Common use of Opinions as to Trust Estate Clause in Contracts

Opinions as to Trust Estate. (a) On the Closing Date, the Issuer shall furnish or cause to be furnished to the Indenture Trustee, an Opinion of Counsel to the effect that, in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to create and maintain the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such action, or (ii) no such action is necessary to create and maintain such lien and security interest. (b) On or before April 30th of each calendar year, beginning with April 30, 20[__], the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel to the effect that in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to continue the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action is necessary to continue such lien and security interest.

Appears in 3 contracts

Samples: Indenture (Financial Services Vehicle Trust), Indenture (Financial Services Vehicle Trust), Indenture (BMW Auto Leasing LLC)

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Opinions as to Trust Estate. (a) On the Closing Date, the Issuer shall furnish or cause to be furnished to the Indenture Trustee, an Opinion of Counsel to the effect that, in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to create and maintain the lien and security interest of the Indenture Trustee in the Trust Estate Collateral and reciting the details of such action, or (ii) no such action is necessary to create and maintain such lien and security interest. (b) On or before April 30th 30 of each calendar year, beginning with April 30, 20[__]2000, the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel to the effect that in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to continue the lien and security interest of the Indenture Trustee in the Trust Estate Collateral and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action is necessary to continue such lien and security interest.

Appears in 2 contracts

Samples: Indenture (Ryder Truck Rental I Lp), Indenture (Ryder Truck Rental I Lp)

Opinions as to Trust Estate. (a) On the Closing Date, the Issuer shall furnish or cause to be furnished to the Indenture Trustee, an Opinion of Counsel to the effect that, in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to create and maintain the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such action, or (ii) no such action is necessary to create and maintain such lien and security interest. (b) On or before April 30th of each calendar year, beginning with April 30, 20[__]2015, the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel to the effect that in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to continue the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action is necessary to continue such lien and security interest.

Appears in 2 contracts

Samples: Indenture (BMW Auto Leasing LLC), Indenture (BMW Auto Leasing LLC)

Opinions as to Trust Estate. (a) On the Closing Date, the Issuer shall furnish or cause to be furnished to the Indenture Trustee, an Opinion of Counsel to the effect that, in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to create and maintain the lien and security interest of the Indenture Trustee in the Trust Estate SUBI Certificates and reciting the details of such action, or (ii) no such action is necessary to create and maintain such lien and security interest. (b) On or before April 30th of each calendar year, beginning with April 30, 20[__]2001, the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel to the effect that in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to continue the lien and security interest of the Indenture Trustee in the Trust Estate SUBI Certificates and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action is necessary to continue such lien and security interest.

Appears in 1 contract

Samples: Indenture (BMW Vehicle Lease Trust 2000-A)

Opinions as to Trust Estate. (a) On the Closing Date, the Issuer shall furnish or cause to be furnished to the Indenture Trustee, an Opinion of Counsel to the effect that, in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to create and maintain the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such action, or (ii) no such action is necessary to create and maintain such lien and security interest. (b) On or before April 30th of each calendar year, beginning with April 30, 20[____], the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel to the effect that in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to continue the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action is necessary to continue such lien and security interest.

Appears in 1 contract

Samples: Indenture (BMW Auto Leasing LLC)

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Opinions as to Trust Estate. (a) On the Closing Date, the Issuer shall furnish or cause to be furnished to the Indenture Trustee, an Opinion of Counsel to the effect that, in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to create and maintain the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such action, or (ii) no such action is necessary to create and maintain such lien and security interest. (b) On or before April 30th of each calendar year, beginning with April 30, 20[__]2008, the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel to the effect that in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to continue the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action is necessary to continue such lien and security interest.

Appears in 1 contract

Samples: Indenture (BMW Auto Leasing LLC)

Opinions as to Trust Estate. (a) On the Closing Date, the Issuer shall furnish or cause to be furnished to the Indenture Trustee, an Opinion of Counsel to the effect that, in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to create and maintain the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such action, or (ii) no such action is necessary to create and maintain such lien and security interest. (b) On or before April 30th of each calendar year, beginning with April 30, 20[__], the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel to the effect that in the opinion of such counsel, either (i) all financing statements and continuation statements have been executed and filed that are necessary to continue the lien and security interest of the Indenture Trustee in the Trust Estate and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action is necessary to continue such lien and security interest.

Appears in 1 contract

Samples: Indenture Agreement (Financial Services Vehicle Trust)

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