Existence and Power. The Administrator is a corporation validly existing and in good standing under the laws of its state of organization and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, to deliver and to perform its obligations under the Transaction Documents to which it is a party. The Administrator has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents or affect the enforceability or collectability of the Receivables or any other part of the Collateral.
Appears in 135 contracts
Samples: Administration Agreement (Santander Drive Auto Receivables Trust 2024-5), Administration Agreement (Drive Auto Receivables Trust 2024-2), Administration Agreement (Drive Auto Receivables Trust 2024-2)
Existence and Power. The Administrator is a corporation validly existing and in good standing under the laws of its state of organization and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, to deliver and to perform its obligations under the Transaction Documents to which it is a party. The Administrator has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents or affect the enforceability or collectability collectibility of the Receivables or any other part of the Collateral.
Appears in 31 contracts
Samples: Administration Agreement (Santander Drive Auto Receivables LLC), Administration Agreement (Santander Drive Auto Receivables Trust 2013-1), Administration Agreement (Santander Drive Auto Receivables Trust 2013-1)
Existence and Power. The Administrator is a corporation validly existing and in good standing under the laws of its state of organization and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, to deliver and to perform its obligations under the Transaction Documents to which it is a party. The Administrator has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents or affect the enforceability or collectability of the Receivables or any other part of the Collateral.
Appears in 12 contracts
Samples: Administration Agreement (Santander Drive Auto Receivables LLC), Administration Agreement (Santander Drive Auto Receivables LLC), Administration Agreement (Santander Drive Auto Receivables LLC)
Existence and Power. The Administrator is a corporation validly existing and in good standing under the laws of its state of organization and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, to deliver and to perform its obligations under the Transaction Documents to which it is a party. The Administrator has obtained all necessary licenses and approvals in each jurisdiction where it does business and where the failure to do so would materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents or affect the enforceability or collectability of the Receivables or any other part of the Collateral.
Appears in 11 contracts
Samples: Administration Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Administration Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Administration Agreement (Bridgecrest Lending Auto Securitization Trust 2024-3)