Purchased Property definition

Purchased Property. As defined in Section 2.01(a) of the Pooling Agreement.

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Purchased Property means (a) the Receivables, (b) all amounts received and applied on the Receivables on or after the Cutoff Date, (c) the security interests in the Financed Vehicles granted by Obligors under the Receivables and any other interest of Ford Credit in the Financed Vehicles, (d) rights to receive proceeds from claims on insurance companies for insurance covering the Financed Vehicles or Obligors, (e) recourse rights against the originating Dealer of the Receivables, (f) the Receivable Files, (g) all property securing the Receivables, (h) refunds for items originally included in the Amount Financed, including service contracts, insurance and similar products, (i) all present and future claims, demands, causes of action and choses in action relating to any of the property described above and (j) all payments on or under and all proceeds of the property described above.

Purchased Property means (a) the Receivables, (b) all amounts received and applied on the Receivables on or after the Cutoff Date, (c) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of Ford Credit in the Financed Vehicles, (d) rights to receive proceeds from claims on any physical damage, credit life, credit disability or other insurance policies covering Financed Vehicles or Obligors, (e) Dealer Recourse, (f) the Receivables Files, (g) all property securing the Receivables, (h) rebates of premiums and other amounts relating to insurance policies and other items financed under the Receivables in effect as of the Cutoff Date, (i) all present and future claims, demands, causes of action and choses in action in respect of any of the foregoing, and (j) all payments on or under and all proceeds in respect of any of the foregoing.

Examples of Purchased Property in a sentence

• In consideration for the Purchased Property, the Depositor will pay to the Sponsor (i) $1,299,409,832.00 on the Closing Date and (ii) a deferred purchase payment on each Payment Date in an amount equal to the Excess Exchange Note Amounts for such Payment Date (for application as Revolving Facility Pool Additional Amounts in the priority stated in Section 7.2 of the Credit and Security Agreement).

• The Sponsor will defend the Depositor's interest in the Purchased Property against claims of third parties claiming through the Sponsor.

• The Sponsor will pay all expenses to perform its obligations under this Agreement and the Depositor's reasonable expenses to perfect the Depositor's interest in the Purchased Property and to enforce the Sponsor's obligations under this Agreement.

• The Depositor and the Sponsor each represents and warrants to the other that the amount paid by the Depositor on the Closing Date, together with the Excess Exchange Note Amounts on each Payment Date and the increase in the value of the Sponsor's capital in the Depositor, is equal to the fair market value of the 2026-A Exchange Note and the other Purchased Property.

• Except for the sale and assignment under this Agreement, the Sponsor will not sell or assign any Purchased Property to another Person or Grant or allow a Lien on an interest in any Purchased Property.

More Definitions of Purchased Property

Purchased Property means (a) the 2018-B Exchange Note, (b) all amounts paid or due on the 2018-B Exchange Note on or after the Cutoff Date, (c) Ford Credit’s rights under the Credit and Security Agreement, the Exchange Note Supplement, the Servicing Agreement and the Servicing Supplement related to the 2018-B Exchange Note, (d) all present and future claims, demands, causes of action and choses in action relating to any of the property described above and (e) all payments on or under and all proceeds of the property described above.

Purchased Property means the Receivables and related property described in Section 2.1(a) of the Purchase Agreement.

Purchased Property. As of any date, means all of the Designated Receivables and the Related Security transferred by NFC to NFRRC pursuant to Section 2.01 of the Purchase Agreement as of such date.

Purchased Property means, with respect to a Collection Period, an undivided percentage interest equal to the Purchase Percentage in (i) all Receivables that are sold or intended to be sold to the Company under this Agreement during such Collection Period, (ii) all Related Security relating to such Receivables and (iii) all Collections with respect to, and other proceeds of such Receivables.

Purchased Property means (a) the Receivables, (b) all amounts received and applied on the Receivables on or after the Cutoff Date, (c) the security interests in the Financed Vehicles granted by Obligors under the Receivables and any other interest of Ford Credit in the Financed Vehicles, (d) rights to receive proceeds from claims on insurance companies for insurance covering the Financed Vehicles or Obligors, (e) Dealer Recourse for the Receivables, (f) the Receivable Files, (g) all property securing the Receivables, (h) refunds for items originally included in the Amount Financed, including service contracts, insurance and similar products, (i) all present and future claims, demands, causes of action and choses in action relating to any of the property described above and (j) all payments on or under and all proceeds of the property described above.

Purchased Property is the property of Seller to be sold to Purchaser pursuant to this Agreement as set forth in Section 2.2 hereof.

Purchased Property shall have the meaning set forth in Section 2.1(a) hereof;