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, all power and authority to carry on its business as now conducted. 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.
Appears in 62 contracts
Samples: Administration Agreement (World Omni LT), Administration Agreement (World Omni LT), Administration Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, 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, all power and authority to carry on its business as now conducted. 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 DocumentsDocuments or affect the enforceability or collectibility of the Receivables or any other part of the Collateral.
Appears in 43 contracts
Samples: Administration Agreement (Porsche Auto Funding LLC), Administration Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Administration Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Existence and Power. The Administrator is a corporation federally chartered savings association validly existing and in good standing under the laws of its state of organization the United States and has, in all material respects, all power and authority to carry on its business as now conducted. 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 DocumentsDocuments or affect the enforceability or collectibility of the Receivables or any other part of the Collateral.
Appears in 22 contracts
Samples: Administration Agreement (Usaa Acceptance LLC), Administration Agreement (Usaa Acceptance LLC), Administration Agreement (Usaa Acceptance 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, all power and authority to carry on its business as now conducted. 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.)
Appears in 5 contracts
Samples: Administration Agreement (World Omni Automobile Lease Securitization Trust 2012-A), Administration Agreement (World Omni Auto Leasing LLC), Administration Agreement (World Omni Automobile Lease Securitization Trust 2011-A)
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, all power and authority to carry on its business as now conducted. 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.Documents or affect the enforceability or collectibility of the Receivables or any other part of the Collateral. Administration Agreement (VALET 2008-1)
Appears in 1 contract
Samples: Administration Agreement (Volkswagen Auto Loan Enhanced Trust 2008-1)
Existence and Power. The Administrator is a corporation national association validly existing and in good standing under the laws of its state of organization and has, in all material respects, all power and authority to carry on its business as now conducted. 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 DocumentsDocuments or affect the enforceability or collectability of the Receivables or any other part of the Collateral.
Appears in 1 contract
Samples: Administration Agreement (Fifth Third Holdings Funding, LLC)