Accounting of Purchases. Other than for federal, state and local ----------------------- income tax purposes, the Seller will not account for or treat (whether in financial statements or otherwise) the transactions contemplated hereby in any manner other than as the sale, or absolute assignment, of Assets by the Seller to a Purchaser. The Seller will not account for or treat (whether in financial statements or otherwise) the transaction contemplated by the Purchase Agreement in any manner other than as the sale, or absolute assignment, of the Originator Assets by the Originator to the Seller, as the case may be.
Appears in 1 contract
Samples: Loan Purchase and Servicing Agreement (First International Bancorp Inc)
Accounting of Purchases. Other than for federal, state and local ----------------------- income tax purposes, the Seller will not account for or treat (whether in financial statements or otherwise) the transactions contemplated hereby in any manner other than as the sale, or absolute assignment, of Assets by the Seller to a Purchaser. The Seller will not account for or treat (whether in financial statements or otherwise) the transaction contemplated by the Purchase Agreement in any manner other than as the sale, or absolute assignment, of the Originator Assets by the Originator to the Seller, as the case may be.
Appears in 1 contract
Samples: Purchase and Servicing Agreement (First International Bancorp Inc)
Accounting of Purchases. Other than for federal, state and local ----------------------- income tax purposes, the Seller will not account for or treat (whether in financial statements or otherwise) the transactions contemplated hereby in any manner other than as the sale, or absolute assignment, of Assets by the Seller to a PurchaserMSFC. The Seller will not account for or treat (whether in financial statements or otherwise) the transaction contemplated by the Purchase Agreement in any manner other than as the sale, or absolute assignment, of the Originator Assets by the Originator to the Seller, as the case may be.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Fidelity Leasing Inc)
Accounting of Purchases. Other than for federal, state and local ----------------------- federal income tax ----------------------- purposes, the Seller will not account for or treat (whether in financial statements or otherwise) the transactions contemplated hereby in any manner other than as the sale, or absolute assignment, of Assets by the Seller to a Purchaser. The Seller will not account for or treat (whether in financial statements or otherwise) the transaction contemplated by the Purchase Agreement in any manner other than as the sale, or absolute assignment, of the Originator Assets by the Originator to the Seller, as the case may be.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Bankvest Capital Corp)