Vesting of Ownership. (i) Effective on and as of each Purchase Date, the Purchasers shall own the Purchaser Interests sold by the Seller hereunder on such Purchase Date. The Seller shall not take any action inconsistent with such ownership and shall not claim any ownership interest in such Purchaser Interests. Each Purchaser hereby appoints the Purchaser Agent as its agent for purposes of perfecting its ownership interest in the Purchaser Interests.
(ii) The Seller shall indicate in its Records that interests in the Transferred Receivables have been sold hereunder and that ownership of such interests is vested in the Purchaser Agent on behalf of the Purchasers. In addition, the Seller shall respond to any inquiries with respect to the ownership of any Transferred Receivable by stating that interests therein have been sold hereunder and that ownership of such interests is vested in the Purchasers. The Seller and the Servicer shall hold all Contracts and other documents relating to such Transferred Receivables in trust for the benefit of the Purchaser Agent on behalf of the Purchasers, and for the sole purpose of facilitating the servicing of such Transferred Receivables. The Seller hereby acknowledges that its retention and possession of such Contracts and documents shall at all times be at the sole discretion of the Purchaser Agent and in a custodial capacity for the Purchaser Agent’s (on behalf of the Purchasers) benefit only.
Vesting of Ownership. Upon formal final acceptance of the work by CITY and recordation of the Resolution of Acceptance of Public Improvements, ownership of the improvements constructed pursuant to this Agreement shall vest in CITY.
Vesting of Ownership. Upon recordation of the Notice of Acceptance, ownership of the Works of Improvement shall vest in the City.
Vesting of Ownership. The Parties must co-operate with each other Party and promptly do all acts and things and execute all documents which may be necessary for the purpose of vesting ownership of the legal and beneficial interest in the Centre IP as required under this agreement.
Vesting of Ownership. (i) Effective on and as of each Purchase Date (A) prior to the occurrence of the Committed Purchaser Funding Event, the Conduit Purchaser shall own the Purchaser Interests sold by the Seller hereunder on such Purchase Date, and (B) on and after the occurrence of the Committed Purchaser Funding Event, the Committed Purchaser shall own the Purchaser Interests sold by the Seller hereunder on such Purchase Date. The Seller shall not take any action inconsistent with such ownership and shall not claim any ownership interest in such Purchaser Interests.
(ii) The Seller shall indicate in its Records that interests in the Transferred Receivables have been sold hereunder and that ownership of such interests is vested in the Administrative Agent on behalf of the Purchasers. In addition, the Seller shall respond to any inquiries with respect to the ownership of any Transferred Receivable by stating that interests therein have been sold hereunder and that ownership of such interests is vested in the Purchasers. The Seller and the Servicer shall hold all Invoices and other documents and incidents (other than Contracts) relating to such Transferred Receivables in trust for the benefit of the Administrative Agent on behalf of the Conduit Purchaser and the Committed Purchaser, as the owner thereof, and for the sole purpose of facilitating the servicing of such Transferred Receivables. The Seller and the Servicer hereby acknowledge that their retention and possession of such Invoices and documents shall at all times be at the sole discretion of the Administrative Agent and in a custodial capacity for the Administrative Agent's benefit (on behalf of the Purchasers) only.
Vesting of Ownership. (i) Effective on and as of each Purchase Date, the Purchasers shall own the Purchaser Interests sold by MRFC hereunder on such Purchase Date. MRFC shall not take any action inconsistent with such ownership and shall not claim any ownership interest in such Purchaser Interests.
