Common use of Responsibilities of the Originator Clause in Contracts

Responsibilities of the Originator. Anything herein to the contrary notwithstanding: (a) each Originator agrees to deliver directly to the Servicer (for the Initial Purchaser's account), within two (2) Business Days of receipt thereof, any Collections that it receives, in the form so received, and agrees that all Collections shall be deemed to be received in trust for the Initial Purchaser and shall be maintained and segregated separate and apart from all other funds and moneys of such Originator until delivery of the Collections to the Servicer; (b) each Originator agrees to instruct (i) all Obligors to cause all Collections to be sent to a Lock-Box that is the subject of a Lock-Box Agreement and (ii) each Lock-Box Bank to (c) each Originator shall (i) perform all of its obligations hereunder and under the Contracts related to the Pool Receivables and Related Rights (and under its agreements with the Lock-Box Banks) to the same extent as if the Pool Receivables and Related Rights had not been sold hereunder, and the exercise by the Initial Purchaser or its designee or assignee of the Initial Purchaser's rights hereunder or in connection herewith shall not relieve such Originator from such obligations and (ii) pay when due any taxes, including, without limitation, any sales taxes payable in connection with the Pool Receivables and their creation and satisfaction. Notwithstanding anything to the contrary in this Agreement, none of the Initial Purchaser, the Administrator or the Purchaser shall have any obligation or liability with respect to any Receivable or Related Rights nor shall any of them be obligated to perform any of the obligations of any Originator under any of the foregoing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (D & K Healthcare Resources Inc)

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Responsibilities of the Originator. Anything herein to the contrary notwithstanding: (a) each The Originator agrees to deliver directly to the Servicer (for the Initial Purchaser's Issuer’s account), within two (2) one Business Days of Day after receipt thereof, any Fee Collections that it receives, in the form so received, and agrees that all such Fee Collections shall will be deemed to be received in trust for the Initial Purchaser Issuer and shall its assignees and will be maintained and segregated separate and apart from all other funds and moneys of such the Originator until delivery of the such Fee Collections to the Servicer;; and (b) each The Originator agrees hereby grants to instruct the Issuer an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the Originator all steps necessary or advisable to endorse, negotiate or otherwise realize on any writing or other right of any kind held or transmitted by the Originator or transmitted or received by the Issuer (iwhether or not from the Originator) all Obligors to cause all Collections to in connection with any Cartus Purchased Asset (which power of attorney may be sent to a Lock-Box that is exercised by the subject of a Lock-Box Agreement Issuer’s successors and (ii) each Lock-Box Bank toassigns in accordance with Section 8.4 and Section 11.12(b)). (c) each The Originator shall (i) perform all of its obligations hereunder and under the Pool Relocation Management Agreements and other Contracts related to the Pool Receivables and Related Rights Cartus Fee Purchased Assets to which it is a party (and under its agreements with other than those obligations undertaken by the Lock-Box BanksIssuer as provided in Section 7.4(b)) to the same extent as if the Pool Receivables and Related Rights such Cartus Fee Purchased Assets had not been sold hereunder, and the exercise by the Initial Purchaser Issuer or its designee or assignee of the Initial Purchaser's Issuer’s rights hereunder or in connection herewith shall not relieve such the Originator from any of its obligations under any such Pool Relocation Management Agreements or Contracts related to the Cartus Fee Purchased Assets to which it is a party. Notwithstanding the foregoing, the Originator acknowledges that the Issuer or its designees are entitled to perform such obligations and (ii) pay when due any taxes, including, without limitation, any sales taxes payable in connection with the Pool Receivables and their creation and satisfaction. Notwithstanding anything to the contrary in this Agreement, none of extent permitted under the Initial Purchaser, the Administrator or the Purchaser shall have any obligation or liability with respect to any Receivable or Related Rights nor shall any of them be obligated to perform any of the obligations of any Originator under any of the foregoingTransaction Documents.

