Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trust to be evidenced by any instrument (as defined in the UCC) and, if any such Receivable is so evidenced as a result of any action taken by such Transferor, it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.7(a) and shall be reassigned to such Transferor in accordance with subsection 2.7(b).
Appears in 8 contracts
Samples: Transfer Agreement (American Express Receivables Financing Corp VIII LLC), Transfer Agreement (American Express Receivables Financing Corp VIII LLC), Transfer Agreement (American Express Receivables Financing Corp VIII LLC)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trust Trustee to be evidenced by any instrument (as defined in the UCC) and, and if any such Receivable is so evidenced as a result of any action taken by such Transferor, Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.7(a2.05(a) and shall be reassigned to such Transferor in accordance with subsection 2.7(b2.05(b).
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such the Transferor will take no action to cause any Receivable in which an undivided interest is conveyed by it to the Trust hereunder to be evidenced by any instrument (as defined in the UCC) and, and if any such Receivable is so evidenced as a result of any action taken by such Transferorevidenced, it shall be deemed treated as a Receivable which is subject to be an Ineligible Receivable in accordance with subsection 2.7(aSection 2.9 (b) and shall be reassigned to such Transferor in accordance with subsection 2.7(b)hereof.
Appears in 2 contracts
Samples: Transfer and Administration Agreement (Compucredit Corp), Transfer and Administration Agreement (Compucredit Corp)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trust to be evidenced by any instrument (as defined in the UCC) and, and if any such Receivable (or any underlying receivable) is so evidenced as a result of any action taken by such Transferor, it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.7(aSection 2.05(a) and shall be reassigned to such Transferor in accordance with subsection 2.7(bSection 2.05(b).
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (HSBC Credit Card Master Note Trust (Usa) I), Transfer and Servicing Agreement (HSBC Private Label Credit Card Master Note Trust (Usa) I)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trust to be evidenced by any instrument (as defined in the UCC) and, and if any such Receivable (or any underlying receivable) is so evidenced as a result of any action taken by such Transferor, it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.7(a2.05(a) and shall be reassigned to such Transferor in accordance with subsection 2.7(b2.05(b).
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Signet Jewelers LTD), Transfer and Servicing Agreement (Signet Group PLC)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such the Transferor will take no action to cause any Receivable conveyed by it to the Trust to be evidenced by any instrument or chattel paper (as defined in the UCC) and, if any such Receivable is so evidenced as a result of any action taken by such the Transferor, it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.7(aSection 2.6(a) and shall be reassigned to such the Transferor in accordance with subsection 2.7(bSection 2.6(b).
Appears in 2 contracts
Samples: Transfer Agreement (Dryrock Issuance Trust), Transfer Agreement (Dryrock Issuance Trust)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such Transferor will take no action to cause any Receivable conveyed by it to the Trust Issuer to be evidenced by any instrument (as defined in the UCC) and, and if any such Receivable is so evidenced as a result of any action taken by such Transferor, of the Transferor it shall be deemed to be an Ineligible Receivable in accordance with subsection 2.7(aSection 2.05(a) and shall be reassigned to such Transferor treated in accordance with subsection 2.7(bSection 2.05(b).
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Compucredit Corp)
Receivables Not To Be Evidenced by Promissory Notes. Except in connection with its enforcement or collection of an Account, such the Transferor will take no action to cause any Receivable in which an undivided interest is conveyed by it to the Trust hereunder to be evidenced by any instrument (as defined in the UCC) and, and if any such Receivable (or any underlying receivable) is so evidenced as a result of any action taken by such Transferorevidenced, it shall be deemed treated as a Receivable which is subject to be an Ineligible Receivable in accordance with subsection 2.7(aSection 2.9 (b) and shall be reassigned to such Transferor in accordance with subsection 2.7(b)hereof.
Appears in 1 contract
Samples: Transfer and Administration Agreement (Compucredit Corp)
