Examples of Purchased Collateral in a sentence
The Seller does not own or intend to carry or purchase, and no proceeds from the sale of the Purchased Collateral will be used to carry or purchase, any “margin stock” within the meaning of Regulation U or to extend “purpose credit” within the meaning of Regulation U.
The Seller has been duly organized, and is validly existing as a limited liability company in good standing, under the laws of the State of Delaware, with all requisite company power and authority to own or lease its properties and conduct its business as such business is presently conducted, and had at all relevant times, and now has, all necessary power, authority and legal right to acquire, own and sell the Purchased Collateral.
It is understood and agreed that the representations and warranties provided in this Section 4.1 shall survive (x) the sale and assignment or contribution of the Purchased Collateral to the Buyer and (y) any subsequent transfer of the Purchased Collateral by the Buyer (including its grant of a first priority perfected security interest in, to and under the Purchased Collateral pursuant to the Sale and Servicing Agreement).
Except as otherwise provided in the Lock–Box Agreement, the Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock–Box Account cash or cash proceeds other than Collections in respect of Purchased Collateral.
No procedures believed by the Seller to be adverse to the interests of the Buyers were utilized by the Seller in identifying and/or selecting the Assets included in the Purchased Collateral.
The Seller will not, except as otherwise permitted herein or in the other Transaction Documents, extend, amend or otherwise modify, or permit the Servicer to extend, amend or otherwise modify, the terms of any Purchased Collateral (including the Related Security).
The Seller has complied in all respects with all Applicable Laws to which it may be subject, and no Purchased Collateral contravenes any Applicable Laws (including, without limitation, all applicable predatory and abusive lending laws and all laws, rules and regulations relating to licensing, truth in lending, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection practices, and privacy).
The Buyer (i) has all necessary power, authority and legal right to (a) execute and deliver this Agreement and the other Transaction Documents to which it is a party, (b) carry out the terms of the Transaction Documents to which it is a party, and (ii) has duly authorized by all necessary company action the execution, delivery and performance of this Agreement and the other Transaction Documents to which it is a party and the purchase of the Purchased Collateral on the terms and conditions herein provided.
The Seller will, at its expense, timely and fully perform and comply with all provisions, covenants and other promises required to be observed by it under the Purchased Collateral and all other agreements related to such Purchased Collateral.
The Buyer has given reasonably equivalent value to the Seller in consideration for the transfer to the Buyer of the Purchased Collateral, no such transfer shall have been made for or on account of an antecedent debt owed by the Seller to the Buyer, and no such transfer is or may be voidable or subject to avoidance under any section of the Bankruptcy Code.