duties of the Receivables Trustee should include any form of investment business or fund management;
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ACKNOWLEDGEMENT OF THE BENEFICIARIES. The Beneficiaries acknowledge that:
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ACKNOWLEDGEMENT OF THE BENEFICIARIES. The Beneficiaries acknowledge that: (i) it is not intended that the Receivables Trustee should have any discretion with respect to the investment of funds as referred to in Clause 5.1(e) and (f) or that the duties of the Receivables Trustee should include any form of fund management; (ii) accordingly the provisions of Clause 5.1(e) and (f) (and all related provisions of the Relevant Documents) have been drawn so as to specify to the maximum extent practicable the manner in which the Trust Cash Manager is to advise the Receivables Trustee from time to time to invest the funds referred to in Clause 5.1(e) and (f);
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Related to ACKNOWLEDGEMENT OF THE BENEFICIARIES

  • Confirmation of Representations Borrower shall deliver, in connection with any Securitization, (a) one or more Officer’s Certificates certifying as to the accuracy of all representations made by Borrower in the Loan Documents as of the date of the closing of such Securitization in all relevant jurisdictions, and (b) certificates of the relevant Governmental Authorities in all relevant jurisdictions indicating the good standing and qualification of Mortgage Borrower, Senior Mezzanine Borrower, Borrower and Holdings as of the date of the Securitization.

  • Reaffirmation of Representations The Borrower hereby repeats and reaffirms all representations and warranties made by the Borrower to the Administrative Agent and the Lenders in the Credit Agreement as amended by this Amendment and the other Credit Documents on and as of the date hereof with the same force and effect as if such representations and warranties were set forth in this Amendment in full.

  • Appointment of Representative (a) Selection Upon the occurrence of an Event of Default, a single representative shall be appointed to represent all of the Holders (the “Representative”). The Representative (i) may, but need not, be a Holder; (ii) shall not be affiliated with or related to the Company; and (iii) shall be selected by the Holders as follows: 1. For a period of up to twenty (20) business days following the Notice of Default, the Holders shall confer among themselves as to the appointment of a Representative. 2. If at any time during such twenty (20) day period, the Holders of a majority of the Notes, measured by the original Principal Amount of each such Note (a “Majority”), agree as to the appointment of a Representative, that person shall be the Representative.

  • Appointment of Representatives 11.01 The Employer acknowledges the right of the Union to appoint employees as Union Representatives. The Union will provide the Employer with the names of all Union Representatives within a reasonable period. 11.02 The Union shall determine the jurisdiction of each Union Representative, having regard to the plan of organization, the distribution of employees at the workplace and the administrative structure implied by the grievance procedure covered by this Agreement.

  • Appointment of Rights Agent The Company hereby appoints the Rights Agent to act as agent for the Company and the holders of the Rights (who, in accordance with Section 3 hereof, shall prior to the Distribution Date also be the holders of the Common Shares) in accordance with the terms and conditions hereof, and the Rights Agent hereby accepts such appointment. The Company may from time to time appoint such co-Rights Agents as it may deem necessary or desirable.

  • APPOINTMENT OF CUSTODIAN; ACCOUNTS; REPRESENTATIONS, WARRANTIES, AND COVENANTS (a) Each Fund hereby appoints Custodian as custodian of all Securities and cash at any time delivered to Custodian during the term of this Agreement, and authorizes Custodian to hold Securities in registered form in its name or the name of its nominees. Custodian hereby accepts such appointment and agrees to establish and maintain one or more securities accounts and cash accounts for each Series in which Custodian will hold Securities and cash as provided herein. Custodian shall maintain books and records segregating the assets of each Series from the assets of any other Series. Such accounts (each, an "Account"; collectively, the "Accounts") shall be in the name of the Fund on behalf of the relevant Series. (a) Custodian may from time to time establish on its books and records such sub-accounts within each Account as a Fund and Custodian may reasonably agree upon (each a "Special Account"), and Custodian shall reflect therein such assets as the Fund may specify in a Certificate or Instructions. (b) Custodian may from time to time establish pursuant to a written agreement with and for the benefit of a broker, dealer, futures commission merchant or other third party identified in a Certificate or Instructions such accounts on such terms and conditions as a Fund and Custodian shall reasonably agree, and Custodian shall transfer to such account such Securities and money as the Fund may specify in a Certificate or Instructions.

  • Appointment of Administrator Each Trust hereby appoints EIS as Administrator of the Trust and each of its series listed on SCHEDULE A attached hereto on the terms and conditions set forth in this Agreement; and EIS hereby accepts such appointment and agrees to perform the services and duties set forth in Section 2 of this Agreement in consideration of the compensation provided for in Section 4 hereof.

  • Termination of Representative The services of a Representative may be terminated at any time by the affirmative vote of Holders holding a majority of the Notes, measured by the outstanding principal amount with respect to each such Note, but only if they simultaneously appoint a replacement Representative.

  • Ratification and Reaffirmation Each Borrower hereby ratifies and reaffirms the Obligations, each of the Loan Documents and all of such Borrower's covenants, duties, indebtedness and liabilities under the Loan Documents.

  • Repetition of Representations Delivery of an Accession Letter constitutes confirmation by the relevant Subsidiary that the Repeating Representations are true and correct in relation to it as at the date of delivery as if made by reference to the facts and circumstances then existing.

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