Common use of Possession of Receivables Clause in Contracts

Possession of Receivables. For Receivables that are “tangible chattel paper,” the Issuer has in its possession, directly or through its agents, all original copies of the Receivables that constitute or evidence part of the Collateral, and these Receivables do not have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Indenture Trustee. For Receivables that are “electronic chattel paper,” the Issuer has not communicated an authoritative copy of any Receivable that constitutes or evidences part of the Collateral to any Person other than the Indenture.