Financing Contracts Clause Examples

Financing Contracts. (a) Section 4.26 of the Seller Disclosure Letter includes a list of each Financing Contract as of the date hereof. All Financing Records relating to the Financing Contracts, including any Credit Enhancements with respect thereto, have been furnished or made available for inspection by Purchaser. The Company or a Company Subsidiary has in its possession (i) an executed original or a true, correct and complete copy of any lease, note or chattel paper relating to each Financing Contract, (ii) an executed original or a true, correct and complete copy of all other documents relating to each such Financing Contract and each Credit Enhancement relating thereto and (iii) all other documents reasonably necessary to enforce such Financing Contracts and Credit Enhancements or perfect the security interest thereunder. (b) Each Financing Contract, and each Credit Enhancement relating thereto, is valid, binding and enforceable by the Company or the appropriate Company Subsidiary against the lessee, obligor or borrower thereunder in accordance with its written terms, except as may be limited by the Bankruptcy Exception, and (ii) arose out of a bona fide business transaction entered into in the ordinary course of business; provided, however, that Seller makes no representation or warranty with respect to the ability of the obligor under any Financing Contract or Credit Enhancement to discharge its payment obligations thereunder. (i) There are no payments under any Financing Contract that are more than 90 days past due as of December 1, 1998, (ii) the Company or the appropriate Company Subsidiary is not in breach or default of any of its material obligations under any Financing Contract or Credit Enhancement related thereto and (iii) neither the Company nor any Company Subsidiary has received any notice of (A) any event other than a payment default which is, or with notice and/or lapse of time would constitute, a material default under any Financing Contract or Credit Enhancement related thereto by any other party thereto or (B) any claim that any obligation to the Company or the appropriate Company Subsidiary under any Financing Contract or Credit Enhancement related thereto is subject to any defense, offset, claim, right of rescission or counterclaim of any party.

Financing Contracts. Except as would not have a Company Material Adverse Effect: (a) Each Financing Contract and each related Credit Enhancement is valid, binding and enforceable, by the applicable Target Company, Securitization Depositor or Securitization Issuing Entity, as the case may be, against the obligor or borrower thereunder in accordance with its respective written terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws of general applicability relating to or affecting creditors' rights and to general equity principles. (i) Each Financing Contract and each related Credit Enhancement is, in full force and effect, free and clear of Encumbrances other than Permitted Encumbrances and Encumbrances arising in connection with any Securitization Transaction or under any Securitization Instrument; (ii) each Target Company or Securitization Issuing Entity, as the case may be, has in its possession or control the notes and other documentation comprising each Financing Contract and each related Credit Enhancement reasonably necessary to enforce the rights of such Target Company or Securitization Issuing Entity, as the case may be, with respect to such Financing Contract, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws of general applicability relating to or affecting creditors' rights and to general equity principles; and (iii) all payments by the obligor or borrower under each Financing Contract are made to or for the benefit of a Target Company or Securitization Issuing Entity, as the case may be. (c) With respect to each Financing Contract, the applicable Target Company or Securitization Issuing Entity, as the case may be, has a valid and enforceable security interest in any collateral subject thereto, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws of general applicability relating to or affecting creditors' rights and to general equity principles, as and to the extent required by such Target Company's or the applicable Securitization Originator's respective credit or investment approval with respect to such Financing Contract.

