BFF definition
Examples of BFF in a sentence
Upon discovery by the Seller or BFF of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other party, the Servicer, the Owner Trustee and the Indenture Trustee following such discovery.
From the date of the creation of the Trust through the date of the effectiveness of this Agreement, BFF is and has been the sole Beneficiary of the Trust.
Transfers of all or a portion of the Beneficial Interest may be made between BFF and any other Person who is an Affiliate of BFF (a “Permitted Affiliate Transferee”) upon delivery to the Owner Trustee of an Issuer Tax Opinion with respect to such Transfer.
To the extent that it is not clear to the Seller whether collections relate to a Receivable that was sold to BFF or to a receivable that the Seller is unable to sell to BFF, the Seller agrees that it shall allocate payments on such Accounts in the aggregate with respect to the principal balance of such Accounts first to the oldest principal balances of such Accounts.
On or prior to the seventh (7th) Business Day following the Removal Date, the Seller shall deliver or cause to BFF a supplement to the RPA Account Schedule, specifying for each such Removed Account as of the Removal Date, its account number and the aggregate amount of Receivables in such Removed Account.
The Seller further agrees, at its own expense, on or prior to the [Initial Transfer Date][Addition Date] to indicate in its books and records (including its computer files) that Receivables created in connection with the [Initial][Additional] Accounts and the [Initial][Additional] Purchased Assets have been sold to BFF.
BFF is duly qualified to do business and is in good standing and has obtained all necessary licenses and approvals, in each jurisdiction in which failure to so qualify or to obtain such licenses and approvals would have a material adverse effect on this Agreement or the transactions contemplated hereby or on the ability of BFF to perform its obligations under this Agreement.
Notwithstanding any cessation of the sale to BFF of additional Principal Receivables, Principal Receivables sold to BFF prior to the occurrence of the Transfer Restriction Event, Finance Charge Receivables whenever created that accrue in respect of such Principal Receivables, Collections in respect of such Principal Receivables and such Finance Charge Receivables, Interchange and Merchant Discount Fees allocable to the foregoing shall continue to be property of BFF.
The parties to this Supplemental Conveyance intend that the conveyance of the Seller’s right, title and interest in, to and under the [Initial][Additional] Purchased Assets shall constitute an absolute sale, conveying good title free and clear of any liens, claims, encumbrances or rights of others, from the Seller to BFF.
If a Transfer Restriction Event occurs, the Seller agrees (except as prohibited by any order of any Governmental Authority or any Requirement of Law) to allocate and pay to BFF, after the date of such Transfer Restriction Event, all Collections with respect to Receivables previously sold to BFF.