Check-in Requirements. (a) The Borrower hereby covenants and agrees that, (i) not later than 20 days after the Borrowing Date, it shall cause to be delivered to the Custodian the Priority Documents related to Contracts whose aggregate Amortized Equipment Cost constitutes not less than 50% of the aggregate Amortized Equipment Cost of all Contracts, and (ii) not later than 40 days after the Borrowing Date, it shall cause to be delivered to the Custodian the Priority Documents for each Pledged Receivable; provided, however, that the Borrower shall be permitted to deliver to the Custodian a machine copy of any original, executed Contract (certified as a true copy (a “Certified True Copy”) by an officer of either the Obligor or the Borrower or its predecessor as lessor or lender thereunder) for Contracts whose aggregate Amortized Equipment Cost constitutes not more than 5% of the aggregate Amortized Equipment Cost of all Contracts.
Appears in 5 contracts
Samples: Receivables Loan and Security Agreement and Waiver (LEAF Equipment Finance Fund 4, L.P.), Receivables Loan and Security Agreement and Waiver (LEAF Equipment Leasing Income Fund III, L.P.), Receivables Loan and Security Agreement (LEAF Equipment Leasing Income Fund III, L.P.)
