Common use of Demand Note Clause in Contracts

Demand Note. If the Depositor is capitalized, in whole or in part by the delivery of a demand note (a "Demand Note") from CPS, the proceeds of such Demand Note will not be used to pay (i) any of the expenses of the Depositor in connection with the transactions contemplated by the Basic Documents or (ii) the purchase price for the Certificates purchased pursuant to Section 3.9. Such Demand Note shall be enforceable against CPS, subject to its terms, and subject to applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and similar laws now or hereafter in effect relating to creditors' rights generally or the rights of creditors of banks the deposit accounts of which are insured by the Federal Deposit Insurance Corporation and subject to general principles of equity (whether applied in a proceeding at law or in equity).

Demand Note. If the Depositor is capitalized, in whole or in part by the delivery of a demand note (a "Demand Note") from CPSAmeriCredit, the proceeds of such Demand Note will not be used to pay (i) any of the expenses of the Depositor in connection with the transactions contemplated by the Basic Documents or (ii) the purchase price for the Certificates purchased pursuant to Section 3.9. Such Demand Note shall be enforceable against CPSAmeriCredit, subject to its terms, and subject to applicable bankruptcy, insolvency, moratorium, fraudulent conveyance, reorganization and similar laws now or hereafter in effect relating to creditors' rights generally or the rights of creditors of banks the deposit accounts of which are insured by the Federal Deposit Insurance Corporation and subject to general principles of equity (whether applied in a proceeding at law or in equity).