Power, Authority and Enforceability. The Sponsor has the power and authority to execute, deliver and perform its obligations under this Agreement. The Sponsor has authorized the execution, delivery and performance of this Agreement. This Agreement is the legal, valid and binding obligation of the Sponsor, enforceable against the Sponsor, except as may be limited by insolvency, bankruptcy, reorganization or other similar laws relating to the enforcement of creditors’ rights or by general equitable principles.
Appears in 55 contracts
Samples: Receivables Purchase Agreement (Ford Credit Auto Owner Trust 2022-A), Receivables Purchase Agreement (Ford Credit Auto Owner Trust 2022-A), Exchange Note Purchase Agreement (Ford Credit Auto Lease Trust 2021-B)
Power, Authority and Enforceability. The Sponsor has the power and authority to execute, deliver and perform its obligations under this Agreement. The Sponsor has authorized the execution, delivery and performance of this Agreement. This Agreement is the legal, valid and binding obligation of the Sponsor, enforceable against the Sponsor, except as may be limited by insolvency, bankruptcy, reorganization or other similar laws relating to the enforcement of creditors’ ' rights or by general equitable principles.
Appears in 30 contracts
Samples: Receivables Purchase Agreement (Ford Credit Auto Owner Trust 2024-D), Receivables Purchase Agreement (Ford Credit Auto Receivables Two LLC), Receivables Purchase Agreement (Ford Credit Auto Owner Trust 2024-C)
Power, Authority and Enforceability. The Sponsor has the power and authority to execute, deliver and perform its obligations under this Agreement. The Sponsor has authorized the execution, delivery and performance of this Agreement. This Agreement is the legal, valid and binding obligation of the Sponsor, enforceable against the Sponsor, except as may be limited by insolvency, bankruptcy, reorganization or other similar laws relating to the enforcement of creditors’ rights or by general equitable principles.
Appears in 10 contracts
Samples: Exchange Note Purchase Agreement (CAB East LLC), Exchange Note Purchase Agreement (CAB East LLC), Receivables Purchase Agreement (Ford Credit Auto Owner Trust 2016-A)
