Examples of Subsequent Conveyed Assets in a sentence
In consideration of the contribution of the Subsequent Conveyed Assets contributed to the Depositor on each Funding Date, the Depositor shall pay to the Originator on such date an amount equal to the estimated fair market value of the related Subsequent Conveyed Assets on such Funding Date (the “Purchase Price”).
Notwithstanding the preceding sentence, if the Purchase Price to be paid by the Depositor for such Subsequent Conveyed Assets exceeds the amount of any cash payments paid by the Issuer to the Depositor on such Funding Date for such Subsequent Conveyed Assets, then an undivided interest in such Subsequent Conveyed Assets in an amount equal to such excess shall be deemed to have been contributed to the Depositor by Santander Consumer.
The transfer by the Sellers to the Trust of the Subsequent Conveyed Assets identified on each List of Subsequent Contracts shall be absolute and is intended by the Sellers and the Trust to constitute and to be treated as a sale of the Subsequent Conveyed Assets by each Seller to the Trust.
It is the intention of the parties hereto that the transfer of the Subsequent Conveyed Assets to be made pursuant to the terms hereof shall constitute a sale or capital contribution of (x) the Contracts by the Originator to Transferor I, and (y) the ownership interest or security interest of the Originator in each item of Equipment and any Residual Receipts by the Originator to Transferor II, and, in either case, not a loan.
The Receivables Sale Agreement provides that each such sale, conveyance and contribution of Subsequent Conveyed Assets be evidenced by the execution and delivery of a Subsequent Receivables Sale Agreement such as this Subsequent Receivables Sale Agreement (this "Agreement").
Pursuant to the Receivables Sale Agreement, the Originator agreed to sell, convey and contribute, and the Transferors agreed to accept, from time to time, Subsequent Conveyed Assets.
The purchase price for any Subsequent Conveyed Assets will be paid by the applicable Transferor to the Originator in immediately available funds on the related Subsequent Funding Date in accordance with the terms of the related Subsequent Receivables Sale Agreement.
Upon receipt of the consideration specified in subsection (c) below, the Originator hereby releases all of its right, title and interest in, to and under the Subsequent Conveyed Assets, such receipt being hereby acknowledged by the execution of this Agreement by the Originator.
Component 3 involves addressing food and nutrition crisis and possibly portable water and sanitary facilities to the quarantined population in the MRU Region that crosses borders between Guinea, Liberia and Sierra Leone.
Notwithstanding the preceding sentence, if the Purchase Price to be paid by the Depositor for such Subsequent Conveyed Assets exceeds the amount of any cash payments paid by the Issuer to the Depositor on such Funding Date for such Subsequent Conveyed Assets, then an undivided interest in such Subsequent Conveyed Assets in an amount equal to such excess shall be deemed to have been contributed to the Depositor by Drive Consumer.