Financing Contracts. (a) Except as set forth in Section 3.21(a) of the Disclosure Schedule, to Seller's Knowledge, each Financing Contract, Credit Enhancement and, with respect to any Mortgage Loan set forth on the Mortgage Loan Schedule, each Loan Document (i) is valid, binding and enforceable by a Purchased Entity or an Asset Seller (and, after giving effect to the Acquisition, the Purchaser or the applicable Acquiring Subsidiaries) against the Obligor thereunder, in the case of a Financing Contract or, in the case of a Credit Enhancement or Loan Document, the obligor thereunder, in each case, in accordance with its written terms (except as may be limited by the Bankruptcy Exception), and (ii) constitutes and arose out of a bona fide business transaction entered into in the ordinary and usual course of business of such Asset Seller or Purchased Entity (as applicable), consistent with its past practices. All amendments, modifications, waivers, extensions, cancellations and releases in respect of any Financing Contract are in writing and, except for any such documents entered into in connection with a Syndicated Facility (and only to the extent copies of which documents have not been received by a Purchased Entity or an Asset Seller), are maintained in hard copy or are stored electronically in the Legal/Credit Files for such Financing Contract. 66 (b) Except as set forth in Section 3.21(b) of the Disclosure Schedule, (i)(A) each Financing Contract, Credit Enhancement (other than Portfolio Property) and with respect to any Financing Contract that is a Mortgage Loan, Loan Document is, or as of the Closing Date will be, in full force and effect, free and clear of all Encumbrances other than Permitted Encumbrances, and (B) to Seller's Knowledge, no Financing Contract, Credit Enhancement (other than Portfolio Property) or, with respect to any Financing Contract that is a Mortgage Loan, Loan Document is subject to any valid defense, offset, claim, right of rescission or counterclaim (other than non-appropriation with respect to Financing Contracts with Governmental Authorities containing non-appropriation clauses) by the Obligor under such Financing Contract or Loan Document, in the case of a Financing Contract or Loan Document, or by the obligor thereunder, in the case of a Credit Enhancement, or any Person claiming under any such right; (ii) as of July 31, 2003 and as of the Cut-Off Date (A) to Seller's Knowledge, no Asset Seller and no Purchased Entity (to the extent that it is a...

Financing Contracts not regulated by the Consumer Credit Act 1974

Financing Contracts. (1) Agreement by and between Taian AGS Pipeline Construction Co. Ltd. and the Bank of China, dated August 1, 2014.

Financing Contracts. Leased Property...

Financing Contracts. The typical HP Agreement amortises on the basis of fixed monthly instalments of equal amounts over a 6 to 60 month instalment period. Similarly, the typical LP Agreement also amortises on the basis of fixed monthly instalments, but unlike an HP Agreement it requires a substantial portion of the outstanding amount to be repaid in a single Final Rental Amount at maturity of the LP Agreement. The typical PCP Agreement also amortises on the basis of fixed monthly instalments of equal amounts over a 6 to 60 month instalment period, with a substantial portion of the outstanding amount under the PCP Agreement being repaid in a single Final Rental Amount at maturity. This Final Rental Amount is substantially greater than the previous monthly instalments. However, unlike the terms of a typical LP Agreement, the Obligor under a PCP Agreement is not required to pay the Final Rental Amount. Under the terms of a PCP Agreement an Obligor may, after payment of an additional "option to purchase" fee, choose to: (a) settle the contract by paying the Final Rental Amount and retaining the Financed Object; or (b) return the Financed Object in full and final settlement of the Financing Contract. By deferring the repayment of a substantial portion of the outstanding amount of the LP Agreement and the PCP Agreement until the final redemption date, the risk of non-payment of the final instalment under an LP Agreement or a PCP Agreement is greater than would be the case under an HP Agreement where instalments are generally of equal size.

Financing Contracts. Financial Agreements generally have no amount-financed-to-value ratio (AFVR) limit. However, coverage on all Financing Contracts held by the Dealer and never assigned to a subsequent Financial Institution will be limited to 125% of MSRP for New Vehicles or 125% of NADA Official Used Car Guide's "Retail" value for Used Vehicles, at the inception date of the Financing Contract. These Financing Contracts will not be disqualified from coverage; however, the amount by which the amount financed exceeds 125% of MSRP for New Vehicles or 125% of NADA Official Used Car Guide's "Retail" value for Used Vehicles will be subtracted from the Net Payoff.

Financing Contracts. The Company is not a party to and does not owe any amounts to any Third Parties under any loan, financing and leasing agreements.