Examples of Closing Date Collateral Loans in a sentence
Until the end of the Assignment Period, (x) the Borrower shall not purchase any debt obligation unless the Borrower purchases an assignment of such debt obligation, such that such debt obligation is owned and held by the Borrower as a lender of record, and (y) other than with respect to the Closing Date Collateral Loans, the Borrower shall not purchase any Participation Interests.
It is the intention of the parties hereto that the conveyance of all right, title and interest in, to and under the Collateral (including, without limitation, the Closing Date Collateral Loans) to the Buyer as provided in this Article II shall constitute an absolute sale, conveyance and transfer conveying good title, free and clear of any Lien and that the Collateral shall not be part of the Seller’s bankruptcy estate in the event of an Event of Bankruptcy with respect to the Seller.
Upon the effective assignment of any Closing Date Collateral Loans participated pursuant to this section, the Seller, for value received, hereby conveys to the Buyer, and the Buyer hereby purchases from the Seller all of Seller’s right, title and interest in, to and under the assigned Closing Date Collateral Loans.
Seller shall direct all Obligors, administrative agents and loan agents (as applicable) with respect to the participated Closing Date Collateral Loans and the Collateral related thereto to pay any Collections with respect thereto into the Collection Account.
Upon receipt by Buyer or the Collateral Agent of the effective assignment of any Closing Date Collateral Loans and the Collateral participated pursuant to this Section 2.04, Seller, for value received, hereby sells, assigns, transfers and conveys to Buyer, and Buyer hereby irrevocably -10- purchases and assumes from Seller (i) all of Seller’s right, title and interest in, to and under the assigned Closing Date Collateral Loans and (ii) all right, title and interest with respect thereto.