Examples of Conveyed Collateral in a sentence
The Transferor makes the following covenants, on which the Issuer will rely in connection with the conveyance of Initial Conveyed Collateral and any Subsequent Conveyed Collateral to the Issuer.
The Transferor will treat the applicable transfers of the Conveyed Collateral to the Issuer for all purposes as a sale and purchase as set forth in Section 3.1(i) (or, in the case of the Initial Conveyed Collateral and prior to the applicable Elevation Date only, a participation interest in the applicable Initial Conveyed Collateral).
The Transferor has no right to any surplus and is not liable for any deficiencies with respect to any Conveyed Collateral or the distributions received thereunder.
The Transferor shall promptly remit to the Issuer or to the Issuer’s designee any payment of principal, interest, fees or any other sums relating to, or otherwise payable on account of, the Conveyed Collateral that the Transferor receives after the applicable Elevation Date or Settlement Date.
Neither the Transferor nor any of its Affiliates sold or will sell any interest in any Conveyed Collateral with any intent to hinder, delay, deceive or defraud any of their respective creditors.
The obligors or agents on the Conveyed Collateral were or will be notified of the transfer of the Conveyed Collateral to the Issuer to the extent required under the applicable Underlying Documents.
This Agreement and each Subsequent Transfer Agreement, if any, shall effect a valid sale, transfer and assignment of, or Grant of a security interest in, the Conveyed Collateral being so transferred, conveyed and assigned from the Transferor to the Issuer, enforceable against the Transferor and creditors of and purchasers from the Transferor.
With respect to each Collateral Obligation transferred hereunder as part of the Conveyed Collateral, within five Business Days after the related Elevation Date or Settlement Date, the Transferor will deliver or cause to be delivered to the Custodian, to the extent not previously delivered, each of the Required Documents with respect to such Collateral Obligations.
The Transferor will procure that any balance sheet or financial statement that identifies or itemizes the Conveyed Collateral will comply with the requirements of Section 3.1(i).
Such representations and warranties shall survive the sale, transfer and assignment of the Conveyed Collateral to the Issuer hereunder or under a Subsequent Transfer Agreement, as applicable.