Common use of CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE Clause in Contracts

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement acknowledgment of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 719,046.64 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to the Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement acknowledgment of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 1,579,199.77 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 744,946.40 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement acknowledgment of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 795,575.47 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to the Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement acknowledgment of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 1,138,490.31 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement acknowledgment of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 258,491.90 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 1,383,884.24 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement acknowledgment of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 282,599.98 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 732,549.04 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 1,166,007.36 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 1,275,680.98 in the Reserve Account.

CONDITIONS TO ACCEPTANCE BY OWNER TRUSTEE. As conditions to Owner Trustee's execution and delivery of the Notes on behalf of the Trust and execution, authentication and delivery of the Certificates on behalf of the Trust on the Closing Date, the Owner Trustee shall have received the following on or before the Closing Date: (a) The Schedule of Initial Receivables certified by the President, Controller or Treasurer of the Seller; (b) The acknowledgement of the Custodian that it holds the Receivable File relating to each Initial Receivable; (c) Copies of resolutions of the Board of Directors of the Seller approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of the Seller; (d) Copies of resolutions of the Board of Directors of OFL AFL approving the execution, delivery and performance of this Agreement, the Related Documents and the transactions contemplated hereby and thereby, certified by a Secretary or an Assistant Secretary of OFLAFL; (e) Evidence that all filings (including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction (other than those actions to be taken with respect to Subsequent Receivables pursuant to Section 2.4) to give the Owner Trustee a first priority perfected lien on, or ownership interest in, the Receivables and the other Trust Property have been made, taken or performed; and (f) An executed copy of the Certificate Policy and Spread Account Agreement and evidence of the deposit of $1,321,082.10 1,399,225.10 in the Reserve Account.