Common use of No Borrowing Clause in Contracts

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: (i) the Notes; and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account and to pay the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Fund, and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: (i) for the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the other Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Spread Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes and the Equity Certificate shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale Pooling and Servicing Agreement, to fund the Reserve Cash Collateral Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes and the Certificates shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; , (ii) obligations or Indebtedness owing from time to time to the Insurer under the Insurance Agreement and (iiiii) any other Indebtedness permitted by or arising under the other Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Spread Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; , (ii) the Swaps and (iiiii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes and the Trust Certificate shall be used exclusively to fund the Issuer’s purchase of the Loans and the other assets specified in the Sale Transfer and Servicing Agreement, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness indebtedness except for: (i) for the Notes; , the Hedge Agreements and (ii) any other Indebtedness indebtedness permitted by or arising under the Basic Transaction Documents. The proceeds from the initial sale of the Notes and the Trust Certificates shall be used exclusively to fund the Issuer’s purchase of the Loans and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes and the Equity Certificate shall be used exclusively to fund the Issuer’s purchase of the Loans Contracts and the other assets specified in the Sale Pooling and Servicing Agreement, to fund the Reserve Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes and the Equity Certificate shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale Pooling and Servicing Agreement, to fund the Reserve Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s 's purchase of the Loans and the other assets specified in the Sale and Servicing AgreementContract Assets, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the other Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Spread Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; , and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively solely to fund the Issuer’s 's purchase of the Loans Related Receivables and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Agreement and to pay the Issuer’s 's organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic Related Documents. The proceeds of the Notes and the Certificates shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Spread Account and to pay the Issuer’s 's organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness indebtedness except for: (i) for the Notes; , the Xxxxxx and (ii) any other Indebtedness indebtedness permitted by or arising under the Basic Transaction Documents. The proceeds from the initial sale of the Notes and the Trust Certificates shall be used exclusively to fund the Issuer’s 's purchase of the Loans and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans Receivables and the other assets specified in the Sale and Servicing Agreement, to fund (on behalf of the Reserve Seller) the Series 2011-A Spread Account and to pay the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes and the Certificates shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale Transfer and Servicing Agreement, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness indebtedness except for: (i) the Notes; and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of for the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans and the other assets specified Fixed Value Securities as provided in Section 2.04 of the Sale and Servicing Agreement, to fund the Reserve Account and to pay the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic Related Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s Depositor's purchase of the Loans Leases and the other assets specified in the Sale Contribution and Servicing Agreement, to fund the Reserve Account Agreement and to pay the Issuer’s 's organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans Underlying Trust Certificate and the other assets specified in the Sale and Servicing Underlying Trust Agreement, to fund the Reserve Account Fund, and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; , and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans Related Receivables and the other assets specified in the Sale and Servicing Agreement, to pay the costs of any Hedge Agreement, to fund the Reserve Account up to the Required Reserve Account Amount and to pay the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Note, and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes Note shall be used exclusively to fund the Issuer’s 's purchase of the Loans Related Receivables and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account up to the Required Reserve Account Amount and to pay the Issuer’s 's organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness indebtedness except for: (i) for the Notes; Notes and (ii) any other Indebtedness indebtedness permitted by or arising under the Basic Transaction Documents. The proceeds from the initial sale of the Notes and the Trust Certificates shall be used exclusively to fund the Issuer’s purchase of the Loans and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Note, and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively solely to fund the Issuer’s 's purchase of the Loans Related Receivables and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Agreement and to pay the Issuer’s 's organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; , and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans Receivables and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account and to pay the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Fund[, the Pre-Funding Account, and the Interest Reserve Account] and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Fund and the Yield Supplement Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Loans [Contracts][Underlying Trust Certificate] and the other assets specified in the [Sale and Servicing Agreement][Underlying Trust Agreement], to fund the Reserve Account Fund, and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; , and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively solely to fund the Issuer’s purchase of the Loans Receivables and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account Agreement and to pay the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: (i) for the Notes; , amounts payable under the Interest Rate Swap Agreement and (ii) any other Indebtedness permitted by or arising under the other Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Spread Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes and the Certificate shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Fund, the Pre-Funding Account and the Capitalized Interest Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, ------------ guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic Related Documents. The proceeds of the Notes and the Certificates shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Spread Account and to pay the Issuer’s 's organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic DocumentsRelated Documents or the Issuer's compliance therewith. The proceeds of the Notes shall be used exclusively to fund the Issuer’s 's purchase of the Loans Originator Receivables and the Transferor Certificate and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account and to pay the Issuer’s 's organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Note and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes Note shall be used exclusively to fund the Issuer’s 's purchase of the Loans Related Receivables and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account up to the Required Reserve Account Amount and to pay the Issuer’s 's organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the Basic other Transaction Documents. The proceeds of the Notes and the Certificates shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale Pooling and Servicing Agreement, to fund the Reserve Account Fund and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.

No Borrowing. The Issuer shall not issue, incur, assume, ------------ guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for: for (i) the Notes; Notes and (ii) any other Indebtedness permitted by or arising under the other Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s 's purchase of the Loans Contracts and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account and to pay the transactional expenses of the Issuer’s organizational, transactional and start-up expenses.