True Sale for All Purposes Sample Clauses

True Sale for All Purposes. A. It is the further stated intent of the Parties, and of each and every one of their respective officers, directors, managers, partners, members and owners, that all purchases of Purchased Receivables by Payplant result in True Sales of such Receivables for all purposes, including permitting Payplant (i) to carry the Receivable as a financial asset on Payplant’s books and records, (ii) to grant a Security Interest in the Receivable in favor of Payplant’s creditors, and (iii) to resell the Receivable to a Subsequent Buyer, only with Client’s written permission, which the Client cannot unreasonably withhold.
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