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 Seller will take no action to cause any Receivable to be evidenced by any instrument, security or chattel paper (as such terms are defined in the Personal Property Security Act (Ontario)) and if any Receivable is so evidenced the Seller shall purchase such Receivable in accordance with Section 2.5(1).

Receivables Not To Be Evidenced by Instruments. Except in connection with its enforcement or collection of an Account, the Seller will take no action to cause any Receivable to be evidenced by any instrument, security investment property or chattel paper (as such terms are defined in the Personal Property Security Act (Ontario)) and if any Receivable is so evidenced the Seller shall purchase such Receivable in accordance with Section 2.5(1).2.05;