Examples of Other Floorplan Assets in a sentence
In connection with any reassignment of a Transferred Receivable or Interest in Other Floorplan Assets pursuant to this Section, the Transferor will direct the Servicer to deduct, subject to the next sentence, the principal amount of such Transferred Receivables and such Interest in Other Floorplan Assets from the Pool Balance on or before the end of the Collection Period in which such reassignment obligation arises.
The Transferor will satisfy the conditions specified in Section 2.06(d) in designating such Additional Accounts and transferring the related Transferred Receivables or Interests in Other Floorplan Assets to the Issuer.
The Transferor may from time to time, at its sole discretion, subject to the conditions specified in Section 2.06(d), designate additional Eligible Accounts as Additional Accounts and transfer to the Issuer the Transferred Receivables and the Related Security arising in connection with such Additional Accounts or transfer to the Issuer Interests in Other Floorplan Assets.
The representations and warranties set forth in Section 2.03(a) survive the transfer and assignment of the Transferred Receivables and Related Security and the Interests in Other Floorplan Assets to the Issuer.
The Owner Trustee will execute such documents and instruments of transfer or assignment and take such other actions as are reasonably requested by the Transferor to effect the conveyance of such Transferred Receivables or Interest in Other Floorplan Assets pursuant to this Section.
As of the date of this Agreement, the Transferor is permitted to transfer to the Issuer Other Floorplan Assets consisting of Pooled Participation Receivables and Third-Party Financed In-Transit Receivables.
These representations and warranties will survive the transfer of the respective Transferred Receivables and the Related Security or the Interests in Other Floorplan Assets, as applicable, to the Issuer.
The failure of the Transferor to transfer Transferred Receivables or Interests in Other Floorplan Assets to the Issuer as provided in this Section 2.06(a) solely as a result of the unavailability of a sufficient amount of Eligible Receivables or Interest in Other Floorplan Assets will not constitute a breach of this Agreement; provided, however, that any such failure will nevertheless result in the occurrence of an Amortization Event described in Section 5.01(i) of the Indenture.
In connection with such transfer, the Transferor further agrees, at its own expense, on or before the Addition Date, to indicate in its computer files that the [Transferred Receivables and the Related Security] [Interests in Other Floorplan Assets]: (A) have been transferred or assigned to the Issuer pursuant to this Assignment and then (B) pledged by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders and any Series Enhancers.
The Transferor and the Servicer will indicate generally in its computer files or other records that the Transferred Receivables arising in connection with the Accounts and the Interests in Other Floorplan Assets have been transferred to the Issuer pursuant to this Agreement for the benefit of the Noteholders and any Series Enhancers.