Representations and Warranties of Funding. (a) On the Closing Date and each Addition Date, Funding represents and warrants to BANA as follows:
(i) Funding is a limited liability company duly formed and validly existing in good standing under the laws of the State of Delaware. Funding has full power and authority, in all material respects, to own its properties as currently owned, to conduct its business as currently conducted, and to execute, deliver, and perform its obligations under this Agreement.
(ii) In all material respects, in each jurisdiction in which the conduct of its business requires, Funding is duly qualified to do business, is in good standing, and has all necessary licenses and approvals.
(iii) Funding has duly authorized, by all necessary limited liability company action, its execution and delivery of this Agreement and any related Supplemental Conveyance and its consummation of the transactions contemplated by this Agreement and any related Supplemental Conveyance.
(iv) Funding’s execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance do not conflict with, breach any material term of, or cause a material default under (with or without notice or lapse of time or both) any indenture, contract, agreement, mortgage, deed of trust, or other instrument to which Funding is a party or by which Funding or any of its properties are bound.
(v) Funding’s execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance do not conflict with or violate any Requirement of Law applicable to Funding.
(vi) No proceeding or investigation against Funding is pending or, to the best of Funding’s knowledge, threatened before any Governmental Authority that (A) asserts that this Agreement or any related Supplemental Conveyance is invalid, (B) seeks to prevent the consummation of any transaction contemplated by this Agreement or any related Supplemental Conveyance, (C) seeks any determination or ruling that, in Funding’s reasonable judgment, would materially and adversely affect Funding’s performance under this Agreement or any related Supplemental Conveyance, or
Representations and Warranties of Funding. As of the Closing Date and each Addition Date, Funding hereby represents and warrants to, and agrees with, Capital One that:
Representations and Warranties of Funding. 9 13. Covenants........................................................11 14. Default..........................................................14 15.
Representations and Warranties of Funding. Funding hereby represents and warrants to the Trustee as of the Addition Date:
Representations and Warranties of Funding. Funding hereby represents and warrants to the Trustee as of the Removal Date:
Representations and Warranties of Funding. Funding hereby represents and warrants to the Bank and NextCard as follows:
Representations and Warranties of Funding. Funding hereby represents and warrants to MCC as of the date hereof, as of the Closing Date and as of each Transfer Date:
Representations and Warranties of Funding. 63 ARTICLE X Miscellaneous
Representations and Warranties of Funding. As of the Closing Date, Funding hereby represents and warrants to, and agrees with, the Bank that:
Representations and Warranties of Funding. 6 SECTION 3.02. Representations and Warranties of MCC.................... 7 ARTICLE IV CONDITIONS SECTION 4.01. Conditions to the Obligation of Funding.................. 13 SECTION 4.02. Conditions to Obligation of MCC with Respect to Initial Receivables.............................................. 14 SECTION 4.03. Conditions to Obligation of MCC With Respect to Subsequent Receivables................................... 14 SECTION 4.04. Subordination of Liens on Financed Equipment............. 15 ARTICLE V
