Acquired Receivables definition
Examples of Acquired Receivables in a sentence
After the transfer and absolute assignment, the Servicer will ▇▇▇▇ its receivables systems to indicate that the receivables are no longer Receivables and may take any action necessary or advisable to transfer and absolutely assign the Acquired Receivables, free from any Lien of the Depositor, the Issuer or the Indenture Trustee.
The parties hereto further acknowledge and agree that, so long as such Acquired Receivables satisfy all other criteria set forth in the definition of “Eligible Receivable”, such Acquired Receivables shall constitute Eligible Receivables within the meaning of the Receivables Purchase Agreement, the Transfer and Servicing Agreement and the Indenture notwithstanding the fact that such Acquired Receivables were neither sold to CFC under the Purchase Agreement nor otherwise originated by CFC.
Borrowers shall be responsible for all reasonable fees and expenses incurred by Administrative Agent (i) in connection with such field examinations, evaluations and appraisals conducted in accordance with the previous sentence and (ii) in connection with the collateral review conducted in connection with any Acquired Receivables Eligibility Requirement and the collateral review conducted in connection with any Acquire Inventory Eligibility Requirement.
All of the Acquired Receivables are reflected properly on the Seller’s books and records and are valid receivables and are subject to no setoffs or counterclaims.
The Buyer will be responsible for and will remit all sales Tax related to the Finance Leases prior to the Closing Date to the extent that the Seller’s accounts receivable for sales Taxes are part of the Acquired Receivables and to the extent the Buyer receives a Buyer Credit for the amount of all such Taxes at the Closing.