Sprint - Nextel 2015 Annual Report Download - page 300

Customer Receivables with respect to which, is not owed to any Originator or any Lessee as a bailee or consignee for
another Person, and (v) the Customer Receivables with respect to which, is not issued under cash-in-advance or cash-
on-account terms;
(b) which constitutes either “chattel paper”, "electronic chattel paper" or an “account” as defined in Section 9-102(a) of
the UCC;
(c) the Customer Receivable with respect to which is not a Defaulted Customer Receivable or a Delinquent Receivable;
(d) under which the Customer is not a Governmental Authority; provided, that any Customer Lease under which the
lessee is a Governmental Authority but an employee of such Governmental Authority is personally liable for the
Customer Receivables related to such Customer Lease shall be an "Eligible Lease";
(e) the transfer of which pursuant to the Transfer Agreements does not violate or contravene any Law or any related
Transaction Document;
(f) which is denominated and payable only in U.S. Dollars in the United States to any Sprint Party;
(g) that (i) is in full force and effect and constitutes the legal, valid and binding obligation of the related Customer to pay
lease payments and other amounts to a Sprint Party enforceable against such Customer in accordance with its terms,
except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or similar laws
relating to and limiting creditors’ rights generally and by general principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or in law), (ii) is not subject to any dispute, offset, netting, litigation,
counterclaim or defense whatsoever (including defenses arising out of violations of usury Laws) (other than potential
discharge in a bankruptcy of the related Customer), (iii) is not subject to any Lien (other than Permitted Device
Liens), and (iv) the Unpaid Balance of which is not subject to reduction, cancellation, setoff, special refunds or credits
for any reason, including without limitation as a result of defective or rejected goods;
(h) that does not contravene any Law applicable thereto (including Laws relating to usury, consumer protection, truth in
lending, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection practices and privacy) in
any respect which could, individually or in the aggregate, reasonably be expected to have a material adverse effect on
the validity, collectability or enforceability of the related Customer Receivable or would or could, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect and with respect to which the origination
thereof did not violate any such Law in any such respect;
(i) which (i) was originated by the applicable Originator in the ordinary course of its business, (ii) satisfies the
requirements of the Credit and Collections Policy in all