Purchase Termination. If an Insolvency Event shall occur with respect to RPA Seller or Purchaser, then RPA Seller shall immediately cease to transfer Principal Receivables to Purchaser and shall promptly give notice to Purchaser and Indenture Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to Purchaser of additional Principal Receivables, Principal Receivables transferred to Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of Purchaser transferable by Purchaser to the Indenture Trustee pursuant to the Transfer and Servicing Agreement.
Appears in 3 contracts
Samples: Receivables Purchase Agreement (First National Funding LLC), Receivables Purchase Agreement (First National Funding LLC), Receivables Purchase Agreement (First National Master Note Trust)
Purchase Termination. If an Insolvency Event shall occur with respect to RPA Seller or Purchaser, then RPA Seller shall immediately cease to transfer Principal Receivables to Purchaser and shall promptly give notice to Purchaser and Indenture Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to Purchaser of additional Principal Receivables, Principal Receivables transferred to Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of Purchaser transferable by Purchaser to the Indenture Trustee Certificate Trust pursuant to the Transfer Pooling and Servicing Agreement.
Appears in 3 contracts
Samples: Receivables Purchase Agreement (Cabela's Master Credit Card Trust), Receivables Purchase Agreement (Cabela's Master Credit Card Trust), Receivables Purchase Agreement (Cabela's Credit Card Master Note Trust)
Purchase Termination. If an Insolvency Event shall occur with respect to RPA Seller or PurchaserSeller, then RPA Seller shall immediately cease to transfer Principal Receivables to Purchaser and shall promptly give notice to Purchaser and Indenture Receivables Trust Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to Purchaser of additional Principal Receivables, Principal Receivables transferred to Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of Purchaser transferable by Purchaser to the Indenture Trustee Receivables Trust pursuant to the Pooling and Servicing Agreement or the Transfer and Servicing Agreement, as applicable.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (World Financial Network Credit Card Master Trust), Receivables Purchase Agreement (World Financial Network Credit Card Master Trust)
Purchase Termination. If an Insolvency Event shall occur with respect to RPA Seller or Purchaser, then RPA Seller shall immediately cease to transfer Principal Receivables to Purchaser and shall promptly give notice to Purchaser and Indenture Receivables Trust Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to Purchaser of additional Principal Receivables, Principal Receivables transferred to Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of Purchaser transferable by Purchaser to the Indenture Trustee Receivables Trust pursuant to the Pooling and Servicing Agreement or the Transfer and Servicing Agreement, as applicable.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (First Bankcard Master Credit Card Trust), Receivables Purchase Agreement (First Bankcard Master Credit Card Trust)
Purchase Termination. If an Insolvency Event shall occur occurs with respect to RPA Seller or Purchaserthe Seller, then RPA the Seller shall immediately cease to transfer Principal Receivables to the Purchaser and shall promptly give notice to Purchaser the Purchaser, the Owner Trustee and the Indenture Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to the Purchaser of additional Principal Receivables, Principal Receivables transferred to the Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of the Purchaser transferable available for transfer by the Purchaser to the Indenture Trustee Trust pursuant to the Transfer and Servicing Agreement.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Nordstrom Inc), Receivables Purchase Agreement (Nordstrom Credit Inc)
Purchase Termination. If an Insolvency Event shall occur occurs with respect to RPA Seller or Purchasereither Seller, then RPA the applicable Seller shall immediately cease to transfer Principal Receivables to the Purchaser and shall promptly give notice to Purchaser the Purchaser, the Owner Trustee and the Indenture Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to the Purchaser of additional Principal Receivables, Principal Receivables transferred to the Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of the Purchaser transferable available for transfer by the Purchaser to the Indenture Trustee Trust pursuant to the Transfer and Servicing Agreement.. ARTICLE NINE
Appears in 1 contract
Purchase Termination. If an Insolvency Event shall occur with respect to RPA Seller or PurchaserSeller, then RPA Seller shall immediately cease to transfer Principal Receivables to Purchaser and shall promptly give notice to Purchaser and the Indenture Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to Purchaser of additional Principal Receivables, Principal Receivables transferred to Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of Purchaser transferable by Purchaser to the Indenture Trustee Trust pursuant to the Transfer and Servicing Agreement.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Bread Financial Holdings, Inc.)
Purchase Termination. If an Insolvency Event shall occur with respect to RPA Seller or PurchaserSeller, then RPA Seller shall immediately cease to transfer Principal Receivables to Purchaser and shall promptly give notice to Purchaser and Indenture Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to Purchaser of additional Principal Receivables, Principal Receivables transferred to Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of Purchaser transferable by Purchaser to the Indenture Trustee Trust pursuant to the Transfer Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Alliance Data Systems Corp)
Purchase Termination. If an Insolvency Event shall occur with respect to RPA Seller or PurchaserSeller, then RPA Seller shall immediately cease to transfer Principal Receivables to Purchaser and shall promptly give notice to Purchaser and the Indenture Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to Purchaser of additional Principal Receivables, Principal Receivables transferred to Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of Purchaser transferable by Purchaser to the Indenture Trustee Trust pursuant to the Transfer and Servicing Agreement.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Alliance Data Systems Corp)
Purchase Termination. If an Insolvency Event shall occur occurs with respect to RPA Seller or Purchaserthe Seller, then RPA the Seller shall immediately cease to transfer Principal Receivables to the Purchaser and shall promptly give notice to Purchaser the Purchaser, the Owner Trustee and the Indenture Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to the Purchaser of additional Principal Receivables, Principal Receivables transferred to the Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in respect of such Principal Receivables, shall continue to be property of the Purchaser transferable available for transfer by the Purchaser to the Indenture Trustee Trust pursuant to the Transfer and Servicing Agreement.. ARTICLE NINE
Appears in 1 contract
