Common use of Reaffirmation of Representations and Warranties by the Seller; Notice of Breach Clause in Contracts

Reaffirmation of Representations and Warranties by the Seller; Notice of Breach. On each sale date, the Seller, by accepting the proceeds of such sale, shall be deemed to have certified that all representations and warranties described in Section 4.1 are true and correct on and as of such day as though made on and as of such day and that all the covenants to be performed by the Seller have been performed. The representations and warranties set forth in Section 4.1 shall survive the conveyance of the Receivables to the Purchaser, and termination of the rights and obligations of the Purchaser and the Seller under this Agreement. Upon discovery by the Purchaser or the Seller of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other within three (3) Business Days of such discovery.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Proffitts Credit Card Master Trust), Receivables Purchase Agreement (Saks Inc)

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Reaffirmation of Representations and Warranties by the Seller; Notice of Breach. On each sale datedate that Receivables are conveyed hereunder, the Seller, by accepting the proceeds of such saleconveyance, shall be deemed to have certified that all representations and warranties described in Section 4.1 are true and correct on and as of such day as though made on and as of such day and that all the covenants to be performed by the Seller have been performedday. The representations and warranties set forth in Section 4.1 shall survive the conveyance of the Receivables to the Purchaser, and termination of the rights and obligations of the Purchaser and the Seller under this Agreement. Upon discovery by the Purchaser or the Seller of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other within three (3) Business Days of such discovery.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Unova Inc)

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Reaffirmation of Representations and Warranties by the Seller; Notice of Breach. On each sale dateAddition Date, the Seller, by accepting the proceeds of such sale, Seller shall be deemed to have certified that all representations and warranties described in Section 4.1 are true and correct on and as of such day date as though made on and as of such day date and that all the covenants to be performed by the Seller have been performed. The representations and warranties set forth in Section 4.1 shall survive the conveyance of the Receivables to the Purchaser, and termination of the rights and obligations of the Purchaser and the Seller under this Agreement. Upon discovery by the Purchaser or the Seller of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other within three (3) Business Days of such discovery.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Saks Inc)

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