Initial Receivables. In consideration of the Issuing Entity’s delivery of the Notes and the Certificates to, or upon the order of, the Depositor, the Depositor does hereby enter into this Agreement and the related Second Step Initial Receivables Assignment in the form attached as Exhibit B to this Agreement (the “Second Step Initial Receivables Assignment”) and agrees to fulfill all of its obligations hereunder and thereunder and to sell, transfer, assign and otherwise convey to the Issuing Entity, without recourse:
(i) all right, title and interest of the Depositor in, to and under the Initial Receivables listed on the Schedule of Initial Receivables and all monies received thereon on and after the Initial Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by the Servicer or the Seller covering any related Financed Vehicle;
(ii) the interest of the Depositor in the security interests in the Financed Vehicles granted by Obligors pursuant to the Initial Receivables and, to the extent permitted by law, any accessions thereto;
(iii) the interest of the Depositor in any proceeds from claims on any physical damage, credit life, credit disability or other insurance policies covering the related Financed Vehicles or Obligors;
(iv) the interest of the Depositor in any proceeds from recourse against Dealers on the Initial Receivables;
(v) all right, title and interest of the Depositor in, to and under the Pooling and Servicing Agreement, the First Step Receivables Assignments and the Custodian Agreement, including the right of the Depositor to cause the Seller or the Servicer to repurchase Receivables under certain circumstances;
(vi) the right to purchase Additional Receivables during the Revolving Period at a price equal to the Aggregate Additional Receivables Principal Balance of such Additional Receivables as of each Distribution Date; and
(vii) all present and future claims, demands, causes and choses in action in respect of any or all of the foregoing described in clauses (i) through (vi) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all of the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, p...
Initial Receivables. In addition to the characteristics set forth in Section 4.01(a)(i) above, each Initial Receivable (1) has a first scheduled payment due date on or after August 23, 2008, (2) was originated on or after July 28, 2008, (3) as of the Initial Cutoff Date, was not considered past due (that is, no payments due on that Initial Receivable in excess of $25 were more than thirty (30) days delinquent), and was not a Liquidating Receivable, and (4) has an Annual Percentage Rate not greater than 26.00%.
Initial Receivables. The obligation of the Purchaser to purchase the Initial Receivables is subject to the satisfaction of the following conditions:
Initial Receivables. The obligation of the Purchaser to purchase the Purchased Contracts is subject to the satisfaction of the following conditions:
Initial Receivables. The Initial Purchase Price is payable as follows: (i) $139,675,667.13 in cash on the Closing Date and (ii) $1,228,479.85 in cash, as provided in the subordinated note dated February 23, 1998, payable by the Purchaser to the Originator.
Initial Receivables. Promptly following the execution of this Agreement, Buyer and Seller shall jointly prepare an itemized list and aging of all accounts receivable of the Seller as of May 27, 2000, excluding accounts receivable (i) outstanding more than 90 days as of May 27, 2000, (ii) not incurred in the ordinary course of business or (iii) uncollectible due to, inter alia, known returns, offsets, disputes with or business failure by the account debtor (the aggregate amount of such accounts receivable set forth on the Initial Receivables Statement being the "Initial Receivables Amount").
Initial Receivables. The Receivables sold and/or contributed by Nationstar, as Receivables Seller, to the Depositor on the Closing Date pursuant to the Receivables Sale Agreement, and further sold and/or contributed by the Depositor to the Issuer on the Closing Date pursuant to the Receivables Pooling Agreement, and Granted by the Issuer to the Indenture Trustee for inclusion in the Trust Estate, and which consist of Receivables arising from (i) the making by the Receivables Seller of Advances with respect to the Designated Servicing Agreements listed on the Designated Servicing Agreement Schedule or (ii) accrued Deferred Servicing Fees with respect to the Designated Servicing Agreements listed on the Designated Servicing Agreement Schedule as of the Closing Date.
Initial Receivables. The Initial Purchase Price is payable as follows: (i) $_____________ in cash on the Closing Date and (ii) $_________________ in cash, as provided in the subordinated note dated __________ __, 199_, payable by the Purchaser to the Originator.
Initial Receivables. In addition to the characteristics set forth in Section 4.01(a)(i) above, each Initial Receivable (1) has a first scheduled payment due date on or after November 1, 1998, (2) has a final scheduled payment that is due no later than January 31, 2010, (3) was originated on or after October 1, 1998, (4) as of the Initial Cutoff Date, was not considered past due, that is, the payments due on that Initial Receivable in excess of $25 have been received within thirty (30) days of the payment date, and was not a Liquidating Receivable. In addition, with respect to the Initial Receivables, Scheduled Interest Receivables represent (based on Principal Balances) 27.46% of the Aggregate Amount Financed, with the balance of the Initial Receivables being Simple Interest Receivables.
Initial Receivables. The term “Initial Receivables” shall mean the Receivables conveyed to the Borrower by the Seller pursuant to a Transfer Instrument on the date of the first advance made by Lender hereunder.
