Common use of Perfection of Ownership Interest Clause in Contracts

Perfection of Ownership Interest. The Seller owns the Receivables free of any Adverse Claim other than the interests of the Purchasers (through the Agent) therein that are created hereby, and each Purchaser shall at all times have a valid undivided ownership interest, which shall be a first priority perfected security interest for purposes of Article 9 of the applicable Uniform Commercial Code, in the Receivables and Collections, subject to the Permitted Exceptions.

Perfection of Ownership Interest. The Seller owns the Receivables free of any Adverse Claim other than the interests of the Agent, the Purchaser Agent and the Purchasers (through the Agent) therein that are created hereby, and each Purchaser shall at all times have a valid undivided percentage ownership interest, which shall be a first priority perfected security interest for purposes of Article 9 of the applicable Uniform Commercial Code, in the Receivables Receivables, the Related Security and Collections, subject Collections to the Permitted Exceptionsextent of its Purchase Interest then in effect.

Perfection of Ownership Interest. The Seller owns the Receivables free of any Adverse Claim other than the interests of the Purchasers (through the Agent) therein that are created hereby, and each Purchaser shall at all times have a valid undivided percentage ownership interest, which shall be a first priority perfected security interest for purposes of Article 9 of the applicable Uniform Commercial Code, in the Receivables and Collections, subject to the Permitted Exceptions.

Perfection of Ownership Interest. The Seller owns the Receivables free of any Adverse Claim other than the interests of the Purchasers (through the Agent) therein that are created hereby, and each Purchaser shall at all times have a valid undivided percentage ownership interest to the extent of its Purchase Interest or a security interest, which shall be a first priority perfected security interest for purposes of Article 9 of the applicable Uniform Commercial Codeinterest, in the Receivables and Collections, subject to the Permitted Exceptions.

Perfection of Ownership Interest. The Seller owns the Receivables free of any Adverse Claim other than the interests of the Agent and the Purchasers (through the Agent) therein that are created hereby, and each Purchaser shall at all times have a valid undivided percentage ownership interest, which shall be a first priority perfected security interest for purposes of Article 9 of the applicable Uniform Commercial Code, in the Receivables and Collections, subject Collections to the Permitted Exceptionsextent of its Purchase Interest then in effect.