Common use of Program Portfolios Clause in Contracts

Program Portfolios. Each Program Portfolio has the following characteristics: (i) Legal Owner of Program Receivables: [ ][See most recently delivered Annex A.] (ii) Pledgee of Program Receivables: [ ][See most recently delivered Annex A.] (iii) Type of Receivables: [Motor Vehicle Receivables] [Motor Vehicle Leases] [Describe other type of Assets] (iv) Agreement pursuant to which SC, as Servicer services the Program Receivables: [ ] [See most recently delivered Annex A.] (v) The Program Receivables [are] [are not] Regulation AB Receivables. [See most recently delivered Annex A.] (vi) Program Portfolio Transaction Documents: Agreement described in clause (iv) above and [ ].