Common use of Facility Eligible Receivables Clause in Contracts

Facility Eligible Receivables. Each Receivable is payable in United States dollars, is a Facility Eligible Receivable and is transferred pursuant to a Designated Servicing Agreement that is a Facility Eligible Servicing Agreement (except those transferred pursuant to any Ineligible Designated Servicing Agreement); provided that notwithstanding the foregoing, Advance Purchaser makes no representation or warranty with respect to Receivables arising under any Ineligible Designated Servicing Agreement. Each Receivable arises from an Advance or Deferred Servicing Fee for which Advance Purchaser is entitled to reimbursement or payment, as applicable, pursuant to a Designated Servicing Agreement.

Facility Eligible Receivables. Each Receivable is payable in United States dollars, is a Facility Eligible Receivable and is transferred pursuant to a Designated Servicing Agreement that is a Facility Eligible Servicing Agreement (except those transferred pursuant to any Ineligible Designated Servicing Agreement); provided that notwithstanding the foregoing, Advance Purchaser HLSS makes no representation or warranty with respect to Receivables arising under any Ineligible Designated Servicing Agreement. Each Receivable arises from an Advance or Deferred Servicing Fee for which Advance Purchaser HLSS is entitled to reimbursement or payment, as applicable, pursuant to a Designated Servicing Agreement.