Common use of Rights upon the Occurrence of a Bankruptcy Event Clause in Contracts

Rights upon the Occurrence of a Bankruptcy Event. If a Bankruptcy Event occurs with respect to Seller, Seller shall on the day any such event occurs, immediately cease to transfer Receivables to Buyer and shall promptly give notice of such event to the Indenture Trustee and Buyer. Notwithstanding any cessation of the transfer to Buyer of additional Receivables, Receivables transferred to Buyer prior to the occurrence of such Bankruptcy Event, and Collections in respect of such Receivables, shall continue to be property of Buyer.

Rights upon the Occurrence of a Bankruptcy Event. If a Bankruptcy Event occurs with respect to Seller, Seller shall on the day any such event occurs, immediately cease to transfer Receivables to Buyer and shall promptly give notice of such event to the Indenture Trustee and Buyer. Notwithstanding any cessation of the transfer to Buyer of additional Receivables, Receivables transferred to Buyer prior to the occurrence of such Bankruptcy Event, and Collections in respect of such Receivables, shall continue to be property of Buyer.

Rights upon the Occurrence of a Bankruptcy Event. If a Bankruptcy Event occurs with respect to Seller, Seller shall on the day any such event occurs, immediately cease to transfer Receivables to Buyer and shall promptly give notice of such event to the Indenture Trustee and Buyer. Notwithstanding any cessation of the transfer to Buyer of additional Receivables, Receivables transferred to Buyer prior to the occurrence of such Bankruptcy Event, and Collections in respect of such Receivables, shall continue to be property of Buyer.. Receivables Purchase and Contribution Agreement