Common use of No Material Obligation Clause in Contracts

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). EXHIBIT H [Reserved] [Reserved] EXHIBIT J Minimum Value Filing Exceptions With respect to the [ ] Financing Originators, no financing statements are filed against an Obligor located in a particular State describing Equipment which is the subject of a particular Contract of such [ ] Financing Originator, unless the fair market value of the Equipment (determined in accordance with Customary Policies and Procedures) related to such particular Contract is at least $[ ] (or, in the alternative, at least $[ ] if such Contract is a Lease with a "fair market value" purchase option). With respect to the [ ] Financing Originator, no financing statements are filed against an Obligor located in a particular State describing Equipment which is the subject of a particular Contract of such Financing Originator, unless the fair market value of the Equipment (determined in accordance with Customary Policies and Procedures) related to such particular Contract is at least $[ ].

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp), Pooling and Servicing Agreement (Gs Mortgage Securities Corp)

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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). EXHIBIT H [Reserved] [Reserved] EXHIBIT I EXHIBIT J Minimum Value Filing Exceptions With respect to the [ ] Financing Originators, no financing statements are filed against an Obligor located in a particular State describing Equipment which is the subject of a particular Contract of such [ ] Financing Originator, unless the fair market value of the Equipment (determined in accordance with Customary Policies and Procedures) related to such particular Contract is at least $[ ] (or, in the alternative, at least $[ ] if such Contract is a Lease with a "fair market value" purchase option). With respect to the [ ] Financing Originator, no financing statements are filed against an Obligor located in a particular State describing Equipment which is the subject of a particular Contract of such Financing Originator, unless the fair market value of the Equipment (determined in accordance with Customary Policies and Procedures) related to such particular Contract is at least $[ ].

Appears in 2 contracts

Samples: Transfer Agreement (Asset Backed Securities Corp), Transfer Agreement (Ace Securities Corp)

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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). EXHIBIT H [Reserved] EXHIBIT I [Reserved] EXHIBIT J Minimum Value Filing Exceptions With respect to the [ ] TCA Financing Originators, no financing statements are filed against an Obligor located in a particular State describing Equipment which is the subject of a particular Contract of such [ ] TCA Financing Originator, unless the fair market value of the Equipment (determined in accordance with Customary Policies and Procedures) related to such particular Contract is at least $[ ] 20,000 (or, in the alternative, at least $[ ] 50,000 if such Contract is a Lease with a "fair market value" purchase option). With respect to the [ ] CFUSA Financing Originator, no financing statements are filed against an Obligor located in a particular State describing Equipment which is the subject of a particular Contract of such Financing Originator, unless the fair market value of the Equipment (determined in accordance with Customary Policies and Procedures) related to such particular Contract is at least $[ ]25,000.

Appears in 1 contract

Samples: Transfer Agreement (NCT Funding Co LLC)

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