Valid Business Reasons; No Fraudulent Transfers. The Transferor has valid business reasons for assigning the Receivables rather than obtaining a secured loan with the Receivables as collateral. At the time of the assignment: (A) the Transferor absolutely assigned the Receivables to the Purchaser without any intent to hinder, delay, or defraud any current or future creditor of the Transferor; (B) the Transferor was not insolvent or did not become insolvent as a result of the assignment; (C) the Transferor was not engaged and was not about to engage in any business or transaction for which any property remaining with the Transferor was an unreasonably small capital or for which the remaining assets of the Transferor were unreasonably small in relation to the business of the Transferor or the transaction; (D) the Transferor did not intend to incur, and did not believe or reasonably should not have believed that it would incur, debts beyond its ability to pay as they become due; and (E) the consideration paid by the Purchaser to the Transferor for the Receivables absolutely assigned by the Transferor hereunder was equivalent to a fair market value of such Receivables under the circumstances of the transaction, including but not limited to, timing of such assignment.
Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by this Indenture are in the ordinary course of the Issuer’s business and the Issuer has valid business reasons for granting the Indenture Trust Estate pursuant to this Indenture. At the time of each such grant: (i) the Issuer granted the Indenture Trust Estate to the Indenture Trustee without any intent to hinder, delay, or defraud any current or future creditor of the Issuer;
Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by this Indenture are in the ordinary course of the Issuer's business and the Issuer has valid business reasons for granting the Indenture Trust Estate pursuant to this Indenture. At the time of each such Grant: (i) the Issuer granted the Indenture Trust Estate to the Indenture Trustee without any intent to hinder, delay, or defraud any current or future creditor of the Issuer; (ii) the Issuer was not insolvent and did not become insolvent as a result of any such Grant; (iii) the Issuer was not engaged and was not about to engage in any business or transaction for which any property remaining with such entity was an unreasonably small capital or for which the remaining assets of such entity are unreasonably small in relation to the business of such entity or the transaction; (iv) the Issuer did not intend to incur, and did not believe or should not have reasonably believed, that it would incur, debts beyond its ability to pay as they become due; and (v) the consideration paid received by the Issuer for the Grant of the Indenture Trust Estate was reasonably equivalent to the value of the related Grant.
Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by this Indenture are in the ordinary course of the Issuer’s business and the Issuer has valid business reasons for granting the Indenture Trust Estate pursuant to this Indenture. At the time of each such grant: (i) the Issuer granted the Indenture Trust Estate to the Indenture Trustee without any intent to hinder, delay, or defraud any current or future creditor of the Issuer; (ii) the Issuer was not insolvent and did not become insolvent as a result of any such grant; (iii) the Issuer was not engaged and was not about to engage in any business or transaction for which any property remaining with such entity was an unreasonably small capital or for which the remaining assets of such entity are unreasonably small in relation to the business of such entity or the transaction; (iv) the Issuer did not intend to incur, and did not believe or should not have reasonably believed, that it would incur, debts beyond its ability to pay as they become due; and (v) the consideration paid received by the Issuer for the grant of the Indenture Trust Estate was reasonably equivalent to the value of the related grant.
Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by the Sale and Assignment Agreement are in the ordinary course of the Originator's business and the Originator has valid business reasons for selling the related Conveyed Property rather than obtaining a secured loan with the Conveyed Property as collateral. At the time of each Sale: (i) the Originator Sold the related Conveyed Property to FPF without any intent to hinder, delay, or defraud any current or future creditor of the Originator; (ii) the Originator was not insolvent or did not become insolvent as a result of any Sale; (iii) the Originator was not engaged and was not about to engage in any business or transaction for which any property remaining with the Originator would constitute unreasonably small capital or for which the remaining assets of the Originator are unreasonably small in relation to the business of the Originator or the transaction; (iv) the Originator did not intend to incur, and did not believe or reasonably should not have believed, that it would incur, debts beyond its ability to pay as they become due; and (v) the consideration paid by FPF to the Originator for the related Conveyed Property was equivalent to the fair market value of such related Conveyed Property.
Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by this Indenture are in the ordinary course of the Issuer’s business and the Issuer has valid business reasons for granting the Trust Estate pursuant to this Indenture. At the time of each such grant: (A) the Issuer granted the Trust Estate to the Indenture Trustee without any intent to hinder, delay, or defraud any current or future creditor of the Issuer; (B) the Issuer was not insolvent and did not become insolvent as a result of any such grant; (C) the Issuer was not engaged and was not about to engage in any business or transaction for which any property remaining with it was an unreasonably small capital or for which the remaining assets of it are unreasonably small in relation to its business or the transaction;
Valid Business Reasons; No Fraudulent Transfers. The transactions contemplated by the Sale and Assignment Agreement are in the ordinary course of FPF's business and FPF has valid business reasons for acquiring the related Conveyed Property rather than participating in a secured loan with the related Conveyed Property as collateral. At the time of each Sale: (i) FPF acquired the related Conveyed Property from the Originator, without any intent to hinder, delay or defraud any current or future creditor of the Originator; (ii) FPF was not insolvent or did not become insolvent as a result of any transfer; (iii) FPF was not engaged and was not about to engage in any business or transaction for which any property remaining with FPF was an unreasonably small capital or for which the remaining assets of FPF are unreasonably small in relation to the business of FPF or the transaction; (iv) FPF did not intend to incur, and did not believe or reasonably should not have believed, that it would incur, debts beyond its ability to pay as they become due; and (v) the consideration paid by FPF to the Originator for the related Conveyed Property was equivalent to the fair market value of such related Conveyed Property.
Valid Business Reasons; No Fraudulent Transfers. The Originator has valid business reasons to acquire and pledge, transfer, assign and otherwise convey the Receivables rather than to obtain a secured loan with the Receivables as collateral and has undertaken the transaction contemplated herein as principal rather than as agent of any other person. At the time of the transfer: (i) the Originator transferred the Receivables to the Depositor without any intent to hinder, delay, or defraud any current or future creditor of the Originator; (ii) the Originator was not insolvent or did not become insolvent as a result of the transfer; (iii) the Originator was not engaged and was not about to engage in any business or transaction for which any property remaining with the Originator was an unreasonably small capital or for which the remaining assets of the Originator were unreasonably small in relation
Valid Business Reasons; No Fraudulent Transfers. The Originator has valid business reasons to acquire and pledge, transfer, assign and otherwise convey the Receivables rather than to obtain a secured loan with the Receivables as collateral and has undertaken the transaction contemplated herein as principal rather than as agent of any other person. At the time of the transfer: (i) the Originator transferred the Receivables to the Depositor without any intent to hinder, delay, or defraud any current or future creditor of the Originator; (ii) the Originator was not insolvent or did not become insolvent as a result of the transfer; (iii) the Originator was not engaged and was not about to engage in any business or transaction for which any property remaining with the Originator was an unreasonably small capital or for which the remaining assets of the Originator were unreasonably small in relation to the business of the Originator or the transaction; (iv) the Originator did not intend to incur, and did not believe or reasonably should not have believed that it would incur, debts beyond its ability to pay as they become due; and (v) the consideration paid by the Depositor to the Originator for the Receivables was equivalent to the fair market value of such Receivables.
Valid Business Reasons; No Fraudulent Transfers. The Seller has valid business reasons for contributing the Receivables rather than obtaining a secured loan with the Receivables as collateral. At the time of the transfer: (A) the Seller contributed the Receivables to the Owner Trustee without any intent to hinder, delay, or defraud any current or future creditor of the Seller; (B) the Seller was not insolvent or did not become insolvent as a result of the transfer; (C) the Seller was not engaged and was not about to engage in any business or transaction for which any property remaining with the Seller was an unreasonably small capital or for which the remaining assets of the Seller were unreasonably small in relation to the business of the Seller or the transaction;
