Common use of Conveyance of Conveyed Assets; Security Interests Clause in Contracts

Conveyance of Conveyed Assets; Security Interests. Except for the transfers and conveyances under the Contribution Agreement Supplements and pursuant to the Master Facility Agreement, ABS will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Adverse Claim on any Asset, or any interest therein and ABS shall defend the right, title, and interest of the Related Obligors and their successors and assigns in, to, and under the Conveyed Assets, against all claims of third parties claiming through or under ABS; provided, however, that nothing in this Section 4.01(h), shall prevent or be deemed to prohibit ABS from suffering to exist upon any of the Conveyed Assets any Adverse Claim for federal, state, municipal or other local taxes if such taxes shall not at the time be due and payable or if ABS shall concurrently be contesting the validity thereof in good faith by appropriate proceedings which act to stay enforcement thereof and shall have set aside on its books adequate reserves with respect thereto.

Conveyance of Conveyed Assets; Security Interests. Except for the transfers sales and conveyances under the Contribution this Master Sale Agreement Supplements and under each Sale Agreement Supplement and pursuant to the Master Facility Agreement, ABS will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Adverse Claim on any Asset, or any interest therein and ABS shall defend the right, title, and interest of the Related Obligors and their successors and assigns in, to, to and under the Conveyed Assets, against all claims of third parties claiming through or under ABS; ABS provided, however, however that nothing in this Section 4.01(h), shall prevent or be deemed to prohibit ABS from suffering to exist upon any of the Conveyed Assets any Adverse Claim for federal, state, municipal or other local taxes if such taxes shall not at the time be due and payable or if ABS shall concurrently be contesting the validity thereof in good faith by appropriate proceedings which act to stay enforcement thereof and shall have set aside on its books adequate reserves with respect thereto.

Conveyance of Conveyed Assets; Security Interests. Except for the transfers sales and conveyances under the Contribution this Master Sale Agreement Supplements and under each Sale Agreement Supplement and pursuant to the Master Facility AgreementAgreement and the Series Supplements, ABS will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Adverse Claim on any Asset, or any interest therein and ABS shall defend the right, title, and interest of the Related Obligors and their successors and assigns in, to, to and under the Conveyed Assets, against all claims of third parties claiming through or under ABS; provided, however, however that nothing in this Section subsection 4.01(h), shall prevent or be deemed to prohibit ABS from suffering to exist upon any of the Conveyed Assets any Adverse Claim for federal, state, municipal or other local taxes if such taxes shall not at the time be due and payable or if ABS shall concurrently be contesting the validity thereof in good faith by appropriate proceedings which act to stay enforcement thereof and shall have set aside on its books adequate reserves with respect thereto.

Conveyance of Conveyed Assets; Security Interests. Except for the transfers sales and conveyances under the Contribution this Master Sale Agreement Supplements and under each Sale Agreement Supplement and pursuant to the Master Facility Agreement, ABS will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Adverse Claim on any Asset, or any interest therein and ABS shall defend the right, title, and interest of the Related Obligors and their successors and assigns in, to, to and under the Conveyed Assets, against all claims of third parties claiming through or under ABS; provided, however, however that nothing in this Section subsection 4.01(h), shall prevent or be deemed to prohibit ABS from suffering to exist upon any of the Conveyed Assets any Adverse Claim for federal, state, municipal or other local taxes if such taxes shall not at the time be due and payable or if ABS shall concurrently be contesting the validity thereof in good faith by appropriate proceedings which act to stay enforcement thereof and shall have set aside on its books adequate reserves with respect thereto.