Common use of Characterization Clause in Contracts

Characterization. The Receivables constitute “tangible chattel paper” within the meaning of UCC Section 9-102. The rights granted under the agreements described in clause 1 (ii) and (iii) constitute “general intangibles” within the meaning of UCC Section 9-102. CNHCR has taken all steps necessary to perfect its security interest in the property securing the Receivables within 10 days of the Closing Date.

Characterization. The Receivables constitute “tangible chattel paper” within the meaning of UCC Section 9-102. The rights granted under the agreements described in clause 1 1(ii) through (ii) and (iiiiv) constitute “general intangibles” within the meaning of UCC Section 9-102. CNHCR The Issuing Entity has taken or will take all steps necessary to perfect its security interest in the property securing the Receivables within 10 days of the Closing Date.

Characterization. The Receivables constitute “tangible chattel paper” within the meaning of UCC Section 9-102. The rights granted under the agreements described in clause 1 (ii) and (iii) constitute “general intangibles” within the meaning of UCC Section 9-102. CNHCR has taken all steps necessary to perfect its security interest in the property securing the Receivables within 10 days of the Closing DateReceivables.

Characterization. The Receivables constitute “tangible chattel paper” or “electronic chattel paper”, as the case may be, within the meaning of UCC Section 9-102. The rights granted under the agreements described in clause 1 (ii) and (iii) constitute “general intangibles” within the meaning of UCC Section 9-102. CNHCR has taken all steps necessary to perfect its security interest in the property securing the Receivables within 10 days of the Closing Date.

Characterization. The Receivables constitute “tangible chattel paper” or “electronic chattel paper”, as the case may be, within the meaning of UCC Section 9-102. The rights granted under the agreements described in clause 1 1(ii) through (ii) and (iiiiv) constitute “general intangibles” within the meaning of UCC Section 9-102. CNHCR The Issuing Entity has taken or will take all steps necessary to perfect its security interest in the property securing the Receivables within 10 days of the Closing Date.

Characterization. The Receivables constitute “"tangible chattel paper” " within the meaning of UCC Section 9-102. The rights granted under the agreements described in clause 1 (ii) and through (iiiiv) constitute “"general intangibles” " within the meaning of UCC Section 9-102. CNHCR The Issuer has taken all steps necessary to perfect its security interest in the property securing the Receivables within 10 days of the Closing DateReceivables.

Characterization. The Receivables constitute “"tangible chattel paper” " within the meaning of UCC Section 9-102. The rights granted under the agreements described in clause 1 (ii) and (iii) constitute “"general intangibles” " within the meaning of UCC Section 9-102. CNHCR has taken all steps necessary to perfect its security interest in the property securing the Receivables within 10 days of the Closing DateReceivables.