Other Daily Representations and Warranties. On each day on which any new Contract is purchased by the Transferor, the Transferor shall be deemed to represent and warrant to the Trust that (A) each Contract and the related Receivable purchased by the Transferor on such day has been conveyed to the Trust in compliance, in all material respects, with all Requirements of Law applicable to the Transferor and free and clear of any Lien of any Person claiming through or under the Transferor or any of its Affiliates (other than Permitted Liens) and (B) with respect to each such Contract, all consents, licenses, approvals or authorizations of or registrations or declarations with, any Governmental Authority required to be obtained, effected or given by the Transferor in connection with the conveyance of such Contract and the related Receivable to the Trust have been duly obtained, effected or given and are in full force and effect.
