Common use of Creation Clause in Contracts

Creation. Immediately prior to the sale, transfer, assignment and conveyance of a Receivable by the Bank to the Purchaser, the Bank owned and had good and marketable title to such Receivable free and clear of any Lien and immediately after the sale, transfer, assignment and conveyance of such Receivable to the Purchaser, the Purchaser will have good and marketable title to such Receivable free and clear of any Lien.

Appears in 23 contracts

Samples: Purchase Agreement (Usaa Acceptance LLC), Purchase Agreement (Usaa Acceptance LLC), Purchase Agreement (Usaa Acceptance LLC)

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Creation. Immediately prior to the sale, transfer, contribution, assignment and and/or conveyance of a Receivable by the Bank to the PurchaserXXXX, the Bank owned and had good and marketable title to such Receivable free and clear of any Lien created by the Bank (other than any Liens in favor of XXXX) and immediately after the sale, transfer, assignment and conveyance of such Receivable to the PurchaserXXXX, the Purchaser XXXX will have good and marketable title to such Receivable free and clear of any Lien.

Appears in 16 contracts

Samples: Purchase Agreement (Capital One Prime Auto Receivables Trust 2022-2), Purchase Agreement (Capital One Prime Auto Receivables Trust 2023-2), Purchase Agreement (Capital One Prime Auto Receivables Trust 2023-2)

Creation. Immediately prior to the sale, transfer, contribution, assignment and and/or conveyance of a Receivable by the Bank to the Purchaser, XXXX the Bank owned and had good and marketable title to such Receivable free and clear of any Lien created by the Bank (other than any Liens in favor of XXXX) and immediately after the sale, transfer, assignment and conveyance of such Receivable to the PurchaserXXXX, the Purchaser XXXX will have good and marketable title to such Receivable free and clear of any Lien.

Appears in 3 contracts

Samples: Purchase Agreement (Capital One Auto Receivables LLC), Purchase Agreement (Capital One Auto Receivables LLC), Purchase Agreement (Capital One Auto Receivables LLC)

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Creation. Immediately prior to the sale, transfer, contribution, assignment and and/or conveyance of a Receivable by the Bank to the PurchaserCOAR, the Bank owned and had good and marketable title to such Receivable free and clear of any Lien created by the Bank (other than any Liens in favor of XXXX) and immediately after the sale, transfer, assignment and conveyance of such Receivable to the PurchaserXXXX, the Purchaser XXXX will have good and marketable title to such Receivable free and clear of any Lien.

Appears in 1 contract

Samples: Purchase Agreement (Capital One Prime Auto Receivables Trust 2024-1)

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