Credco definition
Examples of Credco in a sentence
Nothing contained in this subsection 2.9(c) shall be interpreted to prohibit or in any way limit any Transferor’s ability to grant to another Person a participation interest in the Transferor Interest upon the delivery to the Indenture Trustee and the Owner Trustee of an Issuer Tax Opinion; provided that any transfer by a Transferor of all or any part of its right, title and interest in and to the Transferor Interest to Credco will not require delivery of an Issuer Tax Opinion.
The foregoing does not constitute and is not intended to result in the creation or assumption by the Trust, the Owner Trustee, the Indenture Trustee or any Noteholder of any obligation of any Transferor, Credco, any Account Owner or any other Person in connection with the Trust Assets or under any agreement or instrument relating thereto, including any obligation to Obligors, merchants, clearance systems or insurers.
Credco shall coordinate its defense with the Office of the Attorney General when Texas state agencies are named defendants in any lawsuit and Credco may not agree to any settlement without first obtaining the written consent of the Office of the Attorney General.
Credco shall be liable to pay all costs of defense including attorneys' fees.
Credco and the Client shall furnish timely written notice to each other of any such claim.
The foregoing does not constitute and is not intended to result in the creation or assumption by the Trust, the Owner Trustee, the Indenture Trustee or any Noteholder of any obligation of the Servicer, any Transferor, Credco, any Account Owner or any other Person in connection with the Trust Assets or under any agreement or instrument relating thereto, including any obligation to Obligors, merchants clearance systems or insurers.
In the event of such termination, Credco shall, unless otherwise mutually agreed upon in writing, cease all work immediately upon the effective date of termination.
Should Credco subcontract any of the services required under the Contract, Credco agrees the Client is not liable to any subcontractor(s) of Credco.
The defaulting Credco will not be considered in the re-solicitation and may not be considered in future solicitations for the same type of work, unless the specification or scope of work significantly changed.
Credco agrees to maintain and, upon request, provide documentation of training completion.