Common use of Conditions to the Buyer's Obligations Regarding Receivables Clause in Contracts

Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: (a) All representations and warranties of the Seller contained in this Agreement shall be true and correct on the Initial Closing Date and on the day of creation of any Receivable created thereafter with the same effect as though such representations and warranties had been made on such date; (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Date; (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the Seller shall have filed the financing statement(s) required to be filed pursuant to Section 2.1(b); and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.

Appears in 3 contracts

Samples: Purchase Agreement (Metris Companies Inc), Purchase Agreement (Fingerhut Receivables Inc), Purchase Agreement (Fingerhut Receivables Inc)

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Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: (a) All representations and warranties of the Seller contained in this Agreement shall be true and correct on the Initial Closing Date and on the day of creation purchase of any Receivable created purchased thereafter with the same effect as though such representations and warranties had been made on such date; (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Date; (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the Seller shall have filed the financing statement(s) required to be filed pursuant to Section 2.1(b); and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.

Appears in 2 contracts

Samples: Purchase Agreement (Fingerhut Receivables Inc), Purchase Agreement (Fingerhut Receivables Inc)

Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: (a) All representations and warranties of the Seller contained in this Agreement shall be true and correct on the Initial Closing Date and on the day of creation sale of any Receivable created thereafter with the same effect as though such representations and warranties had been made on such date;, (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of ProcessingBusiness Day, in the case of Receivables created sold to the Buyer after the Initial Closing Date;, (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement;, (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the Seller shall have filed the financing statement(s) required to be filed pursuant to Section 2.1(b); , and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Credit Store Inc), Receivables Purchase Agreement (Credit Store Inc)

Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: (a) All representations and warranties of the Seller contained in this Agreement shall be true and correct on the Initial Closing Date and on the day of creation of any Receivable created thereafter with the same effect as though such representations and warranties had been made on such date; (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Date; (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the Seller shall have filed the financing statement(s) required to be filed pursuant to Section 2.1(b); and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.

Appears in 1 contract

Samples: Bank Receivables Purchase Agreement (Fingerhut Receivables Inc)

Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: (a) All representations and warranties of the Seller contained in Section 4.2 of this Agreement shall be true and correct on the Initial Closing Date and on the day of creation of any Receivable created thereafter with the same effect as though such representations and warranties had been made on such date; (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Date; (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the Seller shall have filed the financing statement(s) required to be filed pursuant to Section 2.1(bSECTION 2.1(B); and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.

Appears in 1 contract

Samples: Bank Receivables Purchase Agreement (Fingerhut Receivables Inc)

Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: : (a) All representations and warranties of the Seller contained in this Agreement shall be true and correct on the Initial Closing Date and on the day of creation of any Receivable created thereafter with the same effect as though such representations and warranties had been made on such date; ; (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Date; ; (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; ; (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the Seller shall have filed the financing statement(s) required to be filed pursuant to Section 2.1(b); and and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.. Section

Appears in 1 contract

Samples: Purchase Agreement (Metris Receivables Inc)

Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: (a) All representations and warranties of the Seller contained in this Agreement Section 4.2 shall be true and correct on the Initial Closing Date and on the day of creation purchase of any Receivable created purchased thereafter with the same effect as though such representations and warranties had been made on such date; (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Date; (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the Seller shall have filed the financing statement(s) required to be filed pursuant to Section 2.1(b); and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.

Appears in 1 contract

Samples: Purchase Agreement (Fingerhut Receivables Inc)

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Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditionsconditions with respect to such Receivables: (a) All representations and warranties of the Seller contained in this Agreement shall be true and correct on the Initial Closing Date and on the day of creation of any Receivable created thereafter with the same effect as though such representations and warranties had been made on such date (unless such representation or warranty specifically relates to an earlier date); (b) All information concerning the such Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Datesuch date; (c) At the Initial Closing Date, the The Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the The Seller shall have filed the financing statement(s) statements required to be filed pursuant to Section subsection 2.1(b); and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.

Appears in 1 contract

Samples: Purchase Agreement (Metris Receivables Inc)

Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: (a) All representations and warranties of the Seller contained in this Agreement shall be true and correct on the Initial Closing Date and (except for the representation in Section 4.1(p)) on the day of creation of any Receivable created thereafter with the same effect as though such representations and warranties had been made on such date; (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Date; (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the Seller shall have filed the financing statement(s) required to be filed pursuant to Section 2.1(b); and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Metris Companies Inc)

Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase accept the transfer of the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: (a) All representations and warranties of the Seller contained in this Agreement shall be true and correct on the Initial Closing Date and on the day of creation of any Receivable created thereafter with the same effect as though such representations and warranties had been made on such date; (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Cut-Off Date, in the case of Receivables sold to the Buyer transferred on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Date; (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; (d) With respect to Receivables sold to transferred on or after the Buyer on tenth day following the Initial Closing Date, the Seller shall have filed the financing statement(s) statement required to be filed pursuant to Section 2.1(b5.1(s); and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.

Appears in 1 contract

Samples: Asset Purchase and Sale Agreement (Ingram Micro Inc)

Conditions to the Buyer's Obligations Regarding Receivables. The obligations of the Buyer to purchase the Receivables on any Business Day shall be subject to the satisfaction of the following conditions: : (a) All representations and warranties of the Seller contained in this Agreement shall be true and correct on the Initial Closing Date and on the day of creation of any Receivable created thereafter with the same effect as though such representations and warranties had been made on such date; ; (b) All information concerning the Receivables provided to the Buyer shall be true and correct in all material respects as of the Initial Closing Date, in the case of Receivables sold to the Buyer on the Initial Closing Date, or the applicable Date of Processing, in the case of Receivables created after the Initial Closing Date; ; (c) At the Initial Closing Date, the Seller shall have substantially performed all other obligations required to be performed by the provisions of this Agreement; ; (d) With respect to Receivables sold to the Buyer on the Initial Closing Date, the Seller shall have filed the financing statement(s) required to be filed pursuant to Section 2.1(b); and and (e) 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 Buyer, and the Buyer shall have received from the Seller copies of all documents (including, without limitation, records of corporate proceedings) relevant to the transactions herein contemplated as the Buyer may reasonably have requested.. Section

Appears in 1 contract

Samples: Bank Receivables Purchase Agreement (Metris Receivables Inc)

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