Common use of Receivables Not To Be Evidenced by Instruments Clause in Contracts

Receivables Not To Be Evidenced by Instruments. It will take no action to cause any Receivable that is not, as of the Closing Date or the related Settlement Date, as the case may be, evidenced by an “instrument” (as defined in Article 9 of the UCC), other than an instrument that constitutes part of chattel paper, to be so evidenced except in connection with the enforcement or collection of such Receivable.

Appears in 5 contracts

Samples: Master Purchase and Sale Agreement (Carvana Co.), Master Transfer Agreement (Carvana Co.), Master Transfer Agreement (Carvana Co.)

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Receivables Not To Be Evidenced by Instruments. It will take no action to cause any Receivable that is not, as of the Closing Date or the related Settlement Addition Date, as the case may be, evidenced by an “instrument” (as defined in Article 9 of the UCC), other than an instrument [***] Redacted for confidentiality purposes that constitutes part of chattel paper, to be so evidenced except in connection with the enforcement or collection of such Receivable.

Appears in 1 contract

Samples: Loan and Security Agreement (Carvana Co.)

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Receivables Not To Be Evidenced by Instruments. It will take no action to cause any Receivable that is not, as of the Closing Date or the related Settlement Addition Date, as the case may be, evidenced by an “instrument” (as defined in Article 9 of the UCC), other than an instrument that constitutes part of chattel paper, to be so evidenced except in connection with the enforcement or collection of such Receivable.

Appears in 1 contract

Samples: Loan and Security Agreement (Carvana Co.)

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