Common use of Purchase and Sale of Receivables Clause in Contracts

Purchase and Sale of Receivables. Subject to the satisfaction of the conditions specified in Article IV, NFC agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse (except as provided in Section 5.04), and NFRRC agrees to purchase (i) on the Closing Date pursuant to a written assignment substantially in the form of Exhibit A (the "Initial PA Assignment"), and (ii) on each Subsequent Transfer Date (each, together with the Closing Date, a "Purchase Date"), pursuant to an assignment substantially in the form of Exhibit B (each, a "Subsequent Transfer PA Assignment" and, together with the Initial PA Assignment, each a "PA Assignment") up to the Available Purchase Amount, all right, title and interest of NFC in, to and under: (a) the Retail Notes identified on the Schedule of Retail Notes to the PA Assignment delivered to NFRRC on such Purchase Date (the "Designated Retail Notes") and the Related Retail Note Assets associated with the Designated Retail Notes; (b) the Series 2003-A Portfolio Interest and the beneficial interest in the Series 2003-A Portfolio Assets, including the Retail Leases identified on the Schedule of Retail Leases to the Initial PA Assignment delivered to NFRRC on the Closing Date and the Retail Leases identified on the Schedule of Retail Leases to the PA Assignment delivered to NFRRC on any subsequent Purchase Date (the "Designated Retail Leases" and together with the Designated Retail Notes, the "Designated Receivables") and the Related Titling Trust Assets associated with the Designated Retail Leases and, with respect to the sale on the Closing Date, the Series 2003-A Portfolio Certificate; and (c) the rights, but not the obligations, of NFC under the Lease Purchase Agreement, the Initial LPA Assignment and any Subsequent Transfer LPA Assignment with respect to the Designated Retail Leases.

Purchase and Sale of Receivables. Subject to the satisfaction of the conditions specified in Article IV, NFC agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse (except as provided in Section 5.04), and NFRRC agrees to purchase (i) on the Closing Date (the “Purchase Date”) pursuant to a written assignment substantially in the form of Exhibit A (the "Initial “PA Assignment"”), and (ii) on each Subsequent Transfer Date (each, together with the Closing Date, a "Purchase Date"), pursuant to an assignment substantially in the form of Exhibit B (each, a "Subsequent Transfer PA Assignment" and, together with the Initial PA Assignment, each a "PA Assignment") up to the Available Purchase Amount, all right, title and interest of NFC in, to and under: (a) the Retail Notes identified on the Schedule of Retail Notes to the PA Assignment delivered to NFRRC on such the Purchase Date (the "“Designated Retail Notes"”) and the Related Retail Note Assets associated with the Designated Retail Notes; (b) the Series 20032006-A ARC Portfolio Interest and the beneficial interest in the Series 20032006-A ARC Portfolio Assets, including the Retail Leases identified on the Schedule of Retail Leases to the Initial PA Assignment delivered to NFRRC on the Closing Date and the Retail Leases identified on the Schedule of Retail Leases to the PA Assignment delivered to NFRRC on any subsequent Purchase the Closing Date (the "“Designated Retail Leases" ” and together with the Designated Retail Notes, the "“Designated Receivables"”) and the Related Titling Trust Assets associated with the Designated Retail Leases and, with respect to the sale on the Closing Date, and the Series 20032006-A ARC Portfolio Certificate; and (c) the rights, but not the obligations, of NFC under the Lease Purchase Agreement, Agreement and the Initial LPA Assignment and any Subsequent Transfer LPA Assignment with respect to the Designated Retail Leases.

