No Material Obligation. No Financing Originator has a material performance obligation in respect of any Contract in favor of an Obligor or End-User (it being understood that covenants of quiet enjoyment, purchase options, obligations to accept return of the property at end of lease term, and like obligations of a lessor typical of a "triple net" lease, shall not be deemed "material performance obligations" for purposes of this representation).
Appears in 23 contracts
Samples: Pooling and Servicing Agreement (Ace Securities Corp), Pooling and Servicing Agreement (CIT Equipment Collateral 2005-Vt1), Pooling and Servicing Agreement (NCT Funding Co LLC)
No Material Obligation. No Financing Originator has a material performance obligation in respect of any Contract in favor of an Obligor or End-User (it being understood that covenants of quiet enjoyment, purchase options, obligations to accept return of the property at end of lease term, and like obligations of a lessor typical of a "“triple net" ” lease, shall not be deemed "“material performance obligations" ” for purposes of this representation).
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Cit Equipment Collateral 2006-Vt2), Pooling and Servicing Agreement (CIT Equipment Collateral 2008-Vt1), Pooling and Servicing Agreement (Cit Funding Co, LLC)
