Receivables File Sample Clauses
The Receivables File clause defines the requirement for one party to provide a detailed record of outstanding receivables, typically in connection with a financing or factoring arrangement. This file usually includes information such as invoice numbers, amounts due, payment dates, and debtor details, and must be updated and delivered at specified intervals or upon request. Its core function is to ensure transparency and enable the receiving party to monitor, verify, and manage the receivables that are subject to the agreement, thereby reducing the risk of disputes and facilitating efficient administration.
Receivables File. With respect to such Receivable, the related Receivables File contains, in all material respects, the documents required to be contained therein pursuant to this Agreement.
Receivables File. Seller, in conjunction with the payment of the Purchase Price, shall forward, by overnight courier for next business-day delivery, or in person, to Buyer the following with respect to each Receivable:
(i) The original Contract. If the original contract is unavailable, Seller must provide the electronic version stamped on each page of the contract "True and Correct Copy of the Original" and signed by an officer verifying such with a notary.
(ii) Obligor credit files including the original application, credit investigation and such other credit information contained therein, or copies of same if the original of such document is not available.
(iii) The title file, which shall include the Certificate of Title (to the extent the state of origin has such Certificate of Title or notice of recorded lien on Seller's name) for the Financed Vehicle.
(iv) The Servicing File, including Obligor payment and collection records.
(v) Obligor insurance files, including without limitation property insurance insuring the Financed Vehicle, gap insurance, warranties, and such other insurance information contained therein, or copies of same if the original of such document is not available.
(vi) The ▇▇▇▇ of Sale with respect to the Financed Vehicle.
(vii) Any other documents related to the Financed Vehicle or the Obligor that Buyer may reasonably require.
Receivables File. Seller, in conjunction with the payment of the Purchase Price, shall forward, by overnight courier for next business-day delivery, to Buyer the following with respect to each Receivable:
(i) The original Contract.
(ii) Obligor credit files including the original application, credit investigation and such other credit information contained therein, or copies of same if the original of such document is not available.
(iii) The title file, which shall include the Certificate of Title (to the extent the state of origin has such Certificate of Title or notice of recorded lien on Seller’s name) except with respect to the Contracts listed on Exhibit H, for the Financed Vehicle.
(iv) The Servicing File, including Obligor payment and collection records.
(v) Obligor insurance files, including without limitation property insurance insuring the Financed Vehicle, gap insurance, warranties, and such other insurance information contained therein, or copies of same if the original of such document is not available.
(vi) The ▇▇▇▇ of Sale with respect to the Financed Vehicle.
(vii) Any other documents related to the Financed Vehicle or the Obligor that Buyer may reasonably require.
(viii) REMEDY FOR FAILURE TO DELIVER RECEIVABLES FILE. In the event Seller fails to deliver, with respect to any particular Receivable, the Receivables File to the reasonable satisfaction of Buyer and in accordance with Section 10.2(d), Seller may at its sole option require Seller to immediately repurchase such Receivable. If Buyer requires Seller to immediately repurchase such Receivable, Seller shall repurchase such Receivable and the Related Security by paying to Buyer the Repurchase Price in good funds within two (2) Business Days following Buyer’s notice hereunder. In the event Seller is required to repurchase the Contract hereunder, Buyer shall deliver to Seller, upon payment by the Seller of the Repurchase Price, the related Contract File and shall assign to Seller all of Buyer’s right, title, and interest in and to the related Conveyed Property, free and clear of any and all claims, liens, and encumbrances, except for those which existed at the time of Buyer’s purchase thereof from Seller.
Receivables File. The Receivables File and Pledged Receivables Collateral relating to Receivables subject to a proposed Advance (other than those Receivables Files relating to the Aruba Receivables that the Lender has in its possession as of the date hereof) shall have been delivered to the Custodian.