Assignment of debt or receivables

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..... receivables assigned to the special purpose distinct entity that the following conditions are fulfilled: (a) the debt or receivables generates or is reasonably expected to generate identifiable cash flows for the purpose of servicing the securitised debt instruments in accordance with the scheme; (b) the originator has a valid enforceable interest in the assets and in the cash flow of the asset .....

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..... resentations and warranties made by the originator regarding the debt or receivables are duly adhered to. (2) The special purpose distinct entity and the originator shall take all necessary steps to ensure that the debt or receivables acquired by the special purpose distinct entity are duly assigned in its name and are legally realizable by it. (3) No special purpose distinct entity shall acquir .....

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..... d with the assets of the originator or the sponsor, in the event of insolvency or winding up of either of them. (5) The special purpose distinct entity and its trustees shall ensure that the debt and receivables assigned to it are through a genuine transaction amounting to a true sale and are legally realizable by it and the special purpose distinct entity shall be remote from the risk of bankrup .....

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