Rights of the Purchaser. (a) After the occurrence or declaration of the Facility Maturity Date, the Seller hereby authorizes the Purchaser, the Servicer, the Collateral Agent and the Administrative Agent and/or their respective designees or assignees to take any and all steps in Seller’s name and on behalf of the Seller that the Purchaser, the Servicer, the Collateral Agent or the Administrative Agent and/or their respective designees or assignees determine are necessary or appropriate to collect all amounts due under any and all Sale Portfolio and to enforce or protect the Purchaser’s, the Collateral Agent’s and the Administrative Agent’s rights under this Agreement, including endorsing the name of the Seller on checks and other instruments representing Interest Collections and Principal Collections and enforcing such Sale Portfolio.
(b) Except as set forth in Sections 6.1 and 6.2 with respect to the repurchase or Substitution of certain Loan Assets, the Purchaser shall have no obligation to account for, replace, substitute or return any Sale Portfolio to the Seller. The Purchaser shall have no obligation to account for or to return Interest Collections or Principal Collections, or any interest or other finance charge collected pursuant thereto, to the Seller, irrespective of whether such Interest Collections and Principal Collections and charges are in excess of the Purchase Price for such Sale Portfolio.
(c) The Purchaser shall have the right to further assign, transfer, deliver, hypothecate, subdivide or otherwise deal with the Sale Portfolio and all of the Purchaser’s right, title and interest in, to and under this Agreement, pursuant to the Loan and Servicing Agreement.
(d) The Purchaser shall have the sole right to retain any gains or profits created by buying, selling or holding the Sale Portfolio and shall have the sole risk of and responsibility for losses or damages created by such buying, selling or holding.
Rights of the Purchaser. The Purchaser shall be under no obligation to procure the authorisation, signing or submission to a tax authority of any tax document delivered to it under paragraph 12.3 which it considers in its reasonable opinion to be false or misleading in a material respect, but for the avoidance of doubt shall be under no obligation to make any enquiry as to the completeness or accuracy thereof and shall be entitled to rely entirely on the relevant Seller and its agents.
Rights of the Purchaser. If any of the conditions for the exclusive benefit of the Purchaser as set forth in Section 10.1 shall not have been fulfilled at or prior to the Closing Time, the Purchaser shall be entitled, by notice to the Vendors prior to the time of completion of the Closing:
10.3.1 to terminate their obligations hereunder and this Agreement effective as of the time of such notice; or
10.3.2 to proceed with the Closing as contemplated by Article 11. If no such notice is given prior to the completion of the Closing, the Purchaser shall be deemed to have elected to proceed with the Closing as contemplated by Article 11.
Rights of the Purchaser. Each Originator hereby authorizes the Purchaser and the Servicer (if other than such Originator) to take any and all steps in such Originator’s name necessary or desirable, in their respective determination, to collect all amounts due under any and all Receivables originated by such Originator, including, without limitation, endorsing such Originator’s name on checks and other instruments representing Collections and enforcing such Receivables, the invoices and the provisions of the related Contracts that concern payment and/or enforcement of rights to payment.
Rights of the Purchaser. In addition to the other rights of the Purchaser which are recorded in this Contract, it is acknowledged that :
17.1 The Purchaser is entitled to choose the official language in which the Contract is to be drawn up. The Purchaser confirms having chosen English.
17.2 The Purchaser is entitled to perform the obligations of the Owner of the Property or of an intermediary in terms of Section 11 of the ALA; EXAMPLE DOCUMENT
17.3 The Purchaser is entitled to receive a free copy of this Contract within thirty (30) days of the Date of Signature. If the Seller fails to deliver a copy after receiving fourteen (14) days written notice by registered post to furnish the Purchaser with a copy, the Purchaser shall not be liable for the payment of interest in terms of this Contract until such time as the Purchaser receives a copy of the Contract from the Seller;
17.4 If the Property is encumbered by a mortgage bond or bonds, the Purchaser is entitled to receive from the Seller, within thirty (30) days of the Date of Signature, a Certificate by the mortgagee or mortgagees drawn in accordance with the provisions of Section 7 of the ALA. The Purchaser acknowledges having received the Certificate.
17.5 If the Seller is an intermediary, the Seller shall, within thirty (30) days of the Date of Signature, forward to the Purchaser a Certificate prepared by the Owner of the Property in compliance with the provisions of Section 8 of the ALA.