Appears in 1 contract

Samples: Fee Receivables Purchase Agreement (NRT Settlement Services of Missouri LLC)

Responsibilities of the Originator. Anything herein to the contrary notwithstanding: (a) each The Originator agrees to deliver directly to the Servicer (for the Initial Purchaser's account), within two (2) Business Days of receipt thereof, transfer any Collections that it receives, in receives directly to the form so receivedCollection Account within one Business Day of receipt thereof, and agrees that all such Collections shall be deemed to be received segregated and held in trust for the Initial Purchaser Company and shall be maintained and segregated separate and apart from all other funds and moneys of such Originator until delivery the Lender; PROVIDED that if the Company or the Servicer is required by Section 5.4 of the Loan and Servicing Agreement to remit Collections directly to the Servicer;Lender (or its designee) the Originator shall remit such Collections directly to the Lender (or its designee) in the same manner as the Company and Servicer may be required to do so by Section 5.4 of the Loan and Servicing Agreement. The Originator further agrees not to deposit any funds other than Collections in the Collection Account. (b) each Originator agrees to instruct (i) all Obligors to cause all Collections to be sent to a Lock-Box that is the subject of a Lock-Box Agreement and (ii) each Lock-Box Bank to (c) each The Originator shall (i) perform all of its obligations hereunder and under the Contracts related to the Pool Receivables and Related Rights (and under its agreements with the Lock-Box Banks) to the same extent as if the Pool Receivables and Related Rights had not been sold hereunder, and the exercise by the Initial Purchaser Company or its designee or assignee of the Initial Purchaser's its rights hereunder or in connection herewith shall not relieve such the Originator from such obligations and obligations. (iic) pay when due any taxes, including, without limitation, any sales taxes payable in connection with the Pool Receivables and their creation and satisfaction. Notwithstanding anything to the contrary in this Agreement, none None of the Initial PurchaserCompany, Servicer (if other than the Administrator Originator), or the Purchaser Lender shall have any obligation or liability to the Obligor or any other third Person with respect to any Receivable Receivables or Related Rights the Isuzu Loan Documents, nor shall any of them the Company, Servicer (if other than the Originator), or the Lender be obligated to perform any of the obligations of any the Originator under any thereunder. (d) The Originator agrees to deliver to the Servicer (if other than the Originator) an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the foregoingOriginator all steps necessary or advisable to indorse, negotiate or otherwise realize on any writing or other right of any kind held or transmitted by the Originator or transmitted or received by the Company (whether or not from the Originator) in connection with any Receivable or Related Right.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Allete)

Responsibilities of the Originator. Anything herein to the contrary notwithstanding: (a) each Originator agrees to deliver directly to the Servicer (for the Initial Purchaser's account), within two (2) Business Days of receipt thereof, any Collections that it receives, in the form so received, and agrees that all Collections shall be deemed to be received in trust for the Initial Purchaser and shall be maintained and segregated separate and apart from all other funds and moneys of such Originator until delivery of the Collections to the Servicer; (b) each Originator agrees to instruct (i) all Obligors to cause all Collections to be sent to a Lock-Box that is the subject of a Lock-Box Agreement and (ii) each Lock-Box Bank toto deposit all such Collections directly into a Lock-Box Account that is the subject of a Lock-Box Agreement; and (c) each Originator shall (i) perform all of its obligations hereunder and under the Contracts related to the Pool Receivables and Related Rights (and under its agreements with the Lock-Box Banks) to the same extent as if the Pool Receivables and Related Rights had not been sold hereunder, and the exercise by the Initial Purchaser or its designee or assignee of the Initial Purchaser's rights hereunder or in connection herewith shall not relieve such Originator from such obligations and (ii) pay when due any taxes, including, without limitation, any sales taxes payable in connection with the Pool Receivables and their creation and satisfaction. Notwithstanding anything to the contrary in this Agreement, none of the Initial Purchaser, the Administrator or the Purchaser shall have any obligation or liability with respect to any Receivable or Related Rights nor shall any of them be obligated to perform any of the obligations of any Originator under any of the foregoing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Maxtor Corp)

