Aggregate Receivables Sample Clauses

Aggregate Receivables. As of the Initial Funding Date with respect to the Initial Receivables and as of the related Funding Date with respect to the Additional Receivables, as applicable: i. Each Initial Receivable and Additional Receivable is payable in United States dollars. Each Additional Receivable has been created pursuant to and in accordance with the terms of the Servicing Contract, in accordance with the Seller's customary procedures with respect to the Mortgage Loans included in the Xxxxxxx Mac Pool, and in the ordinary course of business of the Seller. ii. The sale to the Depositor and the sale and/or contribution to the Issuer of the rights to reimbursement for the Delinquency Advances and Servicing Advances with respect to Mortgage Loans included in the Xxxxxxx Mac Pool, and the assignment and Grant thereof to the Indenture Trustee, does not violate the terms of the Servicing Contract or any other material document or agreements to which the Seller is a party or to which its assets or properties are subject. iii. No Receivable has been sold, transferred, assigned or pledged by the Seller to any Person other than the Depositor or by the Depositor to any other Person other than the Issuer. Immediately prior to the transfer and assignment herein contemplated, the Seller was the sole owner with respect to each such Receivable, and had the right to transfer and sell such Receivable, free and clear of all Liens and rights of others other than Permitted Liens; immediately upon the transfer and assignment thereof, the Issuer shall own all of such interest in and to such Receivable, free and clear of all Liens and rights of others (other than Permitted Liens). iv. Seller has not taken any action that, or failed to take any action the omission of which, would materially impair the rights of the Depositor, the Issuer, the Indenture Trustee (or any Secured Party) with respect to any such Receivable. v. No such Receivable has been identified by the Seller or reported to the Seller as having resulted from fraud perpetrated by any Person with respect to such Receivable. vi. All filings (including UCC filings) necessary in any jurisdiction to perfect the transfers and assignments herein contemplated, and solely in the event that any of the transfers contemplated hereby were to be recharacterized as a pledge or secured loan from the Depositor to the Seller and an assignment thereof from the Depositor to the Issuer rather than absolute sales or contributions, to perfect the Depositor...
Sample 1See All (8)
AutoNDA by SimpleDocs
Aggregate Receivables. All Initial Receivables and all Additional Receivables related to Designated Servicing Agreements on the Closing Date (with respect to the Initial Receivables) or the related Sale Date (with respect to the Additional Receivables), which Initial Receivables and Additional Receivables are sold and/or contributed by the Receivables Seller to the Depositor under the Receivables Sale Agreement and sold and/or contributed by the Depositor to the Issuer under the Receivables Pooling Agreement.
Sample 1
Aggregate Receivables. Each Initial Receivable and Additional Receivable is payable in United States dollars and has been created pursuant to and in accordance with the terms of the related REMIC Pooling Agreement and with the customary procedures and in the ordinary course of business of the Seller and is being sold and/or contributed by the Seller to the Issuer hereunder.
Sample 1
Aggregate Receivables. As of any date of determination, all Initial Receivables and all Additional Receivables on such date, (a) which OLS Initial Receivables were sold to HLSS and all Initial Receivables were sold and/or contributed by HLSS to the Depositor under the Receivables Sale Agreement and sold and/or contributed by the Depositor to the Issuer under the Receivables Pooling Agreement, (b) (1) which OLS Additional Receivables are sold to HLSS by OLS under the Receivables Sale Agreement and (2) which Deferred Servicing Fee Receivables arise when servicing fees that were sold to HLSS by OLS under the Purchase Agreement become Deferred Servicing Fee Receivables (or, after the related MSR Transfer Date, are earned by HLSS, as Servicer) and which aggregate Additional Receivables are sold and/or contributed by HLSS to the Depositor under the Receivables Sale Agreement and which aggregate Additional Receivables are sold and/or contributed by the Depositor to the Issuer under the Receivables Pooling Agreement and (c) which Receivables were sold by any Prior Issuer to the Issuer on the initial Funding Date or any Funding Date pursuant to an Assignment and Recognition Agreement.
Sample 1
Aggregate Receivables. (i) All Initial Receivables under a Designated Servicing Agreement sold and/or contributed by OLS, as receivables seller, to the Depositor under the Original Receivables Sale Agreement and (ii) all Additional Receivables under a Designated Servicing Agreement sold and/or contributed by HLSS, as receivables seller, to the Depositor hereunder (including any such Receivables acquired by HLSS from OLS prior to the MSR Transfer Date).
Sample 1
Aggregate Receivables. All Initial Receivables and all Additional Receivables sold and/or contributed by the Depositor to the Issuer hereunder.
Sample 1
Aggregate Receivables. (i) All Initial Receivables under a Designated Servicing Agreement sold and/or contributed by the Depositor to the Issuer under the Original Receivables Pooling Agreement and (ii) all Additional Receivables under a Designated Servicing Agreement sold and/or contributed by the Depositor to the Issuer hereunder.
Sample 1
AutoNDA by SimpleDocs
Aggregate Receivables. The Transferor shall maintain --------------------- the Aggregate Receivables at a level such that the Transferor Amount (plus any amounts available under the Transferor Letter of Credit or the Transferor Escrow Account and the B/F Amount) is equal to or greater than _% (the "Minimum Transferor Interest Percentage") of the Aggregate Invested -------------------------------------- Amount of all Series of Certificates issued by the Trust. On each Determination Date, the Transferor shall calculate whether the Aggregate Receivables have been maintained at the specified level.
Sample 1

