WITHOUT RECOURSE. This assignment shall be without recourse against Seller except for such obligations as are set forth in the assignment above.
WITHOUT RECOURSE. Seller’s obligation to repurchase is in addition to any other rights and remedies to which Pinnacle is legally entitled. In the event Pinnacle has repossessed or recovered the Financed Vehicle sold under any Contract, which is required to be repurchased by Seller, Pinnacle shall promptly deliver such Financed Vehicle to Seller upon repurchase of the Contract by Seller.
WITHOUT RECOURSE. Assignor further agrees to assign the Agreement without recourse as to the financial ability of the Buyer to pay.
WITHOUT RECOURSE. This assignment is made WITHOUT RECOURSE, except as to the following warranties to-wit: that the said contract is a bona fide one; that said buyer was of legal age and entirely competent when he executed the same; that the property sold is accurately described therein; that said property has been delivered into buyer's possession; that the amount stated in said contract to have been received on the purchase price of said property was actually paid in cash and/or by merchandise received in trade at not more than its then cash value; that seller has the full and complete title to said property subject only to buyer's rights hereunder; that the amount owing upon said contract at the time of its execution is correctly stated therein; that buyer has no counterclaims or set-offs against the same; that there were no representations or warranties made to said buyer not contained in said contract. Should any of the foregoing warranties be false, then seller agrees to purchase on demand from said assignee said contract for the amount of the then unpaid balance on said contract. Should suit or action be instituted on any of the above warranties, seller agrees to pay (1) assignee's reasonable attorney's fees to be fixed by the trial court and (2) on appeal, if any similar fees in the appellate court to be fixed by the appellate court.
WITHOUT RECOURSE. Assignee acknowledges and agrees that Assignor's assignment of the Rights to Assignee shall be without recourse to Assignor and without any representations or warranties of any kind. Assignee further acknowledges and agrees that Assignee is not relying, and will not rely, on Assignor in any manner whatsoever or to any extent with respect to the assignment of the Rights. Assignee specifically acknowledges and agrees that the Companies are insolvent and in default of the Loan Agreement and the Guaranty Agreement and that the Assignor has not made any representation about the accuracy of any financial information concerning the Companies or their assets, the potential or prospects of the business of the Companies or any claims that might be asserted against Assignee by the Companies or any creditor of the Companies.
WITHOUT RECOURSE. The Purchaser acknowledges and agrees that all Accounts Receivable and other rights to payment from customers that will be transferred to the Purchaser pursuant to this Agreement will be transferred without any recourse to any Seller, except (i) as contemplated by Section 1.3 above, (ii) for the Purchaser's rights pursuant to Article VIII hereof (including without limitation with respect to Section 4.19 below) and (iii) for any Retained Liability.
WITHOUT RECOURSE. This Sale Assignment is made without recourse but on the terms and subject to the conditions set forth in the Agreement. The Seller acknowledges and agrees that the Buyer is accepting this Sale Assignment in reliance on the representations, warranties and covenants of the Seller contained in the Agreement.
WITHOUT RECOURSE. 4.1 Except as provided in Articles 4.2 and 4.3 below, once the payment for the purchase of an L/C is made in accordance with Article 1.1 above, the Bank shall be deemed to have waived the right of recourse held by it against the Company or any previous holders/endorsers even if the L/C is not paid in full at maturity thereof for any reason, including without limitation, failure to make payment by the L/C/debt obligor (including the buyer or the applicant or account party of the L/C, L/C Issuing Bank and L/C Confirming Bank) or moratorium, exchange control or currency restriction.
4.2 The Bank will be entitled to full recourse against the Company if the Bank suffers any loss or damage as a result of;
(i) the Company’s breach of any representations and warranties provided in Article 5;
(ii) the Company’s breach of the underlying contract with the buyer pursuant to which the L/C was issued, or any court order or judgment prohibiting the payment by the L/C issuing bank under the purchased L/C;
(iii) the L/C issuing bank or L/C confirming bank expresses clear objection to assignment of proceeds to the Bank in writing; or
(iv) the L/C issuing bank or L/C confirming bank is not obliged to, fails to or refuses to pay to the Bank any amount(s) under the terms and conditions of the L/C (or there is delay or reduction of any such payment) as a result of the documents or the transaction violating any local or international trade embargoes, restrictions or sanctions related issue. and the Company shall immediately, upon the Bank providing written notice to it on the occurrence of any recourse event set forth above, reimburse the Bank for any principal amount paid to the Company by the Bank (i.e. value of the purchased L/C) and indemnify the Bank against such loss or damage incurred or suffered by it, together with interest at 3.00% p.a. (unless otherwise agreed between the Company and the Bank) from the date of the Bank's payment or the date which the Bank incurred or suffered such loss or damage, as the case may be, i.e. from the next calendar date of agreed maturity date under purchased L/C, until the date of actual receipt by the Bank in full of the relevant reimbursement amount.
4.3 Prior to acceptance advice from L/C Issuing Bank or the L/C Confirming Bank the Bank may, at request from the Company, agree to effect payment to the Company with full recourse against the Company. Upon receipt of duly authenticated acceptance from L/C Issuing Bank or L/C Confirming Ban...
WITHOUT RECOURSE. This assignment shall be without recourse against Seller except for such obligations as are set forth in the assignment above. Seller: Title: By: Date: Buyer (and Co-Buyer) Name and Address Dealer/Creditor Name and Address
WITHOUT RECOURSE. 5 ARTICLE 5 INDEMNIFICATION.................................................5 Section 5.1 Indemnities by the Transferor..........................5 ARTICLE 6
