BACCS definition
Examples of BACCS in a sentence
If BACCS or Funding discovers a breach of any of these representations and warranties, the party discovering that breach must give prompt notice to the other party and the MTII Trustee.
Prior to the Merger Date, BACCS and Funding were each party to that certain Receivables Purchase Agreement, dated as of October 20, 2006 (as amended, supplemented or otherwise modified, the “Original Receivables Purchase Agreement”), pursuant to which BACCS sold to Funding credit card receivables arising under the credit card accounts identified in the Original Receivables Purchase Agreement and certain other related assets.
All acts required of BACCS in this paragraph must be taken at BACCS’s own expense.
Upon discovery by FIA or BACCS of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give notice to the other party within three (3) Business Days following such discovery.
All acts required of BACCS or BANA in this paragraph must be taken at BANA’s expense.
Each of the parties hereto acknowledge that the intended winding up of the operations of, liquidation of, and cessation of BACCS as an entity is imminent.
As of the close of business on July 17, 2015, BACCS wound up its operations, distributed its assets to its parent, BANA, pursuant to a liquidating distribution, and ceased to exist as an entity.
All acts required of BACCS in this paragraph must be taken at BACCS's own expense.
Each of the parties hereto does hereby consent to such winding up, liquidation and cessation of BACCS as an entity on or after the BACCS Liquidation Date.
BANA hereby acknowledges, confirms and ratifies as its own the actions taken by BACCS prior to the date of this Agreement under each Prior Second Tier Agreement.