Related to Aggregate Receivables

  • Eligible Receivables Each Receivable included as an Eligible Receivable in the calculation of the Net Receivables Pool Balance as of any date is an Eligible Receivable as of such date.

  • Receivables (a) No amount payable to such Grantor under or in connection with any Receivable is evidenced by any Instrument or Chattel Paper which has not been delivered to the Administrative Agent. (b) None of the obligors on any Receivables is a Governmental Authority. (c) The amounts represented by such Grantor to the Lenders from time to time as owing to such Grantor in respect of the Receivables will at such times be accurate.

  • Net Receivables Balance Seller has determined that, immediately after giving effect to each purchase hereunder, the Net Receivables Balance is at least equal to the sum of (i) the Aggregate Capital, plus (ii) the Aggregate Reserves.

  • Reassignment of Purchased Receivables Upon deposit in the Collection Account of the Purchase Amount of any Receivable repurchased by Seller under Section 5.1 hereof, Purchaser and the Issuer shall take such steps as may be reasonably requested by Seller in order to assign to Seller all of Purchaser’s and the Issuer’s right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to Purchaser and the Issuer directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of Purchaser or the Issuer. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Seller may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Purchaser and the Issuer shall, at the expense of Seller, take such steps as Seller deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser’s or in the Issuer’s name.

  • No Delinquent Receivables As of the Cutoff Date, no payment due under any Receivable was more than 30 days past due.

  • Reassignment of Ineligible Receivables (a) In the event any representation or warranty under Subsection 4.02(a)(ii), (iii), (iv), (vii), (viii), (ix) or (x) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and as a result of such breach RFC VIII is required under Subsection 2.6(a) of the Transfer Agreement to accept reassignment of such Receivables previously sold by TRS to RFC VIII pursuant to this Agreement, TRS shall accept reassignment of such Receivables on the terms and conditions set forth in Subsection 6.01(b). (b) TRS shall accept reassignment of any Receivables described in Subsection 6.01(a) from RFC VIII on the date on which such Receivables are reassigned to RFC VIII pursuant to Subsection 2.6(a) of the Transfer Agreement, and shall pay for such reassigned Receivables by paying to RFC VIII in immediately available funds an amount equal to the unpaid balance of such Receivables. Upon reassignment of such Receivables, RFC VIII shall automatically and without further action sell, transfer, assign, set-over and otherwise convey to TRS, without recourse, representation or warranty, all the right, title and interest of RFC VIII in and to such Receivables, all Recoveries allocable to such Receivables, all monies due or to become due and all amounts received or receivable with respect thereto, all Collections with respect thereto, and all proceeds (including “proceeds” as defined in the UCC) thereof. Such reassigned Receivables shall be treated by RFC VIII as collected in full as of the date on which they were reassigned. RFC VIII shall execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested by TRS to effect the conveyance of such Receivables and other property pursuant to this Subsection.

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $ 350,274,594.21.

  • The Receivables SECTION 3.01 Representations and Warranties of the Seller with Respect to the Receivables.......

  • Receivables Purchase Price On the Closing Date, the Purchaser shall deliver to the Seller the Receivables Purchase Price, as provided in Section 2.1(b).

  • Notes and Accounts Receivable All notes and accounts receivable of the Company, all of which are reflected properly on the books and records of the Company, are valid receivables subject to no setoffs, defenses or counterclaims, are current and, to the Company's Knowledge, collectible subject in each case only to the reserve for bad debts set forth on the face of the Most Recent Balance Sheet as adjusted for operations and transactions through the Closing Date in accordance with the past custom and practice of the Company.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!