Common use of Delivery of Receivable Files Clause in Contracts

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files to the Trustee at the location specified in Schedule B to the Sale and Servicing Agreement. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the Trustee, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 3 contracts

Sources: Assignment (Consumer Portfolio Services Inc), Receivables Purchase Agreement (Consumer Portfolio Services Inc), Purchase Agreement (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files cause to be delivered to the Trustee at the location specified in Schedule B to the Sale and Servicing AgreementAgreement the Receivables Files relating to the Samco Receivables. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to Samco, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 3 contracts

Sources: Receivables Purchase Agreement (Consumer Portfolio Services Inc), Assignment (Consumer Portfolio Services Inc), Assignment (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files cause to be delivered to the Trustee at the location specified in Schedule B to the Sale and Servicing AgreementAgreement the Receivables Files relating to the Samco Receivables. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to Samco, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 4.7 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 2 contracts

Sources: Purchase Agreement (Consumer Portfolio Services Inc), Receivables Purchase Agreement (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files to the Trustee at the location specified in Schedule B to the Sale Pooling and Servicing Agreement. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 2.8 of the Sale Pooling and Servicing Agreement, that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale Pooling and Servicing Agreement or that any of the documents referred to in Section 3.3 2.7 of the Sale Pooling and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the Trustee, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale Pooling and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders Certificateholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 2 contracts

Sources: Receivables Purchase Agreement (Consumer Portfolio Services Inc), Purchase Agreement (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files to the Trustee at the location specified in Schedule B to the Sale and Servicing Agreement. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the Trustee, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 2 contracts

Sources: Assignment (Consumer Portfolio Services Inc), Receivables and Purchase Agreement (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files cause to be delivered to the Trustee at the location specified in Schedule B to the Sale and Servicing AgreementAgreement the Receivables Files relating to the Linc Receivables. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a Linc Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to Linc, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 4.7 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 2 contracts

Sources: Receivables Purchase Agreement (Consumer Portfolio Services Inc), Link Purchase Agreement (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall cause to be delivered to the Trustee at the location specified in Schedule B to the Sale and Servicing Agreement the Receivables Files relating to the Initial Receivables. On or prior to each Subsequent Closing Date, the Seller shall deliver the Receivable Files for the related Subsequent Receivables to the Trustee at the location specified in Schedule B to the Sale and Servicing Agreement. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a Linc Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to Linc, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 4.7 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Assignment (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files to the Trustee at the location specified in Schedule B to the Sale and Servicing Agreement. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 2.8 of the Sale and Servicing Agreement, that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 2.7 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the Trustee, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Assignment (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files cause to be delivered to the Trustee at the location specified in Schedule B to the Sale Pooling and Servicing AgreementAgreement the Receivables Files relating to the [Affiliated Originator] Receivables. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a [Affiliated Originator] Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale Pooling and Servicing Agreement or that any of the documents referred to in Section 3.3 2.7 of the Sale Pooling and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to [Affiliated Originator], the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale Pooling and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders Certificateholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Purchase Agreement (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files cause to be delivered to the Trustee at the location specified in Schedule B to the Sale Pooling and Servicing AgreementAgreement the Receivables Files relating to the Linc Receivables. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a Linc Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale Pooling and Servicing Agreement or that any of the documents referred to in Section 3.3 2.7 of the Sale Pooling and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to Linc, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale Pooling and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders Certificateholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Receivables Purchase Agreement (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files cause to be delivered to the Trustee at the location specified in Schedule B to the Sale and Servicing AgreementAgreement the Receivables Files relating to the Linc Receivables. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a Linc Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to Linc, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Assignment (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall cause to be delivered to the Trustee at the location specified in Schedule B to the Sale and Servicing Agreement the Receivables Files relating to the Initial Samco Receivables. On or prior to each Subsequent Closing Date, the Seller shall deliver the Receivable Files for the related Subsequent Receivables to the Trustee at the location specified in Schedule B to the Sale and Servicing Agreement. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to Samco, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 4.7 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Assignment (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or (a) Not later than 5:00 P.M. (New York City time) two (2) Business Days prior to the Closing any Borrowing Date, the Seller Borrower shall deliver (or cause to be delivered) to the Custodian a Notice of Pledge together with an accurate and complete Receivables Schedule listing each of the Receivables to be Pledged under the LSA on such Borrowing Date and all information with respect to such Receivables and the related Contracts required pursuant to the definition of the term Receivables Schedule. Not later than 5:00 P.M. (New York City time) two (2) Business Days prior to any Borrowing Date, the Borrower shall deliver (or cause to be delivered) and release to the Custodian as custodian for, and bailee of, the Agent, for the benefit of the Lenders, the Receivable Files File pertaining to each of the Receivables to be Pledged under the LSA on such Borrowing Date. The information set forth on any Receivables Schedule delivered pursuant to this Section 3(a) shall also be concurrently delivered to the Trustee at the location specified Custodian in Schedule B an electronic format mutually acceptable to the Sale Borrower and Servicing Agreement. the Custodian. (b) The Seller Custodian shall have until be entitled to rely upon each Receivables Schedule provided by the last day of Borrower pursuant to Section 3(a) as the second Collection Period following receipt from the Trustee of notificationconclusive schedule in its review, pursuant to Section 3.4 5 hereof, of the Sale Receivable Files. (c) Promptly and Servicing Agreementin any event within three (3) Business Days of receipt and no later than (i) one hundred and eighty (180) days after the related Receivable becomes a Pledged Asset under the LSA if the real estate comprising the Underlying Collateral is not located in the State of New York and (ii) two hundred and seventy (270) days after the related Receivable becomes a Pledged Asset under the LSA if the real estate comprising the Underlying Collateral is located in the State of New York, that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated the Borrower shall forward to the Receivables identified Custodian for inclusion in Schedule A the appropriate Receivable File the recorded mortgage (and the assignments thereof to the Sale Borrower, if any), and Servicing Agreement or that any of the documents referred Custodian shall add such mortgage and such assignments to in Section 3.3 of the Sale and Servicing Agreement are not contained in a appropriate Receivable File. (d) From time to time, the Borrower shall forward to deliver such file or the Custodian for inclusion in the appropriate Receivable File any of the aforementioned additional documents which come into existence and are required to be included in such a Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the Trustee, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and previously delivered to the Trustee Custodian or are otherwise material to such Pledge Receivable, and are necessary to vest in the Seller or Custodian shall add such designee title additional documents to the Receivableappropriate Receivable File.

