Common use of Perfection and Related Security Clause in Contracts

Perfection and Related Security. Such Borrower will cause (and will cause each Originator to cause), within ten (10) days after the Closing Date, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect the sale of the Receivables and Related Security from such Originator to such Borrower pursuant to the applicable Sale Agreement, and the security interest therein from such Borrower to the Administrator under this Agreement, to the extent that such collateral constitutes “accounts”, “general intangibles” or “tangible chattel paper” (or, in the case of any Pool Assets purchased by or contributed to the Canadian Borrower pursuant to the Canadian Sale Agreement, “accounts”, “intangibles” or “chattel paper” within the meaning of the PPSA).

Perfection and Related Security. Such Borrower will cause (and will cause each Originator to cause), within ten (10) days after the Closing Date, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect the sale of the Receivables and Related Security from such Originator to such Borrower pursuant to the applicable CBTS Sale Agreement, and the security interest therein from such Borrower to the Administrator under this Agreement, to the extent that such collateral constitutes “accounts”, “general intangibles” or “tangible chattel paper” (or, in the case of any Pool Assets purchased by or contributed to the Canadian Borrower pursuant to the CBTS Canadian Sale Agreement, “accounts”, “intangibles” or “chattel paper” within the meaning of the PPSA).