Addition of Additional Accounts Sample Clauses

Addition of Additional Accounts. (a) If from time to time, ------------------------------- Buyer becomes obligated to designate Additional Accounts pursuant to Section ------- 2.6(a) of the Transfer and Servicing Agreement (or any other provision thereof ------ calling for compliance with the procedures set forth in such Section 2.6(a)), -------------- then Buyer shall give RPA Sellers written notice thereof on or before the Notice Date prior to the Addition Date therefor and RPA Sellers shall on or before the Addition Date designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof Buyer will be in compliance with the requirements of said Section 2.6(a). Additionally, subject -------------- to the limitations, if any, on Buyer's ability to add Additional Accounts under Section 2.6(b) of the Transfer and Servicing Agreement, from time to time -------------- Eligible Accounts may be designated to be included as Additional Accounts, upon the mutual agreement of Buyer and RPA Sellers. In either event, RPA Sellers shall have responsibility for selecting the Additional Accounts and shall on or prior to the Addition Date therefore execute and deliver a Supplemental Conveyance identifying the Additional Accounts by account number and Receivables balance and Principal Receivables balance as of the Addition Date, which Supplemental Conveyance shall be effective upon receipt by Buyer.
AutoNDA by SimpleDocs
Addition of Additional Accounts. (a) If, from time to time, the Corporation becomes obligated to designate Additional Accounts (as such term is defined in the Pooling and Servicing Agreement) pursuant to subsection 2.09(a) of the Pooling and Servicing Agreement, then the Corporation may, at its option, give the Account Owner written notice thereof on or before the tenth Business Day (the "Addition Notice Date") prior to the Addition Date therefor, and upon receipt of such notice the Account Owner shall on or before the Addition Date, designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof the Corporation will be in compliance with the requirements of said subsection 2.09(a) of the Pooling and Servicing Agreement. Additionally, subject to subsection 2.02(b) hereof, from time to time Eligible Accounts may be designated to be included as Additional Accounts, upon the mutual agreement of the Corporation and the Account Owner. In either event, the Account Owner shall have sole responsibility for selecting the Additional Accounts and shall determine and notify the Corporation of the Addition Cut-Off Date with respect to such Additional Accounts.
Addition of Additional Accounts. (a) If (i) Dryrock Funding is required, pursuant to Section 2.11(a) of the Transfer Agreement, to designate additional accounts to the Trust, or (ii) Dryrock Funding elects, pursuant to Section 2.11(b) of the Transfer Agreement, to designate additional accounts to the Trust, then in either case Dryrock Funding shall give written notice thereof to the Seller; provided, however, that such notice shall be provided on or before the third Business Day immediately preceding the date on which the Seller is being asked to designate additional accounts. Upon receipt of such notice and on or prior to such date on which the Seller is being asked to designate additional accounts, the Seller shall designate, to the extent it has such accounts, sufficient Eligible Accounts as Additional Accounts and shall sell to Dryrock Funding the Purchased Assets related to such Additional Accounts. In addition, at its option and with the consent of Dryrock Funding, the Seller may designate Eligible Accounts as Additional Accounts and sell to Dryrock Funding the Purchased Assets related to such Additional Accounts.
Addition of Additional Accounts. (a) REQUIRED ADDITIONS. If Purchaser is required, pursuant to Section 2.06 of the Pooling and Servicing Agreement or Section 2.06 of the Transfer and Servicing Agreement, to designate additional Eligible Accounts as Additional Accounts, Purchaser shall so notify RPA Seller. RPA Seller shall designate such Eligible Accounts as Additional Accounts and shall convey to Purchaser Receivables in such Additional Accounts, subject to the same qualifications and restrictions as are set forth in Section 2.06 of the Pooling and Servicing Agreement or Section 2.06 of the Transfer and Servicing Agreement, as applicable, with respect to Purchaser; provided, however, that the failure of RPA Seller to transfer Receivables to Purchaser as provided in this paragraph solely as a result of the unavailability of a sufficient amount of Eligible Receivables shall not constitute a breach of this Agreement; provided further, that any such failure which has not been timely cured will nevertheless result in the occurrence of a Pay Out Event with respect to each Series for which, pursuant to the Supplement therefor, a failure by Purchaser to convey Receivables in Additional Accounts to the Receivables Trust by the day on which it is required to convey such Receivables constitutes a Pay Out Event.
Addition of Additional Accounts. (a) All accounts which meet the definition of Automatic Additional Accounts shall be included as Accounts from and after the date upon which such Automatic Additional Accounts are created and all Receivables in such Automatic Additional Accounts, whether such Receivables are then existing or thereafter created, shall be transferred automatically to TRC upon purchase by TCC. For all purposes of this Agreement, all receivables of such Automatic Additional Accounts shall be treated as Receivables upon their creation and shall be subject to the eligibility criteria specified in the definitions in the Pooling and Servicing Agreement of "Eligible Receivable" and "Eligible Account." TCC may elect at any time to terminate the inclusion in Accounts of new accounts which would otherwise be Automatic Additional Accounts as of any Business Day (the "Automatic Addition Termination Date") or suspend such inclusion as of any Business Day (an "Automatic Addition Suspension Date") until a future Business Day to be notified in writing by TCC to TRC (the "Restart Date"), by delivering to TRC ten days prior written notice of such election at least 10 days prior to such Automatic Addition Termination Date or Automatic Addition Suspension Date. Promptly after an Automatic Addition Termination Date, an Automatic Addition Suspension Date or a Restart Date, TCC and TRC agree to execute and TCC agrees to record and file at its own expense an amendment to the financing statements referred to in Section 2.1(b) hereof to specify the accounts then subject to this Agreement (which specification may incorporate a list of accounts by reference) and, except in connection with any such filing made after a Restart Date, to release any security interest in any accounts created after the Automatic Addition Termination Date or an Automatic Addition Suspension Date.
