Lease Agreement Effective. In the case of the SPV, each 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 3 contracts
Samples: Loan and Administration Agreement (Commercial Credit, Inc.), Loan and Administration Agreement (Commercial Credit, Inc.), Loan and Administration Agreement (Commercial Credit, Inc.)
Lease Agreement Effective. In the case of the each SPV, with respect to its Lease Receivables each 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 1 contract
Samples: Loan and Administration Agreement (Commercial Credit, Inc.)
