HAFC definition
Examples of HAFC in a sentence
The Master Servicer initially appoints HAFC to subservice the Receivables.
Payment shall be made by wire transfer of same day funds payable to the account designated by HAFC.
Each Receivable requires the Obligor to obtain such physical loss and damage insurance, naming HAFC and its successors and assigns as loss payee, and with respect to liability coverage, additional insureds, and permits the holder of such Receivable to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to maintain such insurance.
HAFC and the Seller, as applicable, shall deposit or cause to be deposited in the Master Collection Account for distribution to the appropriate Series Collection Account on the Business Day preceding the Determination Date following the date on which such obligations are due the aggregate Repurchase Amount with respect to Repurchased Receivables.
Indication of the Trust's interest in a Receivable shall be deleted from or modified on such computer systems when, and only when, the related Receivable shall have been paid in full or repurchased by HAFC or the Seller.
Solely for the purposes of any action to be taken, or consented to, by Noteholders, any Note registered in the name of HAFC or any Affiliate thereof shall be deemed not to be outstanding; provided, however, that, solely for the purpose of determining whether the Indenture Trustee is entitled to rely upon any such action or consent, only Notes which the Trust Officer of the Indenture Trustee actually knows to be so owned shall be so disregarded.
In consideration of and simultaneously with the repurchase of the Receivables, the Seller shall remit, or cause HAFC to remit, to the related Series Collection Account, the Repurchase Amount in the manner specified in Section 5.4 and the Issuer shall execute such assignments and other documents reasonably requested by such person in order to effect such repurchase.
From time to time after the Closing Date, the Master Servicer may enter into a subservicing agreement with any Person other than HAFC which is an Eligible Subservicer and is in compliance with the laws of each state necessary to enable it to perform the obligations of the Master Servicer pursuant to this Agreement.
Each Receivable requires the Obligor to obtain such physical loss and damage insurance, naming HAFC or any Affiliate of HAFC that is the seller under a Master Receivables Purchase Agreement, as applicable, and its successors and assigns as loss payee, and with respect to liability coverage, additional insureds, and permits the holder of such Receivable to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to maintain such insurance.
The Seller hereby represents and warrants to the Trust that such assignment is valid, enforceable and effective to permit the Trust to enforce such obligations of HAFC under the Master Receivables Purchase Agreements.