Covenants of each Transferor. Each Transferor hereby severally covenants that: (a) Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee to be evidenced by any instrument (as defined in the UCC) and if any such Receivable is so evidenced as a result of any action taken by such Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.05(a) and shall be reassigned to such Transferor in accordance with subsection 2.05(b).
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii), Pooling and Servicing Agreement (American Express Credit Account Master Trust)
Covenants of each Transferor. Each Transferor hereby severally covenants that:
(a) Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Accountany Receivable, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee Trust to be evidenced by any instrument (as defined in the UCC) and if any such Receivable is so evidenced as (whether or not in connection with the enforcement or Collection of a result of any action taken by such Transferor Receivable) it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.05(a) and shall be reassigned to such Transferor in accordance with subsection Section 2.05(b).
Appears in 3 contracts
Samples: Master Indenture (Bon Ton Stores Inc), Transfer and Servicing Agreement (Nordstrom Credit Inc), Transfer and Servicing Agreement (Nordstrom Inc)
Covenants of each Transferor. Each Transferor hereby severally covenants that:
(a) Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee Trust to be evidenced by any instrument (as defined in the UCC) and if any such Receivable (or any underlying receivable) is so evidenced as a result of any action taken by such Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.05(a) and shall be reassigned to such Transferor in accordance with subsection 2.05(b).
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Associates Credit Card Receivables Corp), Transfer and Servicing Agreement (Advanta Business Recievables Corp)
Covenants of each Transferor. Each Transferor hereby severally covenants that:
(a) Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee Trust to be evidenced by any instrument (as defined in the UCC) and and, if any such Receivable is so evidenced as a result of any action taken by such Transferor Transferor, it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.05(a2.7(a) and shall be reassigned to such Transferor in accordance with subsection 2.05(b2.7(b).
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (American Express Issuance Trust), Transfer and Servicing Agreement (American Express Issuance Trust)
Covenants of each Transferor. Each Transferor hereby severally covenants that:
(a) Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee Trust to be evidenced by any instrument (as defined in the UCC) and if any such Receivable is so evidenced as a result of any action taken by such Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection Section 2.05(a) and shall be reassigned to such Transferor in accordance with subsection Section 2.05(b).
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Hrsi Funding Inc Ii), Transfer and Servicing Agreement (Hrsi Funding Inc Ii)
Covenants of each Transferor. Each Transferor hereby severally covenants that:
(a) Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee Trust to be evidenced by any instrument (as defined in the UCC) and if any such Receivable (or any underlying receivable) is so evidenced as a result of any action taken by such Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection Section 2.05(a) and shall be reassigned to such Transferor in accordance with subsection Section 2.05(b).
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Household Affinity Funding Corp Iii), Transfer and Servicing Agreement (Conseco Finance Credit Funding Corp)
Covenants of each Transferor. Each Transferor hereby ---------------------------- severally covenants that:
(a) Receivables Not To Be Evidenced by Promissory Notes. Except in --------------------------------------------------- connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee Trust to be evidenced by any instrument (as defined in the UCC) and if any such Receivable (or any underlying receivable) is so evidenced as a result of any action taken by such Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection Section 2.05(a) and shall be reassigned to such Transferor in accordance with subsection Section 2.05(b).
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Household Credit Card Master Note Trust I), Transfer and Servicing Agreement (Household Credit Card Master Note Trust I)
Covenants of each Transferor. Each Transferor hereby severally covenants with the Trust that:
(a) Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee Trust to be evidenced by any instrument (as defined in the UCC) and if any such Receivable is so evidenced as a result of any action taken by such Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection Section 2.05(a) and shall be reassigned to such Transferor in accordance with subsection Section 2.05(b).
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Conseco Finance Credit Card Funding Corp)
Covenants of each Transferor. Each Transferor hereby severally covenants that:
(a) Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee Trust to be evidenced by any instrument or chattel paper (as defined in the UCC) and if any such Receivable (or any underlying receivable) is so evidenced as a result of any action taken by such Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.05(a) and shall be reassigned to such Transferor in accordance with subsection 2.05(b).
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Advanta Business Recievables Corp)
Covenants of each Transferor. Each Transferor hereby severally covenants that:
(a) Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trustee Trust to be evidenced by any instrument or chattel paper (as defined in the UCC) and if any such Receivable (or any underlying receivable) is so evidenced as a result of any action taken by such Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection Section 2.05(a) and shall be reassigned to such Transferor in accordance with subsection Section 2.05(b).
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Household Affinity Funding Corp Iii)
