Examples of Reconveyed Assets in a sentence
Buyer shall or shall direct Servicer to, as soon as practicable following receipt thereof, turn over to Originator any cash collections or other cash proceeds received with respect to any obligations owing to Originator which obligations do not constitute Receivables or Related Security or Collections in respect thereof, including, without limitation, funds that represent payments in respect of Reconveyed Assets, PST or services rendered in Canada.
Notwithstanding anything contained in this Agreement, following the reconveyance of any Reconveyed Assets, the relevant Reconveyed Assets shall be deemed not to form part of the Receivables, Related Security, Collections, Records, Contracts or other rights and documents relating to such Reconveyed Assets sold, transferred assigned to the Buyer or in respect of which other rights were assigned to the Buyer under this Agreement.
The Servicer shall, as soon as practicable following receipt thereof turn over to Seller, or such Person as the Seller may direct the Servicer, any cash collections or other cash proceeds received with respect to any obligations owing to Seller or any Originator which obligations do not constitute Receivables, including, without limitation, funds that represent payments in respect of any Reconveyed Assets, PST or payments made in respect of services rendered in Canada by JD-Canada.
NYFM agrees that prior to May 31, 1998 it will determine what portion of the Conveyed Assets will be conveyed back to Seller (collectively, the "Reconveyed Assets"; the Conveyed Assets minus the Reconveyed Assets are, the "Assets").
The Trustee and the Receivables Seller Parties each hereby acknowledges and agrees that each of Funding, Redwood and GECC, as a party responsible for funding the Payoff Amount and an assignee of the Originator with respect to its interests in the Reconveyed Assets, is funding such Payoff Amount in reliance on the representations made by such parties and the releases contemplated herein.
Nothing contained in this Agreement shall alter or affect Seller's retention of the Retained Liabilities pertaining to the Reconveyed Assets and the Held Back Assets pursuant to Section 2.6 of the Amended Purchase Agreement.