Purchase and Sale of Receivables. Subject to the satisfaction of the conditions specified in Article IV, NFC agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse (except as provided in Section 5.04), and NFRRC agrees to purchase (i) on the Closing Date pursuant to a written assignment substantially in the form of Exhibit A (the "“Initial PA Assignment"”), and (ii) on each Subsequent Transfer Date (each, together with the Closing Date, a "“Purchase Date"”), pursuant to an assignment substantially in the form of Exhibit B (each, a "“Subsequent Transfer PA Assignment" ” and, together with the Initial PA Assignment, each a "“PA Assignment"”) up to the Available Purchase Amount, all right, title and interest of NFC in, to and under: (a) the Retail Notes identified on the Schedule of Retail Notes to the PA Assignment delivered to NFRRC on such Purchase Date (the "“Designated Retail Notes"”) and the Related Retail Note Assets associated with the Designated Retail Notes; (b) the Series 20032004-A Portfolio Interest and the beneficial interest in the Series 20032004-A Portfolio Assets, including the Retail Leases identified on the Schedule of Retail Leases to the Initial PA Assignment delivered to NFRRC on the Closing Date and the Retail Leases identified on the Schedule of Retail Leases to the PA Assignment delivered to NFRRC on any subsequent Purchase Date (the "“Designated Retail Leases" ” and together with the Designated Retail Notes, the "“Designated Receivables"”) and the Related Titling Trust Assets associated with the Designated Retail Leases and, with respect to the sale on the Closing Date, the Series 20032004-A Portfolio Certificate; and (c) the rights, but not the obligations, of NFC under the Lease Purchase Agreement, the Initial LPA Assignment and any Subsequent Transfer LPA Assignment with respect to the Designated Retail Leases.

Purchase and Sale of Receivables. Subject to the satisfaction of the conditions specified in Article IV, NFC agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse (except as provided in Section 5.04), and NFRRC agrees to purchase (i) on the Closing Date pursuant to a written assignment substantially in the form of Exhibit A (the "“Initial PA Assignment"”), and (ii) on each Subsequent Transfer Date (each, together with the Closing Date, a "“Purchase Date"”), pursuant to an assignment substantially in the form of Exhibit B (each, a "“Subsequent Transfer PA Assignment" ” and, together with the Initial PA Assignment, each a "“PA Assignment"”) up to the Available Purchase Amount, all right, title and interest of NFC in, to and under: (a) the Retail Notes identified on the Schedule of Retail Notes to the PA Assignment delivered to NFRRC on such Purchase Date (the "“Designated Retail Notes"”) and the Related Retail Note Assets associated with the Designated Retail Notes; (b) the Series 20032005-A Portfolio Interest and the beneficial interest in the Series 20032005-A Portfolio Assets, including the Retail Leases identified on the Schedule of Retail Leases to the Initial PA Assignment delivered to NFRRC on the Closing Date and the Retail Leases identified on the Schedule of Retail Leases to the PA Assignment delivered to NFRRC on any subsequent Purchase Date (the "“Designated Retail Leases" ” and together with the Designated Retail Notes, the "“Designated Receivables"”) and the Related Titling Trust Assets associated with the Designated Retail Leases and, with respect to the sale on the Closing Date, the Series 20032005-A Portfolio Certificate; and (c) the rights, but not the obligations, of NFC under the Lease Purchase Agreement, the Initial LPA Assignment and any Subsequent Transfer LPA Assignment with respect to the Designated Retail Leases.

Purchase and Sale of Receivables. Subject to the satisfaction of the conditions specified in Article IV, NFC agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse (except as provided in Section 5.04), and NFRRC agrees to purchase (i) on the Closing Date pursuant to a written assignment substantially in the form of Exhibit A (the "“Initial PA Assignment"”), and (ii) on each Subsequent Transfer Date (each, together with the Closing Date, a "“Purchase Date"”), pursuant to an assignment substantially in the form of Exhibit B (each, a "“Subsequent Transfer PA Assignment" ” and, together with the Initial PA Assignment, each a "“PA Assignment"”) up to the Available Purchase Amount, all right, title and interest of NFC in, to and under: (a) the Retail Notes identified on the Schedule of Retail Notes to the PA Assignment delivered to NFRRC on such Purchase Date (the "“Designated Retail Notes"”) and the Related Retail Note Assets associated with the Designated Retail Notes; (b) the Series 20032004-A B Portfolio Interest and the beneficial interest in the Series 20032004-A B Portfolio Assets, including the Retail Leases identified on the Schedule of Retail Leases to the Initial PA Assignment delivered to NFRRC on the Closing Date and the Retail Leases identified on the Schedule of Retail Leases to the PA Assignment delivered to NFRRC on any subsequent Purchase Date (the "“Designated Retail Leases" ” and together with the Designated Retail Notes, the "“Designated Receivables"”) and the Related Titling Trust Assets associated with the Designated Retail Leases and, with respect to the sale on the Closing Date, the Series 20032004-A B Portfolio Certificate; and (c) the rights, but not the obligations, of NFC under the Lease Purchase Agreement, the Initial LPA Assignment and any Subsequent Transfer LPA Assignment with respect to the Designated Retail Leases.

