Ineligible Receivables. Without the prior written approval of the Purchaser, take any action which to its knowledge would cause, or would permit, a Receivable that was designated as an Eligible Receivable on the Purchase Date relating to such Receivable to cease to be an Eligible Receivable, except as otherwise expressly provided by this Agreement.
Ineligible Receivables. The Seller agrees to repurchase on each Settlement Date, and the Purchasers agree to sell to the Seller on such date and in accordance with the terms hereof, any Purchased Receivable if such Receivable is (i) an Ineligible Receivable, (ii) an Existing Certified Receivable in respect of which the Old Administrative Agent shall not have received on or prior to the Certified Opinion Delivery Date (x) an opinion of foreign counsel satisfying the requirements of subsection 2.27(c) or (y) evidence of the filings, if any, referred to in subsection 6.1(n)(i) or (iii) an Existing Receivable in respect of which the Old Administrative Agent shall not have received on or prior to the FAA Filing Date evidence of the filings, if any, referred to in subsection 6.1(n)(ii) provided that, during the Amortization Period, the Purchasers, by unanimous consent, in their sole discretion may choose not to sell any Receivable referred to in clauses (i), (ii) or (iii) to the Seller. The Seller shall make such repurchase on the Settlement Date first succeeding the earlier of (x) the date on which the Seller becomes aware of facts and circumstances giving rise to such event of ineligibility or (y) the date on which the Managing Facility Agent notifies the Seller that such event of ineligibility has occurred and is continuing. Subject to subsections 2.13 and 2.15(b), the Seller shall make such repurchase by depositing in the Concentration Account cash in an amount equal to the Repurchase Price for such Ineligible Receivable at the date such deposit is made, except to the extent (without duplication) of any payment made pursuant to subsection 2.18, for the Settlement Period during which such interest accrued and was not paid by the Obligor under such Contract. The amount of any such deposit shall be applied and distributed in accordance with subsections 2.15 and 2.16. Except as provided in subsection 9.1, the sole obligation of the Seller with respect to an Ineligible Receivable of the type described in clause (i) of this subsection 2.11 shall be the requirement to repurchase or substitute for such Receivable pursuant to this subsection 2.11 or subsection 2.13, respectively.
Ineligible Receivables. Without the prior written approval of the Company, take any action to cause, or which would permit, a Receivable that was designated as an Eligible Receivable on the Payment Date relating to such Receivable to cease to be an Eligible Receivable, except as otherwise expressly provided by this Agreement.
Ineligible Receivables. If from time to time Ineligible Receivables are assigned to the Receivables Trustee as a result of a breach of representation by the Transferor or any Additional Transferor pursuant to Clause 17.2 or 17.3 of the RSA, payments to the Transferor or such Additional Transferor in respect thereof were incorrectly funded by the Beneficiaries on the basis that such Receivables were Principal Receivables which are Eligible Receivables. Notwithstanding the remedies available to the Receivables Trustee pursuant to the RSA, in such circumstances the Receivables Trustee shall ensure that such error is corrected by:
Ineligible Receivables. 24 6.10 Business of the Originator...................................... 24 6.11 Limitation on Fundamental Changes............................... 24 6.12 Offices......................................................... 25 6.13 Constitutive Documents.......................................... 25 6.14 Amendment of Transaction Documents or Other Material Documents....................................................... 25
Ineligible Receivables. For each Receivable that did not constitute an Eligible Receivable on the Closing Date in violation of the representation of the Seller in Section 4.2(b) hereof, the Seller shall, within ten (10) Business Days of the earlier of Durham, Xxxxxxx or a Responsible Officer of the Seller obtaining actual knowledge of such circumstance or receipt by Durham, Xxxxxxx or the Seller from the Buyer of written notice thereof, make a deposit to the Collection Account in immediately available funds in an amount equal to the sum of (a) the Outstanding Receivable Balance with respect to such Receivable and any interest accrued thereon through the applicable Retransfer Date, and (b) any costs and damages incurred by the Buyer in connection with any violation in connection with the servicing or collection of such Receivable of any predatory or abusive lending law (collectively, the “Retransfer Price”). In the foregoing instance, the Seller shall accept retransfer of each such Receivable and any Related Security.
Ineligible Receivables. 29 6.10 Business of the Contributor............................................... 30 6.11 Limitation on Fundamental Changes......................................... 30 6.12 Offices................................................................... 30
Ineligible Receivables. A Receivable will be an Ineligible Receivable for the purposes of this Receivables Purchase Agreement if any of the following apply to it:
Ineligible Receivables. Take any action to cause, or which would permit, an Eligible Receivable to cease to be an Eligible Receivable, except as otherwise expressly provided by this Agreement; provided that in no event shall an Eligible Receivable becoming a Defaulted Receivable constitute a breach of this subsection 6.2.
Ineligible Receivables. 54 2.12 Rebated Receivables..............................................................................55 2.13 Substitution of Receivables......................................................................55 2.14 Accounts.........................................................................................58 2.15 Remittance and Allocation of Collections.........................................................61 2.16 Distribution and Application of Collections......................................................62 2.17
