Valid Conveyance. As of each Addition Date, a valid sale, assignment ---------------- and conveyance to Buyer of all right, title, and interest of such RPA Seller in, to, and under the Receivables then existing and thereafter created in respect of the Additional Accounts, all monies due or to become due with respect thereto (including all Finance Charge Receivables), together with all proceeds of such Receivables and Insurance Proceeds relating thereto, has been consummated and such property will be held free and clear of any Lien of any Person claiming through or under such RPA Seller and its Affiliates, except for Liens permitted under Section 5.1(d). --------------
Appears in 3 contracts
Sources: Collateral Series Supplement (Spiegel Master Trust), Receivables Purchase Agreement (Spiegel Inc), Receivables Purchase Agreement (Spiegel Master Trust)