Filing; Maintenance of Contract Files. (a) On or prior to the Series Closing Date with respect to a Series, the Obligors shall, and shall cause the Originator to, file blanket UCC-1 financing statements with respect to the related Series Trust Estate (which, in the case of any UCC-1 Financing Statement filed by the Obligors against the Originator, shall be assigned by the Obligors to the Trustee). Notwithstanding the foregoing, it is expressly agreed that no such UCC-1 Financing Statement shall be filed with respect to the Originator's ownership interest in any particular piece of Equipment, except to the extent then required by the Servicer's Credit and Collection Policy, or as may otherwise be required in the related Sale Agreement Supplement. On or prior to each Series Closing Date the Obligors shall, and shall cause the Originator to mark xxx internal records (including, where applicable, its electronic ledger) to reflect (x) the conveyance of the related Pledged Property from the Originator to the Obligors and (y) the Pledge of the related Pledged Property to the Trustee.
Appears in 2 contracts
Samples: Master Facility Agreement (Advanta Leasing Receivables Corp Ix), Master Facility Agreement (Advanta Leasing Receivables Corp Ix)
Filing; Maintenance of Contract Files. (a) On or prior to the Series Closing initial Pledge Date with respect to a Series, the related Series Obligors shall, and shall cause the Originator Transferor to, file blanket UCC-1 financing statements with respect to the related Series Trust Estate (which, in the case of any UCC-1 Financing Statement filed by the such Obligors against the OriginatorTransferor, shall be assigned by the such Obligors to the Trustee). Notwithstanding the foregoing, it is expressly agreed that no such UCC-1 Financing Statement shall be filed with respect to the Originator's ownership interest in any particular piece of Equipment, except to the extent then required by the Servicer's Credit and Collection Policy, or as may otherwise be required in the related Sale Transfer Agreement Supplement or any applicable Series Supplement. On or prior to each Series Closing Pledge Date the related Obligors shall, and shall cause the Originator to mark xxx Transferor to, xxxx their respective internal records (including, where applicablein the case of the Contractor, its electronic ledger) to reflect (x) the sale and conveyance of the related Pledged Property from the Originator Transferor to the related Obligors and (y) the Pledge of the related Pledged Property to the Trustee.
Appears in 2 contracts
Samples: Master Lease Receivables Asset Backed Financing Facility Agreement (Marlin Business Services Inc), Master Lease Receivables Asset Backed Financing Facility Agreement (Marlin Business Services Inc)
Filing; Maintenance of Contract Files. (a) On or prior to the Series Closing Date with respect to a Series, the Obligors shall, and shall cause the Originator to, file blanket UCC-1 financing statements with respect to the related Series Trust Estate (which, in the case of any UCC-1 Financing Statement filed by the Obligors against the Originator, shall be assigned by the Obligors to the Trustee). Notwithstanding the foregoing, it is expressly agreed that no such UCC-1 Financing Statement shall be filed with respect to the Originator's ownership interest in any particular piece of Equipment, except to the extent then required by the Servicer's Credit and Collection Policy, or as may otherwise be required in the related Sale Contribution Agreement Supplement or Series Supplement. On or prior to each Series Closing Date the Obligors shall, and shall cause the Originator to mark xxx internal records (including, where applicable, its electronic ledger) to reflect (x) the conveyance of the related Pledged Property from the Originator to the Obligors and (y) the Pledge of the related Pledged Property to the Trustee. In no event shall the Trustee be responsible for the filing, monitoring or maintenance of any UCC financing statements, amendments or continuation statements hereunder.
Appears in 1 contract
Samples: Master Facility Agreement (Advanta Business Services Corp)