Corporate Separateness. (i) The capital of Seller and Guarantor is adequate for the respective business and undertakings of Seller and Guarantor. (ii) Other than as provided in this Agreement and the other Program Documents, Seller is not engaged in any business transactions with Guarantor or any of its Affiliates other than transactions in the ordinary course of its business on an “arms-length” basis.
Appears in 2 contracts
Sources: Master Repurchase Agreement, Master Repurchase Agreement (New Century Financial Corp)
Corporate Separateness. (i) The capital of Seller Sellers and each Guarantor is adequate for the respective business and undertakings of Seller Sellers and each Guarantor.
(ii) Other than as provided in this Agreement and the other Program Documents, Seller is Sellers are not engaged in any business transactions with any Guarantor or any of its Affiliates other than transactions in the ordinary course of its business on an “arms-length” basis.
(iii) The funds and assets of each Seller is not and will not be, commingled with the funds of any other Person.
Appears in 2 contracts
Sources: Master Repurchase Agreement (Novastar Financial Inc), Master Repurchase Agreement (Novastar Financial Inc)
Corporate Separateness. (i) The capital of Seller Sellers and the Guarantor is adequate for the respective business and undertakings of Seller Sellers and the Guarantor.
(ii) Other than as provided in this Agreement and the other Program Documents, Seller is Sellers are not engaged in any business transactions with the Guarantor or any of its Affiliates other than transactions in the ordinary course of its business on an “arms-length” basis.
(iii) The funds and assets of each Seller is not and will not be, commingled with the funds of any other Person.
Appears in 1 contract
Sources: Master Repurchase Agreement (Novastar Financial Inc)
Corporate Separateness. (i) The Its capital of Seller and Guarantor is adequate for the respective its business and undertakings of Seller and Guarantorundertakings.
(ii) Other than as provided in this Agreement and the other Program Documents, Seller is not engaged in any business transactions with the Guarantor or any of its their Affiliates other than transactions in the ordinary course of its business on an “armsarm’s-length” basis.
(iii) Its funds and assets are not and will not be, commingled with the funds of any other Person.
Appears in 1 contract
Sources: Master Repurchase Agreement (New Century Financial Corp)
Corporate Separateness. (i) The capital of each Seller and Guarantor is adequate for the respective business and undertakings of such Seller and Guarantor.
(ii) Other than as provided in this Agreement and the other Program Documents, no Seller is not engaged in any business transactions with Guarantor or any of its Affiliates other than transactions in the ordinary course of its business on an “arms-length” basis.
(iii) The funds and assets of each Seller is not and will not be commingled with the funds of any other Person.
Appears in 1 contract
Sources: Master Repurchase Agreement (Novastar Financial Inc)
Corporate Separateness. (i) The capital of Seller and Guarantor Guarantors is adequate for the respective business and undertakings of Seller and GuarantorGuarantors.
(ii) Other than as provided in this Agreement and the other Program Documents, Seller is not engaged in any business transactions with either Guarantor or any of its their Affiliates other than transactions in the ordinary course of its business on an “arms-length” basis.
(iii) The funds and assets of the Seller are not and will not be, commingled with the funds of any other Person.
Appears in 1 contract
Sources: Master Repurchase Agreement (New Century Financial Corp)
Corporate Separateness. (i) The capital of each Seller and the Guarantor is adequate for the respective business and undertakings of such Seller and the Guarantor.
(ii) Other than as provided in this Agreement and the other Program Documents, Seller is the Sellers are not engaged in any business transactions with the Guarantor or any of its Affiliates other than transactions in the ordinary course of its business on an “arms-length” basisbasis or transactions among Sellers and internal reorganizations not otherwise prohibited hereunder.
(iii) The funds and assets of the Sellers are not and will not be, commingled with the funds of any other Person.
Appears in 1 contract
Sources: Master Repurchase Agreement (New Century Financial Corp)
Corporate Separateness. (i) The Its capital of Seller and Guarantor is adequate for the respective its business and undertakings of Seller and Guarantorundertakings.
(ii) Other than as provided in this Agreement and the other Program Documents, Seller is not engaged in any business transactions with the Guarantor or any of its their Affiliates other than transactions in the ordinary course of its business on an “arms-length” basis.
(iii) Its funds and assets are not and will not be, commingled with the funds of any other Person.
Appears in 1 contract
Sources: Master Repurchase Agreement (New Century Financial Corp)
Corporate Separateness. (i) The capital of Seller Sellers and Guarantor is adequate for the respective business and undertakings of Seller the Sellers and the Guarantor.
(ii) Other than as provided in this Agreement and the other Program Documents, Seller is the Sellers are not engaged in any material business transactions with the Guarantor or any of its Affiliates other than transactions in the ordinary course of its business on an “arms-length” basis.
(iii) The funds and assets of each Seller are not and will not be, commingled with the funds of any other Person.
Appears in 1 contract
Sources: Master Repurchase Agreement (Novastar Financial Inc)