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Responsibilities of the Originator. Anything herein to the contrary notwithstanding: (a) each the Originator agrees to deliver direct its Obligors to make payments of Receivables directly to a post office box related to the relevant Lock-box Account at a Lock-box Bank. The Originator further agrees to transfer any Collections that it receives directly to the Servicer (for the Initial PurchaserAFC's account), ) within two (2) one Business Days Day of receipt thereof, any Collections that it receives, in the form so received, and agrees that all such Collections shall be deemed to be received in trust for the Initial Purchaser AFC and shall be maintained and segregated separate and apart from all other funds and moneys monies of the Originator until transfer of such Originator until delivery of the Collections to the Servicer;, (b) each Originator agrees to instruct (i) all Obligors to cause all Collections to be sent to a Lock-Box that is the subject of a Lock-Box Agreement and (ii) each Lock-Box Bank to (c) each Originator shall (i) perform all of its obligations hereunder and under the Contracts related to the Pool Receivables and Related Rights (and under its agreements with the Lock-Box Banks) to the same extent as if the Pool Receivables and Related Rights had not been sold hereunder, and the exercise by the Initial Purchaser AFC or its designee or assignee of the Initial Purchaser's any of its rights hereunder or in connection herewith shall not relieve such the Originator from such obligations and obligations, (iic) pay when due any taxes, including, without limitation, any sales taxes payable in connection with the Pool Receivables and their creation and satisfaction. Notwithstanding anything to the contrary in this Agreement, none of the Initial Purchaserneither AFC, the Administrator or Servicer, the Purchaser nor the Agent shall have any obligation or liability to any Obligor or any other third Person with respect to any Receivable Receivables, Contracts related thereto or Related Rights any other related agreements, nor shall any of them AFC, the Servicer, the Purchaser or the Agent be obligated to perform any of the obligations of any the Originator under any thereunder, and (d) the Originator hereby grants to the Servicer an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the foregoingOriginator all steps necessary or advisable to indorse, negotiate or otherwise realize on any writing or other right of any kind held or transmitted by such Originator or transmitted or received by AFC (whether or not from the Originator) in connection with any Receivable.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Amphenol Corp /De/)

Responsibilities of the Originator. Anything herein to the contrary notwithstanding: (a) each Originator agrees to deliver directly to the Servicer (for the Initial Purchaser's account), within two (2) Business Days of receipt thereof, any Collections that it receives, in the form so received, and agrees that all Collections shall be deemed to be received in trust for the Initial Purchaser and shall be maintained and segregated separate and apart from all other funds and moneys of such Originator until delivery of the Collections to the ServicerPurchaser; (b) each Originator agrees to instruct (i) all Obligors to cause all Collections to be sent to a Lock-Box that is the subject of a Lock-Box Agreement and (ii) each Lock-Box Bank toto deposit all such Collections directly into a Lock-Box Account that is the subject of a Lock-Box Agreement; and (c) each Originator shall (i) perform all of its obligations hereunder and under the Contracts related to the Pool Receivables and Related Rights (and under its agreements with the Lock-Box Banks) to the same extent as if the Pool Receivables and Related Rights had not been sold hereunder, and the exercise by the Initial Purchaser or its designee or assignee of the Initial Purchaser's rights hereunder or in connection herewith shall not relieve such Originator from such obligations and (ii) pay when due any taxes, including, without limitation, any sales taxes payable in connection with the Pool Receivables and their creation and satisfaction. Notwithstanding anything to the contrary in this Agreement, none of the Initial Purchaser, the Administrator or the any Purchaser shall have any obligation or liability with respect to any Receivable or Related Rights nor shall any of them be obligated to perform any of the obligations of any Originator under any of the foregoing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Conmed Corp)

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