First Step Initial Receivables Assignment definition

First Step Initial Receivables Assignment. As defined in Section 2.02(a) of the Pooling and Servicing Agreement.
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Examples of First Step Initial Receivables Assignment in a sentence

  • This First Step Initial Receivables Assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the Pooling and Servicing Agreement and is to be governed by the Pooling and Servicing Agreement.

  • On the Initial Closing Date, the Seller shall execute and deliver the First Step Initial Receivables Assignment and on each Subsequent Closing Date, the Seller shall execute and deliver the First Step Additional Receivables Assignment.

  • On the [Initial] Closing Date, [the Seller shall execute and deliver the First Step Initial Receivables Assignment and on each Subsequent Closing Date,] the Seller shall execute and deliver the First Step [Additional] Receivables Assignment.

  • On the Initial Closing Date, GMAC shall execute and deliver the First Step Initial Receivables Assignment and on each Additional Closing Date, GMAC shall execute and deliver a First Step Additional Receivables Assignment.

  • The foregoing transfer and assignment of Receivables contemplated by the Pooling and Servicing Agreement and this First Step Initial Receivables Assignment does not constitute and is not intended to result in any assumption by ▇▇▇▇ of any obligation of the undersigned to the Obligors, Dealers, insurers or any other Person in connection with the Initial Receivables, any Dealer Agreements, any insurance policies or any agreement or instrument relating to any of them.

  • It is the intention of GMAC and ▇▇▇▇ that the transfer and assignment of Receivables contemplated by this First Step Initial Receivables Assignment shall constitute a sale of the Initial Receivables from GMAC to ▇▇▇▇ and the beneficial interest in and title to the Initial Receivables shall not be part of GMAC's estate in the event of the filing of a bankruptcy petition by or against GMAC under any bankruptcy law.

  • In consideration for the Initial Purchased Property, ▇▇▇▇ shall, on the Initial Closing Date, pay to GMAC an amount equal to the Initial Aggregate Receivables Principal Balance in respect of the Initial Receivables and GMAC shall execute and deliver to ▇▇▇▇ an assignment in the form attached hereto as Exhibit A (the "First Step Initial Receivables Assignment").

  • It is the intention of GMAC and CARI that the transfer and assignment of Receivables contemplated by ▇▇▇▇ First Step Initial Receivables Assignment shall constitute a sale of the Initial Receivables from GMAC to CARI and the beneficial interest in and title to the Initial Receivab▇▇▇ shall not be part of GMAC's estate in the event of the filing of a bankruptcy petition by or against GMAC under any bankruptcy law.

  • This First Step [Initial] Receivables Assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the Pooling and Servicing Agreement and is to be governed by the Pooling and Servicing Agreement.

  • It is the intention of the Seller and C▇▇▇ that the transfer and assignment of [Initial] Receivables contemplated by this First Step [Initial] Receivables Assignment shall constitute a sale of the [Initial] Receivables from the Seller to C▇▇▇ and the beneficial interest in and title to the [Initial] Receivables shall not be part of the Seller’s estate in the event of the filing of a bankruptcy petition by or against the Seller under any bankruptcy law.

Related to First Step Initial Receivables Assignment

  • Receivables Assets means accounts receivable (including any bills of exchange) and related assets and property from time to time originated, acquired or otherwise owned by the Borrower or any Subsidiary.

  • Initial Receivables means the Receivables transferred to the Trust on the Closing Date as set forth on the Schedule of Receivables attached to the Initial SSA Assignment.

  • Receivables Purchase Facility means any securitization facility made available to the Borrower or any of its Subsidiaries, pursuant to which receivables of the Borrower or any of its Subsidiaries are transferred to one or more SPCs, and thereafter to certain investors, pursuant to the terms and conditions of the Receivables Purchase Documents.

  • Receivables Purchase Agreement means the receivables purchase agreement, dated as of the Closing Date, between AHFC and the Seller, as amended or supplemented from time to time.

  • Receivables Purchase Documents means those documents entered into in connection with any series of receivables purchase or sale agreements generally consistent with terms contained in comparable structured finance transactions pursuant to which the Borrower or any of its Subsidiaries, in their respective capacities as sellers or transferors of any receivables, sell or transfer to SPCs all of their respective rights, title and interest in and to certain receivables for further sale or transfer to other purchasers of or investors in such assets (and the other documents, instruments and agreements executed in connection therewith), as any such agreements may be amended, restated, supplemented or otherwise modified from time to time, or any replacement or substitution therefor.