Examples of Receivables Purchase Agreement in a sentence
Except as otherwise permitted in the Receivables Purchase Agreement (including in accordance with the applicable Credit and Collection Guidelines), not extend the maturity or adjust the Outstanding Balance downward or otherwise modify the payment terms of any Sold Receivable in any material respect, or amend, modify or waive, in any material respect, any term or condition of any related Contract (which term or condition relates to payments under such Contract).
The “Purchase and Sale Termination Date” for each Originator shall be the earlier of (i) date the Purchase Facility is terminated with respect to such Originator pursuant to Section 8.2 or (ii) the Facility Termination Date (as such term is defined in the Receivables Purchase Agreement).
As used in this Agreement, “Purchase and Sale Termination Event” means with respect to an Originator, the occurrence of any Termination Event (as such term is defined in the Receivables Purchase Agreement) under clause (g) of the definition thereof, related to such Originator.
No effective financing statement covering any Sold Receivables or Related Security sold or contributed by such Originator is on file in any recording office, except those filed in favor of the Company pursuant to this Agreement and the Administrator (as the Company’s assignee) pursuant to the Receivables Purchase Agreement.
Each Originator and the Servicer hereby agrees that it will not institute, or join any other Person in instituting, against the Company any Insolvency Proceeding so long as any obligations of the Company pursuant to the Receivables Purchase Agreement or any other Transaction Document remains outstanding and until one year plus one day following the day on which such obligations are paid in full.