Additional Purchase Date definition
Examples of Additional Purchase Date in a sentence
The Seller will account, following the Closing Date and following each relevant Additional Purchase Date, to the Issuer for all sums received by it from any Obligor or other party under or in respect of the Receivables and the related Ancillary Rights and the Seller will hold the same on trust for the Issuer and such amounts will be paid to the Issuer in accordance with the Transaction Documents.
Consequently, to the extent that the Seller has received any interest or principal or other income from such Additional Receivables between the close of business on the Additional Cut-Off Date to and including the Additional Purchase Date, the Seller will deal with such amounts in accordance with the Servicing Agreement in the same manner as any other Collections in respect of the Purchased Receivables.
Consequently, to the extent that VWFS has received any interest or principal or other income from such Additional Receivables between the close of business on the Additional Cut-Off Date to and including the Additional Purchase Date, VWFS will deal with such amounts in accordance with the Servicing Agreement in the same manner as any other Collections in respect of the Purchased Receivables.
The Seller and Servicer will maintain internal records sufficient for it to identify at all times the Eligible Receivables required to be sold hereunder on each Additional Purchase Date (and identify the Eligible Receivables so sold hereunder).
In relation to each Utilisation other than the first Utilisation, to the extent that the same have not previously been delivered to the Security Trustee each Supplemental Scottish Declaration of Trust delivered to the Borrower on an Additional Purchase Date occurring on or prior to such Utilisation Date and a Supplemental Assignation in Security in relation to each such Supplemental Scottish Declaration of Trust.