Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / draft-opinion-true-sale-qpf-to-qrh.docx
draft-opinion-true-sale-qpf-to-qrh.docx
Parties
HARKNESS LLP
Quorum Insurance Holdings Corp
Ridgeline Capital Markets LLC
Quorum Premium Finance LLC
Quorum Receivables Holding LLC
Brindoval Ratings Inc
Pinnacle Rating Services LLC
M. Vasquez
Dates
October 8, 2022
October 12, 2022
August 3, 2022
July 27, 2022
June 30, 2022
Amounts
$500,000,000
$375,000,000
$75,000,000
$35,000,000
$612,000,000
$450,000,000
$7,427
$2,325,600
$13,096,800
Obligations
DEFINITIONS Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Sale Agreement
1(a) of the Sale Agreement states that "[i]t is the express intention of the parties hereto that the transfer of the Receivables by the Seller to the Purchaser hereunder shall constitute a true, absolute and irrevocable sale and assignment of such Receivables, and not a pledge or grant of a security interest therein
The repurchase obligation is analogous to the warranty of title and quality that a seller provides in any arm's-length sale transaction: if the goods (or receivables) do not conform to the seller's representations, the seller is required to take them back