Ownership of Transferred Receivables Clause Samples
The "Ownership of Transferred Receivables" clause establishes that the rights to certain receivables are legally transferred from one party to another, typically as part of a sale or assignment. In practice, this means that once the receivables are transferred, the new owner has the exclusive right to collect payments and enforce any related claims against the debtor. This clause ensures that there is no ambiguity regarding who holds the legal title to the receivables, thereby protecting the interests of the transferee and preventing disputes over ownership.
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Ownership of Transferred Receivables. On and after each Transfer Date and after giving effect to the Transfers to be made on each such date, Buyer shall own the Transferred Receivables and no Originator shall take any action inconsistent with such ownership nor shall any Originator claim any ownership interest in such Transferred Receivables.
Ownership of Transferred Receivables. Master Servicer shall identify the Transferred Receivables clearly and unambiguously in its Servicing Records to reflect that the Transferred Receivables are owned by Owner.
Ownership of Transferred Receivables. On and after each Transfer Date and after giving effect to the Sales to be made on each such date, Buyer shall own the Transferred Receivables and no Seller shall take any action inconsistent with such ownership nor shall any Seller claim any ownership interest in such Transferred Receivables. It is understood that the Sellers, the Parent and the Buyer may be consolidated for accounting purposes, as required by GAAP.
Ownership of Transferred Receivables. The Servicer shall identify the Transferred Receivables clearly and unambiguously in its Servicing Records to reflect that such Transferred Receivables have been sold or contributed to the Seller and, following the Purchase of Purchaser Interests in such Transferred Receivables under this Agreement, are owned by the Agent for the benefit of the Purchasers.
Ownership of Transferred Receivables. The Servicer shall identify the Transferred Receivables clearly and unambiguously in its Servicing Records to reflect that such Transferred Receivables have been sold to the Seller and that interests therein have been transferred to the Purchasers by marking each Servicing Record with the following legend: "The accounts receivable and other obligations set forth herein, together with certain related property interests, have been sold to Eagle-Picher Funding Corporation, and interests therein have been further transferred to certain purchasers for whom General Electric Capital Corporation acts as agent." The Servicer shall maintain its books and records so as to clearly distinguish Excluded Receivables from Transferred Receivables.
Ownership of Transferred Receivables. Issuer owns and has good and marketable title to the Transferred Receivables and Related Security with respect thereto free and clear of any Adverse Claim.
Ownership of Transferred Receivables. On and after each Transfer Date and after giving effect to the Transfers to be made on each such date, CRLLC shall own the Transferred Receivables and no Originator shall take any action inconsistent with such ownership nor shall any Originator claim any ownership interest in such Transferred Receivables.
Ownership of Transferred Receivables. On and after each Transfer Date and after giving effect to the Transfers to be made on each such date, MRFC shall own the Transferred Receivables and no Originator shall take any action inconsistent with such ownership nor shall any Originator claim any ownership interest in such Transferred Receivables.
Ownership of Transferred Receivables. On and after each Transfer Date and after giving effect to the Transfers to be made on each such date, Receivables Purchaser shall own the Transferred Receivables and all of the Receivables Seller's rights, but none of the duties or obligations, in, to and under the Contribution Agreement with respect to the Transferred Receivables and the Receivables Seller or the Originator shall not take any action inconsistent with such ownership nor shall the Receivables Seller or the Originator claim any ownership interest in such Transferred Receivables. The Sold Receivables and the Contributed Receivables will be identified by reference to the Receivables General Trial Balance of the Receivables Seller.
Ownership of Transferred Receivables. Each Transfer of Receivables hereunder is a true sale by the applicable Originator to the Buyer that is absolute and irrevocable and provides the Buyer with full benefits of ownership of such Receivables. On and after each Transfer Date and after giving effect to the Transfers to be made on each such date, the Buyer shall own the Transferred Receivables and no Originator shall take any action inconsistent with such ownership nor shall any Originator claim any ownership interest in such Transferred Receivables.