Common use of True Sales Clause in Contracts

True Sales. Funding Trust II and Funding Trust I intend that the transactions contemplated hereby be true sales of the Receivables and other Receivables Assets by Funding Trust II to Funding Trust I providing Funding Trust I with the full benefits of ownership of the Receivables and other Receivables Assets free and clear of any liens, and neither Funding Trust II nor Funding Trust I intends the transactions contemplated hereby to be, or for any purpose to be characterized as, a loan from Funding Trust I to Funding Trust II. Funding Trust II shall reflect sales of the Receivables Assets hereunder on the books and records maintained by Funding Trust II as sales of assets, and shall treat such sales as sales for all purposes.