Common use of No Actions, Suits Clause in Contracts

No Actions, Suits. There are no actions, suits or other proceedings (including matters relating to environmental liability) pending or threatened against or affecting the Initial Collection Agent, or any of its properties, that (i) if adversely determined (individually or in the aggregate), is likely to have a material adverse effect on the financial condition of the Initial Collection Agent and its Subsidiaries, taken as whole, or on the collectibility of the Receivables or (ii) involve any Transaction Document or any transaction contemplated thereby. The Initial Collection Agent is not in default of any contractual obligation or in violation of any order, rule or regulation of any Governmental Authority, which default or violation is likely to have a material adverse effect upon (i) the financial condition of the Initial Collection Agent and its Subsidiaries, taken as whole, or (ii) the collectibility of the Receivables.

No Actions, Suits. There are no actions, suits or other proceedings (including matters relating to environmental liability) pending or threatened against or affecting the Initial Collection AgentSeller or the Originator, or any of its their respective properties, that (i) if adversely determined (individually or in the aggregate), is are reasonably likely to have a material adverse effect on the financial condition of the Initial Collection Agent and its Subsidiaries, taken as whole, Seller or the Originator or any Subsidiary or on the collectibility of the Receivables any Eligible Receivable or (ii) involve any Transaction Document or any transaction contemplated thereby. The Initial Collection Agent None of the Seller or the Originator is not in default of any contractual obligation or in violation of any order, rule or regulation of any Governmental Authority, which default or violation is reasonably likely to have a material adverse effect upon (i) the financial condition of the Initial Collection Agent Seller or the Originator and its Subsidiaries, Subsidiaries taken as whole, a whole or (ii) the collectibility of the Receivablesany Eligible Receivable.