Consolidation or Merger; Sale or Disposition of Assets or Property. (a) The Issuing Entity shall not consolidate or merge with or into any other Person, unless the Issuing Entity shall have delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel addressed to the Issuing Entity, each stating that such consolidation or merger and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty. (b) Except as otherwise expressly permitted by the Indenture or the other Basic Documents, the Issuing Entity shall not sell, convey, exchange, transfer or otherwise dispose of any of its properties or assets, including those included in the Trust Estate, to any Person, unless the Issuing Entity shall have delivered to the Indenture Trustee and the Primary Swap Counterparty an Officer’s Certificate and an Opinion of Counsel addressed to the Issuing Entity, each stating that such sale, conveyance, exchange, transfer or disposition and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.
Appears in 6 contracts
Samples: Swap Counterparty Rights Agreement (Capital Auto Receivables LLC), Swap Counterparty Rights Agreement (Capital Auto Receivables Asset Trust 2008-1), Swap Counterparty Rights Agreement (Capital Auto Receivables Asset Trust 2007-3)
Consolidation or Merger; Sale or Disposition of Assets or Property. (a) The Issuing Entity shall not consolidate or merge with or into any other Person, unless the Issuing Entity shall have delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel addressed to the Issuing Entity, each stating that such consolidation or merger and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.
(b) Except as otherwise expressly permitted by the Indenture or the other Basic Documents, the Issuing Entity shall not sell, convey, exchange, transfer or otherwise dispose of any of its properties or assets, including those included in the Trust Estate, to any Person, unless the Issuing Entity shall have delivered to the Indenture Trustee and the Primary Swap Counterparty an Officer’s Certificate and an Opinion of Counsel addressed to the Issuing Entity, each stating that such sale, conveyance, exchange, transfer or disposition and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.
Appears in 2 contracts
Samples: Swap Counterparty Rights Agreement (Capital Auto Receivables LLC), Swap Counterparty Rights Agreement (Capital Auto Receivables Asset Trust 2007-1)
Consolidation or Merger; Sale or Disposition of Assets or Property. (a) The Issuing Entity shall not consolidate or merge with or into any other Person, unless the Issuing Entity shall have delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel addressed to the Issuing Entity, each stating that such consolidation or merger and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.
(b) Except as otherwise expressly permitted by the Indenture or the other Basic Documents, the Issuing Entity shall not sell, convey, exchange, transfer or otherwise dispose of any of its properties or assets, including those included in the Trust Estate, to any Person, unless the Issuing Entity shall have delivered to the Indenture Trustee and the Primary Swap Counterparty an Officer’s Certificate and an Opinion of Counsel addressed to the Issuing EntityEntity and the Primary Swap Counterparty, each stating that such sale, conveyance, exchange, transfer or disposition and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.
Appears in 2 contracts
Samples: Swap Counterparty Rights Agreement (Ally Auto Receivables Trust 2010-3), Swap Counterparty Rights Agreement (Ally Auto Receivables Trust 2010-3)
Consolidation or Merger; Sale or Disposition of Assets or Property. (a) The Issuing Entity shall not consolidate or merge with or into any other Person, unless the Issuing Entity shall have delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel addressed to the Issuing EntityEntity and the Primary Swap Counterparty, each stating that such consolidation or merger and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.
(b) Except as otherwise expressly permitted by the Indenture or the other Basic Documents, the Issuing Entity shall not sell, convey, exchange, transfer or otherwise dispose of any of its properties or assets, including those included in the Trust Estate, to any Person, unless the Issuing Entity shall have delivered to the Indenture Trustee and the Primary Swap Counterparty an Officer’s Certificate and an Opinion of Counsel addressed to the Issuing EntityEntity and the Primary Swap Counterparty, each stating that such sale, conveyance, exchange, transfer or disposition and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.
Appears in 1 contract
Samples: Swap Counterparty Rights Agreement (Superior Wholesale Inventory Financing Trust 2007-Ae-1)
Consolidation or Merger; Sale or Disposition of Assets or Property. (a) The Issuing Entity shall not consolidate or merge with or into any other Person, unless the Issuing Entity shall have delivered to the Indenture Trustee an Officer’s 's Certificate and an Opinion of Counsel addressed to the Issuing EntityEntity and the Primary Swap Counterparty, each stating that such consolidation or merger and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.
(b) Except as otherwise expressly permitted by the Indenture or the other Basic Documents, the Issuing Entity shall not sell, convey, exchange, transfer or otherwise dispose of any of its properties or assets, including those included in the Trust Estate, to any Person, unless the Issuing Entity shall have delivered to the Indenture Trustee and the Primary Swap Counterparty an Officer’s 's Certificate and an Opinion of Counsel addressed to the Issuing EntityEntity and the Primary Swap Counterparty, each stating that such sale, conveyance, exchange, transfer or disposition and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.
Appears in 1 contract
Samples: Swap Counterparty Rights Agreement (SWIFT Master Auto Receivables Trust)