Sponsor’s Representations and Warranties About Pool of Receivables Clause Samples
The 'Sponsor’s Representations and Warranties About Pool of Receivables' clause requires the sponsor to affirm certain facts and assurances regarding the quality, validity, and characteristics of the receivables being sold or securitized. Typically, this includes confirming that the receivables are genuine, enforceable, and free from prior claims or encumbrances, and that they meet specified eligibility criteria. By providing these representations and warranties, the clause protects the buyer or investor from undisclosed risks and defects in the receivables, ensuring transparency and allocating responsibility to the sponsor if issues arise.
Sponsor’s Representations and Warranties About Pool of Receivables. The Sponsor makes the following representations and warranties about the pool of Receivables on which the Depositor is relying in purchasing the Purchased Property. The representations and warranties are made as of the Closing Date and will survive the sale and assignment of the Purchased Property by the Sponsor to the Depositor under this Agreement and by the Depositor to the Issuer under the Sale and Servicing Agreement and the pledge of the Purchased Property by the Issuer to the Indenture Trustee under the Indenture.