Common use of Preference; Voidability Clause in Contracts

Preference; Voidability. The transfer of the Loans, Collections, Related Security and other Contributed Property by the Servicer to Funding, has not been made for or on account of an antecedent debt owed by Funding to CAC, or by CAC to Funding, and neither of such transfers is or may be voidable under any Section of the Bankruptcy Reform Act of 1978 (11 U.S.C. Section Section 101 et seq.), as amended.

Appears in 2 contracts

Samples: Contribution Agreement (Credit Acceptance Corporation), Contribution Agreement (Credit Acceptance Corporation)

AutoNDA by SimpleDocs

Preference; Voidability. The transfer of the Loans, Collections, Related Security and other Contributed Conveyed Property by the Servicer CAC to Funding, has not been made for or on account of an antecedent debt owed by Funding to CAC, or by CAC to Funding, and neither of such transfers transfer is or may be not voidable under any Section of the Bankruptcy Reform Act of 1978 (11 U.S.C. Section Section § § 101 et seq.), as amended.

Appears in 1 contract

Samples: Contribution Agreement (Credit Acceptance Corp)

AutoNDA by SimpleDocs

Preference; Voidability. The transfer of the Loans, Collections, Related Security and other Contributed Property by the Servicer CAC to Funding, has not been made for or on account of an antecedent debt owed by Funding to CAC, or by CAC to Funding, and neither of such transfers transfer is or may be not voidable under any Section of the Bankruptcy Reform Act of 1978 (11 U.S.C. Section Section 101 et seq.), as amended.

Appears in 1 contract

Samples: Contribution Agreement (Credit Acceptance Corporation)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!