Owned Contracts definition

Owned Contracts is defined in the Recitals of the Purchase Agreement.
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Owned Contracts means the receivables for the purchase of new or used automobiles, trucks, vans, and sport utility vehicles that originally secured the senior bank debt of FMAC and were purchased by credit bid of the agent for the holders of the senior bank debt and then sold to the Contract Purchaser.
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Examples of Owned Contracts in a sentence

  • Insofar as the grant above relates to Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the Owned Contracts and related property pursuant to the Liquidity Receivables Purchase Agreement.

  • The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHCA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHCA set forth in Section 6.2 of this Agreement.

  • The parties to this Agreement acknowledge and agree that, except as set forth in Section 5.5 of this Agreement, the sole remedy for any breach of any representation or warranty made by CNHICA to CNHCR at any time as to the Owned Contracts and related property will be the repurchase obligation of CNHICA set forth in Section 6.2 of this Agreement.

  • Insofar as the grant above relates to CNHCA Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the CNHCA Owned Contracts and related property pursuant to the CNHCA Liquidity Receivables Purchase Agreement.

  • Insofar as the grant above relates to NH Owned Contracts and related property, it is made for administrative convenience and is not intended to derogate from the prior conveyance of the NH Owned Contracts and related property pursuant to the NH Liquidity Receivables Purchase Agreement.

  • Pursuant to the FMAC Plan, at the option of the Company and subject to certain conditions, the Company may distribute the Stock Option Shares to FMAC or at the request of FMAC and pursuant to its instructions directly to the unsecured creditors of FMAC, in lieu of FMAC's right to receive all or a portion of distributions under the Excess Collections Split (including both recoveries under the Excess Collections Split from the Owned Contracts and the B Pieces) in cash.

  • In the event that Cygnet is then servicing the Owned Contracts and the Securitized Pools, Cygnet agrees to advise the Company at least 20 days prior to the date upon which cash distributions under the Excess Collections Split are likely to begin and to provide the Company with an estimate as to the likely amount and timing of such cash distributions.

  • The foregoing sale does not constitute and is not intended to result in any assumption by CNHCR of any obligation of the undersigned to the Obligors, insurers or any other person in connection with the Purchased Contracts or Owned Contracts, Receivables Files, any insurance policies or any agreement or instrument relating to any of them.

  • It is the intention of NH Credit that the transfers and assignments contemplated in the NH Liquidity Receivables Purchase Agreement constituted a sale of the NH Owned Contracts from NH Credit to CNHCR and that the beneficial interest in and title to the NH Owned Contracts not be part of the debtor’s estate in the event of the filing of a bankruptcy petition by or against NH Credit under any bankruptcy or similar law.

  • The guidelines associated with non-financial transactions includes: • Anti-Money Laundering • Clean Desk • Community Property • Custodial Owned Contracts • Exception and Escalations • Marketing Administration Correspondence • Not In Good Order (NIGO) • OFAC Homeland Tracker • Return Mail • Signatures • W9 Certification IVR Service Provide the ability to retrieve account information and route calls via the phone.