Purchase and Sale of Receivables. Subject to the satisfaction of the conditions specified in Article IV, NFC agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse (except as provided in Section 5.04), and NFRRC agrees to purchase (i) on the Closing Date pursuant to a written assignment substantially in the form of Exhibit A (the "Initial PA Assignment"), and (ii) on each Subsequent Transfer Date (each, together with the Closing Date, a "Purchase Date"), pursuant to an assignment substantially in the form of Exhibit B (each, a "Subsequent Transfer PA Assignment" and, together with the Initial PA Assignment, each a "PA Assignment") up to the Available Purchase Amount, all right, title and interest of NFC in, to and under: (a) the Retail Notes identified on the Schedule of Retail Notes to the PA Assignment delivered to NFRRC on such Purchase Date (the "Designated Retail Notes") and the Related Retail Note Assets associated with the Designated Retail Notes; (b) the Series 20032002-A B Portfolio Interest and the beneficial interest in the Series 20032002-A B Portfolio Assets, including the Retail Leases identified on the Schedule of Retail Leases to the Initial PA Assignment delivered to NFRRC on the Closing Date and the Retail Leases identified on the Schedule of Retail Leases to the PA Assignment delivered to NFRRC on any subsequent Purchase Date (the "Designated Retail Leases" and together with the Designated Retail Notes, the "Designated Receivables") and the Related Titling Trust Assets associated with the Designated Retail Leases and, with respect to the sale on the Closing Date, the Series 20032002-A B Portfolio Certificate; and (c) the rights, but not the obligations, of NFC under the Lease Purchase Agreement, the Initial LPA Assignment and any Subsequent Transfer LPA Assignment with respect to the Designated Retail Leases.

Purchase and Sale of Receivables. Subject to the satisfaction of the conditions specified in Article IV, NFC agrees to sell, transfer, assign and otherwise convey to NFRRC, without recourse (except as provided in Section 5.04), and NFRRC agrees to purchase (i) on the Closing Date pursuant to a written assignment substantially in the form of Exhibit A (the "Initial PA Assignment"), and (ii) on each Subsequent Transfer Date (each, together with the Closing Date, a "Purchase Date"), pursuant to an assignment substantially in the form of Exhibit B (each, a "Subsequent Transfer PA Assignment" and, together with the Initial PA Assignment, each a "PA Assignment") up to the Available Purchase Amount, all right, title and interest of NFC in, to and under: (a) the Retail Notes identified on the Schedule of Retail Notes to the PA Assignment delivered to NFRRC on such Purchase Date (the "Designated Retail Notes") and the Related Retail Note Assets associated with the Designated Retail Notes; (b) the Series 2003-A B Portfolio Interest and the beneficial interest in the Series 2003-A B Portfolio Assets, including the Retail Leases identified on the Schedule of Retail Leases to the Initial PA Assignment delivered to NFRRC on the Closing Date and the Retail Leases identified on the Schedule of Retail Leases to the PA Assignment delivered to NFRRC on any subsequent Purchase Date (the "Designated Retail Leases" and together with the Designated Retail Notes, the "Designated Receivables") and the Related Titling Trust Assets associated with the Designated Retail Leases and, with respect to the sale on the Closing Date, the Series 2003-A B Portfolio Certificate; and (c) the rights, but not the obligations, of NFC under the Lease Purchase Agreement, the Initial LPA Assignment and any Subsequent Transfer LPA Assignment with respect to the Designated Retail Leases.