ACFS definition
Examples of ACFS in a sentence
Each Purchaser and each subsequent holder of any Note by its acceptance thereof, hereby designates and appoints ACFS as Agent hereunder and authorizes ACFS to take such actions as agent on its behalf and to exercise such powers as are delegated to Agent by the terms of this Agreement and the other Purchase Documents, together with such powers as are reasonably incidental thereto.
Actual Losses to Date ACFS will provide, on a monthly basis, actual realized losses for each Designated Term Series.
To the extent not paid by ACFS, such fees, expenses and disbursements will be paid to the Master Collateral Agent in accordance with the provisions of Section 6.
If FSA is not the Controlling Party, to the extent ACFS is no longer the Servicer for any Designated Series and ACFS has control over the appointment of a successor servicer with respect to such Designated Series under the related Series Transaction Documents, ACFS shall consult with the Administrative Agent prior to the appointment of any successor servicer.
If FSA is not the Controlling Party, to the extent ACFS has control over the appointment of the trustee of any Designated Series (initial and any successor trustee), if such trustee is to be a Person other than Bank One, N.A., ACFS shall not appoint such trustee until ACFS has received the prior written consent of the Administrative Agent.
The Borrower, ACAS, and ACFS are parties to a Note and Equity Purchase Agreement dated as of June 23, 2004 (as amended to date, the “Agreement”), pursuant to which ACAS purchased from the Borrower certain Senior Term B Notes; certain Senior Subordinated Notes; and certain Junior Subordinated Notes.
The Borrowers and ACFS will (i) pay or cause to be paid to the Lender Collateral Agent all Asset Backed Security Distributions with respect to Asset Backed Securities constituting Revolver Collateral, (ii) pay or cause to be paid to the Master Collateral Agent all Shared Collateral Distributions and (iii) cause AFS Funding Trust to pay to the Master Collateral Agent (A) all amounts paid to it pursuant to the Spread Account Agreement and (B) all distributions in respect of the AFSFT Class A Certificate.
ACFS shall not enter into, or permit AFS Funding Trust to enter into, a transaction creating an FSA Series unless, upon issuance, such FSA Series is a "Designated FSA Series" under the Master Collateral and Intercreditor Agreement.
ACFS shall not enter into any transaction creating a Series which is cross-collateralized with any FSA Series unless such cross-collateralization is pursuant to the Spread Account Agreement.
Each of ACFS and the Borrowers will hold in trust for the Master Collateral Agent and will promptly deposit (but in no event later than one Business Day after receipt) any amounts it receives in respect thereof in the Collateral Account.