Maintenance of Security Interests in Financed Vehicles and Receivables Sample Clauses

Maintenance of Security Interests in Financed Vehicles and Receivables. (a) The Owner Trustee hereby directs the Servicer to (i) provide written notice to the Owner Trustee and the Indenture Trustee promptly upon its discovery of the relocation of a Financed Vehicle, (ii) take or cause to be taken such steps as are necessary, in accordance with the standard of care set forth in Section 2.19, to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle and (iii) within three (3) Business Days of its receipt thereof forward to the Custodian (unless the Servicer is the Custodian under the Indenture), on behalf of the Owner Trustee, via reputable overnight courier, any Certificate of Title to a Financed Vehicle received by the Servicer with respect to a Receivable serviced hereunder, whether such Certificate of Title was not previously delivered to the Custodian in connection with the Closing Date or Funding Date, as the case may be, or for any other reason.
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Maintenance of Security Interests in Financed Vehicles and Receivables. (a) Provided that Servicer or any Service Provider is aware of facts which indicate a need to take such actions as described below, Servicer shall, consistent with the standard set forth in Section 2.15, take such actions as are necessary to maintain the continuing perfection and priority of Client's and Agent's right, title and interest in the Receivables and the Collateral, including, but not limited to, obtaining the execution and the registering, re-registering, recording, re-recording, filing, and refiling of all security agreements, Certificates of Title, cautionary financing statements, continuation statements or other instruments as are necessary to maintain the security interests granted by the Obligors under the respective Receivables. Client and Agent authorize Servicer to re-perfect or cause the re-perfection of such security interests on their behalf.
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Maintenance of Security Interests in Financed Vehicles and Receivables. (a) The Depositor hereby directs the Servicer to (i) provide written notice to the Depositor, the Supervisory Servicer, the Rating Agency, the Seller and the Trustee promptly upon its discovery of the relocation of a Financed Vehicle out of state, (ii) take or cause to be taken such steps as are necessary, in accordance with its customary servicing procedures consistent with the standard of care set forth in Section 2.19, to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle in the name of the Servicer and (iii) within one (1) Business Day of its receipt thereof, forward to the Trustee at its custodial address, on behalf of the Depositor, via reputable overnight courier, any certificate of title to a Financed Vehicle received by the Servicer with respect to a Receivable serviced hereunder, whether such certificate of title was not previously delivered to the Trustee in connection with the Closing Date or Funding Date, as the case may be, or for any other reason.
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Maintenance of Security Interests in Financed Vehicles and Receivables. (a) The Debtor hereby directs the Servicer to (i) take or cause to be taken such steps as are necessary, in accordance with the standard of care set forth in Section 2.18, to maintain perfection of the security interest created by any Receivable covering a Financed Vehicle which has been relocated in such a manner as to require such steps, and (ii) within two Business Days of its receipt thereof forward to the Collateral Agent, on behalf of the Debtor, via reputable overnight courier, any certificate of title to a Financed Vehicle received by the Servicer for any reason with respect to a Financed Vehicle relating to a Receivable serviced hereunder.
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Maintenance of Security Interests in Financed Vehicles and Receivables. (a) The Servicer will (i) take or cause to be taken such steps as are necessary, in accordance with the standard of care set forth in Section 2.19, to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle and (ii) within three (3) Business Days of its receipt thereof forward to the Custodian or its agent (unless the Servicer is the Custodian under the Indenture), on behalf of the Issuer, via reputable overnight courier, any Certificate of Title to a Financed Vehicle received by the Servicer with respect to a Receivable serviced hereunder, whether such Certificate of Title was not previously delivered to the Custodian or its agent in connection with the Closing Date or Funding Date, as the case may be, or for any other reason.
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Maintenance of Security Interests in Financed Vehicles and Receivables. (a) The Servicer shall retain all responsibility regarding obtaining and maintaining perfection of the security interest created by each Receivable in the related Financed Vehicles. Section 2.7
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Related to Maintenance of Security Interests in Financed Vehicles and Receivables

  • Maintenance of Security Interests in Financed Vehicles The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of a Financed Vehicle or for any other reason.

  • Maintenance of Security Interests in Financed Equipment The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Equipment. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of the Financed Equipment or for any other reason.

  • Maintenance of Security Interests in Vehicles (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Trust Collateral Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Servicer hereby agrees that the designation of AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the secured party on the Lien Certificate is in its capacity as Servicer as agent of the Trust.

  • Security Interest in Financed Vehicles Immediately prior to the transfer of the Receivables by the Depositor to the Trust, each Receivable was secured by a valid, binding and enforceable first priority perfected security interest in favor of the Seller in the related Financed Vehicle, or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in favor of the Seller in the Financed Vehicle, which security interest has been validly assigned by the Seller to the Depositor pursuant to the Receivables Purchase Agreement and by the Depositor to the Trust hereunder.

  • Perfection of Security Interests in the Collateral The Collateral Documents create valid security interests in, and Liens on, the Collateral purported to be covered thereby, which security interests and Liens are currently perfected security interests and Liens, prior to all other Liens other than Permitted Liens.

  • Security Interest in Financed Vehicle Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignment, each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party.

  • Security Interest in Financed Equipment Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of CNHICA as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of CNHICA as secured party.

  • Creation, Perfection and Priority of Security Interests The representations and warranties regarding creation, perfection and priority of security interests in the Purchased Property, which are attached to this Agreement as Appendix B, are true and correct to the extent that they are applicable.

  • Perfection and Protection of Security Interests and Liens Borrower will from time to time deliver, and will cause each other Restricted Person from time to time to deliver, to Agent any financing statements, continuation statements, extension agreements and other documents, properly completed and executed (and acknowledged when required) by Restricted Persons in form and substance satisfactory to Agent, which Agent requests for the purpose of perfecting, confirming, or protecting any Liens or other rights in Collateral securing any Obligations.

  • Perfection of Security Interests (a) Each Borrower and Guarantor irrevocably and unconditionally authorizes Agent (or its agent) to file at any time and from time to time such financing statements with respect to the Collateral naming Agent or its designee as the secured party and such Borrower or Guarantor as debtor, as Agent may require, and including any other information with respect to such Borrower or Guarantor or otherwise required by part 5 of Article 9 of the Uniform Commercial Code of such jurisdiction as Agent may determine, together with any amendment and continuations with respect thereto, which authorization shall apply to all financing statements filed on, prior to or after the date hereof. Each Borrower and Guarantor hereby ratifies and approves all financing statements naming Agent or its designee as secured party and such Borrower or Guarantor, as the case may be, as debtor with respect to the Collateral (and any amendments with respect to such financing statements) filed by or on behalf of Agent prior to the date hereof and ratifies and confirms the authorization of Agent to file such financing statements (and amendments, if any). Each Borrower and Guarantor hereby authorizes Agent to adopt on behalf of such Borrower and Guarantor any symbol required for authenticating any electronic filing. In the event that the description of the collateral in any financing statement naming Agent or its designee as the secured party and any Borrower or Guarantor as debtor includes assets and properties of such Borrower or Guarantor that do not at any time constitute Collateral, whether hereunder, under any of the other Financing Agreements or otherwise, the filing of such financing statement shall nonetheless be deemed authorized by such Borrower or Guarantor to the extent of the Collateral included in such description and it shall not render the financing statement ineffective as to any of the Collateral or otherwise affect the financing statement as it applies to any of the Collateral. In no event shall any Borrower or Guarantor at any time file, or permit or cause to be filed, any correction statement or termination statement with respect to any financing statement (or amendment or continuation with respect thereto) naming Agent or its designee as secured party and such Borrower or Guarantor as debtor.

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