Common use of Conditions to Obligation of the Depositor Clause in Contracts

Conditions to Obligation of the Depositor. The obligation of the Depositor to transfer the Receivables to the Issuer on the Closing Date or each Funding Date, as the case may be, is subject to the satisfaction of the following conditions: (a) The representations and warranties of the Issuer hereunder shall be true and correct on the Closing Date or such Funding Date, as the case may be, with the same effect as if then made, and the Issuer shall have performed all obligations to be performed by it hereunder on or prior to the Closing Date or such Funding Date, as the case may be. (b) All corporate and legal proceedings and all instruments in connection with the transactions contemplated by this Agreement shall be satisfactory in form and substance to the Depositor and the Agent, and the Depositor and the Agent shall have received from the Issuer copies of all documents relevant to the transactions herein contemplated as the Depositor or the Agent may have requested. (c) The Depositor shall have received the related Receivables Purchase Price on the Closing Date and each Funding Date.

Conditions to Obligation of the Depositor. The obligation of the Depositor to transfer the Receivables to the Issuer on the Closing Date or each Funding Date, as the case may be, Date is subject to the satisfaction of the following conditions: (a) The representations and warranties of the Issuer hereunder shall be true and correct on the Closing Date or such Funding Date, as the case may be, with the same effect as if then made, and the Issuer shall have performed all obligations to be performed by it hereunder on or prior to the Closing Date or such Funding Date, as the case may be. (b) All corporate and legal proceedings and all instruments in connection with the transactions contemplated by this Agreement shall be satisfactory in form and substance to the Depositor and the Agent, and the Depositor and the Agent shall have received from the Issuer copies of all documents relevant to the transactions herein contemplated as the Depositor or the Agent may have requested. (c) The Depositor shall have received the related Receivables Purchase Price on the Closing Date and each such Funding Date.