Receivables Not To Be Evidenced by Instruments. Except in connection with its enforcement or collection of an Account, TRS will take no action to cause any Receivable sold to RFC VIII hereunder to be evidenced by any instrument (as defined in the UCC), and if any Receivable is so evidenced as a result of any action by TRS, it shall be deemed to be a Receivable described in Subsection 6.01(a) and shall be reassigned to TRS in accordance with Subsection 6.01(b).
Appears in 6 contracts
Sources: Receivables Purchase Agreement, Receivables Purchase Agreement (American Express Receivables Financing Corp VIII LLC), Receivables Purchase Agreement (American Express Receivables Financing Corp VIII LLC)
Receivables Not To Be Evidenced by Instruments. Except in connection with its enforcement or collection of an Account, TRS will take no action to cause any Receivable sold to RFC VIII V hereunder to be evidenced by any instrument (as defined in the UCC), and if any Receivable is so evidenced as a result of any action by TRS, it shall be deemed to be a Receivable described in Subsection 6.01(a) and shall be reassigned to TRS in accordance with Subsection 6.01(b).
Appears in 1 contract
Sources: Receivables Purchase Agreement (American Express Issuance Trust)