(ii) MRFC shall indicate in its Records that interests in the Transferred Receivables have been sold hereunder and that ownership of such interests is vested in the Administrative Agent on behalf of the Purchasers. In addition, MRFC shall respond to any inquiries with respect to the ownership of any Transferred Receivable (to the extent that it is obligated to respond) by stating that interests therein have been sold hereunder and that ownership of such interests is vested in the Purchasers. MRFC and the Master Servicer shall hold all Contracts and other documents relating to such Transferred Receivables in trust for the benefit of the Administrative Agent on behalf of the Purchasers, as the owner thereof, and for the sole purpose of facilitating the servicing of such Transferred Receivables. MRFC and the Master Servicer each hereby acknowledge that its retention and possession of such Contracts and documents shall at all times be at the sole discretion of the Administrative Agent and in a custodial capacity for the Administrative Agent’s (on behalf of the Purchasers) benefit only.
Vesting of Ownership. 4 (d) Repurchases of Transferred Receivables................................. 4 Section 2.05. Facility Termination Date.............................................. 5 Section 2.06.
Vesting of Ownership. (i) Effective on and as of each Purchase Date on which a Swing Line Purchase is made, the Swing Line Purchaser shall own all Transferred Receivables sold by the Seller hereunder on such Purchase Date. The Seller shall not take any action inconsistent with such ownership and shall not claim any ownership interest in such Transferred Receivables.
(ii) (i) Effective on and as of each Purchase Date (A) prior to the occurrence of the Committed Purchaser Funding Event, the ConduitEffective on and as of each Purchase Date on which a Capital Purchase is made and each date on which a Settlement Purchase is made, each Purchaser Agent shall own all Transferred Receivables sold by the Seller or the Swing Line Purchaser, as the case may be, hereunder on such Purchase Date, and (B) on and after for the occurrencebenefit of the Committed Purchasers in such Purchaser Funding Event, the CommittedAgent’s related Purchaser shall own all Transferred Receivables sold by the Seller hereunder on such Purchase DateGroup. The Seller shall not take any action inconsistent with such ownership and shall not claim any ownership interest in such Transferred Receivables.
Vesting of Ownership. (i) Effective on and as of each Purchase Date, the Administrative Agent on behalf of the Purchaser shall own the Purchaser Interests sold by the Seller hereunder on such Purchase Date. The Seller shall not take any action inconsistent with such ownership and shall not claim any ownership interest in the Purchaser Interests.
(ii) The Seller shall indicate in its Records that interests in the Transferred Receivables and the Related Security have been sold hereunder and that ownership of such interests is vested in the Administrative Agent on behalf of the Purchaser. In addition, the Seller shall respond to any inquiries with respect to the ownership of any Transferred Receivable or the Related Security by stating that interests therein have been sold hereunder and that ownership of such interests is vested in the Administrative Agent for the benefit of the Purchaser. The Seller and the Master Servicer shall hold all Contracts and other documents and incidents relating to such Transferred Receivables and the Related Security in trust for the benefit of the Administrative Agent on behalf of the Purchaser, as the owner thereof, and for the sole purpose of facilitating the servicing of such Transferred Receivables. The Seller and the Master Servicer hereby acknowledge that their retention and possession of such Contracts and documents shall at all times be at the sole discretion of the Administrative Agent and in a custodial capacity for the Administrative Agent's (on behalf of the Purchaser) benefit only.
A. M.Castle & Co. et al. and Castle SPFD, LLC, Receivables Purchase and Servicing Agreement
Vesting of Ownership. (i) Effective on and as of each Purchase Date, the Applicable Purchasers shall own (ratably, in accordance with their respective Capital Investments) the Purchaser Interests sold by the Seller hereunder on such Purchase Date. The Seller shall not take any action inconsistent with such ownership and shall not claim any ownership interests in such Purchaser Interests.
(ii) The Seller shall indicate in its Records that interests in the Transferred Receivables have been sold hereunder and that ownership of such interests is vested in the Administrative Agent on behalf of the Purchasers to the extent of the Purchaser Interests. In addition, the Seller shall respond to any inquiries with respect to the ownership of any Transferred Receivable by stating that interests therein have been sold hereunder and that ownership of such interests is vested in the Purchasers to the extent of the Purchaser Interests.