17.6 The Purchaser at any time and on payment of the prescribed fee may require a mortgagee to furnish the Purchaser with a certificate in terms of section 9(3) of the ALA, which records the amount of the Seller's indebtedness to the mortgagee.
Rights of the Purchaser. The Seller hereby authorizes the Purchaser, the Collateral Manager, the Trustee and/or their respective designees or assignees to take any and all steps in Seller’s name and on behalf of the Seller that the Purchaser, the Collateral Manager, the Trustee and/or their respective designees or assignees determine are necessary or appropriate to collect all amounts due under any and all Sale Portfolio and to enforce or protect the Purchaser’s and the Trustee’s rights under this Agreement, including endorsing the name of the Seller on checks and other instruments representing Interest Proceeds and Principal Proceeds and enforcing such Sale Portfolio.
Rights of the Purchaser. (a) At any time upon at least [***] prior notice to the Seller Agent, the Purchaser may, in its sole and absolute discretion deliver to any Approved Debtor the Debtor Notification.
(b) Each Seller hereby authorizes the Purchaser to take, at any time on or after the occurrence of a Purchaser Action Event, any and all steps in such Seller’s name and on behalf of such Seller that are necessary or desirable, in the determination of the Purchaser, to collect amounts due under all Purchased Debts, including, without limitation, endorsing such Seller’s name on checks and other instruments representing Remittances and enforcing such Debts and the Related Security and related Contracts of Sale; provided, however, that the Purchaser agrees to act in accordance with all applicable laws in taking such steps.
(c) At any time on or after the occurrence of a Purchaser Action Event, the Purchaser may direct the Seller Agent and each Seller to, at their respective sole expense, segregate all cash, checks and other instruments received by it from time to time constituting Remittances in a manner acceptable to the Purchaser and, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Purchaser or its designee.
Rights of the Purchaser. In addition to the other rights of the PURCHASER which are recorded in this agreement, it is acknowledged that:
6.1 The PURCHASER is entitled to choose the official language in which this agreement is to be drawn up. The PURCHASER confirms having chosen English.
6.2 The PURCHASER is entitled to perform the obligations of the owner of the PROPERTY in terms of Section 11 of the Alienation of Land Act.
6.3 The PURCHASER is entitled to receive a free copy of this agreement within 30 (thirty) days from the Date of Signature.
6.4 As the PROPERTY is encumbered by a mortgage bond, the PURCHASER is entitled to receive from the SELLER, within 30 (thirty) days from the Date of Signature, a Certificate by the mortgagee drawn in accordance with the provisions of Section 7 of the Alienation of Land Act. The PURCHASER acknowledges having received the Certificate by virtue of the settlement letter attached hereto, as envisaged by clause 3.3 above.
6.5 The PURCHASER may at any time and on payment of the prescribed fee require a mortgagee to furnish the PURCHASER with a certificate in terms of section 9(3) of the Alienation of Land Act, which records the amount of the SELLER's indebtedness to the mortgagee. The parties record that this provision does not apply in this instance, as the release amount recorded in the attached settlement letter shall not be amended or changed at any time during the currency of this agreement.
6.6 In terms of Section 9 of the Alienation of Land Act and at the PURCHASER’s cost, the PURCHASER shall forthwith notify the mortgagee of the conclusion of this agreement, of the Purchaser's domicilium address and such other particulars as the mortgagee reasonably may require.
Rights of the Purchaser. Each Originator hereby authorizes the Purchaser or the Servicer or their respective designees or assignees under the Receivables Financing Agreement (including, without limitation, any Agent) to take, subject to the terms of the Receivables Financing Agreement and any applicable regulatory restrictions, any and all steps in such Originator’s name necessary or desirable, in their respective determination, to collect all amounts due under any and all Receivables sold or otherwise conveyed or purported to be conveyed by it hereunder, including, without limitation, endorsing the name of such Originator on cheques and other instruments representing Collections and enforcing such Receivables and the provisions of the related Contracts that concern payment and/or enforcement of rights to payment.
Rights of the Purchaser. Seller hereby authorizes the Purchaser or its designees or assignees to take any and all steps in Seller’s name necessary or desirable, in their respective determination, to collect all amounts due under any and all Transferred Receivables and Related Security, including, without limitation, endorsing Seller’s name on checks and other instruments representing Collections and enforcing such Transferred Receivables and Related Security and the provisions of the related Contracts that concern payment and/or enforcement of rights to payment.
