Originator Party definition
Examples of Originator Party in a sentence
Seller shall, and shall require each Originator Party to, perform each of their respective obligations and undertakings under and pursuant to the Receivables Sale Agreement, shall purchase Receivables thereunder in strict compliance with the terms thereof and shall vigorously enforce the rights and remedies accorded to Seller under the Receivables Sale Agreement.
The BSSA shall apply mutatis mutandis to this Agreement and shall have effect in the same manner as if set out in this Agreement as if the Issuer were the Originator or an Originator Party (as defined in the Europe SLA) as applicable in the context thereof and that the Issuer shall receive the benefit of such covenants.
The occurrence of a default or an event of default under any other financing arrangement pursuant to which any Originator Party is a debtor or an obligor.
The Certificate Insurer Party shall cooperate with each Underwriter Party and each Originator Party in resolving any event which would give rise to an indemnification obligation pursuant to Section 5(b) hereof in the most efficient manner.
Any failure by a Originator Party or Underwriter Party, as the case may be, to comply with the provisions of this Section shall relieve the Certificate Insurer of liability only if such failure is materially prejudicial to any legal pleadings, grounds, defenses or remedies in respect thereof or the Certificate Insurer's financial liability hereunder, and then only to the extent of such prejudice.
The Certificate Insurer shall be entitled to participate in the defense of any such action or claim in reasonable cooperation with, and with the reasonable cooperation of, each Originator Party or each Underwriter Party, as the case may be.
In the event that any action or regulatory proceeding shall be commenced or claim asserted which may entitle each Underwriter Party or Originator Party to be indemnified under this Agreement, such party shall give the Certificate Insurer written or telegraphic notice of such action or claim reasonably promptly after receipt of written notice thereof.
Therefore, from and after the date of execution and delivery of this Agreement, Seller shall take all reasonable steps, including all steps that the Agent or any Purchaser may from time to time reasonably request, to maintain Seller's identity as a separate legal entity and to make it manifest to third parties that Seller is an entity with assets and liabilities distinct from those of each Originator Party and any Affiliates thereof and not just a division of any Originator Party.