Common use of Representations and Warranties of the Depositor regarding the Receivables Clause in Contracts

Representations and Warranties of the Depositor regarding the Receivables. The Depositor makes the following representations and warranties with respect to the Receivables, on which the Issuer relies in purchasing the Receivables and pledging the same to the Indenture Trustee. Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Transfer Date, but shall survive the sale, transfer and assignment of the Receivables by the Depositor to the Issuer and the pledge of the Receivables by the Issuer to the Indenture Trustee pursuant to the Indenture. (i) Schedule of Receivables. The information set forth in Schedule A to this Agreement with respect to each Receivable is true and correct in all material respects, and no selection procedures adverse to the Securityholders have been used in selecting the Receivables from all receivables owned by the Seller which meet the selection criteria specified herein.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (USAA Auto Owner Trust 2006-4), Sale and Servicing Agreement (USAA Auto Owner Trust 2006-2), Sale and Servicing Agreement (Usaa Auto Owner Trust 2005-3)

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Representations and Warranties of the Depositor regarding the Receivables. The Depositor makes the following representations and warranties with respect to the Receivables, on which the Issuer relies in purchasing the Receivables and pledging the same to the Indenture Trustee. Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Transfer Date, but shall survive the sale, transfer and assignment of the Receivables by the Depositor to the Issuer and the pledge of the Receivables by the Issuer to the Indenture Trustee pursuant to the Indenture. (i) Schedule of Receivables. The information set forth in Schedule A to this Agreement with respect to each Receivable is true and correct in all material respects, and no No selection procedures adverse to the Securityholders have been used in selecting the Receivables from all receivables owned by the Seller Depositor which meet the selection criteria specified herein.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Fund Inc Whole Auto Loan Tr 2002-1), Sale and Servicing Agreement (Bear Stearns Asset Backed Funding Inc), Sale and Servicing Agreement (Merrill Auto Trust Securitization 2007-1)

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