Appears in 1 contract

Sources: Custodial Agreement (BRT Realty Trust)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files for the Initial Receivables to the Trustee at the location specified in Schedule B to the Sale and Servicing Agreement. On or prior to each Subsequent Closing Date, the Seller shall deliver the Receivable Files for the related Subsequent Receivables to the Trustee at the location specified in Schedule B to the Sale and Servicing Agreement. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 of the Sale and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the Trustee, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Assignment (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, in the Seller case of the Initial Receivables, or the related Subsequent Transfer Date, in the case of the Subsequent Receivables, [the Originator shall deliver the Receivable related Contact Files to the Trustee at the location specified in Schedule B to the Sale and Servicing AgreementTrust Collateral Agent]. The Seller shall have until the last day of the second Collection Period Originator, following receipt from the Trustee Trust Collateral Agent of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file Receivable File with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 the definition of the Sale and Servicing Agreement are term "Receivable File" is not contained in a Receivable File, to File shall deliver such file Receivable File or any of the aforementioned documents required to be included in such Receivable File to the TrusteeTrust Collateral Agent no later than the Closing Date or the related Subsequent Transfer Date, as applicable. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second first Collection Period following discovery thereof by the Trusteethereof, the Seller Originator hereby agrees to repurchase any such Receivable from the Trust Issuer as of such last day. In consideration of the purchase of the Receivable, the Seller Originator shall remit the Purchase Amount in the manner specified in Section 4.5 5.05(a) of the Sale and Servicing Agreement. The sole remedy hereunder of the Indenture Trustee, the Trust Collateral Agent, the Issuer or the Securityholders Noteholders with respect to a breach of this Section 5.5, 5.5 shall be to require the Seller Originator to repurchase the Receivable pursuant to this Section 5.5; provided, however, that the Originator shall indemnify the Owner Trustee, the Issuer, the Indenture Trustee, the Trust Collateral Agent, the Note Insurer, the Indenture Trustee, the Back-up Servicer, the Collateral Agent, the Noteholders, the Certificateholder and their respective officers, directors and employees against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them, as a result of third party claims arising out of the events or facts giving rise to a Repurchase Event. Upon receipt of the Purchase AmountAmount and any related indemnity payments, the Trustee Trust Collateral Agent shall release to the Seller Originator or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller Originator and delivered to the Trustee Trust Collateral Agent and are necessary to vest in the Seller Originator or such designee the Transferor's and the Issuer's right, title to and interest in the Receivable.

Appears in 1 contract

Sources: Purchase Agreement (United Fidelity Finance LLC)

