New Foreign Area Development Agreements. As of the applicable New Asset Addition Date with respect to any New Foreign Area Development Agreement acquired or entered into on such New Asset Addition Date:
New Foreign Area Development Agreements. As of the applicable New Asset Addition Date with respect to any New Foreign Area Development Agreement acquired or entered into on such New Asset Addition Date: (i) Such New Foreign Area Development Agreement does not contain terms and conditions that are reasonably expected to result in (A) a material decrease in the amount of Collections or Retained Collections, taken as a whole, (B) a material adverse change in the nature, quality or timing of Collections, taken as a whole, or (C) a material adverse change in the types of underlying assets generating Collections, taken as a whole, in each case when compared to the amount, nature or quality of, or types of assets generating Collections that would have been reasonably expected to result had such New Foreign Area Development Agreement been entered into in accordance with the then-current Franchise Documents; (ii) Such New Foreign Area Development Agreement is the legal, valid and binding obligation of the parties thereto, has been fully and properly executed by the Securitization Entities party thereto and is enforceable in accordance with its terms (except as such enforceability may be limited by bankruptcy or insolvency laws and by general principles of equity, regardless of whether such enforceability shall be considered in a proceeding in equity or at law), (iii) Such New Foreign Area Development Agreement complies in all material respects with all applicable Requirements of Law and, in the case of a New Foreign Area 42 143946769_2
