Ownership and Transfer of 2016-B Exchange Note. Immediately preceding its sale of the 2016-B Exchange Note to the Purchaser, the Seller was the owner of the 2016-B Exchange Note, free and clear of any claim, and after such sale of the 2016-B Exchange Note to the Purchaser, the Purchaser shall be entitled to all of the rights and benefits of a holder of the 2016-B Exchange Note under the Basic Collateral Agency Agreement and the 2016-B Exchange Note Supplement.
Appears in 2 contracts
Samples: Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2016-B), Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2016-B)
Ownership and Transfer of 2016-B Exchange Note. Immediately preceding its sale of the 2016-B Exchange Note to the Purchaser, the Seller was the owner of the 2016-B Exchange Note, free and clear of any claimclaims, and after such sale of the 2016-B Exchange Note to the Purchaser, the Purchaser shall be entitled to all of the rights and benefits of a holder of the 2016-B Exchange Note under the Basic Collateral Agency Agreement and the 2016-B Exchange Note Supplement.
Appears in 2 contracts
Samples: First Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2016-B), First Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2016-B)