Addition of Additional Accounts. Prior to the Transition Date, if, from time to time, the Company becomes obligated to designate Additional Accounts (as such term is defined in the Transfer and Servicing Agreement) pursuant to subsection 2.09(a) of the Transfer and Servicing Agreement, then HPLAC may, at its option, give the Bank written notice thereof on or before the fifth Business Day (the “Addition Notice Date”) prior to the Addition Date therefor, and upon receipt of such notice the Bank shall on or before such Addition Date, designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof HPLAC will be in compliance with the requirements of said subsection 2.09(a). Prior to the Transition Date, additionally, subject to subsections 2.09(b) and (c) of the Transfer and Servicing Agreement, from time to time Eligible Accounts may be designated to be included as Additional Accounts upon the mutual agreement of the Company, HPLAC and the Bank. In either event, the Bank shall have sole responsibility for selecting the Additional Accounts. On the Addition Date with respect to any designation of Additional Accounts, HPLAC has purchased the Bank’s right, title and interest in, to and under the Receivables in such Additional Accounts (and such Additional Accounts shall be deemed to be Accounts for purposes of this Agreement) and the related Purchased Assets.
Addition of Additional Accounts. (a) If (i) the Depositor is required, pursuant to Subsection 2.13(a) of the Transfer Agreement, to designate additional accounts to the Trust, or (ii) the Depositor elects, pursuant to Subsection 2.13(b) of the Transfer Agreement, to designate additional accounts to the Trust, then in either case the Depositor shall give written notice thereof to TD; provided, however, that such notice shall be provided on or before the fifth (5th) Business Day immediately preceding the related addition date. Upon receipt of such notice and on or prior to such addition date, TD shall designate sufficient Eligible Accounts as Additional Accounts and shall sell to the Depositor the Purchased Assets related to such Additional Accounts. In addition, at its option and with the consent of the Depositor, TD may designate Eligible Accounts as Additional Accounts and sell to the Depositor the Purchased Assets related to such Additional Accounts.
AutoNDA by SimpleDocs
Addition of Additional Accounts. (a) If, from time to time, Funding becomes obligated to designate Additional Accounts pursuant to Section 2.09(a) of the Pooling and Servicing Agreement, then Funding shall give NMG written notice thereof on or before the eighth Business Day (the "Addition Notice Date") prior to the Addition Date therefor, and NMG shall on or before the Addition Date, designate sufficient Eligible Accounts to be included as Accounts so that after the inclusion thereof Funding will be in compliance with the requirements of Section 2.09 of the Pooling and Servicing Agreement. NMG shall have sole responsibility for selecting such Additional Accounts and shall on or prior to the Addition Date therefor execute and deliver to Funding a written assignment from NMG to Funding in substantially the form of Exhibit A (the "Supplemental Conveyance"). Upon such designation, such Automatic Additional Accounts shall be deemed to be Accounts hereunder.
Addition of Additional Accounts. (a) If, from time to time, the Company becomes obligated to designate Additional Accounts pursuant to subsection 2.6(a) of the Master Pooling and Servicing Agreement, then the Company may, at its option, give HRAC written notice thereof on or before the tenth Business Day (the “Addition Notice Date”) prior to the Additional Account Closing Date therefor, and upon receipt of such notice HRAC shall on or before the Additional Account Closing Date, designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof the Company will be in compliance with the requirements of said subsection 2.6(a). Additionally, subject to subsections 2.6(b) and (c) of the Master Pooling and Servicing Agreement and subsection 2.02(b), from time to time Eligible Accounts may be designated to be included as Additional Accounts, upon the mutual agreement of the Company and
Addition of Additional Accounts. (a) If, from time to time, Funding becomes obligated to designate Additional Accounts pursuant to Section 2.09(a) of the Pooling and Servicing Agreement, then Funding shall give BG written notice thereof on or before the eighth Business Day (the "Addition Notice Date") prior to the Addition Date therefor, and BG shall on or before the Addition Date designate sufficient Eligible Accounts to be included as Accounts so that after the inclusion thereof Funding will be in compliance with the requirements of Section 2.09 of the Pooling and Servicing Agreement. BG shall have sole responsibility for selecting such Additional Accounts and shall on or prior to the Addition Date therefor execute and deliver to Funding a written assignment from BG to Funding in substantially the form of Exhibit A (the "Supplemental Conveyance"). Upon such designation, such Additional Accounts shall be deemed to be Accounts hereunder.
Time is Money Join Law Insider Premium to draft better contracts faster.