Examples of Receivables Purchaser in a sentence
Upon payment of any such Repurchase Price with respect to any such Receivables, Purchaser shall automatically and without further action sell, transfer, assign, set-over and otherwise convey to Seller, without recourse, representation or warranty, all the right, title and interest of Purchaser in and to such Receivables, all Collections related thereto, all monies and amounts due or to become due with respect thereto, all proceeds thereof, and all other Purchased Assets related thereto.
In the event that any additional charges, fees or payments, specifically applicable to the Programme or this Agreement, are imposed by the Credit Card System, Receivables Purchaser agrees and undertakes to pay or reimburse Account Owner such amounts, including legal fees of the Credit Card System for review of this Agreement, the Related Agreements and other documents.
Receivables Purchaser hereby agrees to grant to Account Owner a security interest in the Settlement Reserve Account and the funds deposited therein in order to secure Receivables Purchaser’s obligation to purchase new or accrued receivables under the Receivables Purchase Agreement and/or settle claims for any Receivables not transferred thereunder.
Account Owner expressly acknowledges and agrees that all of Receivable Purchaser’s right, title and interest in, to, and under this Agreement will be assigned by Receivables Purchaser to Xxxxxxxxx Funding Corporation, and Xxxxxxxxx Funding Corporation will grant a security interest therein to Deutsche Bank Trust Company Americas in its capacity as indenture trustee, and Account Owner consents to such assignments.
Receivables Purchaser and Servicer hereby agree that all use of the AO Credit Card Marks shall only be in connection with the Accounts.