Common use of Payment of Obligations; Compliance with Obligations Clause in Contracts

Payment of Obligations; Compliance with Obligations. Pay, --------------------------------------------------- discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature (including, without limitation, all taxes, assessments, levies and other governmental charges imposed on it), except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Company. The Company shall defend the security interest of the Trustee and the Holders in, to and under the Receivables and the other Participation Assets, whether now existing or hereafter created, against all claims of third parties claiming through or under the Company an Originator or the Master Servicer. The Company will duly fulfill all obligations on its part to be fulfilled under or in connection with each Receivable and will do nothing to impair the rights of the Holders in such Receivable.

Payment of Obligations; Compliance with Obligations. Pay, --------------------------------------------------- discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature (including, without limitation, all taxes, assessments, levies and other governmental charges imposed on it), except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Company. The Company shall defend the security right, title and interest of the Trustee and the Holders in, to and under the Receivables Purchased Loans and the other Participation Trust Assets, whether now existing or hereafter created, against all claims of third parties claiming through or under the Company an Originator Company, the Sellers or the Master Servicer. The Company will duly fulfill all material obligations on its part to be fulfilled under or in connection with each Receivable Purchased Loan and will do nothing to impair the rights of the Holders in such ReceivablePurchased Loan.

Payment of Obligations; Compliance with Obligations. Pay, --------------------------------------------------- discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature (including, without limitation, all taxes, assessments, levies and other governmental charges imposed on it), except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Company. The Company shall defend the security right, title and interest of the Trustee and the Holders in, to and under the Receivables and the other Participation Trust Assets, whether now existing or hereafter created, against all claims of third parties claiming through or under the Company an Originator Company, any Seller, any Sub-Servicer or the Master Servicer. The Company will duly fulfill all material obligations on its part to be fulfilled under or in connection with each Receivable and will do nothing to impair the rights of the Holders in such Receivable.