Common use of Representations, Warranties and Covenants of the Depositor Clause in Contracts

Representations, Warranties and Covenants of the Depositor. The Depositor hereby represents and warrants to the Owner Trustee that: (a) The Depositor is duly organized and validly existing as a limited liability company in good standing under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted. (b) The Depositor is duly qualified to do business as a foreign limited liability company in good standing and has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would reasonably be expected to materially and adversely affect the Depositor’s ability to own or lease its property or conduct its business. (c) The Depositor has the power and authority to execute and deliver this Agreement and to carry out its terms; the Depositor has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Trust and the Depositor has duly authorized such sale and assignment and deposit to the Trust by all necessary limited liability company action; and the execution, delivery and performance of this Agreement have been duly authorized by the Depositor by all necessary limited liability company action.

Appears in 12 contracts

Samples: Trust Agreement (Hyundai Auto Receivables Trust 2023-A), Trust Agreement (Hyundai Auto Receivables Trust 2023-A), Trust Agreement (Hyundai Auto Receivables Trust 2020-C)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!