Common use of Perfection of Liens and Security Interest Clause in Contracts

Perfection of Liens and Security Interest. On the Closing Date, the Lien and security interest in favor of the Trust Collateral Agent with respect to the Collateral will be perfected by the delivery of the Receivable Files to the Custodian, which Receivable Files the Custodian will hold on behalf of the Trust Collateral Agent, the filing of financing statements on Form UCC-1 in each jurisdiction where such recording or filing is necessary for the perfection of the security interest in favor of the Trustee and the establishment of the Collection Account, the Distribution Account, the Note Distribution Account, the Pre-Funding Period Reserve Account, the Pre-Funding Account and the Lockbox Account in accordance with the provisions of the Transaction Documents, and no other filings in any jurisdiction or any other actions (except as expressly provided herein) are necessary to perfect the Trustee Collateral Agent's first priority Lien on and security interest in the Collateral as against any third parties.

Perfection of Liens and Security Interest. On the Closing Date, the Lien and security interest in favor of the Trust Collateral Agent with respect to the Collateral will be perfected by the delivery of the Receivable Files to the Custodian, which Receivable Files the Custodian will hold on behalf of the Trust Collateral Agent, the filing of financing statements on Form UCC-1 in each jurisdiction where such recording or filing is necessary for the perfection of the such Lien and security interest in favor of the Trustee interest, and the establishment of the Collection Account, the Distribution Account, the Note Distribution Pre-Funding Account, the Pre-Funding Period Reserve Account, the Pre-Funding Distribution Account and the Lockbox Note Distribution Account in accordance with the provisions of the Transaction Documents, and no other filings in any jurisdiction or any other actions (except as expressly provided herein) are necessary to perfect the Trustee Trust Collateral Agent's first priority Lien on and security interest in the Collateral as against any third parties.

Perfection of Liens and Security Interest. On the Closing Date, the Lien and security interest in favor of (i) the Trust Collateral Agent with respect to the Collateral will be perfected by the delivery of the Receivable Files to the Custodian, which Receivable Files the Custodian will hold on behalf of the Trust Collateral Agent, the filing of financing statements on Form UCC-1 in each jurisdiction where such recording or filing is necessary for the perfection of the such Lien and security interest in favor of the Trustee interest, and the establishment of the Collection Account, the Distribution Account, the Note Distribution Pre-Funding Account, the Pre-Funding Period Reserve Account, the Pre-Funding Distribution Account, the Note Distribution Account and the Lockbox Account in accordance with the provisions of the Transaction Documents, and no other filings in any jurisdiction or any other actions (except as expressly provided herein) are necessary to perfect the Trustee Trust Collateral Agent's first priority Lien on and security interest in the Collateral as against any third parties.