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

Receivables Not To Be Evidenced by Instruments. Except in connection with its enforcement or collection of an Account, the Servicer will take no action to cause any Receivable to be evidenced by any instrument or chattel paper (as defined in the Personal Property Security Act (Ontario)) and if any Receivable is so evidenced it shall be purchased by the Servicer as provided in this Section.

Receivables Not To Be Evidenced by Instruments. Except in connection with its enforcement or collection of an Account, the Servicer will take no action to cause any Receivable to be evidenced by any instrument instrument, investment property or chattel paper (as such terms are defined in the Personal Property Security Act (Ontario)) and if any Receivable is so evidenced it shall be purchased by the Servicer as provided in this Section.;