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 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").
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.
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.
Such reports should note non-compliance with the plan and recommendations for future steps.
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.
We support full transparency for numbering and we agree to ComReg’s proposal to replace the practice of requesting CLI concessions with a published and transparent set of rules.
Conveyance of Subsequent Conveyed Assets..................................
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.