Examples of Collateral Certificate in a sentence
The Transferor shall notify the Owner Trustee, the Indenture Trustee and the Collateral Agent promptly after becoming aware of any Lien on any Receivable or Collateral Certificate conveyed by it to the Trust other than the conveyances hereunder and under any applicable Receivables Purchase Agreement, any applicable Pooling and Servicing Agreement, any applicable Series Supplement, the Indenture and the Asset Pool One Supplement.
The obligation of the Transferor to accept reassignment of any Ineligible Collateral Certificate or Ineligible Receivable previously conveyed to the Trust by the Transferor, and to make the deposits, if any, required to be made to the applicable Excess Funding Account as provided in this Section, shall constitute the sole remedy respecting the event giving rise to such obligation available to the Trust or the Noteholders (or the Indenture Trustee or the Collateral Agent on behalf of the Noteholders).
The Trust shall execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested and provided by the Transferor to effect the conveyance of such Ineligible Collateral Certificate or Ineligible Receivable pursuant to this subsection 2.05(c), but only upon receipt of an Officer’s Certificate from the Transferor that states that all conditions set forth in this Section 2.05 have been satisfied.
The Servicer shall not permit any rescission or cancellation of any Collateral Certificate or any Receivable except as ordered by a court of competent jurisdiction or other Governmental Authority or in accordance with the normal operating procedures of the Servicer.
The Servicer shall take no action which, or omit to take any action the omission of which, would impair the rights of the Trust, the Collateral Agent, the Indenture Trustee or the Noteholders in any Collateral Certificate or any Receivable or the related Account, if any, nor shall it reschedule, revise or defer payments due on any Receivable except in accordance with the Credit Card Guidelines.