Common use of Separate Business Clause in Contracts

Separate Business. CAC shall not: (i) fail to maintain separate books, financial statements, accounting records and other corporate documents from those of Funding; (ii) commingle any of its assets or the assets of any of its Affiliates with those of Funding (except to the extent that CAC acts as the Servicer of the Loans); (iii) pay from its own assets any obligation or indebtedness of any kind incurred by Funding (or the Trust); and (iv) directly, or through any of its Affiliates, borrow funds or accept credit or guaranties from Funding.

Appears in 35 contracts

Samples: Sale and Contribution Agreement (Credit Acceptance Corp), Sale and Contribution Agreement (Credit Acceptance Corp), Sale and Contribution Agreement (Credit Acceptance Corp)

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Separate Business. CAC shall will not: (i) fail to maintain separate books, financial statements, accounting records and other corporate documents from those of Funding; (ii) commingle any of its assets or the assets of any of its Affiliates with those of Funding (except to the extent that CAC acts as the Servicer of the Loans); (iii) pay from its own assets any obligation or indebtedness of any kind incurred by Funding (or the Trust)Funding; and (iv) directly, or through any of its Affiliates, borrow funds or accept credit or guaranties from Funding.

Appears in 9 contracts

Samples: Sale and Contribution Agreement (Credit Acceptance Corp), Sale and Contribution Agreement (Credit Acceptance Corp), Sale and Contribution Agreement (Credit Acceptance Corp)

Separate Business. CAC shall will not: (i) fail to maintain separate books, financial statements, accounting records and other corporate documents from those of Funding; (ii) commingle any of its assets or the assets of any of its Affiliates with those of Funding (except to the extent that CAC acts as the Servicer of the Loans); (iii) pay from its own assets any obligation or indebtedness of any kind incurred by Funding (Funding; or the Trust); and (iv) directly, or through any of its Affiliates, borrow funds or accept credit or guaranties from Funding.

Appears in 3 contracts

Samples: Sale and Contribution Agreement (Credit Acceptance Corp), Sale and Contribution Agreement (Credit Acceptance Corp), Fourth Amended and Restated Sale and Contribution Agreement (Credit Acceptance Corp)

Separate Business. CAC shall will not: (i) fail to maintain separate books, financial statements, accounting records and other corporate documents from those of Funding; (ii) commingle any of its assets or the assets of any of its Affiliates with those of Funding (except to the extent that CAC acts as the Servicer of the LoansLoans in accordance with the terms of the Loan and Security Agreement); (iii) pay from its own assets any obligation or indebtedness of any kind incurred by Funding (or the Trust)Funding; and (iv) directly, or through any of its Affiliates, borrow funds or accept credit or guaranties from Funding.

Appears in 3 contracts

Samples: Contribution Agreement (Credit Acceptance Corp), Contribution Agreement (Credit Acceptance Corp), Contribution Agreement (Credit Acceptance Corp)

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Separate Business. CAC shall will not: (i) fail to maintain separate books, financial statements, accounting records and other corporate documents from those of Funding; (ii) commingle any of its assets or the assets of any of its Affiliates with those of Funding (except to the extent that CAC acts as the Servicer of the Loans)Funding; (iii) pay from its own assets any obligation or indebtedness of any kind incurred by Funding (or the Trust)Funding; and (iv) directly, or through any of its Affiliates, borrow funds or accept credit or guaranties from Funding.

Appears in 2 contracts

Samples: Contribution Agreement (Credit Acceptance Corporation), Contribution Agreement (Credit Acceptance Corporation)

Separate Business. CAC shall will not: (i) fail to maintain separate books, financial statements, accounting records and other corporate documents from those of Funding; (ii) commingle any of its assets or the assets of any of its Affiliates with those of Funding (except to the extent that CAC acts as the Servicer of the LoansLoans in accordance with the terms of the Loan and Security Agreement); (iii) pay from its own assets any obligation or indebtedness of any kind incurred by Funding (Funding; or the Trust); and (iv) directly, or through any of its Affiliates, borrow funds or accept credit or guaranties from Funding.

Appears in 2 contracts

Samples: Contribution Agreement (Credit Acceptance Corp), Contribution Agreement (Credit Acceptance Corp)

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