Eligible Contracts Sample Clauses
The 'Eligible Contracts' clause defines which types of agreements or transactions are permitted under the terms of a broader contract or regulatory framework. It typically outlines specific criteria or characteristics that a contract must meet to be considered valid, such as the nature of the parties involved, the subject matter, or compliance with certain laws. For example, it may specify that only contracts involving qualified counterparties or certain financial instruments are allowed. The core function of this clause is to ensure that only appropriate and authorized contracts are entered into, thereby managing risk and maintaining compliance with legal or regulatory requirements.
Eligible Contracts. Each Contract included in the Collateral is an Eligible Contract as of its respective Cutoff Date. Each of the representations and warranties made in Sections 4.01(l), (m), (n) and (o), Section 4.02(d) and Section 4.03 of the Receivables Sale Agreement is hereunder made by the Borrower. There are a sufficient number of Eligible Contracts and Eligible Post-Sale Contracts constituting Collateral such that the Borrowing Base exceeds the Aggregate Principal Balance.
Eligible Contracts. Borrower shall from time to time deliver to Lender Eligible Contracts which Borrower desires to be included in the Borrowing Base. Along with the Contracts Borrower shall also deliver a List of Contracts. An Eligible Contract shall be included in the Borrowing Base only when and for so long as, in Lender's sole determination, each of the requirements in the definition of Eligible Contracts continues to be satisfied. If a Contract is determined by Lender to be, or is treated by Lender as, an Eligible Contract, Lender reserves the right to change its determination or treatment and to remove the Contract from the Borrowing Base if it later determines that the Contract is not or was not an Eligible Contract. A determination by Lender that a Contract is an Eligible Contract is not a waiver by Lender of, or an admission by Lender of the truth of, any of Borrower's representations and warranties in this Agreement.
Eligible Contracts. No later than sixty (60) days before the expiry of any Eligible Contract, the Borrowers shall notify the Collateral Agent, the Technical Agent and the Lenders as to whether or not it proposes to renew such Eligible Contract and, if so, the material terms on which it proposes to effect such renewal. No later than fourteen (14) days prior to executing the definitive documentation for any renewed Eligible Contract, the Borrowers shall provide the Technical Agent, the Collateral Agent and the Lenders with a copy thereof (and if such documentation is not in the English language, a certified English language translation thereof), together with any other information relating thereto as the Collateral Agent or the Technical Agent may reasonably request. Each Borrower shall provide the Collateral Agent and the Lenders with a copy of any monthly production report or similar periodic report or document provided by it to any Eligible Offtaker pursuant to the terms of any Eligible Contract.
Eligible Contracts. As of the relevant Purchase Date:
(i) each Purchased Contract sold on such date is an Eligible Contract and the transfer, sale and conveyance to LEAF II hereunder of such Purchased Contract does not conflict with, result in a breach of any of the provisions of, or constitute (with or without notice or lapse of time or both) a default under, such Purchased Contract or violate any Requirement of Law or subject the Lender to any fine, penalty or liability; and
(ii) the information set forth in the Purchase Date Notice with respect to each Purchased Contract to be purchased on such date, together with the applicable electronic data file provided in connection therewith, is and shall be true and correct.
Eligible Contracts. Each Contract is an Eligible Contract. With respect to each such Contract, (i) no effective financing statement, lien notation on any certificate of title or other instrument similar in effect covering all or any part of such Contract or the security therefor, which would give the Person filing, named on or entitled to the benefit of such statement or instrument priority senior to or pari passu with the Borrower, is on file in any recording office or is otherwise effective except such as may be filed in favor of the Dealer, the related Originator or the Borrower and collaterally assigned to Lender in accordance with the Facility Agreements; and (ii) the Vehicle, including any equipment sold and financed in connection with such Contract, is the subject of an application for a certificate of title to be issued in the name of the Obligor which will indicate a security interest therein held by the Originators, and to be held in the possession of the Servicer, in the appropriate form and in compliance with all appropriate procedures as may be necessary under applicable law to cause a perfected and first priority security interest to exist in favor of, or for the benefit of, the Borrower, to secure the obligations of such Obligor under such Contract; and (iii) it is in compliance with the Underwriting Criteria.
Eligible Contracts. 62 Section 5.20.
Eligible Contracts. Each of the Contracts is an Eligible Contract.
Eligible Contracts. Each Contract represents the absolute obligation of the related Obligor to pay the amounts set forth therein, free from any and all claims, defenses or rights of counterclaim against Lender.
Eligible Contracts. No later than sixty (60) days before the expiry of any Eligible Contract, the Borrowers shall notify the Collateral Agent, the Technical Agent and the Lenders as to whether or not it proposes to renew such Eligible Contract and, if so, the material terms on which it proposes to effect such renewal. No later than fourteen (14) days prior to executing the definitive documentation for any renewed Eligible Contract, the Borrowers shall provide the Technical Agent, the Collateral Agent and the Lenders with a copy thereof (and if such documentation is not in the English language, a certified English language translation thereof), together with any other information relating thereto as the Collateral Agent or the Technical Agent may reasonably request.
Eligible Contracts. All Contracts included in the Initial Borrowing Base as of the most recently delivered Distribution Date Statement or Borrowing Base Confirmation are Eligible Contracts.