Removal of Originators Sample Clauses

Removal of Originators. Any Originator hereunder may be removed from this Agreement with the prior written consent of the Company, the Administrative Agent and each Purchaser, in each case in its sole discretion; provided that (i) the following conditions are satisfied on or before the date of such removal:
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Removal of Originators. If in connection with a Business Unit Sale, Parent (or another Exela Party) enters into definitive agreements to sell the Capital Stock of any Originator (a “Terminating Originator”) or all or substantially all of such Terminating Originator’s assets to a Person that is not Exela or an Affiliate of Exela then such Terminating Originator may terminate its obligation to sell and assign Receivables and Related Assets to Buyer hereunder so long as each of the following conditions is satisfied:
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Removal of Originators. Any Originator may terminate its obligation to sell, assign and contribute Receivables to Buyer hereunder so long as each of the following conditions is satisfied:
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Removal of Originators. Any Originator may terminate its ability to sell and assign Receivables to Borrower hereunder so long as each of the following conditions is satisfied:
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Removal of Originators. The parties hereto agree that, in order to avoid the occurrence of an Event of Termination under Section 7.01(l) as a result of the sale of an Originator to a third party (whether through the sale of equity interests of such Originator, a merger with such Originator or otherwise), the Seller, the applicable Intermediate SPV and any applicable Designated Entity may, upon not less than thirty (30) days prior written notice from the Seller to each Agent (which notice shall in any event be delivered to each Agent not less than thirty (30) days prior to the occurrence of such Event of Termination), cease purchasing or acquiring Originator Receivables, directly or indirectly, from such Originator, at which time such Originator shall cease to be an “Originator” for the purposes of this Agreement and the other Transaction Documents (such time, the “Originator Removal Effective Time”); provided, that (A) no Event of Termination or Incipient Event of Termination shall have occurred and be continuing or would result from such Originator ceasing to be an “Originator” for purposes of this Agreement and the other Transaction Documents or as a result of any of the other transactions contemplated to occur under this Section 7.02 in connection therewith, (B) effective as of the Originator Removal Effective Time, no further Originator Receivables created by such Originator may be transferred to any other IR Party pursuant to any Purchase Agreement, (C) such Originator shall not be a Designated Entity at the time of its removal unless each Originator from which such Designated Entity may acquire Originator Receivables pursuant to any Purchase Agreement is simultaneously removed as an “Originator” in compliance with the terms of this Section 7.02, (D) no Originator may cease to be an “Originator” if the aggregate Outstanding Balance of all Eligible Receivables created by such Originator (or if more than one such Originator, by such Originators) as of the applicable Originator Removal Effective Time, together with the aggregate Outstanding Balance of all Eligible Receivables created by each other Person which has ceased to be an “Originator” at any time as of the Originator Removal Effective Time with respect to such Person in each case, shall exceed 10% of the aggregate Outstanding Balance of all Eligible Receivables created by all Persons which were “Originators” as of the date hereof, determined as of the date hereof (and the Seller shall deliver to the Agents a certificate...
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Removal of Originators. Any Originator that is an Immaterial Originator at the relevant time of determination may terminate its obligation to sell and assign Receivables to Buyer hereunder so long as each of the following conditions is satisfied:
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Removal of Originators. In recognition of the adoption of the Plan and Xxxxxxxx’x assumption of the Merger Parties’ rights and obligations under the Purchase and Contribution Agreement, the parties to the Purchase and Contribution Agreement hereby release the Merger Parties from all of their rights, obligations and liabilities under the Purchase and Contribution Agreement and acknowledge that, as of the Merger Effective Date, the Merger Parties are no longer Originators party to the Purchase and Contribution Agreement.
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Removal of Originators. Notwithstanding any other provision of this Agreement, any Originator may be removed as a party to this Agreement in connection with the sale or transfer of such Originator to one or more unrelated third parties without the prior written consent of the Administrative Agent or each Purchaser so long as each of the following conditions are then satisfied (any such entity, an “Excluded Originator”):
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Related to Removal of Originators

  • Repossession of Financed Vehicles On behalf of the Issuer, the Servicer will use commercially reasonable efforts, consistent with its Customary Servicing Practices, to repossess or otherwise convert the ownership of and liquidate the Financed Vehicle securing any Receivable as to which the Servicer has determined eventual payment in full is unlikely; provided, however, that the Servicer may elect not to repossess a Financed Vehicle if in its sole discretion it determines that repossession will not increase the amounts described in clauses (a) through (c) of the definition of Liquidation Proceeds by an amount greater than the expense of such repossession or that the proceeds ultimately recoverable with respect to such Receivable would be increased by forbearance. The Servicer is authorized as it deems necessary or advisable, consistent with its Customary Servicing Practices, to make reasonable efforts to realize upon any recourse to any Dealer and to sell the related Financed Vehicle at public or private sale. The foregoing will be subject to the provision that, in any case in which the Financed Vehicle has suffered damage, the Servicer shall not be required to expend funds in connection with the repair or the repossession of such Financed Vehicle unless it determines in its sole discretion that such repair and/or repossession will increase the amounts described in clauses (a) through (c) of the definition of Liquidation Proceeds with respect to such Financed Vehicle by an amount greater than the amount of such expenses. The Servicer, in its sole discretion, may in accordance with its Customary Servicing Practices sell any Receivable’s deficiency balance. Net proceeds of any such sale allocable to the Receivable will constitute Liquidation Proceeds, and the sole right of the Issuer and the Indenture Trustee with respect to any such sold Receivables will be to receive such Liquidation Proceeds. Upon such sale, the Servicer will xxxx its computer records indicating that any such receivable sold is no longer a Receivable. The Servicer is authorized to take any and all actions necessary or appropriate on behalf of the Issuer to evidence the sale of the Receivable free from any Lien or other interest of the Issuer or the Indenture Trustee.

  • Country of Origin A. For each Product purchased under this Agreement, Seller shall furnish Buyer with country of origin (manufacture), by quantity and part number (Buyer's and Seller's) if necessary.

  • Deposit of original policies Each Borrower shall ensure that all policies relating to obligatory insurances effected by it are deposited with the approved brokers through which the insurances are effected or renewed.

  • Seller's Origination The Seller's decision to originate any mortgage loan or to deny any mortgage loan application is an independent decision based upon the Underwriting Guidelines, and is in no way made as a result of Purchaser's decision to purchase, or not to purchase, or the price Purchaser may offer to pay for, any such mortgage loan, if originated;

  • Originator The Person that originated the Mortgage Loan pursuant to a written agreement with the related Mortgagor.

  • Santander Consumer Not to Resign as Servicer Subject to the provisions of Sections 6.3 and 6.5, Santander Consumer will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that the performance of its duties under this Agreement is no longer permissible under applicable law. Notice of any such determination permitting the resignation of Santander Consumer will be communicated to the Issuer and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and the Indenture Trustee concurrently with or promptly after such notice. No such resignation will become effective until a successor Servicer has assumed the responsibilities and obligations of Santander Consumer as Servicer.

  • Special Servicing Procedures Section 2.01 Reports and Notices (a) Section 2.02 Purchaser's Election to Delay Foreclosure Proceedings Purchaser's Election to Commence Foreclosure Proceedings (a) Collateral Funds

  • Additional Originators Additional Persons may be added as Originators hereunder, with the prior written consent of the Buyer, the Administrative Agent and each Lender (which consents may be granted or withheld in their sole discretion); provided that the following conditions are satisfied or waived in writing by the Administrative Agent and each Lender on or before the date of such addition:

  • EXECUTION OF ORDERS All orders for the creation or redemption of Creation Units shall be handled in accordance with the terms of the Prospectus, and the procedures described in Attachments A and A-1 to this Agreement. In the event the procedures include the use of recorded telephone lines, the Participant hereby consents to such use. The Trust reserves the right to issue additional or other procedures relating to the manner of creating or redeeming Creation Units, and the Participant, and the Distributor agree to comply with such procedures as may be issued from time to time, upon reasonable notice thereof. The Participant understands and acknowledges that the Transfer Agent will not effect a creation or redemption until it has received confirmation of receipt of the Participant’s incoming security transfer and/or cash through the Trust’s Clearing Process, Fed Book-Entry System, Euroclear and/or DTC in the case of a creation, and through the Trust’s Clearing Process, Euroclear and/or DTC in the case of a redemption. With respect to any order for the creation or redemption of Creation Units, the Participant acknowledges and agrees on behalf of itself and any party for which it is acting (regardless of its capacity) to return to the Trust any dividend, distribution or other corporate action paid to it or to the party for which it is acting in respect of any Deposit Security that is transferred to the Participant or any party for which it is acting that, based on the valuation of such Deposit Security at the time of transfer should have been paid to the Trust. With respect to any orders for the creation or redemption of Creation Units, the Participant also acknowledges and agrees on behalf of itself and any party for which it is acting (regardless of its capacity) that the Transfer Agent is entitled to reduce the amount of money or other proceeds due to the Participant or any party for which it is acting that, based on the valuation of such Deposit Security at the time of transfer, should be paid to the Fund. With respect to any order for the creation or redemption of Creation Units, the Trust acknowledges and agrees to return to the Participant or any party for which it is acting any dividend, distribution or other corporate action paid to the Trust in respect of any Deposit Security that is transferred to the Trust that, based on the valuation of such Deposit Security at the time of transfer, should have been paid to the Participant or any party for which it is acting.

  • GENERAL SERVICING PROCEDURES Section 5.01

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