Delivery of Receivable Files. On or prior to the Closing Date, in the Seller shall case of the Initial Receivables, or the related Subsequent Transfer Date, in the case of the Subsequent Receivables, the Originator shall, on behalf of the Transferor, deliver the Receivable related Contact Files to the Trustee at the location specified in Schedule B to the Sale and Servicing AgreementTrust Collateral Agent. The Seller shall have until the last day of the second Collection Period Originator, following receipt from the Trustee Trust Collateral Agent of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file Receivable File with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale and Servicing Agreement or that any of the documents referred to in Section 3.3 the definition of the Sale and Servicing Agreement are term "Receivable File" is not contained in a Receivable File, to File shall deliver such file Receivable File or any of the aforementioned documents required to be included in such Receivable File to the TrusteeTrust Collateral Agent no later than the Closing Date or the related Subsequent Transfer Date, as applicable. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second first Collection Period following discovery thereof by the Trusteethereof, the Seller hereby agrees to Originator shall repurchase any such Receivable from the Trust Issuer as of such last day. In consideration of the purchase of the Receivable, the Seller Originator shall remit the Purchase Amount in the manner specified in Section 4.5 5.05(a) of the Sale and Servicing Agreement. The sole remedy hereunder of the Indenture Trustee, the Trust Collateral Agent, the Issuer or the Securityholders Noteholders with respect to a breach of this Section 5.5, 5.5 shall be to require the Seller Originator to repurchase the Receivable pursuant to this Section 5.5; provided, however, that the Originator shall indemnify the Owner Trustee, the Issuer, the Indenture Trustee, the Trust Collateral Agent, the Note Insurer, the Indenture Trustee, the Back-up Servicer, the Collateral Agent, the Noteholders, the Certificateholder and their respective officers, directors and employees against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them, as a result of third party claims arising out of the events or facts giving rise to a Repurchase Event. Upon receipt of the Purchase AmountAmount and any related indemnity payments, the Trustee Trust Collateral Agent shall release to the Seller Originator or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller Originator and delivered to the Trustee Trust Collateral Agent and are necessary to vest in the Seller Originator or such designee the Transferor's and the Issuer's right, title to and interest in the Receivable.

Appears in 1 contract

Sources: Purchase Agreement (United Fidelity Auto Receivables Trust 2002-A)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files cause to be delivered to the Trustee at the location specified in Schedule B to the Sale Pooling and Servicing AgreementAgreement the Receivables Files relating to the Samco Receivables. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale Pooling and Servicing Agreement or that any of the documents referred to in Section 3.3 2.7 of the Sale Pooling and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to Samco, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale Pooling and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders Certificateholders with respect to a breach of this Section SECTION 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section SECTION 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Assignment (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files to the Trustee at the location specified in Schedule B to the Sale Pooling and Servicing Agreement. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 2.8 of the Sale Pooling and Servicing Agreement, that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) Receivable or that a file is unrelated to the Receivables identified in Schedule A to the Sale Pooling and Servicing Agreement or that any of the documents referred to in Section 3.3 2.7 of the Sale Pooling and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the Trustee, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale Pooling and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders Certificateholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount▇▇▇▇▇▇, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Receivables Purchase Agreement (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files cause to be delivered to the Trustee at the location specified in Schedule B to the Sale Pooling and Servicing AgreementAgreement the Receivables Files relating to the Samco Receivables. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 of the Sale and Servicing Agreement, notification that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable or a Linc Receivable) or that a file is unrelated to the Receivables identified in Schedule A to the Sale Pooling and Servicing Agreement or that any of the documents referred to in Section 3.3 2.7 of the Sale Pooling and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the TrusteeTrustee and notice thereof to Samco, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale Pooling and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders Certificateholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Receivables Purchase Agreement (Consumer Portfolio Services Inc)

Delivery of Receivable Files. On or prior to the Closing Date, the Seller shall deliver the Receivable Files to the Trustee at the location specified in Schedule B to the Sale Pooling and Servicing Agreement. The Seller shall have until the last day of the second Collection Period following receipt from the Trustee of notification, pursuant to Section 3.4 2.8 of the Sale Pooling and Servicing Agreement, that there has been a failure to deliver a file with respect to a Receivable (including a Samco Receivable, Linc Receivable or a Linc [[Affiliated Originator] Receivable) ] or that a file is unrelated to the Receivables identified in Schedule A to the Sale Pooling and Servicing Agreement or that any of the documents referred to in Section 3.3 2.7 of the Sale Pooling and Servicing Agreement are not contained in a Receivable File, to deliver such file or any of the aforementioned documents required to be included in such Receivable File to the Trustee. Unless such defect with respect to such Receivable File shall have been cured by the last day of the second Collection Period following discovery thereof by the Trustee, the Seller hereby agrees to repurchase any such Receivable from the Trust as of such last day. In consideration of the purchase of the Receivable, the Seller shall remit the Purchase Amount in the manner specified in Section 4.5 of the Sale Pooling and Servicing Agreement. The sole remedy hereunder of the Trustee, the Trust or the Securityholders Certificateholders with respect to a breach of this Section 5.5, shall be to require the Seller to repurchase the Receivable pursuant to this Section 5.5. Upon receipt of the Purchase Amount, the Trustee shall release to the Seller or its designee the related Receivable File and shall execute and deliver all instruments of transfer or assignment, without recourse, as are prepared by the Seller and delivered to the Trustee and are necessary to vest in the Seller or such designee title to the Receivable.

Appears in 1 contract

Sources: Purchase Agreement (Consumer Portfolio Services Inc)