Originator Accounts definition
Examples of Originator Accounts in a sentence
Exhibit IV-B hereto sets forth (i) the names and addresses of all Originator Account Banks, together with the account numbers of the Originator Accounts, and (ii) the addresses of all Originator Lock-Boxes, the numbers of all associated Originator Accounts and the name and address of each Originator Account Bank.
If a Ratings Event has occurred and is continuing, the Administrative Agent may appoint a third party to monitor the servicing of the Pool Receivables, including the disposition of Collections received in the Originator Accounts, Lock-Box Accounts and the Trust Accounts.
Each Originator Lock-Box and Originator Account is in the name of an Originator, and an Originator owns and has good and marketable title to the Originator Accounts free and clear of any Adverse Claim.
The names and addresses of all of the Lock-Box Banks, Originator Banks and Trust Banks, together with the account numbers of the Lock-Box Accounts, Originator Accounts and Trust Accounts at such Lock-Box Banks, Originator Banks and Trust Banks, are specified in Schedule II to the Receivables Purchase Agreement.
Originator has (a) all necessary power, authority and legal right (i) to execute and deliver, and perform its obligations under, this Agreement and the Servicing Agreement and (ii) to generate, own, sell, contribute and assign Originator Accounts on the terms and subject to the conditions herein and therein provided; and (b) duly authorized such execution and delivery and such sale, contribution and assignment and the performance of such obligations by all necessary corporate action.
Each Originator shall pledge its rights to all amounts in the Originator Accounts to the Seller pursuant to the relevant Sale Agreement.
If a Ratings Event has occurred and is continuing, the Administrative Agent may appoint a third party to monitor the servicing of the Pool Receivables, including the disposition of Collections received in the Canadian Originator Accounts and Canadian Lock-Box Accounts.
It is the express intent of the parties hereto that the transfers of the Originator Accounts and Related Rights by Originator to the Company, as contemplated by this Agreement be, and be treated as, sales or contributions, as applicable, and not as secured loans secured by the Originator Accounts and Related Rights.
Timely and fully perform and comply with all provisions, covenants and other promises required to be observed by it under the Contracts and all other agreements related to the Originator Accounts.
Account for or treat (whether in financial statements or otherwise) the transactions contemplated hereby in any manner other than as sales of the Originator Accounts and Related Rights by Originator to the Company.