Reassignment of Receivables. In the event (i) any representation or warranty of the Transferor contained in Section 2.04(a)(ii), (iii), (iv), (vii), (viii) or (ix) is not true and correct in any material respect as of the date specified therein (individually or together with any other breach or breaches then existing) and such breach has a material adverse effect on the Certificateholders’ Interest of all Series in any Receivables transferred to the Trustee (which determination shall be made without regard to the availability of funds under any Series Enhancement) and remains uncured for sixty (60) days (or such longer period, not in excess of 150 days, as may be agreed to by the Trustee) after the earlier to occur of the discovery thereof by the Transferor or receipt by the Transferor of notice thereof given by the Trustee, or (ii) it is so provided in Section 2.07(a) with respect to any Receivables transferred to the Trustee by the Transferor, then the Transferor shall accept reassignment of all Receivables in the related Account (“Ineligible Receivables”) on the terms and conditions set forth in paragraph (b) below; provided, however, that such Receivables will not be deemed to be Ineligible Receivables and will not be reassigned to the Transferor if, on any day prior to the end of such 60-day or longer period, (x) either (A) in the case of an event described in clause (i) above the relevant representation and warranty shall be true and correct in all material respects as if made on such day or (B) in the case of an event described in clause (ii) above the circumstances causing such Receivable to become an Ineligible Receivable shall no longer exist and (y) the Transferor shall have delivered to the Trustee an Officer’s Certificate of the Transferor describing the nature of such breach and the manner in which the relevant representation and warranty became true and correct.
Reassignment of Receivables. In the event (i) any representation or warranty contained in Section 2.04(a)(ii), (iii), (iv), (vii), (viii) or (ix) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and such breach has a material adverse effect on the Certificateholders’ Interest in any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement), unless cured within 60 days (or such longer period, not in excess of 150 days, as may be agreed to by the Trustee) after the earlier to occur of the discovery thereof by the Sellers or receipt by the Sellers of notice thereof given by the Trustee, or (ii) it is so provided in Section 2.07(a) or 2.09(c)(iii) with respect to any Receivables, then the Sellers shall accept reassignment of the Certificateholders’ Interest in all Receivables in the related Account (“Ineligible Receivables”) on the terms and conditions set forth in paragraph (b) below.
Reassignment of Receivables. In the event (i) any representation or warranty contained in subsection 2.04(a)(ii), (iii), (iv), (vi), (vii), (viii) or (ix) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and such breach has a material adverse effect on any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement) unless cured within 60 days (or such longer period, not in excess of 120 days, as may be agreed to by the Indenture Trustee and the Servicer) after the earlier to occur of the discovery thereof by the Transferor which conveyed such Receivables to the Trust or receipt by the Transferor of written notice thereof given by the Owner Trustee, the Indenture Trustee or the Servicer, or (ii) it is so provided in subsection 2.07(a) with respect to any Receivables conveyed to the Trust by such Transferor, then such Transferor shall accept reassignment of all Receivables in the related Account ("Ineligible Receivables") on the terms and conditions set forth in paragraph (b) below.
Reassignment of Receivables. (a) If any representation or warranty set forth in subsection 2.3 (a), (c), (d) or (e) or paragraph 2.4(a)(i), (v), (vi) or (x) is not true and correct in any material respect as of the date made and such breach has a material adverse effect on the Trust’s interest in the Receivables or the proceeds thereof (which determination shall be made without regard to whether funds are then available to the Trust or any Series Indebtedness Holders pursuant to any Series Enhancement), unless cured within 60 days (or such longer period, not in excess of 150 days, as may be agreed to in writing by the Trust and each Rating Agency) after the earlier to occur of the discovery thereof by the Seller or receipt by the Seller of notice thereof given by the Trust or the Servicer, then:
(i) if the Trust provides written notice to the Seller of its desire to assign the Receivables and any Participation Interest to the Seller, the Trust shall assign to the Seller or its designee, and the Seller or its designee shall purchase from the Trust, all of the Trust’s right, title and interest in, to and under the Receivables and any Participation Interest on the first Allocation Date following the Monthly Period in which such notice is received by the Seller;
(ii) in payment for such purchase, (A) the Seller shall make a deposit, not later than 12:00 noon (Toronto time) on such Allocation Date, into the Collection Account in immediately available funds in an amount equal to the sum of the amounts specified therefor with respect to each outstanding Series in the related Supplement, and (B) the amount payable by the Trust to the Seller in respect of the Seller Indebtedness shall be reduced by an amount equal to an amount by which the Principal Receivables purchased exceeds the amount specified to be payable by the Seller to the Trust pursuant to the related Supplement.
(b) Upon the making of the deposits to the Collection Account, if any, and the reassignment of the Receivables and any Participation Interests, all pursuant to this section 2.6, the Trust shall automatically and without further action be deemed to sell, transfer, assign, set over and otherwise convey to the Seller or its designee, without recourse, representation or warranty, all the right, title and interest of the Trust, in, to and under such Receivables and any Participation Interests, all monies due or to become due and all amounts received with respect thereto, any Funds Collateral securing such Receivables and all pr...
