BILL XX SALE/BUYER'S RIGHT TO ACT Sample Clauses

BILL XX SALE/BUYER'S RIGHT TO ACT. On the applicable Transfer Date, each Seller shall deliver to Buyer a Bill xx Sale, in the form of Exhibit E hereto, executed by an authorized representative of such Seller, which Bill xx Sale shall sell, transfer, assign, set-over, quitclaim and convey to Buyer all right, title and interest of such Seller in and to (i) each of the Accounts sold hereunder, and (ii) the proceeds of the Accounts sold hereunder, subject to Article III and Article V, received by GTC after the applicable Cut-Off Date, if any. On or before the initial Transfer Date, such Seller shall also deliver to Buyer a UCC Financing Statement for such Seller. Buyer shall have no right to communicate with any Debtor or otherwise take any action with respect to any Account or any Debtor until after the transfer of the Account to Buyer.
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