Common use of Conveyance of Purchased Contracts Clause in Contracts

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2013-C), Purchase Agreement (CNH Equipment Trust 2013-C)

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Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 0 (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Capital Receivables LLC), Purchase Agreement (CNH Equipment Trust 2008-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 464,968,304.54 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2013-D), Purchase Agreement (CNH Equipment Trust 2013-D)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 208,461,860.34 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2012-B), Purchase Agreement (CNH Equipment Trust 2012-B)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 38,688,303.52 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2011-B), Purchase Agreement (CNH Equipment Trust 2011-B)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 199,605,871.53 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA CNHICA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA CNHICA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA CNHICA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA CNHICA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA CNHICA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2015-A), Purchase Agreement (CNH Equipment Trust 2015-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 189,383,692.55 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2011-A), Purchase Agreement (CNH Equipment Trust 2011-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 156,773,165.46 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2014-A), Purchase Agreement (CNH Equipment Trust 2014-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 506,717,850.22 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2013-A), Purchase Agreement (CNH Equipment Trust 2013-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 272,866,677.64 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2013-B), Purchase Agreement (CNH Equipment Trust 2013-B)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 227,322,338.55 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2011-C), Purchase Agreement (CNH Equipment Trust 2011-C)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 19,164,053.13 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2012-A), Purchase Agreement (CNH Equipment Trust 2012-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 234,789,717.35 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA CNHICA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA CNHICA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA CNHICA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA CNHICA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA CNHICA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Capital Receivables LLC), Purchase Agreement (CNH Capital Receivables LLC)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 35,075,273.54 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA CNHICA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA CNHICA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA CNHICA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA CNHICA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA CNHICA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2014-C), Purchase Agreement (CNH Equipment Trust 2014-C)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 0.00 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2012-C), Purchase Agreement (CNH Equipment Trust 2012-C)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 380,805,419.82 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2012-D), Purchase Agreement (CNH Equipment Trust 2012-D)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 234,351,535.76 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA CNHICA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA CNHICA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA CNHICA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA CNHICA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA CNHICA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2015-C), Purchase Agreement (CNH Equipment Trust 2015-C)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 (the 183,528,856.14(the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA CNHICA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA CNHICA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA CNHICA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA CNHICA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA CNHICA set forth in Section 6.2 of this Agreement.

Appears in 2 contracts

Samples: Purchase Agreement (CNH Equipment Trust 2015-B), Purchase Agreement (CNH Equipment Trust 2015-B)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 274,867,905.03 (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Equipment Trust 2009-B)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 193,339,318.83 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Equipment Trust 2010-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 0 (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Capital Receivables LLC)

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Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 12,450,670.56 (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Capital Receivables LLC)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 184,011,912.47 (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment)Obligors; (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Equipment Trust 2007-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 145,470,529.45 (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies moneys paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment)Obligors; (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned ContractsContracts other than any interest in the Dealers’ reserve accounts maintained with CNHCA; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Equipment Trust 2006-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 $ (the “[Initial] Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA CNHICA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA [Initial] CNHICA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the [Initial] Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA CNHICA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA CNHICA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA CNHICA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Capital Receivables LLC)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 $ (the “[Initial] Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “[Initial] CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the [Initial] Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Capital Receivables LLC)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 $ (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Capital Receivables LLC)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 197,190,386.91 (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment)Obligors; (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned ContractsContracts other than any interest in the Dealers’ reserve accounts maintained with CNHCA; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Equipment Trust 2006-B)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 47,369,757.61 (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Equipment Trust 2009-A)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 243,281,119.42 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Equipment Trust 2010-C)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 214,706,361.42 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Equipment Trust 2010-B)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 $ (the “[Initial] Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “[Initial] CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the [Initial] Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Capital Receivables LLC)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 $ (the “Initial Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest and, with respect to any Contracts that are Leases, obligations in, to and under (collectively, the “Initial CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies moneys paid thereunder on or after the Initial Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment)Obligors; (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned ContractsContracts other than any interest in the Dealers’ reserve accounts maintained with CNHCA; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; (vi) any True Lease Equipment that is subject to any Purchased Contract or any Owned Contract; and (vivii) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Capital Receivables LLC)

Conveyance of Purchased Contracts. In consideration of CNHCR’s payment of $188,556,415.09 282,002,065.12 (the “Purchase Price”) in the manner set out in Section 2.5(a), and the other consideration (including the terms and covenants) contained herein, CNHCA does hereby sell, transfer, assign, set over and otherwise convey to CNHCR, without recourse (subject to the obligations herein), all of its right, title, interest in, to and under (collectively, the “CNHCA Assets”): (i) the Purchased Contracts and the Owned Contracts, including all documents constituting chattel paper included therewith, and all obligations of the Obligors thereunder, including all monies paid thereunder on or after the Cutoff Date; (ii) the security interests in the Financed Equipment granted by Obligors pursuant to the Purchased Contracts and the Owned Contracts and any other interest of CNHCA in such Financed Equipment; (iii) any proceeds with respect to the Purchased Contracts and the Owned Contracts from claims on insurance policies covering Financed Equipment or Obligors (to the extent not used to purchase Substitute Equipment); (iv) any proceeds from recourse to Dealers with respect to the Purchased Contracts and the Owned Contracts; (v) any Financed Equipment that shall have secured the Purchased Contracts and the Owned Contracts and that shall have been acquired by or on behalf of CNHCR; and (vi) the proceeds of any and all of the foregoing. Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement. The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (CNH Equipment Trust 2009-C)

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