Purchased Property definition

Purchased Property. As defined in Section 2.01(a) of the Pooling Agreement.

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Purchased Property means (a) the Receivables, (b) all amounts received and applied on the Receivables on or after the Cutoff Date, (c) the security interests in the Financed Vehicles granted by Obligors under the Receivables and any other interest of Ford Credit in the Financed Vehicles, (d) rights to receive proceeds from claims on insurance companies for insurance covering the Financed Vehicles or Obligors, (e) recourse rights against the originating Dealer of the Receivables, (f) the Receivable Files, (g) all property securing the Receivables, (h) refunds for items originally included in the Amount Financed, including service contracts, insurance and similar products, (i) all present and future claims, demands, causes of action and choses in action relating to any of the property described above and (j) all payments on or under and all proceeds of the property described above.

Purchased Property means (a) the Receivables, (b) all amounts received and applied on the Receivables on or after the Cutoff Date, (c) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of Ford Credit in the Financed Vehicles, (d) rights to receive proceeds from claims on any physical damage, credit life, credit disability or other insurance policies covering Financed Vehicles or Obligors, (e) Dealer Recourse, (f) the Receivables Files, (g) all property securing the Receivables, (h) rebates of premiums and other amounts relating to insurance policies and other items financed under the Receivables in effect as of the Cutoff Date, (i) all present and future claims, demands, causes of action and choses in action in respect of any of the foregoing, and (j) all payments on or under and all proceeds in respect of any of the foregoing.

Examples of Purchased Property in a sentence

• This Agreement evidences a valid sale and assignment of the Purchased Property from the Sponsor to the Depositor, enforceable against creditors of and purchasers from the Sponsor.

• The Depositor and the Sponsor each represents and warrants to the other that the amount paid by the Depositor on the Closing Date, together with the increase in the value of the Sponsor's capital in the Depositor, is equal to the fair market value of the Receivables and the other Purchased Property.

• In consideration for the Purchased Property, the Depositor will pay to the Sponsor $1,027,121,759.93 on the Closing Date.

• The Sponsor agrees that any claim that it may seek to enforce against the Depositor under this Agreement is limited to the Purchased Property only and is not a claim against the Depositor's assets as a whole or against assets other than the Purchased Property.

• This sale and assignment does not, and is not intended to, include any obligation of the Sponsor to the Obligors, the Dealers or any other Person relating to the Receivables and the other Purchased Property, and the Depositor does not assume any of these obligations.

More Definitions of Purchased Property

Purchased Property means (a) the 2018-B Exchange Note, (b) all amounts paid or due on the 2018-B Exchange Note on or after the Cutoff Date, (c) Ford Credit’s rights under the Credit and Security Agreement, the Exchange Note Supplement, the Servicing Agreement and the Servicing Supplement related to the 2018-B Exchange Note, (d) all present and future claims, demands, causes of action and choses in action relating to any of the property described above and (e) all payments on or under and all proceeds of the property described above.

Purchased Property means the Receivables and related property described in Section 2.1(a) of the Purchase Agreement.

Purchased Property. As of any date, means all of the Designated Receivables and the Related Security transferred by NFC to NFRRC pursuant to Section 2.01 of the Purchase Agreement as of such date.

Purchased Property has the meaning set forth in Section 2 hereof.

Purchased Property means, collectively, (i) the Transferred Receivables, (ii) the Collections with respect to the Transferred Receivables, (iii) each of the Collection Account, the Series Accounts, the Special Funding Account and each other account established pursuant to the Master Indenture.

Purchased Property means (a) the Receivables, (b) all amounts received and applied on the Receivables on or after the Cutoff Date, (c) the security interests in the Financed Vehicles granted by Obligors under the Receivables and any other interest of Ford Credit in the Financed Vehicles, (d) rights to receive proceeds from claims on insurance companies for insurance covering the Financed Vehicles or Obligors, (e) Dealer Recourse for the Receivables, (f) the Receivable Files, (g) all property securing the Receivables, (h) refunds for items originally included in the Amount Financed, including service contracts, insurance and similar products, (i) all present and future claims, demands, causes of action and choses in action relating to any of the property described above and (j) all payments on or under and all proceeds of the property described above.

Purchased Property is the property of Seller to be sold to Purchaser pursuant to this Agreement as set forth in Section 2.2 hereof.