Removal of Eligible Accounts. (a) On each Determination Date on which Accounts, including all amounts then held by the Trust or thereafter received by the Trust with respect to such Accounts, are removed from the Trust pursuant to Section 2.7(b) of the Pooling and Servicing Agreement, the Buyer shall be deemed to have offered to the Seller automatically and without notice to or action by or on behalf of the Buyer, the right to remove Eligible Accounts from the operation of this Agreement in the manner prescribed in Section 2.6(b). The termination of an Account by a Dealer upon such Dealer's payment in full of such Account shall not be a removal of an Account under this Section.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Greentree Floorplan Funding Corp), Receivables Purchase Agreement (Greentree Floorplan Funding Corp)
Removal of Eligible Accounts. (a) On each Determination Date on which Accounts, including all amounts then held by the Trust or thereafter received by the Trust with respect to such Accounts, are removed from the Trust pursuant to Section 2.7(b) 2.7 of the Pooling and Servicing Agreement, the Buyer shall be deemed to have offered to the applicable Seller automatically and without notice to or action by or on behalf of the Buyer, the right to remove Eligible Accounts from the operation of this Agreement in the manner prescribed in Section 2.6(b), subject to Section 2.6(d). The termination of an Account by a Dealer upon such Dealer's payment in full of such Account shall not be a removal of an Account under this Section.
Appears in 2 contracts
Samples: Contribution and Sale Agreement (Distribution Financial Services Floorplan Master Trust), Contribution and Sale Agreement (CDF Funding, Inc.)
Removal of Eligible Accounts. (a) On each Determination Date on which Accounts, including all amounts then held by the Trust or thereafter received by the Trust with respect to such Accounts, are removed from the Trust pursuant to Section 2.7(b) 2.7 of the Pooling and Servicing Agreement, the Buyer shall be deemed to have offered to the Seller automatically and without notice to or action by or on behalf of the Buyer, the right to remove Eligible Accounts from the operation of this Agreement in the manner prescribed in Section 2.6(b). The termination of an Account by a Dealer upon such Dealer's payment in full of such Account shall not be a removal of an Account under this Section.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Green Tree Financial Corp), Receivables Purchase Agreement (Green Tree Financial Corp)
Removal of Eligible Accounts. (a) On each Determination Date on which Accounts, including all amounts then held by the Trust or thereafter received by the Trust with respect to such Accounts, are removed from the Trust pursuant to Section 2.7(b) 2.7 of the Pooling and Servicing Agreement, the Buyer shall be deemed to have offered to the Seller automatically and without notice to or action by or on behalf of the Buyer, the right to remove Eligible Accounts from the operation of this Agreement in the manner prescribed in Section 2.6(b), subject to Section 2.6(d). The termination of an Account by a Dealer upon such Dealer's payment in full of such Account shall not be a removal of an Account under this Section.
Appears in 1 contract
Samples: Contribution and Sale Agreement (Distribution Financial Services Floorplan Master Trust)
Removal of Eligible Accounts. (a) On each Determination Date ---------------------------- on which Accounts, including all amounts then held by the Trust or thereafter received by the Trust with respect to such Accounts, are removed from the Trust pursuant to Section 2.7(b) 2.7 of the Pooling and Servicing Agreement, the Buyer shall be deemed to have offered to the applicable Seller automatically and without notice to or action by or on behalf of the Buyer, the right to remove Eligible Accounts from the operation of this Agreement in the manner prescribed in Section 2.6(b), subject to Section 2.6(d). The termination of an Account by a Dealer upon such Dealer's payment in full of such Account shall not be a removal of an Account under this Section.
Appears in 1 contract
Samples: Receivables Contribution and Sale Agreement (Deutsche Floorplan Receivables L P)
Removal of Eligible Accounts. (a) On each Determination Date on which Accounts, including all amounts then held by the Trust or thereafter received by the Trust with respect to such Accounts, are removed from the Trust pursuant to Section 2.7(b) 2.7 of the Pooling and Servicing Agreement, the Buyer shall be deemed to have offered to the applicable Seller automatically and without notice to or action by or on behalf of the Buyer, the right to remove Eligible Accounts from the operation of this Agreement in the manner prescribed in Section 2.6(b). The termination of an Account by a Dealer upon such Dealer's payment in full of such Account shall not be a removal of an Account under this Section.
Appears in 1 contract
Samples: Receivables Contribution and Sale Agreement (Deutsche Floorplan Receivables L P)
Removal of Eligible Accounts. (a) On each Determination Date on which Accounts, including all amounts then held by the Trust or thereafter received by the Trust with respect to such Accounts, are removed from the Trust pursuant to Section 2.7(b) 2.7 of the Pooling and Servicing Agreement, the Buyer shall be deemed to have offered to the Seller automatically and without notice to or action by or on behalf of the Buyer, the right to remove Eligible Accounts from the operation of this Agreement in the manner prescribed in Section 2.6(b), subject to Section 2.6(d). The termination of an Account by a Dealer upon such Dealer's payment in full of such Account shall not be a removal of an Account under this Section.. Contribution and Sale Agreement
Appears in 1 contract
Samples: Receivables Contribution and Sale Agreement (CDF Funding, Inc.)