Common use of Company’s Obligations Absolute Clause in Contracts

Company’s Obligations Absolute. The provisions of this paragraph are intended solely for the purpose of defining the relative rights with respect to Proceeds of the Seller, on the one hand, and the Holders, on the other hand. Nothing contained in these provisions or elsewhere in this Seller Note is intended to or shall impair, as between the Company, its creditors (other than the Trustee) and the Seller, the Company's obligation, which is unconditional and absolute, to pay the Seller Subordinated Debt as and when the same shall become due and payable in accordance with the terms hereof and of the Receivables Sale Agreement or to affect the relative rights of the Seller and creditors of the Company (other than the Certificateholders); provided that any payments made by the Company pursuant to this subsection shall be made solely from funds available to the Company which are not otherwise needed to be applied to the payment of any amounts by the Company pursuant to any Pooling and Servicing Agreements, and the Seller shall make no claim against the Company for payment in contravention of this proviso.

Company’s Obligations Absolute. The provisions of this paragraph are intended solely for the purpose of defining the relative rights with respect to Proceeds of the SellerSellers, on the one hand, and the Holders, Holders on the other hand. Nothing contained in these provisions or elsewhere in this Seller Note is intended to or shall impair, as between the Company, its creditors (other than the TrusteeHolders) and the SellerSellers, the Company's obligation, which is unconditional and absolute, to pay the Seller Subordinated Debt as and when the same shall become due and payable in accordance with the terms hereof and of the Receivables Sale Agreement or to affect the relative rights of the Seller Sellers and creditors of the Company (other than the CertificateholdersHolders); provided that any payments made by the Company pursuant to this subsection shall be made solely from funds available to the Company which are not otherwise needed to be applied to the payment of any amounts by the Company pursuant to any Pooling and Servicing Agreements, shall be non-recourse other than with respect to proceeds in excess of the proceeds to make such payment, and the Seller shall make no not constitute a claim against the Company for payment in contravention of this provisoto the extent that insufficient proceeds exist to make such payment.

Company’s Obligations Absolute. The provisions of this paragraph are intended solely for the purpose of defining the relative rights with respect to Proceeds of the SellerSellers, on the one hand, and the Holders, on the other hand. Nothing contained in these provisions or elsewhere in this Seller Note is intended to or shall impair, as between the Company, its creditors (other than the TrusteeHolders) and the SellerSellers, the Company's obligation, which is unconditional and absolute, to pay the Seller Subordinated Debt as and when the same shall become due and payable in accordance with the terms hereof and of the Receivables Sale Agreement or to affect the relative rights of the Seller Sellers and creditors of the Company (other than the Certificateholders); provided that any payments made by the Company pursuant to this subsection shall be made solely from funds available to the Company which are not otherwise needed to be applied to the payment of any amounts by the Company pursuant to any Pooling and Servicing Agreements, shall be non-recourse other than with respect to proceeds in excess of the proceeds to make such payment, and the Seller shall make no not constitute a claim against the Company for payment in contravention of this provisoto the extent that insufficient proceeds exist to make such payment.