Ownership of Receivables. The Seller owns and has good and marketable title to the Receivables included in the Receivables Pool and Related Security free and clear of any Adverse Claim.
Ownership of Receivables. The Seller has acquired, for fair consideration and reasonably equivalent value, all of the right, title and interest of the applicable Originator in each Pool Receivable, together with the Related Security. Each Pool Receivable, together with the Related Security, is owned by the Seller free and clear of any Adverse Claim.
Ownership of Receivables. Seller is the sole owner of the Receivables and none of the Receivables has been previously assigned or encumbered in any manner. Seller has full power and authority to sell each of the Receivables and has duly authorized their sale to AEG pursuant to this Agreement.
Ownership of Receivables. Such Borrower owns and has good and marketable title to the Receivables transferred to such Borrower pursuant to the applicable Sale Agreement and included in the Receivables Pool and Related Security free and clear of any Adverse Claim other than Permitted Adverse Claims.
Ownership of Receivables. The Seller owns and has good and marketable title to the Pool Receivables that are Eligible Receivables and Related Security free and clear of any Adverse Claim (other than Permitted Liens arising after the date such Pool Receivables became Pool Receivables and any Adverse Claims that constitute Ineligible Amounts).
Ownership of Receivables. Before the consummation of the sales contemplated by this Agreement, the Seller owns the Pool Receivables and Related Security free and clear of any Adverse Claim.
Ownership of Receivables. (A) Subject to paragraph (B) below, upon completion of the sale and purchase of the Receivables under the Receivables Sale Agreement, the Borrower will be the sole beneficial owner of the Portfolio Receivables other than the Scottish Receivables, with good, valid and marketable title thereto and will be beneficiary under a Scottish Declaration of Trust in relation to the Scottish Receivables.
(B) At all times prior to a Perfection Event and subsequent transfer of legal title to the Receivables to the Borrower or its nominee in accordance with Clause 22.34 (Perfection of legal title), the Transferor is the sole legal owner of the Portfolio Receivables, with good, valid and marketable title thereto subject, in the case of the Scottish Receivables, to the interest of the Borrower as beneficiary under the Scottish Declaration of Trust relating thereto.
Ownership of Receivables. (a) Upon the acceptance by Funding of the capital contribution from MCC as set forth in Section 2.01, the ownership of each Initial Receivable and the contents of the related Receivable Files shall be vested in Funding. Upon the delivery of the purchase price set forth in Section 2.02, the ownership of the related Subsequent Receivables and the contents of the related Receivable Files shall be vested in Funding. Notwithstanding the foregoing, the assignment, transfer and conveyance set forth in Section 2.01 or Section 2.02 shall not constitute and is not intended to result in the creation, or an assumption by Funding of any obligation of MCC or any other Person in connection with the Receivables or any Contract or under any agreement or instrument relating thereto, including any obligation to any Obligors or any Affiliate of or other Person to whom MCC may delegate servicing duties or to insurers.
(b) It is the express intent of MCC and Funding that the conveyance of the Receivables by MCC to Funding pursuant to this Agreement be construed as a sale or contribution of the Receivables and the Related Property by MCC to Funding. However, in the event that, notwithstanding the intent of the parties, the Receivables and Related Property are held to continue to be property of MCC, then (i) this Agreement also shall be deemed to be and hereby is a security agreement within the meaning of the UCC, and (ii) the conveyance by MCC provided for in the Agreement shall be deemed to be and hereby is a grant by MCC to Funding of a security interest in and to all of MCC's right, title and interest in, to and under all accounts, contract rights, general intangibles, chattel paper, instruments, documents, money, deposit accounts, certificates of deposit, goods, letters of credit, advices of credit, certificated securities and uncertificated securities consisting of, arising from, or relating to the Receivables and the Related Property, to secure the rights of Funding under this Agreement and the obligations of MCC hereunder. MCC and Funding shall, to the extent consistent with this Agreement, take such actions (other than delivering the original contract) as may be necessary to ensure that, if the conveyance of the Receivables and the Related Property by MCC to Funding pursuant to this Agreement is not deemed to be a sale or a contribution of capital, the security interest in the Receivables and the Related Property created hereunder will be a perfected security interest of...
Ownership of Receivables.
(a) it owns and has at all times owned the entire interest in such KSA Receivable and the KSA Agreement under which it arises;
(b) it has never permitted any encumbrance to be created over or to subsist in relation to such KSA Receivable and such KSA Agreement; and
(c) it is entitled to sell and assign and it is selling and assigning the KSA Receivable to PIC free from any encumbrance;
Ownership of Receivables. Premium hereby warrants that it has full right and title to the Receivables. Under the terms of this agreement, Premium agrees to transfer full right and title, including the full principal balance of each account and any accrued interest owed by the debtor on each account, to the Buyer.
