Common use of Due Authorization and No Violation Clause in Contracts

Due Authorization and No Violation. This Agreement and each Assignment have been duly authorized, executed and delivered by the Depositor, and is the valid, binding and enforceable obligation of the Depositor except as the same may be limited by insolvency, bankruptcy, reorganization or other laws relating to or affecting the enforcement of creditors’ rights or by general equity principles. The consummation of the transactions contemplated by this Agreement and each Assignment, and the fulfillment of the terms hereof, will not conflict with or result in a breach of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Depositor pursuant to the terms of, any indenture, mortgage, deed of trust, loan agreement, guarantee, lease financing agreement or similar agreement or instrument under which the Depositor is a debtor or guarantor, nor will such action result in any violation of the provisions of the limited liability company agreement of the Depositor.

Appears in 3 contracts

Samples: Contribution Agreement (Santander Drive Auto Receivables Trust 2007-3), Contribution Agreement (Santander Drive Auto Receivables Trust 2007-2), Contribution Agreement (Santander Drive Auto Receivables Trust 2007-1)

AutoNDA by SimpleDocs

Due Authorization and No Violation. This Agreement and each Assignment have has been duly authorized, executed and delivered by the DepositorPurchaser, and is the valid, binding and enforceable obligation of the Depositor Purchaser except as the same may be limited by insolvency, bankruptcy, reorganization or other laws relating to or affecting the enforcement of creditors' rights or by general equity principles. The consummation of the transactions contemplated by this Agreement and each AssignmentAgreement, and the fulfillment of the terms hereofthereof, will not conflict with or result in a breach of any of the terms or provisions of, or constitute a default underunder (in each case material to the Purchaser), or result in the creation or imposition of any lien, charge or encumbrance Lien material to the Purchaser upon any of the property or assets of the Depositor Purchaser pursuant to the terms of, any indenture, mortgage, deed of trust, loan agreement, guarantee, lease financing agreement or similar agreement or instrument under which the Depositor Purchaser is a debtor or guarantor, nor will such action result in any violation of the provisions of the limited liability company agreement Certificate of Incorporation or the By-laws of the DepositorPurchaser.

Appears in 3 contracts

Samples: Purchase Agreement (Nissan Auto Receivables Corp /De), Purchase Agreement (Nissan Auto Receivables Corp /De), Purchase Agreement (Nissan Auto Receivables 1998-a Grantor Trust)

AutoNDA by SimpleDocs

Due Authorization and No Violation. This Agreement and each Assignment have has been duly ---------------------------------- authorized, executed and delivered by the DepositorPurchaser, and is the valid, binding and enforceable obligation of the Depositor Purchaser except as the same may be limited by insolvency, bankruptcy, reorganization or other laws relating to or affecting the enforcement of creditors' rights or by general equity principles. The consummation of the transactions contemplated by this Agreement and each AssignmentAgreement, and the fulfillment of the terms hereofthereof, will not conflict with or result in a breach of any of the terms or provisions of, or constitute a default underunder (in each case material to the Purchaser), or result in the creation or imposition of any lien, charge or encumbrance Lien material to the Purchaser upon any of the property or assets of the Depositor Purchaser pursuant to the terms of, any indenture, mortgage, deed of trust, loan agreement, guarantee, lease financing agreement or similar agreement or instrument under which the Depositor Purchaser is a debtor or guarantor, nor will such action result in any violation of the provisions of the limited liability company agreement Certificate of Incorporation or the By-laws of the DepositorPurchaser.

Appears in 1 contract

Samples: Purchase Agreement (Nissan Auto Receivables Corp /De)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!