Common use of Further Representations of the Trust Clause in Contracts

Further Representations of the Trust. (i) Each of the Class A-2 Notes, Class A-3 Notes and Class A-4 Notes are rated "Aaa" by Moody's Investor Services, Inc. and "AAA" by Fitcx xx xx the timely payment of interest and principal and without regard to third party credit enhancement. (ii) All conditions precedent to the issuance of the Notes under the Indenture have been satisfied. (iii) Each of the documents to which it is a party has been duly authorized, executed and delivered by it. (iv) Assuming the due authorization, execution and delivery thereof by the other parties thereto, each of the Indenture and the other documents to which the Trust is a party constitutes the legal, valid and binding obligations of the Trust, enforceable against the Trust in accordance with the terms thereof, subject to applicable bankruptcy, insolvency and similar laws or legal principles affecting creditors' rights generally, and subject, as to enforceability, to general principles of equity regardless of whether enforcement is sought in a proceeding in equity or at law. (v) The Indenture and the other documents to which the Trust is a party are in full force and effect on the date hereof and there have been no amendments or waivers or modifications of any of the terms thereof since the original execution and delivery of the Indenture and the other documents to which the Trust is a party, except such as may have been delivered to the Trust. (vi) To the best of its knowledge no event of default or event which would with the passage of time or the giving of notice constitute an event of default has occurred and is continuing under any of the documents to which the Trust is a party.

Appears in 1 contract

Samples: Isda Master Agreement (Mmca Auto Owner Trust 2001 2)

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Further Representations of the Trust. (i) Each of the Class A-2 Notes, Class A-3 Notes and The Class A-4 Notes are rated "Aaa" by Moody's Investor Services, Inc. and Inc., "AAA" by Fitcx xx xx S&P xxx "XAA" by Fitch Ratings as to the timely payment of interest and principal and without regard to third party credit enhancement. (ii) All conditions precedent to the issuance of the Notes under the Indenture have been satisfied. (iii) Each of the documents to which it is a party has been duly authorized, executed and delivered by it. (iv) Assuming the due authorization, execution and delivery thereof by the other parties thereto, each of the Indenture and the other documents to which the Trust is a party constitutes the legal, valid and binding obligations of the Trust, enforceable against the Trust in accordance with the terms thereof, subject to applicable bankruptcy, insolvency and similar laws or legal principles affecting creditors' rights generally, and subject, as to enforceability, to general principles of equity regardless of whether enforcement is sought in a proceeding in equity or at law. (v) The Indenture and the other documents to which the Trust is a party are in full force and effect on the date hereof and there have been no amendments or waivers or modifications of any of the terms thereof since the original execution and delivery of the Indenture and the other documents to which the Trust is a party, except such as may have been delivered to the Trust. (vi) To the best of its knowledge no event of default or event which would with the passage of time or the giving of notice constitute an event of default has occurred and is continuing under any of the documents to which the Trust is a party.

Appears in 1 contract

Samples: Isda Master Agreement (Mmca Auto Receivables Trust)

Further Representations of the Trust. (i) Each of the Class A-2 Notes, Notes and the Class A-3 Notes and Class A-4 Notes are rated "Aaa" by Moody's Xxxxx'x Investor Services, Inc. Inc., "AAA" by Standard and Poor's, and "AAA" by Fitcx xx xx Fitch as to the timely payment of interest and principal and without regard to third party credit enhancement. (ii) All conditions precedent to the issuance of the Notes under the Indenture have been satisfied. (iii) Each of the documents to which it is a party has been duly authorized, executed and delivered by it. (iv) Assuming the due authorization, execution and delivery thereof by the other parties thereto, each of the Indenture and the other documents to which the Trust is a party constitutes the legal, valid and binding obligations of the Trust, enforceable against the Trust in accordance with the terms thereof, subject to applicable bankruptcy, insolvency and similar laws or legal principles affecting creditors' rights generally, and subject, as to enforceability, to general principles of equity regardless of whether enforcement is sought in a proceeding in equity or at law. (v) The Indenture and the other documents to which the Trust is a party are in full force and effect on the date hereof and there have been no amendments or waivers or modifications of any of the terms thereof since the original execution and delivery of the Indenture and the other documents to which the Trust is a party, except such as may have been delivered to the Trust. (vi) To the best of its knowledge no event of default or event which would with the passage of time or the giving of notice constitute an event of default has occurred and is continuing under any of the documents to which the Trust is a party.

