Common use of Representations, Warranties and Covenants of Servicer Clause in Contracts

Representations, Warranties and Covenants of Servicer. FNBO, as initial Servicer, hereby makes, and any successor Servicer by its appointment hereunder shall make (with such changes as shall be applicable to such Successor Servicer), on each Closing Date (and on the date of any such appointment) the following representations and warranties and covenants to Issuer on which Owner Trustee has relied in executing the Notes and Indenture Trustee has relied in authenticating Notes: (a) ORGANIZATION AND GOOD STANDING. Servicer is a national banking association (or with respect to such Successor Servicer, such other corporate entity as may be applicable) duly organized, validly existing and in good standing under the laws of the United States, and has full corporate power, authority and legal right to own its properties and conduct its business as such properties are presently owned and as such business is presently conducted, and to execute, deliver and perform its obligations under this Agreement and the other Transaction Documents to which it is a party.

Representations, Warranties and Covenants of Servicer. FNBOWFN, as initial Servicer, hereby makes, and any successor Servicer by its appointment hereunder shall make (with such changes as shall be applicable to such Successor Servicer)make, on each Closing Date (and on the date of any such appointment) the following representations and warranties and covenants to Issuer on which Owner Trustee has relied in accepting the Receivables in trust, Owner Trustee has relied in executing the Notes and Indenture Trustee has relied in authenticating Notes: (a) ORGANIZATION AND GOOD STANDING. Servicer is a national banking association (or with respect to such Successor Servicer, such other corporate entity as may be applicable) duly organized, validly existing and in good standing under the laws of the United States, and has full corporate power, authority and legal right to execute, deliver and perform its obligations under this Agreement and, in all material respects, to own its properties and conduct its business as such properties are presently owned and as such business is presently conducted, and to execute, deliver and perform its obligations under this Agreement and the other Transaction Documents to which it is a party.