Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Seller will take no action to cause any Receivable to be evidenced by any instrument (as defined in the UCC) and if any Receivable is so evidenced it shall be deemed to be an Ineligible Receivable in accordance with Section 2.05(a) and shall be reassigned to the Sellers in accordance with Section 2.05(b).
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Samples: Pooling and Servicing Agreement (Citibank, N.A., as Depositor of Citibank Credit Card Issuance Trust), Pooling and Servicing Agreement, Pooling and Servicing Agreement (Citibank, N.A., as Depositor of Citibank Credit Card Issuance Trust)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such the Seller will take no action to cause any Receivable 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 the Seller it shall be deemed to be an Ineligible ineligible Receivable in accordance with Section 2.05(a6.01(a) and shall be reassigned to the Sellers Seller in accordance with Section 2.05(b6.01(b).
Appears in 3 contracts
Samples: Receivables Purchase Agreement (Goldman Sachs Asset Backed Securities Corp), Receivables Purchase Agreement (Gs Mortgage Securities Corp), Receivables Purchase Agreement (Ace Securities Corp)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such the Seller will take no action to cause any Receivable (or underlying receivable) to be evidenced by any instrument (as defined in the UCC) and if any Receivable (or underlying receivable) is so evidenced as a result of any action by the Seller it shall be deemed to be an Ineligible Receivable in accordance with Section 2.05(a) 6.01 and shall be reassigned to the Sellers Seller in accordance with Section 2.05(b)6.01.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Signet Jewelers LTD)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Accountany Receivable, such the Seller will take no action to cause any Receivable conveyed by it to the Purchaser to be evidenced by any instrument (as defined in the UCC) and if any Receivable is so evidenced (whether or not in connection with the enforcement or collection of a Receivable), it shall be deemed to be an Ineligible Receivable in accordance with Section 2.05(a) and shall be reassigned to the Sellers Seller in accordance with Section 2.05(b6.01(b).
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