Common use of Characteristics of Contracts Clause in Contracts

Characteristics of Contracts. (i) Each Contract has been originated in the United States by a Dealer for the retail sale of a Financed Vehicle in the ordinary course of such Dealer’s business, has been fully and properly executed by the parties thereto, has been validly assigned by such Dealer to the Originator, and validly assigned to the Seller by Santander Consumer pursuant to the Contribution Agreement in accordance with its terms;

Characteristics of Contracts. (i) Each Contract has been originated in the United States by a Dealer for the retail sale of a Financed Vehicle in the ordinary course of such Dealer’s business, has been fully and properly executed by the parties thereto, has been validly assigned by such Dealer to the Originator, and validly assigned to the Seller by Santander Drive Consumer pursuant to the Contribution Agreement in accordance with its terms;