No Rescission or Cancellation. The Servicer shall not permit any rescission or cancellation of any Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, except as ordered by a court of competent jurisdiction or other Governmental Authority.
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (Wholesale Auto Receivables Corp), Pooling and Servicing Agreement (Ally Wholesale Enterprises LLC), Pooling and Servicing Agreement (Wholesale Auto Receivables Corp)
No Rescission or Cancellation. The Except pursuant to the Floor Plan Financing Guidelines, the Servicer shall not permit any rescission or cancellation of any Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, except as ordered by a court of competent jurisdiction or other Governmental Authority.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Wholesale Auto Receivables Corp), Pooling and Servicing Agreement (Wholesale Auto Receivables Corp), Pooling and Servicing Agreement (Wholesale Auto Receivables Corp)
No Rescission or Cancellation. The Servicer shall not permit any rescission or cancellation of any Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, Receivables except as ordered by a court of competent jurisdiction or other Governmental Authoritygovernmental authority; provided, however, that the writing down of the Receivables balance in accordance with Customary Procedures shall not be deemed a rescission or cancellation of such Receivables.
Appears in 6 contracts
Samples: Indenture and Servicing Agreement (MCM Capital Group Inc), Indenture and Servicing Agreement (MCM Capital Group Inc), Indenture and Servicing Agreement (Creditrust Corp)
No Rescission or Cancellation. The Servicer shall will not permit any rescission or cancellation of any a Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, except as ordered by a court of competent jurisdiction or other Governmental Authority.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (Ford Credit Floorplan LLC), Sale and Servicing Agreement (Ford Credit Floorplan LLC), Sale and Servicing Agreement (Ford Credit Floorplan Corp)
No Rescission or Cancellation. The Servicer shall not permit any ----------------------------- rescission or cancellation of any a Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, or a Contract except (i) as ordered by a court of competent jurisdiction or other Governmental AuthorityAuthority or otherwise required by a Requirement of Law or (ii) in the ordinary course of its business in accordance with the Credit and Collection Policy.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Safeguard Scientifics Inc Et Al), Pooling and Servicing Agreement (Compucom Systems Inc)
No Rescission or Cancellation. The Servicer shall not permit ----------------------------- any rescission or cancellation of any a Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, or a Contract except (i) as ordered by a court of competent jurisdiction or other Governmental AuthorityAuthority or otherwise required by a Requirement of Law or (ii) in the ordinary course of its business in accordance with the Credit and Collection Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Compucom Systems Inc)
No Rescission or Cancellation. The Servicer shall not permit any rescission or cancellation of any Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, Receivables except as ordered by a court of competent jurisdiction or other Governmental Authoritygovernmental authority; PROVIDED, HOWEVER, that the writing down of a Receivables balance in accordance with Customary Procedures shall not be deemed a rescission or cancellation of such Receivables.
Appears in 1 contract
Samples: Indenture and Servicing Agreement (Creditrust Corp)
No Rescission or Cancellation. The Servicer shall not permit any rescission rescission, modification, amendment or cancellation of any a Serviced Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, except as ordered by a court of competent jurisdiction or other Governmental AuthorityAuthority or in accordance with the Credit and Collection Policies. Servicer shall reflect any such rescission, modification, amendment or cancellation in its computer files.
Appears in 1 contract
No Rescission or Cancellation. The Servicer shall not permit any rescission or cancellation of any Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, except as ordered by a court of competent jurisdiction or other Governmental AuthorityAuthority or in accordance with the normal operating procedures of the Servicer.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Wachovia Card Receivables LLC)
No Rescission or Cancellation. The Servicer shall not permit any rescission or cancellation of any a Transferred Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreementor a related Contract, except as ordered by a court of competent jurisdiction or other Governmental Authoritygovernmental authority and except in the ordinary course of business and in accordance with the Credit and Collection Policies of Servicer.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Smurfit-Stone Container Enterprises Inc)
No Rescission or Cancellation. The Servicer shall not permit any rescission or cancellation of any Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, Receivables except as ordered by a court of competent jurisdiction or other Governmental Authoritygovernmental authority; provided, however, that the writing down of any Receivable balance in accordance with customary servicing procedures shall not be deemed a rescission or cancellation of such Receivable.
Appears in 1 contract
No Rescission or Cancellation. The Servicer shall not permit any rescission or cancellation of any Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, Receivables except as ordered by a court of competent jurisdiction or other Governmental Authoritygovernmental authority; provided, however, that the writing down of the Receivables balance in accordance with Customary Servicing Procedures shall not be deemed a rescission or cancellation of such Receivables.
Appears in 1 contract
Samples: Indenture and Servicing Agreement (Creditrust Corp)
No Rescission or Cancellation. The Servicer shall not permit any rescission or cancellation of any a Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreementor a related Contract, except as ordered by a court of competent jurisdiction or other Governmental Authoritygovernmental authority and except in the ordinary course of business and in accordance with the Credit and Collection Policies of the Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Stone Container Corp)
No Rescission or Cancellation. The Servicer shall not permit any rescission or cancellation of any a Receivable sold and assigned to the Purchaser hereunder that the Servicer services under this Agreement and the Trust Sale and Servicing Agreement, or a Contract except (i) as ordered by a court of competent jurisdiction or other Governmental AuthorityAuthority or (ii) in the ordinary course of its business and in accordance with the Credit and Collection Policy.
Appears in 1 contract
