Sale and Purchase of Receivables. (a) On each Purchase Date, the Seller shall sell to the Buyer without recourse, and the Buyer shall purchase from the Seller, all right, title and interest of the Seller in, to and under all Receivables that (i) were created during the immediately preceding Monthly Period and were not previously sold to the Buyer on the preceding Purchase Date and (ii) all Receivables created and to be created during the Monthly Stub Period (the “Monthly Stub Period Receivables”) for the calendar month in which such Purchase Date occurs (such Receivables being sold hereinafter called “New Receivables”).
Appears in 4 contracts
Samples: Agreement for Sale and Purchase (American Express Credit Corp), Agreement for Sale and Purchase (American Express Credit Corp), Amended and Restated Agreement for Sale and Purchase (American Express Credit Corp)
