Common use of Protection of Title to Collateral Clause in Contracts

Protection of Title to Collateral. (a) The Administrator shall authorize or execute, as applicable, and file such financing statements or amendments to financing statements and cause to be authorized or executed, as applicable, and filed such continuation and other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Noteholders, the Certificateholders, the AART Indenture Trustee and the Issuing Entity under the Trust Sale Agreement and the Second Step Secured Notes Assignment in the Second Step Purchased Property and in the proceeds thereof. The Administrator shall deliver (or cause to be delivered) to the AART Indenture Trustee and the AART Owner Trustee file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing. (b) The Administrator shall at all times maintain each office from which it administers the Secured Notes and its principal executive office within the United States of America. (c) The Administrator shall maintain accounts and records as to the Secured Notes accurately and in sufficient detail to permit (i) the reader thereof to know at any time the status of the Secured Notes, including payments and recoveries made and payments owing (and the nature of each), and (ii) reconciliation between payments or recoveries on (or with respect to) each Secured Note and the amounts from time to time deposited in the AART Collection Account and Note Distribution Account.