Common use of Continuation Statements; Opinion Clause in Contracts

Continuation Statements; Opinion. Without limiting the generality of subsection (c), Seller will, not earlier than six (6) months and not later than three (3) months prior to the fifth (5th) anniversary of the date of filing of each financing statement referred to in Section 5.1(d) (or any other financing statement filed pursuant to this Agreement or in connection with any Purchase hereunder), unless the Final Payout Date shall have occurred: (i) execute and deliver and file or cause to be filed an appropriate continuation statement with respect to such financing statement; and (ii) deliver or cause to be delivered to the Administrator an opinion of the counsel for Seller, in form and substance reasonably satisfactory to the Administrator, confirming and updating the opinion delivered pursuant to Section 5.1(g) with respect to perfection and otherwise to an enforceable and perfected ownership or security interest, subject to no other liens of record except as provided herein or otherwise permitted hereunder.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Land O Lakes Inc), Receivables Purchase Agreement (Land O Lakes Inc)

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Continuation Statements; Opinion. Without limiting the generality of subsection (c), Seller will, not earlier than six (6) months and not later than three (3) months prior to the fifth (5th) anniversary of the date of filing of each financing statement referred to in Section 5.1(d) (or any other financing statement filed pursuant to this Agreement or the Existing Receivables Purchase Agreement or in connection with any Purchase hereunder)hereunder or thereunder, unless the Final Payout Date shall have occurred: (i) execute and deliver and file or cause to be filed an appropriate continuation statement with respect to such financing statement; and (ii) deliver or cause to be delivered to the Administrator an opinion of the counsel for Seller, in form and substance reasonably satisfactory to the Administrator, confirming and updating the opinion delivered pursuant to Section 5.1(g5.1(f) with respect to perfection and otherwise to an enforceable and perfected ownership or security interest, subject to no other liens of record except as provided herein or otherwise permitted hereunder.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Land O Lakes Inc), Receivables Purchase Agreement (Land O Lakes Inc)

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