Reassignment of Receivables. The Collateral Agent does hereby reassign to the Trust, without recourse, on and after the Removal Date, all right, title and interest of the Collateral Agent in, to and under the Asset Pool One Receivables now existing and hereafter created from time to time in the Removed Asset Pool One Accounts, all Interchange and Recoveries related thereto, all monies due or to become due (including all Asset Pool One Finance Charge Receivables) and all amounts received or receivable with respect thereto and all proceeds (as defined in the UCC as in effect in the applicable jurisdiction) thereof (the “Removed Collateral”).
Reassignment of Receivables. In the event (i) any representation or warranty contained in subsection 2.04(a)(ii), (iv), (vi), (vii), (viii),(ix), (x), (xvi) or (xvii) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and such breach has a material adverse effect on any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement) unless cured within sixty (60) days (or such longer period, not in excess of 120 days, as may be agreed to by the Indenture Trustee and the Servicer in writing) after the earlier to occur of the discovery thereof by the Transferor which conveyed such Receivables to the Trust or receipt by such Transferor of written notice thereof given by the Owner Trustee, the Indenture Trustee or the Servicer, (ii) any representation or warranty contained in subsection 2.04(a)(iii) is not true and correct in any material respect as of the date specified therein with respect to any Receivable and such breach has a material adverse effect on any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement) or (iii) it is so provided in subsection 2.07(a) with respect to any Receivables conveyed to the Trust by such Transferor, then such Transferor shall accept reassignment of all Receivables in the related Account (“Ineligible Receivables”) on the terms and conditions set forth in paragraph (b) below.
Reassignment of Receivables. Fleet (RI) agrees that upon the execution and delivery of Amendment Number 3, under the terms of the Agreement, it shall be and is deemed to be the Seller which transferred all Receivables to the Trust and agrees to accept the reassignment of Receivables as provided in Sections 2.05 and 2.06 notwithstanding the fact that a Receivable may have been transferred to the Trust prior to the date of this Assignment Agreement and after the date of this Assignment Agreement no such assignment shall be made to Advanta and any amounts required to be deposited as a result of such reassignment shall be the obligation of Fleet (RI).
Reassignment of Receivables. We may reassign and charge back to you all or any portion of your outstanding Receivables purchased by us pursuant to this Agreement:
a. if payment thereon is not received by us within ninety (90) days after the date payment on the Account has become due as reflected by the Account Statement sent to the Customer obligated to pay such Receivables; or b. ninety (90) days after any portion of that Customer's Receivables becomes delinquent or in default, as determined by the terms of the Credit Agreement between you and that Customer; or c. if any dispute arises with the Customer regarding the Receivable, including without limitation, any alleged deduction, defense, offset or counterclaim; or d. if you are in default under the terms of this Agreement or under any other agreement or Obligation you have with us; or e. if this Agreement is terminated.
Reassignment of Receivables. (a) If any representation or warranty under Section 4.2 of this Agreement is not true and correct in any material respect as of the date specified therein or Discover Funding is required to accept reassignment of a Receivable pursuant to Section 2.07 of the Pooling and Servicing Agreement, Discover Bank shall accept reassignment of such Receivable.
(b) If (i) a Trust Portfolio Repurchase Event shall have occurred under the Pooling and Servicing Agreement or (ii) any representation or warranty under Section 4.2 of this Agreement is not true and correct in any material respect as of the date specified therein, and, as a result thereof Discover Funding is required to accept reassignment of a Receivable pursuant to Section 2.05 of the Pooling and Servicing Agreement, Discover Bank shall accept reassignment of such Receivable.
(c) Discover Bank must accept reassignment of any Receivable described in Section 6.1(a) or 6.1(b) on the date on which that Receivable is reassigned to Discover Funding under the Pooling and Servicing Agreement. On that date, automatically and without further action, Discover Funding hereby reassigns to Discover Bank, without recourse, representation, or warranty, all of Discover Funding’s right, title and interest in, to, and under (i) that Receivable, (ii) all Interchange allocable to that Receivable, (iii) all Collections on that Receivable, including any Recovered Amounts and (iv) all proceeds of any of this property. On a date mutually selected by Discover Bank and Discover Funding (which date shall not be later than the fifth Business Day following the calendar month in which the Receivable was reassigned), Discover Bank must pay to Discover Funding in immediately available funds an amount equal to the unpaid balance of that Receivable, and Discover Funding will treat that Receivable as collected in full. Discover Funding must execute all agreements and other documents, and must take all other actions, that are reasonably requested by Discover Bank to effect this reassignment.
(d) After a reassignment under Section 6.1(c), if Discover Bank and Discover Funding cannot determine whether collections relate to a Receivable that is owned by Discover Funding or the DCMT Trustee or to a receivable that has been reassigned to Discover Bank, Discover Bank and Discover Funding must allocate payments on the related Account proportionately based on the total amount of Principal Receivables in that Account then owned by Discover Funding or the ...
Reassignment of Receivables. In the event that:
