Common use of Pledge to a Federal Reserve Bank Clause in Contracts

Pledge to a Federal Reserve Bank. Notwithstanding anything to the contrary set forth herein (including in Section 13.3), (i) each Purchaser that constitutes a banking institution or any assignee or participant thereof other than a Conduit Purchaser, or (ii) in the event that any Conduit Purchaser assigns any of its interest in, to and under the Pool Receivables or Related Assets to any Liquidity Provider or Enhancement Provider, any such Person, may at any time pledge, grant a security interest in or otherwise transfer all or any portion of its interest in the Pool Receivables or Related Assets or under this Agreement to secure the obligations of such Person to a Federal Reserve Bank or otherwise to any other federal Governmental Authority or special purpose entity formed or sponsored by any such federal Governmental Authority or any central bank having jurisdiction over such Person, in each case without notice to or the consent of the Seller, ADT or the Servicer, but such pledge, grant, or transfer shall not relieve any Person from its obligations hereunder, and each of the other parties hereto shall be entitled to treat such Purchaser’s Investment and its interest in the Pool Receivables or Related Assets or under this Agreement as not having been assigned, pledged or otherwise transferred for all purposes under this Agreement.

Appears in 4 contracts

Samples: Receivables Purchase Agreement (ADT Inc.), Receivables Purchase Agreement (ADT Inc.), Receivables Purchase Agreement (ADT Inc.)

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Pledge to a Federal Reserve Bank. Notwithstanding anything to the contrary set forth herein (including in Section 13.312.03), (i) each Purchaser Lender that constitutes a banking institution or any assignee or participant thereof other than a Conduit PurchaserLender, or (ii) in the event that any Conduit Purchaser Lender assigns any of its interest in, to and under the Pool Receivables or Related Assets to any Liquidity Provider or Enhancement Program Support Provider, any such Person, may at any time pledge, grant a security interest in or otherwise transfer all or any portion of its interest in the Loans and the security interest in the Pool Receivables or Related Assets or under this Agreement to secure the obligations of such Person to a Federal Reserve Bank or otherwise to any other federal Governmental Authority or special purpose entity formed or sponsored by any such federal Governmental Authority or any central bank having jurisdiction over such Person, in each case without notice to or the consent of the SellerBorrower, ADT or the Servicer, but such pledge, grant, or transfer shall not relieve any Person from its obligations hereunder, and each of the other parties hereto shall be entitled to treat such PurchaserLender’s Investment Principal and its interest in the Pool Receivables or Related Assets or under this Agreement as not having been assigned, pledged or otherwise transferred for all purposes under this Agreement.

Appears in 3 contracts

Samples: Receivables Financing Agreement (ADT Inc.), Receivables Financing Agreement (ADT Inc.), Receivables Financing Agreement (ADT Inc.)

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Pledge to a Federal Reserve Bank. Notwithstanding anything to the contrary set forth herein (including in Section 13.312.03), (i) each Purchaser Lender that constitutes a banking institution or any assignee or participant thereof other than a Conduit PurchaserLender, or (ii) in the event that any Conduit Purchaser Lender assigns any of its interest in, to and under the Pool Receivables or Related Assets to any Liquidity Provider or Enhancement Program Support Provider, any such Person, may at any time pledge, grant a security interest in or otherwise transfer all or any portion of its interest in the Loans and the security interest in the Pool Receivables or Related Assets or under this Agreement to secure the obligations of such Person to a Federal Reserve Bank or otherwise to any other federal Governmental Authority or special purpose entity formed or sponsored by any such federal Governmental Authority or any central bank having jurisdiction over such Person, in each case without notice to or the consent of the SellerBorrower, ADT Compass or the Servicer, but such pledge, grant, or transfer shall not relieve any Person from its obligations hereunder, and each of the other parties hereto shall be entitled to treat such PurchaserLender’s Investment Principal and its interest in the Pool Receivables or Related Assets or under this Agreement as not having been assigned, pledged or otherwise transferred for all purposes under this Agreement.

Appears in 1 contract

Samples: Receivables Financing Agreement (ADT Inc.)

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