Covenants of the Transferor. The Transferor hereby covenants that: (a) Receivables to be Accounts or Payment Intangibles. The Transferor will take no action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the UCC as in effect in the Relevant UCC State), except in connection with the enforcement or collection of a Receivable. Except in such circumstances, the Transferor will take no action to cause any Receivable to be anything other than an “account” or a “payment intangible” (as defined in the UCC as in effect in the Relevant UCC State).
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Metris Master Trust), Pooling and Servicing Agreement (Metris Master Trust)
Covenants of the Transferor. The Transferor hereby covenants that:
(a) Receivables to be Accounts or Payment General Intangibles. The Transferor will take no action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the UCC as in effect in the Relevant UCC State), except in connection with the enforcement or collection of a Receivable. Except in such circumstances, the Transferor will take no action to cause any Receivable to be anything other than an “"account” " or a “payment "general intangible” " (each as defined in the UCC as in effect in the Relevant UCC State).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fingerhut Companies Inc)
Covenants of the Transferor. The Transferor hereby covenants that:
(a) Receivables to be Accounts or Payment Intangibles. The Transferor will take no action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the UCC as in effect in the Relevant UCC State), except in connection with the enforcement or collection of a Receivable. Except in such circumstances, the Transferor will take no action to cause any Receivable to be anything other than an “"account” " or a “"payment intangible” " (as defined in the UCC as in effect in the Relevant UCC State).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Master Trust)
Covenants of the Transferor. The Transferor hereby covenants that:
(a) Receivables to be Accounts or Payment IntangiblesRECEIVABLES TO BE ACCOUNTS OR GENERAL INTANGIBLES. The Transferor will take no action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the UCC as in effect in the Relevant UCC State), except in connection with the enforcement or collection of a Receivable. Except in such circumstances, the The Transferor will take no action to cause any Receivable to be anything other than an “"account” " or a “payment "general intangible” " (each as defined in the UCC as in effect in the Relevant UCC State).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Apparel Retailers Inc)
Covenants of the Transferor. The Transferor hereby covenants that:
: (a) Receivables to be Accounts Accounts, Chattel Paper or Payment General Intangibles. The Transferor will take no action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the UCC as in effect in the Relevant UCC State), except in connection with the enforcement or collection of a Receivable. Except in such circumstances, the Transferor will take no action to cause any Receivable to be anything other than an “"account” ," "chattel paper" or a “payment "general intangible” " (as defined in the UCC as in effect in the Relevant UCC State).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Receivables Inc)
Covenants of the Transferor. The Transferor hereby covenants that:
(a) Receivables to be Accounts Accounts, Chattel Paper or Payment General Intangibles. The Transferor will take no action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the UCC as in effect in the Relevant UCC State), except in connection with the enforcement or collection of a Receivable. Except in such circumstances, the Transferor will take no action to cause any Receivable to be anything other than an “"account” ," "chattel paper" or a “payment "general intangible” " (as defined in the UCC as in effect in the Relevant UCC State).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Companies Inc)
Covenants of the Transferor. The Transferor hereby covenants that:
(a) Receivables to be Accounts or Payment IntangiblesAccounts. The Transferor will take no action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the UCC as in effect in the Relevant UCC State), except in connection with the enforcement or collection of . Each Receivable shall be payable pursuant to a Receivablecontract which does not create a Lien on any goods purchased thereunder. Except in such circumstances, the The Transferor will take no action to cause any Receivable to be anything other than an “"account” " or a “payment "general intangible” " (as defined in the UCC as in effect in the Relevant UCC State).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Bank Corporate Card Master Trust)