Common use of Receivables Financing Further Assurances Clause in Contracts

Receivables Financing Further Assurances. Following the consummation of any sale of Securitization Assets by the Receivables Subsidiary to the Receivables Financier, each of the applicable Credit Parties in its capacity as an owner of the Capital Stock of the Receivables Subsidiary will take such action to cause, to the extent it is legally able to do so in its capacity as an owner of Capital Stock, the Receivables Subsidiary to dividend, distribute, lend (on a basis subordinated to the Credit Party Obligations) or otherwise transfer to the Credit Parties any Property (including cash) of the Receivables Subsidiary not required to be pledged to the Receivables Financier or required to be held by the Receivables Subsidiary by the terms of the Permitted Receivables Financing.

Receivables Financing Further Assurances. Following the consummation of any sale of Securitization Assets by the any Receivables Subsidiary to the applicable Receivables Financier, each of the applicable Credit Parties in its capacity as an owner of the Capital Stock of the such Receivables Subsidiary will take such action to cause, to the extent it is legally able to do so in its capacity as an owner of Capital Stock, the such Receivables Subsidiary to dividend, distribute, lend (on a basis subordinated to the Credit Party Obligations) or otherwise transfer to the Credit Parties any Property (including cash) of the such Receivables Subsidiary not required to be pledged to the applicable Receivables Financier or required to be held by the such Receivables Subsidiary by the terms of the applicable Permitted Receivables Financing.