Obligation to Record and Report. To the fullest extent permitted by GAAP and by applicable law, record each purchase of Purchased Assets hereunder as a sale on its books and records, reflect each such purchase in its financial statements as a sale and recognize gain or loss, as the case may be, on each such purchase.
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Samples: Receivables Purchase Agreement (Central Freight Lines Inc/Tx), Receivables Purchase Agreement (Covenant Transport Inc)
Obligation to Record and Report. To the fullest extent permitted by GAAP and by applicable law, record each purchase of Purchased Assets hereunder Receivables as a sale on its books and records, reflect each such purchase Purchase in its financial statements as a sale and recognize gain or loss, as the case may be, on each such purchasePurchase.
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Obligation to Record and Report. To the fullest extent permitted by GAAP ------------------------------- and by applicable law, record each purchase of Purchased Assets hereunder as a sale on its books and records, reflect each such purchase in its financial statements as a sale and recognize gain or loss, as the case may be, on each such purchase.
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