Common use of Treatment of Transaction Clause in Contracts

Treatment of Transaction. It has accounted for and prepared financial statement which account for the transactions contemplated hereby as a financing secured by the Purchased Contracts, but it has not in any other respect treated the transactions in the Purchased Contracts by it contemplated hereby in any manner other than as a sale of, or absolute assignment of, its full right, title and ownership interest in, the Purchased Contracts, to Recco.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Onyx Acceptance Corp)

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Treatment of Transaction. It has accounted for and not prepared any financial statement which account accounts for the transactions contemplated hereby as a financing secured by in any manner other than the sale of the Purchased ContractsContracts by it, but and it has not in any other respect accounted for or treated the transactions in the Purchased Contracts by it contemplated hereby (including but not limited to accounting and tax reporting purposes) in any manner other than as a sale of, or absolute assignment of, its full right, title and ownership interest in, the Purchased Contracts, to Recco.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Onyx Acceptance Corp)

Treatment of Transaction. It has accounted for and not prepared any financial statement which account accounts for the transactions contemplated hereby as a financing secured by in any manner other than the sale of the Purchased ContractsContracts by it, but and it has not in any other respect accounted for or treated the transactions in the Purchased Contracts by it contemplated hereby (including, but not limited to, accounting and tax reporting purposes) in any manner other than as a sale of, or absolute assignment of, its full right, title and ownership interest in, the Purchased Contracts, to Recco.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Onyx Acceptance Corp)

Treatment of Transaction. It has accounted for and not prepared any financial statement which account accounts for the transactions contemplated hereby as a financing secured by in any manner other than the sale of the Purchased ContractsContracts by it, but and it has not in any other respect accounted for or treated the transactions in the Purchased Contracts by it contemplated hereby (including but not limited to accounting and tax reporting purposes) in any manner other than as a sale of, or absolute assignment of, its full right, title and ownership interest in, the Purchased Contracts, to ReccoFincx.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Onyx Acceptance Corp)

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Treatment of Transaction. It has accounted for and not prepared any financial statement which account accounts for the transactions contemplated hereby as a financing secured by in any manner other than the sale of the Purchased ContractsContracts by it, but and it has not in any other respect accounted for or treated the transactions in the Purchased Contracts by it contemplated hereby (including but not limited to accounting and tax reporting purposes) in any manner other than as a sale of, or absolute assignment of, its full right, title and ownership interest in, the Purchased Contracts, to ReccoXxxxx.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Onyx Acceptance Corp)

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