Company Authorization and No Contravention. The execution, delivery and performance by the Depositor of each Transaction Document to which it is a party (i) have been duly authorized by all necessary limited liability company action and (ii) do not contravene or constitute a default under (A) any applicable law, rule or regulation, (B) its organizational documents or (C) any agreement, contract, order or other instrument to which it is a party or its property is subject and (iii) will not result in any Adverse Claim on the Exchange Note or give cause for the acceleration of any indebtedness of the Depositor.
Appears in 38 contracts
Samples: Exchange Note Transfer Agreement (World Omni LT), Exchange Note Transfer Agreement (World Omni LT), Exchange Note Transfer Agreement (World Omni LT)
Company Authorization and No Contravention. The execution, delivery and performance by the Depositor Seller of each Transaction Document to which it is a party (i) have been duly authorized by all necessary limited liability company action and (ii) do not contravene or constitute a default under (A) any applicable law, rule or regulation, (B) its organizational documents or (C) any agreement, contract, order or other instrument to which it is a party or its property is subject and (iii) will not result in any Adverse Claim on the Exchange Note Transaction SUBI or give cause for the acceleration of any indebtedness of the DepositorSeller.
Appears in 33 contracts
Samples: Subi Transfer Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Subi Transfer Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Subi Transfer Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
