Common use of Transfer of Receivables Clause in Contracts

Transfer of Receivables. The transfer of Receivables in connection with any Transfer shall occur in the following manner: (i) Custodian shall, promptly upon receiving a Transfer Certificate relating to the transfer of Receivables pursuant to a Transfer: (a) determine whether each document in the Receivables File listed in Section 2.04 of the Purchase Agreement and Section 3.03 of the Sale and Servicing Agreement with respect to each Receivable listed on the Receivable Schedule has been delivered to Custodian, and whether Custodian is able to deliver a Custodian Certification; (b) promptly advise the applicable Receivables Holder, the Indenture Trustee, the Originator, the Seller and each of the Rating Agencies by telephone or by facsimile transmission if it determines that any document referred to in (a) above has not been so delivered and take no further action under this SECTION 4.1 until it determines that such documents have been so delivered; (c) upon determining that such documents have been so delivered, Custodian shall issue and deliver to applicable Receivables Holder the Custodian Certification in accordance with SECTIONS 3.1 and 3.2 of this Agreement; and (ii) Custodian shall hold the Receivables Files for each Receivables Holder subject to satisfaction of the conditions precedent with respect to the applicable Transfer.

Transfer of Receivables. The transfer of Receivables in connection with any Transfer shall occur in the following manner: (i) Custodian shall, promptly upon receiving a Transfer Certificate relating to the transfer of Receivables pursuant to a Transfer: (a) determine whether each document in the Receivables File listed in Section 2.04 of the Purchase Agreement and Section 3.03 of the Sale and Servicing Agreement with respect to each Receivable listed on the Receivable Schedule has been delivered to Custodian, and whether Custodian is able to deliver a Custodian Certification; (b) promptly advise the applicable Receivables Holder, the Indenture Trustee, the Originator, the Seller and each of the Rating Agencies by telephone or by facsimile transmission if it determines that any document referred to in (a) above has not been so delivered and take no further action under this SECTION Section 4.1 until it determines that such documents have been so delivered;; and (c) upon determining that such documents have been so delivered, Custodian shall issue and deliver to applicable Receivables Holder the Custodian Certification in accordance with SECTIONS Sections 3.1 and 3.2 of this Agreement; and (ii) Custodian shall hold the Receivables Files for each Receivables Holder subject to satisfaction of the conditions precedent with respect to the applicable Transfer.

Transfer of Receivables. The transfer delivery of Receivables in connection with any Transfer shall occur in the following manner: (i) Custodian shall, promptly upon receiving Upon receipt of a Transfer Certificate relating Certificate, Custodian shall deliver a Custodian Certification certifying that it is holding the Receivable Files delivered to it on behalf of the transfer transferee referred to in such Transfer Certificate; (ii) Custodian shall within 15 days of Receivables pursuant to a Transferits receipt of the delivery of the Receivable Files: (a) determine whether each document in the Receivables Receivable File listed in Section 2.04 of the Purchase Agreement and Section 3.03 of the Sale and Servicing Agreement with respect to each Receivable listed on the Receivable Schedule of Receivables has been delivered to Custodian, and whether Custodian is able to deliver a Custodian CertificationCertification certifying that it is in possession of each Receivable File; (b) promptly advise the applicable Receivables Holder, the Indenture Trustee, the Originator, the Seller Servicer, the Depositor and each of the Rating Agencies by telephone or by facsimile transmission if it determines that any document Receivable File referred to in clause (a) above has not been so delivered and take no further action under this SECTION Section 4.1 until it determines that such documents have Receivable File has been so delivered;; and (c) upon determining that such documents have Receivable File has been so delivered, Custodian shall issue and deliver to applicable Receivables Holder the a Custodian Certification certifying that it is in accordance with SECTIONS 3.1 and 3.2 possession of this Agreement; and (ii) Custodian shall hold the Receivables Files for each Receivables Holder subject to satisfaction of the conditions precedent with respect to the applicable TransferReceivable File.

