Common use of Identification of Substitute Receivables Clause in Contracts

Identification of Substitute Receivables. The Seller shall select the Substitute Receivable within the portfolio of receivables owned by the Seller by identifying all of the receivables that meet the criteria set forth in each of the following criteria and then removing receivables that do not satisfy the criteria specified in each successive clause in the order of priority set forth below until only one receivable is available:

Appears in 34 contracts

Samples: Pooling Agreement (Ally Auto Assets LLC), Pooling Agreement (Ally Auto Receivables Trust 2019-4), Pooling Agreement (Ally Auto Receivables Trust 2019-4)

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