Common use of Series Supplements Clause in Contracts

Series Supplements. The parties hereto agree that the Transferor will have the option to enter into a Series Supplement hereto with respect to each Series, the Secured Obligations with respect to which are to be secured by Collateral held pursuant to the provisions of this Agreement. The parties will enter into a Series Supplement only if the following conditions shall have been satisfied: (i) The Transferor shall have sold or pledged all or a portion of its right, title and interest in and to a pool of Contracts and/or other financial assets or property to a Trust or other Person pursuant to a Securitization Agreement; (ii) Financial Security shall have issued a Policy in respect of the Guaranteed Distributions or Scheduled Payments, as the case may be, with respect to the senior class of the Series issued or arising pursuant to such Securitization Agreement; and (iii) Pursuant to the related Series Supplement the related Collateral specified herein shall be administered by the Collateral Agent substantially on the terms set forth in Section 2.03 hereof.

Series Supplements. The parties hereto agree that the Transferor will have the option to enter into a Series Supplement hereto with respect to each Series, the Secured Obligations with respect to which are to be secured by Collateral held pursuant to the provisions of this Agreement. The parties will enter into a Series Supplement only if the following conditions shall have been satisfied: (i) The Transferor shall have sold or pledged all or a portion of its right, title and interest in and to a pool of Contracts receivables and/or other financial assets or property to a Trust or other Person pursuant to a Securitization Agreement; (ii) Financial Security shall have issued a Policy in respect of the Guaranteed Distributions or Scheduled Payments, as the case may be, with respect to the senior class of the Series issued or arising pursuant to such Securitization Agreement; and (iii) Pursuant to the related Series Supplement the related Collateral specified herein shall be administered by the Collateral Agent substantially on the terms set forth in Section 2.03 hereof.