Receivables Not To Be Evidenced by Instruments. Except in connection with its enforcement or collection of an Account, Centurion will take no action to cause any Receivable sold to TRS hereunder to be evidenced by any instrument (as defined in the UCC), and if any Receivable is so evidenced as a result of any action by Centurion, it shall be deemed to be a Receivable described in Subsection 6.01(a) and shall be reassigned to Centurion in accordance with Subsection 6.01(b).
Appears in 7 contracts
Samples: Receivables Purchase Agreement (American Express Receivables Financing Corp VIII LLC), Receivables Purchase Agreement (American Express Receivables Financing Corp VIII LLC), Receivables Purchase Agreement
Receivables Not To Be Evidenced by Instruments. Except in connection with its enforcement or collection of an Account, Centurion will take no action to cause any Receivable sold to TRS RFC III hereunder to be evidenced by any instrument (as defined in the UCC), and if any Receivable is so evidenced as a result of any action by Centurion, it shall be deemed to be a Receivable described in Subsection 6.01(a) and shall be reassigned to Centurion in accordance with Subsection 6.01(b).
Appears in 5 contracts
Samples: Receivables Purchase Agreement (American Express Credit Account Master Trust), Receivables Purchase Agreement (American Express Credit Account Master Trust), Receivables Purchase Agreement
