FTL Note definition

FTL Note has the meaning set forth in Section 3.1 of the Purchase and Contribution Agreement.
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Examples of FTL Note in a sentence

  • On each Purchase Report Date with respect to purchases and payments made during the immediately preceding month, Servicer shall make all appropriate record keeping entries with respect to the FTL Notes or otherwise to reflect the foregoing payments and adjustments pursuant to Section 3.4, and Servicer's books and records shall constitute rebuttable presumptive evidence of the principal amount of and accrued interest on each FTL Note at any time.

  • Seller shall not amend, supplement, amend and restate, or otherwise modify the Purchase and Contribution Agreement, any FTL Note, any Account Agreement, any Lockbox Agreement, any agreement between a Lockbox Bank and Seller and/or Union which is referred to in any Lockbox Agreement, or Seller's certificate of incorporation or by-laws, except (A) in accordance with the terms of such document, instrument or agreement and (B) with the advance written consent of the Agent.

  • In the event that an Originator has paid (including, without limitation, by credit against the Purchase Price or reduction in the applicable FTL Note) to the Company the full Unpaid Balance of any Receivable pursuant to Section 3.4, the Company shall reconvey such Receivable and Related Rights with respect thereto to the applicable Originator, without representation or warranty, but free and clear of all liens created by the Company.

  • Each Originator hereby irrevocably authorizes Servicer to mark ▇▇▇ FTL Note given to such Originator "CANCELLED" and to return such FTL Note to the Company upon the final payment thereof after the occurrence of the Purchase and Sale Termination Date with respect to such Originator.

  • The Borrower shall not incur or maintain any Debt, other than: (a) the Obligations; (b) trade payables and contractual obligations to suppliers and customers incurred in the ordinary course of business; (c) the FTL Note; and (d) other Debt existing on the Closing Date and reflected in the Financial Statements attached hereto as EXHIBIT B.

  • Furthermore, Servicer shall hold each FTL Note for the benefit of the applicable Originator, and all payments under each FTL Note shall be made to the Servicer for the account of the applicable payee thereof.