Ownership and Security Interest. Upon completion of each contribution and transfer described in Sections 1.01(a), 1.01(b) and 1.02(a) and the grant of the security interest described in Section 1.02(b), (i) the Issuer will be the legal owner of the related Leases (including all Related Interests), (ii) the Seller will have good title to each item of related Equipment, and (iii) the Issuer will have a valid security interest in all of the Seller's right, title and interest in and to in each item of related Equipment.
Appears in 7 contracts
Samples: Assignment and Servicing Agreement (Ikon Receivables LLC), Assignment and Servicing Agreement (Ikon Receivables LLC), Assignment and Servicing Agreement (Ikon Receivables LLC)
Ownership and Security Interest. Upon completion of each contribution and transfer described in Sections 1.01(a), 1.01(b) and 1.02(a) and the grant of the security interest described in Section 1.02(b), (i) the Issuer will be the legal owner of the related Leases (including all Related Interests), (ii) the Seller will have good title to each item of related Equipment, and (iii) the Issuer will have a valid security interest in all of the Seller's right, title and interest in and to in each item of related Equipment.
Appears in 2 contracts
Samples: Assignment and Servicing Agreement (Ikon Receivables Funding LLC), Assignment and Servicing Agreement (Ikon Receivables Funding LLC)
