Assignment and Servicing Agreement definition
Examples of Assignment and Servicing Agreement in a sentence
This Assignment and Servicing Agreement may be executed in any number of counterparts, each counterpart constituting an original, but all together constituting only one Agreement.
Nothing in the preceding provisions of this Section 10 shall be interpreted as limiting or restricting any rights or remedies which the Issuer, the Trustee or any other Person would otherwise have at law or in equity on account of the breach or violation of any provision of this Assignment and Servicing Agreement by the Servicer, including, without limitation, the right to recover full and complete damages on account thereof to the extent not inconsistent with Section 7.02 hereof.
The transactions contemplated by the Notes, the Indenture and this Assignment and Servicing Agreement are being consummated by the Originator in furtherance of the Originator's ordinary business purposes and constitute a practical and reasonable course of action by the Originator designed to improve the financial position of the Originator, with no contemplation of insolvency and with no intent to hinder, delay or defraud any of its present or future creditors.
Nothing in this Assignment and Servicing Agreement shall preclude the Originator or the Servicer from entering into other leases or other financial transactions with any Lessee or selling or discounting any such lease with any Person.
The contribution and transfer by the Seller to the Issuer of the Leases and the grant by the Seller to the Issuer of the security interest in the interests of the Seller in the Equipment pursuant to this Assignment and Servicing Agreement are not subject to the bulk transfer or any similar statutory provisions in effect in any applicable jurisdiction.
Each payment to the Servicer pursuant to any of the provisions of this Assignment and Servicing Agreement shall be accompanied by written advice containing sufficient information to identify the Lease and/or Equipment to which such payment relates, the Section of this Assignment and Servicing Agreement pursuant to which such payment is made, and the proper application pursuant to the provisions of this Assignment and Servicing Agreement or the Indenture of the amounts being paid.
The Originator will not, either as a result of the transaction contemplated by this Assignment and Servicing Agreement, or immediately before or after such transaction, be insolvent or have an unreasonably small capital for the conduct of its business and the payment of existing and anticipated obligations.
The Originator does not believe that it will incur debts beyond its ability to pay or which would be prohibited by its charter documents or by-laws as a result of the transactions contemplated by this Assignment and Servicing Agreement or otherwise.
The Seller does not believe that it will incur debts beyond its ability to pay or which would be prohibited by its charter documents or limited liability company agreement as a result of the transactions contemplated by this Assignment and Servicing Agreement or otherwise.
At the date hereof, the Originator does not believe, nor does it have any reasonable cause to believe, that it cannot (a) perform each and every covenant contained in this Assignment and Servicing Agreement or (b) perform its obligations hereunder as Servicer.