Common use of Purchase and Sale of Receivables Clause in Contracts

Purchase and Sale of Receivables. On such date as is acceptable to NFRRC and NFC by which the conditions specified in Article IV have been satisfied (and in any event immediately prior to consummation of the transactions contemplated by the Further Transfer and Servicing Agreements, if any), NFC shall sell, transfer, assign and otherwise convey to NFRRC, without recourse, and NFRRC shall purchase, all right, title and interest of NFC in, to and under: (a) the Receivables listed on the Schedule of Receivables and all monies paid thereon (including Liquidation Proceeds) and due thereunder on and after the Cutoff Date; (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and, to the extent permitted by law, any accessions thereto which are financed by NFC; (c) the benefits of any lease assignments with respect to the Financed Vehicles; (d) any proceeds from any Insurance Policies with respect to the Receivables; (e) any proceeds from Dealer Liability with respect to the Receivables, proceeds from any NITC Purchase Obligations with respect to the Receivables (subject to the limitations set forth in Section 5.08) and proceeds from any Guaranties of Receivables; and (f) any proceeds of the property described in clauses (a), (b) and (c) above. The property described in clauses (a) through (f) is referred to herein collectively as the "Purchased Property."

Purchase and Sale of Receivables. On such date as is acceptable Subject to NFRRC and NFC by which the satisfaction of the conditions specified in Article IV have been satisfied (and in any event immediately prior to consummation of the transactions contemplated by the Further Transfer and Servicing Agreements, if any)IV, NFC shall agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse, pursuant to a written assignment substantially in the form of Exhibit A (an "Assignment"), and NFRRC shall purchaseagrees to purchase on the Closing Date and, up to the Available Purchase Amount, on any Subsequent Transfer Date (each, a "Purchase Date"), all right, title and interest of NFC in, to and under: (a) the Receivables listed Retail Notes, secured by one or more Financed Vehicles, that are identified in a schedule to the Assignment delivered to NFRRC on such Purchase Date (the Schedule of Receivables "Designated Receivables") and all monies paid thereon (including Liquidation Proceeds) and due thereunder on and after the applicable Cutoff Date; (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Designated Receivables and, to the extent permitted by law, any accessions thereto which are financed by NFC; (c) the benefits of any lease assignments with respect to the related Financed Vehicles; (d) any proceeds from any Insurance Policies with respect to the Designated Receivables; (e) any proceeds from Dealer Liability with respect to the Designated Receivables, proceeds from any NITC Purchase Obligations with respect to the Designated Receivables (subject to the limitations set forth in Section 5.085.08 hereof) and proceeds from any Guaranties of Designated Receivables; and (f) any proceeds of the property described in clauses (a), (b) and (c) above. The above (the property described in clauses (ab) through (f) is hereof are referred to herein collectively as the "Purchased PropertyRelated Security")."

Purchase and Sale of Receivables. On such date as is acceptable Subject to NFRRC and NFC by which the satisfaction of the conditions specified in Article IV have been satisfied (and in any event immediately prior to consummation of the transactions contemplated by the Further Transfer and Servicing Agreements, if any)IV, NFC shall agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse, pursuant to a written assignment substantially in the form of Exhibit A (the "PA Assignment"), and NFRRC shall purchaseagrees to purchase on the Closing Date, all right, title and interest of NFC in, to and under: (a) the Receivables listed Retail Notes, secured by one or more Financed Vehicles, that are identified in a schedule to the PA Assignment delivered to NFRRC on the Schedule of Receivables Closing Date (the "Designated Receivables") and all monies paid thereon (including Liquidation Proceeds) and due thereunder on and after the Cutoff Date; (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Designated Receivables and, to the extent permitted by law, any accessions thereto which are financed by NFC; (c) the benefits of any lease assignments with respect to the related Financed Vehicles; (d) any proceeds from any Insurance Policies with respect to the Designated Receivables; (e) any proceeds from Dealer Liability with respect to the Designated Receivables, proceeds from any NITC International Purchase Obligations with respect to the Designated Receivables (subject to the limitations set forth in Section 5.085.08 hereof) and proceeds from any Guaranties of Designated Receivables; and (f) any proceeds of the property described in clauses (a), (b) and (c) above. The above (the property described in clauses (ab) through (f) is hereof are referred to herein collectively as the "Purchased PropertyRelated Security")."

Purchase and Sale of Receivables. On such date as is acceptable Subject to NFRRC and NFC by which the satisfaction of the conditions specified in Article IV have been satisfied (and in any event immediately prior to consummation of the transactions contemplated by the Further Transfer and Servicing Agreements, if any)IV, NFC shall agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse, pursuant to a written assignment substantially in the form of Exhibit A (an "Assignment"), and NFRRC shall purchase, agrees to purchase on the Closing Date all right, title and interest of NFC in, to and under: (a) the Receivables listed Retail Notes, secured by one or more Financed Vehicles, that are identified in a schedule to the Assignment delivered to NFRRC on the Schedule of Receivables Closing Date (the "Receivables") and all monies Collections paid thereon (including Liquidation Proceeds) and due thereunder on and after the Cutoff Date; (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and, to the extent permitted by law, any accessions thereto which are financed by NFC; (c) the benefits of any lease assignments with respect to the related Financed Vehicles; (d) any proceeds from any Insurance Policies with respect to the Receivables; (e) any proceeds from Dealer Liability with respect to the Receivables, proceeds from any NITC Purchase Obligations with respect to the Receivables (subject to the limitations set forth in Section 5.085.8 hereof) and proceeds from any Guaranties of Receivables; and (f) any proceeds Proceeds of the property described in clauses (a), (b) and (c) above. The above (the property described in clauses (ab) through (f) is hereof are referred to herein collectively as the "Purchased PropertyRelated Security")."

Purchase and Sale of Receivables. On such date as is acceptable Subject to NFRRC and NFC by which the satisfaction of the conditions specified in Article IV have been satisfied (and in any event immediately prior to consummation of the transactions contemplated by the Further Transfer and Servicing Agreements, if any)IV, NFC shall agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse, pursuant to a written assignment substantially in the form of Exhibit A (an "Assignment"), and NFRRC shall purchase, agrees to purchase on the Closing Date all right, title and interest of NFC in, to and under: (a) the Receivables listed Retail Notes, secured by one or more Financed Vehicles, that are identified in a schedule to the Assignment delivered to NFRRC on the Schedule of Receivables Closing Date (the "Designated Receivables") and all monies paid thereon (including Liquidation Proceeds) and due thereunder on and after the Cutoff Date; (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Designated Receivables and, to the extent permitted by law, any accessions thereto which are financed by NFC; (c) the benefits of any lease assignments with respect to the related Financed Vehicles; (d) any proceeds from any Insurance Policies with respect to the Designated Receivables; (e) any proceeds from Dealer Liability with respect to the Designated Receivables, proceeds from any NITC Purchase Obligations with respect to the Designated Receivables (subject to the limitations set forth in Section 5.085.08 hereof) and proceeds from any Guaranties of Designated Receivables; and (f) any proceeds of the property described in clauses (a), (b) and (c) above. The above (the property described in clauses (ab) through (f) is hereof are referred to herein collectively as the "Purchased PropertyRelated Security")."