Common use of Sales of Charged Off Receivables Clause in Contracts

Sales of Charged Off Receivables. The Servicer, in its sole discretion, may sell a Receivable that has been charged off in accordance with the Credit and Collection Policy. Proceeds of any such sale allocable to the Receivable will constitute Recoveries. If the Servicer elects to sell any charged off Receivable, such Receivable will be deemed to have been sold and assigned by the Issuer to the Servicer immediately prior to the sale by the Servicer. The sole right of the Issuer and the Indenture Trustee with respect to any Receivables sold pursuant to this Section 3.3 will be to receive the Recoveries. Upon such sale, the Servicer will xxxx its receivables systems indicating that any such receivable sold is no longer a Receivable and take any action necessary or appropriate to evidence the sale of the receivable free from any Lien of the Issuer or the Indenture Trustee.

Sales of Charged Off Receivables. The Servicer, in its sole discretion, may sell a Receivable that has been charged off in accordance with the Credit and Collection Policy. Proceeds of any such sale allocable to the Receivable will constitute Recoveries. If the Servicer elects to sell any charged off Receivable, such the Receivable will be deemed to have been sold and assigned by the Issuer to the Servicer immediately prior to the sale by the Servicer. The sole right of the Issuer and the Indenture Trustee with respect to for any Receivables sold pursuant to under this Section 3.3 will be to receive the Recoveries. Upon such the sale, the Servicer will xxxx its receivables systems indicating that any such receivable sold is no longer a Receivable and take any action necessary or appropriate to evidence the sale of the receivable free from any Lien of the Issuer or the Indenture Trustee.

Sales of Charged Off Receivables. The Servicer, in its sole discretion, may sell a Receivable that has been charged off in accordance with the Credit and Collection Policy. Proceeds of any such sale allocable to the Receivable will constitute Recoveries. If the Servicer elects to sell any charged off Receivable, such Receivable will be deemed to have been sold and assigned by the Issuer Trust to the Servicer immediately prior to the sale by the Servicer. The sole right of the Issuer and the Indenture Trustee with respect to any Receivables sold pursuant to this Section 3.3 will be to receive the Recoveries. Upon such sale, the Servicer will xxxx its receivables systems computer records indicating that any such receivable sold is no longer a Receivable and take any action necessary or appropriate to evidence the sale of the receivable free from any Lien of the Issuer or the Indenture Trustee.

Sales of Charged Off Receivables. The Servicer, in its sole discretion, may sell a Receivable that has been charged off in accordance with the Credit and Collection Policy. Proceeds of any such sale allocable to the Receivable will constitute Recoveries. If the Servicer elects to sell any charged off Receivable, such Receivable will be deemed to have been sold and assigned by the Issuer to the Servicer immediately prior to the sale by the Servicer. The sole right of the Issuer and the Indenture Trustee with respect to any Receivables sold pursuant to this Section 3.3 will be to receive the Recoveries. Upon such sale, the Servicer will xxxx its receivables systems computer records indicating that any such receivable sold is no longer a Receivable and take any action necessary or appropriate to evidence the sale of the receivable free from any Lien of the Issuer or the Indenture Trustee.

Sales of Charged Off Receivables. The Servicer, in its sole discretion, may sell a Receivable that has been charged off in accordance with the Credit and Collection Policy. Proceeds of any such sale allocable to the Receivable will constitute Recoveries. If the Servicer elects to sell any charged off Receivable, such Receivable will be deemed to have been sold and assigned by the Issuer Trust to the Servicer immediately prior to the sale by the Servicer. The sole right of the Issuer and the Indenture Trustee with respect to any Receivables sold pursuant to this Section 3.3 will be to receive the Recoveries. Upon such sale, the Servicer will xxxx mxxx its receivables systems computer records indicating that any such receivable sold is no longer a Receivable and take any action necessary or appropriate to evidence the sale of the receivable free from any Lien of the Issuer or the Indenture Trustee.

Sales of Charged Off Receivables. The Servicer, in its sole discretion, may sell a Receivable that has been charged off in accordance with the Credit and Collection Policy. Proceeds of any such sale allocable to the Receivable will constitute Recoveries. If the Servicer elects to sell any charged off Receivable, such Receivable will be deemed to have been sold and assigned by the Issuer to the Servicer immediately prior to the sale by the Servicer. The sole right of the Issuer and the Indenture Trustee with respect to any Receivables sold pursuant to this Section 3.3 will be to receive the Recoveries. Upon such sale, the Servicer will xxxx mxxx its receivables systems computer records indicating that any such receivable sold is no longer a Receivable and take any action necessary or appropriate to evidence the sale of the receivable free from any Lien of the Issuer or the Indenture Trustee.