First Step Receivables Assignments definition

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

  • No failure or delay on the part of ▇▇▇▇ in exercising any power, right or remedy under this Agreement or the First Step Receivables Assignments shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or further exercise thereof or the exercise of any other power, right or remedy.

  • The representations and warranties of ▇▇▇▇ hereunder shall be true and correct as of the Initial Closing Date with respect to the Initial Receivables and as of the Subsequent Closing Date with respect to the Additional Receivables with the same effect as if then made, and ▇▇▇▇ shall have performed all obligations to be performed by it hereunder or pursuant to the First Step Receivables Assignments on or prior to the closing hereunder.

  • The Seller acknowledges that ▇▇▇▇ may, pursuant to the Further Transfer and Servicing Agreements, sell the Receivables to the Issuing Entity and assign its rights hereunder and under the First Step Receivables Assignments to the Issuing Entity, subject to the terms and conditions of the Further Transfer and Servicing Agreements, and that the Issuing Entity may in turn further pledge, assign or transfer its rights in the Receivables and this Agreement and the First Step Receivables Assignments.

  • The provisions of this Agreement and the First Step Receivables Assignments are solely for the benefit of the Seller, the Servicer and ▇▇▇▇ and, to the extent expressly provided herein, the Interested Parties, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in, under, or in respect of this Agreement or any covenants, conditions or provisions contained herein.

  • The Certificate of Trust, the Trust Agreement, the Pooling and Servicing Agreement (including the First Step Receivables Assignments), the Trust Sale and Servicing Agreement (including the Second Step Receivables Assignments), the Custodian Agreement, the Administration Agreement, the Indenture, the Note Depository Agreement, the Notes, the Certificates and the other documents and certificates delivered in connection therewith.

  • By its execution of the Further Transfer and Servicing Agreements to which it is a party, the Seller shall acknowledge the assignment by ▇▇▇▇ of such of its right, title and interest in, to and under this Agreement and the First Step Receivables Assignments to the Issuing Entity as shall be provided in the Further Transfer and Servicing Agreements.

  • Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignments, each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party.

  • The Seller shall authorize and execute, as applicable, and file such financing statements or amendments to financing statements and cause to be authorized and executed, as applicable, and filed such continuation and other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of ▇▇▇▇ under this Agreement and the First Step Receivables Assignments in the Receivables and the other Purchased Property and in the proceeds thereof.

  • The Seller shall authorize or prepare, as applicable, and file such financing statements or amendments to financing statements and cause to be authorized and prepared, as applicable, and filed such continuation and other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of ▇▇▇▇ under this Agreement and the First Step Receivables Assignments in the Receivables and the other Purchased Property and in the proceeds thereof.

  • Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignment[s], each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party.

Related to First Step Receivables Assignments

  • 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.

  • 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.

  • 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 Price means $1,610,505,281.69.