Reassignment of Receivables Clause Samples

Reassignment of Receivables. In the event (i) any representation or warranty contained in subsection 2.04(a)(ii), (iii), (iv), (vi), (vii) or (viii) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and such breach has a material adverse effect on the Investor Certificateholders (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement) unless cured within 60 days (or such longer period, not in excess of 120 days, as may be agreed to by the Trustee and the Servicer) after the earlier to occur of the discovery thereof by the Transferor that conveyed such Receivables to the Trust or receipt by such Transferor of written notice thereof given by the Trustee or the Servicer, or (ii) it is so provided in subsection 2.07(a) or 2.09(d)(iii) with respect to any Receivables conveyed to the Trust by such Transferor, then such Transferor shall accept reassignment of the Certificateholders' Interest in all Receivables in the related Account ("Ineligible Receivables") on the terms and conditions set forth in paragraph (b) below.

Reassignment of Receivables. In the event (i) any representation or warranty contained in Section 2.04(a)(ii), (iii), (iv), (vii), (viii) or (ix) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and such breach has a material adverse effect on the Certificateholders’ Interest in any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement), unless cured within 60 days (or such longer period, not in excess of 150 days, as may be agreed to by the Trustee) after the earlier to occur of the discovery thereof by the Sellers or receipt by the Sellers of notice thereof given by the Trustee, or (ii) it is so provided in Section 2.07(a) or 2.09(c)(iii) with respect to any Receivables, then the Sellers shall accept reassignment of the Certificateholders’ Interest in all Receivables in the related Account (“Ineligible Receivables”) on the terms and conditions set forth in paragraph (b) below.

Reassignment of Receivables. In the event any representation or warranty of the Transferor set forth in subsection 2.03(a) or (c) or subsection 2.04(a)(i), (ii) or (vi) is not true and correct in any material respect and such breach has a material adverse effect on the Receivables designated for inclusion in the Issuing Entity by the Transferor or the availability of the proceeds thereof to the Issuing Entity, then either the Owner Trustee, the Indenture Trustee or the Holders of Notes evidencing more than 66⅔% of the aggregate unpaid principal amount of all Outstanding Notes, by notice then given to the Transferor, the Administrator and the Servicer (and to the Owner Trustee and the Indenture Trustee, if given by the Noteholders), may direct the Transferor to accept a reassignment of the Receivables designated for inclusion in the Issuing Entity by the Transferor, pursuant to this Agreement and the Receivables Purchase Agreement or the applicable Account Assignment, if such breach and any material adverse effect caused by such breach is not cured within 60 days of such notice (or within such longer period as may be specified in such notice), and upon those conditions the Transferor shall be obligated to accept such reassignment on the terms set forth below; provided, however, that the Transferor shall only be required to accept reassignment of Receivables transferred under an agreement with respect to which the relevant representation and warranty was deemed to be breached; and provided, further, the affected Receivables will not be reassigned to the Transferor if, on any day during such applicable period the relevant representation and warranty shall be true and correct in all material respects as if made on such day. The Transferor shall deposit the portion of the Reassignment Amount attributable to the applicable Notes in the Collection Account to be treated (i) in connection with amounts determined under clause (a) of the definition of “Reassignment Amount,” as Principal Collections for each Series of Notes and (ii) in connection with the amounts determined under clause (b) of the definition of “Reassignment Amount,” as Finance Charge Collections for each Series of Notes, in either case, in immediately available funds not later than 1:00 p.m., New York City time, on the First Note Transfer Date following the Monthly Period in which such reassignment obligation arises, in payment for such reassignment. If the Owner Trustee, the Indenture Trustee or the Noteholders give notice dire...

Reassignment of Receivables. The Collateral Agent does hereby reassign to the Trust, without recourse, on and after the Removal Date, all right, title and interest of the Collateral Agent in, to and under the Asset Pool One Receivables now existing and hereafter created from time to time in the Removed Asset Pool One Accounts, all Interchange and Recoveries related thereto, all monies due or to become due (including all Asset Pool One Finance Charge Receivables) and all amounts received or receivable with respect thereto and all proceeds (as defined in the UCC as in effect in the applicable jurisdiction) thereof (the “Removed Collateral”).

Reassignment of Receivables. In the event (i) any representation or warranty contained in subsection 2.04(a)(ii), (iii), (iv), (vi), (vii) or (viii) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and such breach has a material adverse effect on the Certificateholders' Interest in any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement) unless cured within 60 days (or such longer period, not in excess of 120 days, as may be agreed to by the Trustee and the Servicer) after the earlier to occur of the discovery thereof by the Transferor which or the Predecessor Transferor of which conveyed such Receivables to the Trust or receipt by such Transferor of written notice thereof given by the Trustee or the Servicer, or (ii) it is so provided in subsection 2.07(a) or 2.09(d)(iii) with respect to any Receivables conveyed to the Trust by such Transferor, then such Transferor shall accept reassignment of the Certificateholders' Interest in all Receivables in the related Account ("Ineligible Receivables") on the terms and conditions set forth in paragraph (b) below.

Reassignment of Receivables. Fleet (RI) agrees that upon the execution and delivery of Amendment Number 3, under the terms of the Agreement, it shall be and is deemed to be the Seller which transferred all Receivables to the Trust and agrees to accept the reassignment of Receivables as provided in Sections 2.05 and 2.06 notwithstanding the fact that a Receivable may have been transferred to the Trust prior to the date of this Assignment Agreement and after the date of this Assignment Agreement no such assignment shall be made to Advanta and any amounts required to be deposited as a result of such reassignment shall be the obligation of Fleet (RI).

Reassignment of Receivables. We may reassign and charge back to you all or any portion of your outstanding Receivables purchased by us pursuant to this Agreement: a. if payment thereon is not received by us within ninety (90) days after the date payment on the Account has become due as reflected by the Account Statement sent to the Customer obligated to pay such Receivables; or b. ninety (90) days after any portion of that Customer's Receivables becomes delinquent or in default, as determined by the terms of the Credit Agreement between you and that Customer; or c. if any dispute arises with the Customer regarding the Receivable, including without limitation, any alleged deduction, defense, offset or counterclaim; or d. if you are in default under the terms of this Agreement or under any other agreement or Obligation you have with us; or e. if this Agreement is terminated.

Reassignment of Receivables. Fleet agrees that upon the execution and delivery of the Third Amendment to the Agreement, dated as of February 20, 1998 (the "Third Amendment"), under the terms of Sections 2.07 and 2.08 of the Agreement, it shall be and is deemed to be the Seller which transferred all Receivables to the Trust and agrees to accept the reassignment of Receivables as provided in Sections 2.07 and 2.08 notwithstanding the fact that a Receivable may have been transferred to the Trust prior to the date of this Supplemental Agreement and after the date of this Agreement no such assignment shall be made to Advanta and any amounts required to be deposited as a result of such reassignment shall be the obligation of Fleet.

Reassignment of Receivables. In the event that: