Receivables File definition
Examples of Receivables File in a sentence
Confirm there is evidence in the Receivables File of (A) a UCC filed within 20 days of the date of the Contract or (B) a UCC and a search to reflect evidencing such UCC and no prior competing lien; in each case identifying the correct Financed Equipment as collateral, the correct Obligor as debtor and filed in the state matching: (x) if the Obligor is an individual, the Obligor’s address on the face of the contract, or (y) if the Obligor is a corporate entity, the jurisdiction of formation of the Obligor.
Confirm there is evidence in the Receivables File of (A) a UCC filed within 20 days of the date of the Contract or (B) a UCC and a search to reflect evidencing such UCC and no prior competing lien; in each case identifying the correct Financed Equipment as collateral, the correct Obligor as debtor and filed in the State matching: (x) if the Obligor is an individual, the Obligor’s address on the face of the contract, or (y) if the Obligor is a corporate entity, the jurisdiction of formation of the Obligor.
Upon receipt of the Purchase Amount, the Purchaser shall cause the Trustee to release the related Receivables File to the Seller and to execute and deliver all instruments of transfer or assignment, without recourse, as are necessary to vest in the Seller title to the Receivable.
Upon receipt of the Purchase Amount and written instructions from the Servicer, the Trustee shall release to CPS or its designee the related Receivables File and shall execute and deliver all reasonable instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and necessary to vest in CPS or such designee title to the Receivable including a Trustee's Certificate in the form of Exhibit F-1.
The Custodian shall promptly report to the Issuer or GMAC, as applicable, any failure on its part to hold the related Receivables File as described herein and maintain its accounts, records and computer systems as herein provided and promptly take appropriate action to remedy any such failure.
The Custodian shall release any Receivable (and its related Receivables File) to GMAC, the Seller, the Servicer or the Issuer, as appropriate, under the circumstances provided in the Pooling and Servicing Agreement and the Trust Sale and Servicing Agreement or, in the case of the Retained Receivables, as otherwise requested by GMAC (so long as such request is not inconsistent with the terms of the Pooling and Servicing Agreement and the Trust Sale and Servicing Agreement).
Upon receipt of the Purchase Amount, the Purchaser shall cause the Trustee to release the related Receivables File to the Seller and to execute and deliver all instruments of transfer or assignment, without recourse, as are necessary to vest in the Seller title to the Samco Receivable.
Upon receipt of the Purchase Amount and written instructions from the Servicer, the Trustee shall release to CPS or its designee the related Receivables File and shall execute and deliver all reasonable instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and necessary to vest in CPS or such designee title to the Receivable including a Trustee’s Certificate in the form of Exhibit F-1.
Upon receipt of the Purchase Amount and written instructions from the Servicer, the Trustee shall release to CPS or its designee the related Receivables File and shall execute and deliver all reasonable instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and necessary to vest in CPS or such designee title to the Receivable including a Trustee’s Certificate in the form of Exhibit F-2.
The undersigned, as Custodian, confirms that the Receivable number in each Receivables File conforms to the respective Receivable number listed on the Receivable Schedule.