Common use of of the Sale and Servicing Agreement Clause in Contracts

of the Sale and Servicing Agreement. The Servicer shall not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Trust Accounts unless the security interest Granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

Appears in 8 contracts

Samples: Indenture (Mmca Auto Receivables Trust), Indenture (Mmca Auto Receivables Trust), Indenture (Mmca Auto Receivables Trust)

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of the Sale and Servicing Agreement. The Servicer shall will not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Trust Accounts Reserve Account or the Yield Supplement Account unless the security interest Granted granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Issuer Servicer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

Appears in 1 contract

Samples: Indenture (Nissan Auto Receivables 2002 B Owner Trust)

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of the Sale and Servicing Agreement. The Servicer shall Issuer will not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Trust Accounts unless the security interest Granted granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

Appears in 1 contract

Samples: Indenture (Fidelity Leasing Inc)

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