Lease Agreement Effective. With respect to Lease Receivables sold or contributed hereunder, as of the date of such sale or contribution, each related lease agreement which gives rise to a Lease Receivable is or becomes effective and binding upon and enforceable against the related Obligor upon the payment by such Obligor of the first installment of the rentals under such lease agreement.
Appears in 5 contracts
Samples: Sale Agreement (Commercial Credit, Inc.), Sale Agreement (Commercial Credit, Inc.), Canadian Sale Agreement (Commercial Credit, Inc.)
