Sale of Defaulted Receivables to Third-Party Purchasers. The Servicer, or the applicable Subservicer, may recover on Defaulted Receivables by selling them to third-party purchasers. The purchase price that is paid for any Defaulted Receivable by a third-party purchaser will be a Recovery that must be remitted to the Trustee. By executing this Agreement and without any further action, each Transferor releases all of its right, title, and interest in, to, and under any Defaulted Receivable that is sold to a third-party purchaser upon the full and irrevocable payment of the related purchase price.
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Samples: Defaulted Receivables Supplemental Servicing Agreement (American Express Credit Account Master Trust), Supplemental Servicing Agreement (American Express Receivables Financing Corp Ii)
Sale of Defaulted Receivables to Third-Party Purchasers. The Servicer, or the applicable Subservicer, may recover on Defaulted Receivables by selling them to third-party purchasers. The purchase price that is paid for any Defaulted Receivable by a third-party purchaser will be a Recovery that must be remitted to the Indenture Trustee. By executing this Agreement and without any further action, each the Transferor releases all of its right, title, and interest in, to, and under any Defaulted Receivable that is sold to a third-party purchaser upon the full and irrevocable payment of the related purchase price.
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Samples: Supplemental Servicing Agreement (American Express Receivables Financing Corp VIII LLC)
Sale of Defaulted Receivables to Third-Party Purchasers. The Servicer, or the applicable Subservicer, may recover on Defaulted Receivables by selling them to third-party purchasers. The purchase price that is paid for any Defaulted Receivable by a third-party purchaser will be a Recovery that must be remitted to the Indenture Trustee. By executing this Agreement and without any further action, each the Transferor releases all of its right, title, and interest in, to, and under any Defaulted Receivable that is sold to a third-party purchaser upon the full and irrevocable payment of the related purchase price.
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Sale of Defaulted Receivables to Third-Party Purchasers. The Servicer, or the applicable Subservicer, may recover on Defaulted Receivables by selling them to third-party purchasers. The purchase price that is paid for any Defaulted Receivable by a third-party purchaser will be a Recovery that must be remitted to the Trustee. By executing this Agreement and without any further action, each the Transferor releases all of its right, title, and interest in, to, and under any Defaulted Receivable that is sold to a third-party purchaser upon the full and irrevocable payment of the related purchase price.
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