Common use of Sales Tax Proceeds Clause in Contracts

Sales Tax Proceeds. For the avoidance of doubt, (1) the initial Servicer hereby notifies each of the parties hereto that the Receivables Trust, the R Noteholders, the Depositor, the Seller and the Issuer are each “assignees” of the right to receive the Texas bad debt deduction for all applicable defaults as per Section 151.426(c) of the Texas Tax Code and (2) each of the initial Servicer, the Depositor, the Seller, the Receivables Trust, the Class R Noteholders, the Issuer, and the Retailer of the Merchandise will cooperate to obtain the Texas bad deduction for the assignees.

Sales Tax Proceeds. For the avoidance of doubt, (1) the initial Servicer hereby notifies each of the parties hereto that the Receivables Trust, the R Noteholders, the Depositor, the Seller and the Issuer are each “assignees” of the right to receive the Texas bad debt deduction for all applicable defaults as per Section 151.426(c) of the Texas Tax Code and (2) each of the initial Servicer, the Depositor, the Seller, the Receivables Trust, the Class R Noteholdersnoteholders, the Issuer, and the Retailer retailer of the Merchandise will cooperate to obtain the Texas bad deduction for the assignees.

Sales Tax Proceeds. For the avoidance of doubt, (1) the initial Servicer hereby notifies each of the parties hereto that the Receivables Trust, the R Noteholders, the Depositor, the Seller and the Issuer are each “assignees” of the right to receive the Texas bad debt deduction for all applicable defaults as per Section 151.426(c) of the Texas Tax Code and (2) each of the initial Servicer, the Depositor, the Seller, the Receivables Trust, the Class R Noteholdersnoteholders, the Issuer, and the Retailer of the Merchandise will cooperate to obtain the Texas bad deduction for the assignees.