Common use of Payment to Originator Clause in Contracts

Payment to Originator. The Seller has given reasonably equivalent value and fair consideration for the Conveyed Property conveyed to the Seller under the Sale and Contribution Agreement and such conveyance was not made for or on account of an antecedent debt. No conveyance by the Originator of any originator property under the Sale and Contribution Agreement is or may be voidable under any section of the Bankruptcy Code.

Appears in 27 contracts

Samples: Sale and Servicing Agreement (Credit Acceptance Corp), Sale and Servicing Agreement (Credit Acceptance Corp), Sale and Servicing Agreement (Credit Acceptance Corp)

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Payment to Originator. The Seller has given reasonably equivalent value and fair consideration for the Conveyed Contributed Property conveyed to the Seller under the Sale and Contribution Agreement and such conveyance transfer was not made for or on account of an antecedent debt. No conveyance transfer by the Originator of any originator property under the Sale and Contribution Agreement is or may be voidable under any section of the Bankruptcy Code.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (Credit Acceptance Corporation), Sale and Servicing Agreement (Credit Acceptance Corporation), Sale and Servicing Agreement (Credit Acceptance Corporation)

Payment to Originator. The Seller has given reasonably equivalent value and fair consideration for the Conveyed Property conveyed to the Seller under the Sale and Contribution Agreement and such conveyance transfer was not made for or on account of an antecedent debt. No conveyance transfer by the Originator of any originator property under the Sale and Contribution Agreement is or may be voidable under any section of the Bankruptcy Code.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Credit Acceptance Corp), Sale and Servicing Agreement (Credit Acceptance Corp)

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Payment to Originator. The Seller has given reasonably equivalent value and fair consideration for the Conveyed Contributed Property conveyed to the Seller under the Sale and Contribution Agreement and such conveyance transfer was not made for or on account of an antecedent debt. No conveyance transfer by the Originator of any originator property under the Sale and Contribution Agreement is or may be voidable under any section of the Bankruptcy Code.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Credit Acceptance Corp)

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