Payments to Seller. With respect to each Receivable sold to the Borrower by the Seller, the Borrower has given reasonably equivalent value to the Seller in consideration for such Receivable and the Related Assets with respect thereto pursuant to, and in accordance with, the Purchase and Sale Agreement and such transfer was not made for or on account of an antecedent debt. No transfer by the Seller of any Receivable is or may be voidable under any Section of the Bankruptcy Reform Act of 1978 (11 U.S.C. §§101 et seq.), as amended.
Appears in 2 contracts
Samples: Credit and Security Agreement (Packaging Corp of America), Credit and Security Agreement (Packaging Corp of America)
Payments to Seller. With respect to each Receivable sold to the Borrower by the Seller, the Borrower has given reasonably equivalent value to the Seller in consideration for such Receivable and the Related Assets with respect thereto pursuant to, and in accordance with, under the Purchase and Sale Agreement and such transfer was not made for or on account of an antecedent debt. No transfer by the Seller of any Receivable is or may be voidable under any Section of the Bankruptcy Reform Act of 1978 (11 U.S.C. §§Sections 101 et seq.), as amended.
Appears in 1 contract
Samples: Credit and Security Agreement (Packaging Corp of America)
Payments to Seller. With respect to each Receivable sold to the Borrower Company by the Seller, the Borrower Company has given reasonably equivalent value to the Seller in consideration for such -12- Receivable and the Related Assets with respect thereto pursuant to, and in accordance with, the Purchase and Sale Agreement hereto and such transfer was not made for or on account of an antecedent debt. No transfer by the Seller of any Receivable is or may be voidable under any Section of the Bankruptcy Reform Act of 1978 (11 U.S.C. §§Sections 101 et seq.), as amended.
Appears in 1 contract
Samples: Receivables Sale Agreement (Packaging Corp of America)
