Common use of Preservation of Series Collateral Clause in Contracts

Preservation of Series Collateral. Subject to the rights, powers and authorities granted to the Trustee and the related Series Controlling Party specified in the Series Supplement, the Obligors shall take such action as is necessary and proper with respect to the Series Trust Estate in order to preserve and maintain such Series Trust Estate. The Obligors will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Servicer or the Trustee to perfect the security interests granted hereunder in the Series Trust Estate, to ensure that such security interests rank prior to all other Liens and to preserve the priority of such security interests and the validity and enforceability thereof. Upon the delivery of any portion of any Series Trust Estate to the Trustee, the Obligors shall be obligated to execute such documents and perform such actions as are necessary to create in the Trustee for the benefit of the related Series Secured Parties a valid first Lien on, and valid and perfected first priority security interest in, such Series Trust Estate so delivered, free and clear of any other Lien together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Servicer or Trustee or otherwise in connection with such delivery.

Preservation of Series Collateral. Subject to the rights, powers and authorities granted to the Trustee and the related Series Controlling Party specified in the Series Supplementherein, the Obligors shall take such action as is necessary and proper with respect to the Series Trust Estate in order to preserve and maintain such Series Trust Estate. The Obligors will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Servicer or the Trustee Series Controlling Party, to perfect the security interests granted hereunder in the Series Trust Estate, to ensure that such security interests rank prior to all other Liens and to preserve the priority of such security interests and the validity and enforceability thereof. Upon the any delivery of any portion of any Series Trust Estate Estate, to the Trustee, Trustee the Obligors shall be obligated to execute such documents and perform such actions as are necessary to create in the Trustee for the benefit of the related Series Secured Parties a valid first Lien on, and valid and perfected first priority security interest in, such Series Trust Estate so delivered, free and clear of any other Lien Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Servicer or Trustee Series Secured Parties or otherwise in connection with such delivery.

Preservation of Series Collateral. Subject to the rights, powers and authorities granted to the Trustee and the related Series Controlling Party specified herein and in the related Series Supplement, the related Series Obligors shall take all such action as is necessary and proper with respect to the related Series Trust Estate in order to preserve and maintain such Series Trust Estate. The Obligors will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Servicer or the Trustee Series Controlling Party, to perfect the security interests granted hereunder in the Series Trust Estate, to ensure that such security interests rank prior to all other Liens and to preserve the priority of such security interests and the validity and enforceability thereof. Upon the any delivery of any portion of any Series Trust Estate to the Trustee, the Obligors shall be obligated to execute such documents and perform such actions as are necessary to create in the Trustee for the benefit of the related Series Secured Parties a valid first Lien on, and valid and perfected first priority security interest in, such Series Trust Estate so delivered, free and clear of any other Lien Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Servicer or Trustee Series Secured Parties or otherwise in connection with such delivery.

Preservation of Series Collateral. Subject to the rights, powers and authorities granted to the Trustee and the related Series Controlling Party specified in the Series Supplement, the Obligors shall take such action as is necessary and proper with respect to the Series Trust Estate in order to preserve and maintain such Series Trust Estate. The Obligors will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Servicer or the Trustee to perfect the security interests granted hereunder in the Series Trust Estate, to ensure that such security interests rank prior to all other Liens and to preserve the priority of such security interests and the validity and enforceability thereof. Upon the delivery of any portion of any Series Trust Estate to the Trustee, the Obligors shall be obligated to execute such documents and perform such actions as are necessary to create in the Trustee for the benefit of the related Series Secured Parties a valid first Lien on, and valid and perfected first priority security interest in, such Series Trust Estate so delivered, free and clear of any other Lien together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Servicer or Trustee or otherwise in connection with such delivery; except that with respect to any interest in the Equipment the Obligors shall be obligated to perfect their interest therein with respect to any Series Trust Estate only to the extent provided in the related Series Supplement.