Common use of Receivable Not Assumable Clause in Contracts

Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor's obligations to AFL with respect to such Receivable.

Appears in 8 contracts

Samples: Receivables Purchase Agreement and Assignment (Arcadia Receivables Finance Corp), Receivables Purchase Agreement (Arcadia Receivables Finance Corp), Receivables Purchase Agreement (Arcadia Receivables Finance Corp)

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Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor's obligations to AFL OFL with respect to such Receivable.

Appears in 3 contracts

Samples: Receivables Purchase Agreement and Assignment (Olympic Financial LTD), Receivables Purchase Agreement and Assignment (Olympic Financial LTD), Receivables Purchase Agreement and Assignment (Olympic Receivables Finance Corp)

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