Aggregate Receivables Clause Samples
The Aggregate Receivables clause defines how multiple individual receivables owed to a party are combined and treated as a single, collective sum for contractual or accounting purposes. In practice, this means that instead of handling each receivable separately, the total amount due from various invoices or obligations is aggregated, which can simplify payment processing, reporting, or enforcement actions. This clause is primarily used to streamline financial management and reduce administrative complexity by consolidating multiple payment obligations into one manageable figure.
Aggregate Receivables. (i) 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 Pooling and Servicing Agreement, in accordance with the Seller’s customary procedures with respect to the applicable Securitization Trust and in the ordinary course of business of the Seller.
(ii) The sale and/or contribution to the Depositor and the Issuer of the rights to reimbursement for the Advances and Servicing Advances under each Securitization Trust, and the assignment and Grant thereof to the Indenture Trustee, does not violate the terms of the related Pooling and Servicing Agreement or any other 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. 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; 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 the Lien created by the Indenture).
(iv) As of the date of conveyance thereof, the 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.
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.
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.
Aggregate Receivables. All Initial Receivables and all Additional Receivables sold and/or contributed by the Depositor to the Issuer hereunder.
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.
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.
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.
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).