Common use of Quality of Title Clause in Contracts

Quality of Title. (a) Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by Originator, free and clear of any Adverse Claim. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim) in all Receivables generated by Originator and all Collections related thereto, and in Originator's entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 2 contracts

Samples: Purchase and Contribution Agreement (Pilgrims Pride Corp), Purchase and Contribution Agreement (Warren S D Co /Pa/)

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Quality of Title. (a) Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by such Originator, free and clear of any Adverse ClaimClaim (other than any Adverse Claim arising solely as a result of any action taken by the Company). Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim) in all Receivables generated by such Originator and all Collections related thereto, and in such Originator's entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Pittston Co), Purchase and Sale Agreement (United States Steel Corp)

Quality of Title. (a) Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by the Originator, free and clear of any Adverse Claim. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim) in all Receivables generated by the Originator and all Collections related thereto, and in the Originator's entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Allete), Purchase and Sale Agreement (Minnesota Power & Light Co)

Quality of Title. (a) Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by each Originator, free and clear of any Adverse Claim. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim) in all Receivables generated by such Originator and all Collections related thereto, and in such Originator's entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 1 contract

Samples: Purchase and Contribution Agreement (Imperial Sugar Co /New/)

Quality of Title. (ai) Each Receivable (together with the Related RightsRights with respect to such Receivable) which is to be sold or contributed to the Company hereunder is or shall be be, at the time of such sale or contribution, owned by Originatorit, free and clear of any Adverse ClaimLien. Whenever the Company makes a purchase, purchase or accepts a contribution, contribution of a Receivable hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse ClaimLien, other than a Lien created by or arising through the Company, the Purchaser or the Administrative Agent) in all Receivables generated by Originator such Receivable and all Collections related thereto, and in Originator's its entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Lennox International Inc)

Quality of Title. (a) Each Receivable of such Originator (together with the Related RightsRights with respect to such Receivable) which is to be sold or contributed to the Company hereunder is or shall be owned by such Originator, free and clear of any Adverse Claim, except as provided herein and in the Receivables Purchase Agreement. Whenever the Company makes a purchase, or accepts a contribution, purchase hereunder, it shall have acquired and shall continue to have maintained a valid and perfected ownership interest (free and clear of any Adverse Claim) in all Receivables generated by such Originator and all Collections related thereto, and in such Originator's entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 1 contract

Samples: Purchase and Sale Agreement (First Brands Corp)

Quality of Title. (a) Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by the applicable Originator, free and clear of any Adverse Claim. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim) in all Receivables generated by the applicable Originator and all Collections related thereto, and in such Originator's entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 1 contract

Samples: Purchase and Contribution Agreement (Fruit of the Loom Inc /De/)

Quality of Title. (a) Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by the Originator, free and clear of any Adverse ClaimClaim excepting only Permitted Liens. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim, excepting only Permitted Liens) in all Receivables generated by the Originator and all Collections related thereto, and in the Originator's ’s entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Adesa California, LLC)

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Quality of Title. (a) Each Receivable (together with the Related RightsSecurity) which is to be sold or contributed to the Company hereunder is or shall be owned by Originator, free and clear of any Adverse ClaimLien, other than any Lien arising solely as a result of any action taken by the Company or other Permitted Lien. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse ClaimLien) in all Receivables generated by Originator and all Collections related thereto, and in Originator's entire right, title and interest in and to the other Related Rights Security with respect thereto.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Prosource Inc)

Quality of Title. (a) a. Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by such Originator, free and clear of any Adverse Claim. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim) in all Receivables generated by such Originator and all Collections related thereto, and in such Originator's entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Sequa Corp /De/)

Quality of Title. (a) Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by the Originator, free and clear of any Adverse ClaimClaim excepting only Permitted Liens. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim, excepting only Permitted Liens) in all Receivables generated by the Originator and all Collections related thereto, and in the Originator's entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Adesa Inc)

Quality of Title. (a) Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by the Originator, free and clear of any Adverse ClaimClaim excepting only Permitted Liens. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim, excepting only Permitted Liens) in all Receivables generated by the Originator and all Collections related thereto, and in the Originator's entire right, title and interest in and to the other Related Rights with respect thereto. [ * ].

Appears in 1 contract

Samples: Purchase and Sale Agreement (Allete Inc)

Quality of Title. (a) 1. Each Receivable (together with the Related Rights) which is to be sold or contributed to the Company hereunder is or shall be owned by such Originator, free and clear of any Adverse Claim. Whenever the Company makes a purchase, or accepts a contribution, hereunder, it shall have acquired a valid and perfected ownership interest (free and clear of any Adverse Claim) in all Receivables generated by such Originator and all Collections related thereto, and in such Originator's entire right, title and interest in and to the other Related Rights with respect thereto.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Imo Industries Inc)

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