Examples of Bill xx Sale in a sentence
The sale, transfer, assignment and conveyance of the Purchased Assets shall be made by the execution and delivery at Closing of (i) an Assignment and Assumption Agreement substantially in the form attached hereto as Schedule 2.1(a) (the "Assignment"), and (ii) a bill xx sale substantially in the form attached hereto as Schedule 2.1(b) (the "Bill xx Sale"), and (iii) such other recordable instruments of assignment, transfer and conveyance as Purchaser shall reasonably request.
However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then Seller hereby grants to the Owner Trustee for the benefit of the Trust a first priority security interest in and to all Student Loans described in the Bill xx Sale and Student Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such loans.
Seller authorizes the Owner Trustee for the benefit of the Trust to use a copy of the Bill xx Sale, including the Student Loan Transmittal Summary Form attached to the Bill xx Sale, as official notification to any Guarantor of assignment to the Owner Trustee on behalf of the Trust of the Student Loans on the date of purchase.
The parties hereto intend that the transfer of Student Loans described in the Bill xx Sale and Student Loan Transmittal Summary Form be, and be construed as, a valid sale of such Student Loans from Seller to the Owner Trustee for the benefit of the Trust.
Seller has duly executed and delivered this Bill xx Sale as of the day and year first above written.