Series Secured Parties definition
Examples of Series Secured Parties in a sentence
Each Conveyance of Conveyed Assets shall be evidenced by the execution and delivery by the Obligors and ABS of this Master Sale Agreement and the execution and delivery of a Sale Agreement Supplement in the form of Exhibit A hereto, and all of the Obligors' rights hereunder and thereunder shall similarly be pledged to the Trustee for the benefit of the related Series Secured Parties as of the related Purchase Date.
ABS hereby makes the following representations and warranties for the benefit of the Obligors, the Trustee and the related Series Secured Parties.
The Obligor has received all consents and approvals required by the terms of the Series Related Documents to the sale and/or pledge of the Series Trust Estate hereunder to the Series Secured Parties.
Additionally, Seller agrees for the benefit of the Trustee and the Trust Collateral Agent, if any, that any amounts payable by Seller to HARC hereunder which are to be paid by HARC to the Trustee or the Trust Collateral Agent, if any, for the benefit of the related Series Secured Parties shall be paid by Seller, on behalf of HARC, directly to the Trustee or to the Trust Collateral Agent, as the case may be.
It is understood and agreed that the obligation of the Master Servicer to repurchase any Receivable (including any Liquidated Receivable) with respect to which such a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Master Servicer for such breach available to the related Series Secured Parties; Total Servicing Fee; Payment of Certain Expenses by Master Servicer.
In connection with (a) each Conveyance of Conveyed Assets to the Obligors, and (b) each pledge by such Obligors to the Trustee for the benefit of the related Series Secured Parties, pursuant to the Master Agreement, the Servicer will retain the Contract Files (provided that such Contract Files may be held by a designated custodian of the Servicer) and any related evidence of insurance and payments on behalf of the Trustee.
The Trust Collateral Agent or the Trustee, as the case may be, shall notify the related Series Secured Parties promptly, in writing, of any failure by the Master Servicer to so repurchase any Receivable to the extent the Trust Collateral Agent or the Trustee, as the case may be, has actual knowledge of such failure.
By execution below, the Seller expressly acknowledges and agrees that all of HARC's right, title, and interest in, to, and under this Agreement, including, without limitation, all of HARC's right title, and interest in and to the Receivables purchased pursuant to this Agreement, shall be assigned by HARC to the Trustee or the Trust Collateral Agent, if any, for the benefit of the related Series Secured Parties, and Seller consents to such assignment.
Each contribution of Conveyed Assets shall be evidenced by the execution and delivery by ABS and the Related Obligors of the related Contribution Agreement Supplement in the form of Exhibit A hereto, and all of the Related Obligors' rights thereunder shall similarly be pledged to the Trustee for the benefit of the related Series Secured Parties, as of the related Contribution Date.
ABS hereby makes the following representations and warranties for the benefit of the Related Obligors, the Trustee and the related Series Secured Parties.