Representations and Warranties of the Seller Relating to the Agreement and the Collateral. The Seller hereby represents and warrants, as of the Closing Date and as of each Addition Date:
Representations and Warranties of the Seller Relating to the Agreement and the Collateral. The Seller makes the following representations and warranties, on which each of the Intermediate Seller and the Buyer relies in acquiring each Collateral Obligation purchased hereunder and each of the Secured Parties relies upon in entering into the Indenture or purchasing the Notes. As of the Closing Date and each Purchase Date, the Seller represents and warrants to the Intermediate Seller and the Buyer, as applicable, for the benefit of the Intermediate Seller and the Buyer and each of their successors and assigns that:
Representations and Warranties of the Seller Relating to the Agreement and the Collateral. The Seller hereby represents and warrants, (i) with respect to clauses (a) through (c) below, as of the Closing Date, as of the initial Funding Date, as of the Restatement Date, as of the Second Amendment and Restatement Effective Date, as of the Third Amendment and Restatement Effective Date and as of each Addition Date and (ii) with respect to clause (d) below, since December 31, 2008 and as of the most recent Addition Date:
Representations and Warranties of the Seller Relating to the Agreement and the Collateral. The Seller hereby represents and warrants, as of the Closing Date and as of each Addition Date:
(a) Binding Obligation, Valid Transfer and Security Interest.
(i) This Agreement and each other Transaction Document to which the Seller is a party each constitute a legal, valid and binding obligation of the Seller, enforceable against the Seller in accordance with its respective terms, except as such enforceability may be limited by Insolvency Laws and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity).
(ii) This Agreement constitutes a valid transfer to the Administrative Agent, as agent for the Secured Parties, of all right, title and interest of the Seller in, to and under all of the Collateral, free and clear of any Lien of any Person claiming through or under the Seller or its Affiliates, except for Permitted Liens. If the conveyances contemplated by this Agreement are determined to be transfer for security, then this Agreement constitutes a grant of a security interest in all of the Collateral to the Administrative Agent, as agent for the Secured Parties, which upon the delivery of the Required Asset Documents to the Collateral Custodian and the filing of the financing statements described in Section 4.1(m) and, in the case of Additional Assets on the applicable Addition Date, shall be a first priority perfected security interest in all Collateral, subject only to Permitted Liens. Neither the Seller nor any Person claiming through or under Seller shall have any claim to or interest in the Collection Account and, if this Agreement constitutes the grant of a security interest in such property, except for the interest of Seller in such property as a debtor for purposes of the UCC.
Representations and Warranties of the Seller Relating to the Agreement and the Collateral. The Seller hereby represents and warrants, as of the Closing Date and as of each Addition Date:
(a) Binding Obligation, Valid Security Interest.
(i) This Agreement and each other Transaction Document to which the Seller is a party each constitute a legal, valid and binding obligation of the Seller, enforceable against the Seller in accordance with its respective terms, except as such enforceability may be limited by Insolvency Laws and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity).
(ii) This Agreement constitutes a grant of a security interest in all of the Collateral to the Administrative Agent, as agent for the Secured Parties, which upon the delivery of the Required Asset Documents to the Collateral Custodian and the filing of the financing statements described in Section 4.1(m) and, in the case of Additional Assets on the applicable Addition Date, shall be a first priority perfected security interest in all Collateral, subject only to Permitted Liens. Neither the Seller nor any Person claiming through or under Seller shall have any claim to or interest in the Collection Account except for the interest of Seller in such property as a debtor for purposes of the UCC.
Representations and Warranties of the Seller Relating to the Agreement and the Collateral. The Seller makes the following representations and warranties, on which each of the Intermediate Seller and the Buyer relies in acquiring each Collateral Obligation purchased hereunder and each of the Secured Parties relies upon in entering into the Indenture, purchasing the Notes or extending the Class A-1 Loans, as applicable. As of the Closing Date and each Purchase Date, the Seller represents and warrants to the Intermediate Seller and the Buyer, as applicable, for the benefit of the Intermediate Seller and the Buyer and each of their successors and assigns that:
