Designated Receivable definition
Examples of Designated Receivable in a sentence
NFC shall indemnify NFRRC for any liability as a result of the failure of a Designated Receivable to be originated in compliance with all requirements of law and for any breach of any of its representations and warranties contained herein.
No right of rescission, setoff, counterclaim or defense has been asserted or threatened with respect to any Designated Receivable.
Each Designated Receivable was originated in the United States and is payable in U.S. Dollars.
There is only one original executed copy of each Designated Receivable.
It is understood and agreed that the obligation of NFC to repurchase any Designated Receivable as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against NFC for such breach available to NFRRC or any Interested Party.