Common use of Reasonable Equivalent Value Clause in Contracts

Reasonable Equivalent Value. The Transferor has given reasonably --------------------------- equivalent value to each Eligible Originator in consideration for the transfer to the Transferor of the applicable Receivables and Collections and Related Security, if any, from such Eligible Originator, and each such transfer shall not have been made for or on account of an antecedent debt owed by such Eligible Originator to the Transferor. The Transferor has received reasonably equivalent value in consideration for the transfer to the Trust of the Receivables and Collections and Related Security, if any, and will have received reasonably equivalent value in consideration for the sale of the Senior Certificates (and any sale of additional interests in the Trust in connection with any Additional Investor Amount) to the Senior Class Conduits and the Bank Investors.

Appears in 1 contract

Sources: Certificate Purchase Agreement (Saks Credit Card Master Trust)

Reasonable Equivalent Value. The Transferor has given reasonably --------------------------- equivalent value to each Eligible Originator in consideration for the transfer to the Transferor of the applicable Receivables and Collections and Related Security, if any, from such Eligible Originator, and each such transfer shall not have been made for or on account of an antecedent debt owed by such Eligible Originator to the Transferor. The Transferor has received reasonably equivalent value in consideration for the transfer to the Trust of the Receivables and Collections and Related Security, if any, and will have received reasonably equivalent value in consideration for the sale of the Senior Certificates (and any sale of additional interests in the Trust in connection with any Additional Investor Amount) to the Senior Class Conduits and the Bank Investors.

Appears in 1 contract

Sources: Certificate Purchase Agreement (Saks Inc)