Transfer of Receivables. The transfer delivery of Receivables in connection with any Transfer shall occur in the following manner: (i) Custodian shall, promptly upon receiving Upon receipt of a Transfer Certificate relating Certificate, Custodian shall deliver a Custodian Certification certifying that it is holding the Receivable Files delivered to it on behalf of the transfer transferee referred to in such Transfer Certificate; (ii) Custodian shall within fifteen (15) days of Receivables pursuant to a Transferits receipt of the delivery of the Receivable Files: (a) determine whether each document in the Receivables Receivable File listed in Section 2.04 of the Purchase Agreement and Section 3.03 of the Sale and Servicing Agreement with respect to each Receivable listed on the Receivable Schedule of Receivables has been delivered to Custodian, and whether Custodian is able to deliver a Custodian CertificationCertification certifying that it is in possession of each Receivable File; (b) promptly advise the applicable Receivables Holder, the Indenture Trustee, the Originator, the Servicer, the Seller and each of the Rating Agencies by telephone or by facsimile transmission if it determines that any document Receivable File referred to in clause (a) above has not been so delivered and take no further action under this SECTION Section 4.1 until it determines that such documents have Receivable File has been so delivered;; and (c) upon determining that such documents have Receivable File has been so delivered, Custodian shall issue and deliver to applicable Receivables Holder the a Custodian Certification certifying that it is in accordance with SECTIONS 3.1 and 3.2 possession of this Agreement; and (ii) Custodian shall hold the Receivables Files for each Receivables Holder subject to satisfaction of the conditions precedent with respect to the applicable TransferReceivable File.

Transfer of Receivables. The transfer delivery of Receivables in connection with any Transfer shall occur in the following manner: (i) Custodian shall, promptly upon receiving Upon receipt of a Transfer Certificate relating Certificate, Custodian shall deliver a Custodian Certification certifying that it is holding the Receivable Files delivered to it on behalf of the transfer transferee referred to in such Transfer Certificate; (ii) Custodian shall within 15 days of Receivables pursuant to a Transferits receipt of the delivery of the Receivable Files: (a) determine whether each document in the Receivables Receivable File listed in Section 2.04 of the Purchase Agreement and Section 3.03 of the Sale and Servicing Agreement with respect to each Receivable listed on the Receivable Schedule of Receivables has been delivered to Custodian, and whether Custodian is able to deliver a Custodian CertificationCertification certifying that it is in possession of each Receivable File; (b) promptly advise the applicable Receivables Holder, the Indenture Trustee, the Originator, the Servicer, the Seller and each of the Rating Agencies by telephone or by facsimile transmission if it determines that any document Receivable File referred to in clause (a) above has not been so delivered and take no further action under this SECTION Section 4.1 until it determines that such documents have Receivable File has been so delivered;; and (c) upon determining that such documents have Receivable File has been so delivered, Custodian shall issue and deliver to applicable Receivables Holder the a Custodian Certification certifying that it is in accordance with SECTIONS 3.1 and 3.2 possession of this Agreement; and (ii) Custodian shall hold the Receivables Files for each Receivables Holder subject to satisfaction of the conditions precedent with respect to the applicable TransferReceivable File.

Transfer of Receivables. The transfer of Receivables in connection with any Transfer shall occur in the following manner: (i) Custodian shall, promptly upon receiving a Transfer Certificate relating to the transfer of Receivables pursuant to a Transfer: (a) determine whether each document in the Receivables File listed in Section 2.04 of the Purchase Agreement and Section 3.03 of the Sale and Servicing Agreement with respect to each Receivable listed on the Receivable Schedule has been delivered to Custodian, and whether Custodian is able to deliver a Custodian Certification; (b) promptly advise the applicable Receivables Holder, the Indenture Trustee, the Originator, the Seller and each of the Rating Agencies by telephone or by facsimile transmission if it determines that any document referred to in (a) above has not been so delivered and take no further action under this SECTION 4.1 until it determines that such documents have been so delivered; (c) upon determining that such documents have been so delivered, Custodian shall issue and deliver to applicable Receivables Holder the Custodian Certification in accordance with SECTIONS 3.1 and 3.2 of this Agreement; and (iid) Custodian shall hold the Receivables Files for each Receivables Holder subject to satisfaction of the conditions precedent with respect to the applicable Transfer.