Appears in 1 contract

Samples: Isda Master Agreement (Mmca Auto Owner Trust 2001 2)

Further Representations of the Trust. (i) Each of the Class A-2 Notes, Class A-3 Notes and The Class A-4 Notes are rated "Aaa" by Moody's Investor Services, Inc. and Inc., "AAA" by Fitcx xx xx S&P anx "XXX" by Fitch Ratings as to the timely payment of interest and principal and without regard to third party credit enhancement. (ii) All conditions precedent to the issuance of the Notes under the Indenture have been satisfied. (iii) Each of the documents to which it is a party has been duly authorized, executed and delivered by it. (iv) Assuming the due authorization, execution and delivery thereof by the other parties thereto, each of the Indenture and the other documents to which the Trust is a party constitutes the legal, valid and binding obligations of the Trust, enforceable against the Trust in accordance with the terms thereof, subject to applicable bankruptcy, insolvency and similar laws or legal principles affecting creditors' rights generally, and subject, as to enforceability, to general principles of equity regardless of whether enforcement is sought in a proceeding in equity or at law. (v) The Indenture and the other documents to which the Trust is a party are in full force and effect on the date hereof and there have been no amendments or waivers or modifications of any of the terms thereof since the original execution and delivery of the Indenture and the other documents to which the Trust is a party, except such as may have been delivered to the Trust. (vi) To the best of its knowledge no event of default or event which would with the passage of time or the giving of notice constitute an event of default has occurred and is continuing under any of the documents to which the Trust is a party.

Appears in 1 contract

Samples: Isda Master Agreement (Mmca Auto Owner Trust 2002-1)

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Further Representations of the Trust. (i) Each of the The Class A-2 Notes, Class A-3 Notes and Class A-4 A Notes are rated "Aaa" by Moody's Investor Services's, Inc. "AAA" by S&P and "AAA" by Fitcx xx xx the timely Fitch Ratings, xxx Xxxss B Notes are rated "Aa2" by Moody's, "AA" by S&P and "AA" by Fitch Ratings, and xxx Xlass C Notes are rated "A2" by Moody's, "A" by S&P and "A" by Fitch Ratings as to xxx xxmely payment of interest and principal and without regard to third party credit enhancement. (ii) All conditions precedent to the issuance of the Notes under the Indenture have been satisfied. (iii) Each of the documents to which it is a party has been duly authorized, executed and delivered by it. (iv) Assuming the due authorization, execution and delivery thereof by the other parties thereto, each of the Indenture and the other documents to which the Trust is a party constitutes the legal, valid and binding obligations of the Trust, enforceable against the Trust in accordance with the terms thereof, subject to applicable bankruptcy, insolvency and similar laws or legal principles affecting creditors' rights generally, and subject, as to enforceability, to general principles of equity regardless of whether enforcement is sought in a proceeding in equity or at law. (v) The Indenture and the other documents to which the Trust is a party are in full force and effect on the date hereof and there have been no amendments or waivers or modifications of any of the terms thereof since the original execution and delivery of the Indenture and the other documents to which the Trust is a party, except such as may have been delivered to the Trust. (vi) To the best of its knowledge no event of default or event which would with the passage of time or the giving of notice constitute an event of default has occurred and is continuing under any of the documents to which the Trust is a party.

Appears in 1 contract

Samples: Isda Master Agreement (Mmca Auto Owner Trust 2002-5)

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