Common use of Security for Notes Clause in Contracts

Security for Notes. (a) The Servicer shall at its own expense, in consideration of the Servicer Fee, cause to be filed the financing statements and assignments described in Sections 4.01(a)(v) and 4.02(b) in accordance with such Sections. In addition, from time to time, the Servicer shall take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary security interest against the Transferor, as applicable, in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interests in and liens on the Collateral against all other Persons, including the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title; provided that, none of the Servicer, the Transferor nor the Issuer shall be required to file UCC-1 financing statements against Obligors with respect to a Contract related to Equipment that had an original equipment cost at origination of less than (A) if such Contract is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments of any UCC-1 financing statements or other lien recordings or notations made against any Obligor. Notwithstanding anything to the contrary contained herein, if the Servicer is not LEAF Financial Corporation or one of its Affiliates, the successor Servicer shall not be responsible for the initial filings of any UCC financing statements, or any continuation statements filed by any predecessor Servicer, or the information contained therein (including the exhibits thereto), the perfection of any such security interests during the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as Servicer. (b) If any change in the Servicer’s or the Issuer’s name, identity, structure or the location of its principal place of business, chief executive office or State of organization occurs, then such party shall deliver thirty (30) days’ prior written notice of such change or relocation to the Servicer, the Trustee, the Back-up Servicer and the Rating Agency, and, no later than the effective date of such change or relocation, the Servicer shall file or cause to be filed such amendments or statements as may be required to preserve and protect the Issuer’s precautionary security interest against the Transferor in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interest in and liens on the Collateral. (c) During the term of this Indenture, the Issuer will maintain its sole state of organization in the State of Delaware, and the Servicer will maintain its sole state of incorporation in a State of the United States.

Security for Notes. (a) The Servicer Issuer and the Company shall at its own expense, in consideration of the Servicer Fee, cause to be filed the file UCC-I financing statements and assignments described in Sections 4.01(a)(v4.01 (f) and 4.02(b4.02(b)(vi) hereof in accordance with such Sections. In addition, from as soon as practicable but no later than 30 days after the Initial Delivery Date and any subsequent Delivery Date, as the case may be, (i) the Issuer shall file with respect to all Lease Contracts other than Loan Contracts, UCC- I financing statements with the Secretaries of State (and with the relevant county, if required by the applicable state law) of the Enumerated States, executed by the Issuer, as debtor, and naming the Indenture Trustee for the benefit of the Noteholders and MBIA as secured party and the Equipment located in such States as collateral; provided that no filings naming an individual Customer as debtor shall be required; and (ii), with respect to any titled Equipment underlying a Lease Contract, the Issuer and the Company shall provide evidence to the Indenture Trustee acceptable to MBIA that applications have been filed to retitle or originate title in such Equipment, as applicable, in the name of the Issuer and naming the Indenture Trustee as secured party, and immediately upon receipt, the Issuer shall deliver or cause to be delivered to the Indenture Trustee, certificates of title naming the Issuer as title owner and the Indenture Trustee as secured party. From time to time, the Servicer shall take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary security interest against Indenture Trustee's and MBIA's respective interests in the Transferor, as applicable, in respect of the Contract Assets Lease Contracts and the assignment to Equipment owned by the Trustee thereof, Issuer and initially located in the Trustee’s security interests in and liens on the Collateral Enumerated States against all other Persons, including including, without limitation, the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title; provided that, none of the Servicer, the Transferor nor the Issuer shall be required to file UCC-1 financing statements against Obligors with respect to a Contract related to Equipment that had an original equipment cost at origination of less than (A) if such Contract is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments of any UCC-1 financing statements or other lien recordings or notations made against any Obligor. Notwithstanding anything to the contrary contained herein, if the Servicer is not LEAF Financial Corporation or one of its Affiliates, the successor Servicer shall not be responsible for the initial filings of any UCC financing statements, or any continuation statements filed by any predecessor Servicer, or the information contained therein (including the exhibits thereto), the perfection of any such security interests during the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as Servicer. (b) If any change in either the Servicer’s Company's or the Issuer’s 's name, identity, structure or the location of its principal place of business, business or chief executive office or State of organization occurs, then such party the Issuer shall, or the Issuer shall cause the Company, to deliver thirty (30) days’ 30 days prior written notice of such change or relocation to the Servicer, the Trustee, the Back-up Servicer MBIA and the Rating Agency, and, Indenture Trustee and no later than the effective date of such change or relocation, the Servicer shall file or cause to be filed such amendments or statements as may be required to preserve and protect the Issuer’s precautionary security interest against Indenture Trustee's and MBIA's respective interests in the Transferor in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interest in and liens on the CollateralTrust Estate. (c) During the term of this the Indenture, the Issuer will maintain its sole state chief executive office and principal place of organization business in one of the State of Delaware, and the Servicer will maintain its sole state of incorporation in a State States of the United States. (d) The Servicer agrees to pay all reasonable costs and disbursements in connection with the perfection and the maintenance of perfection, as against all third parties, of the Indenture Trustee's and MBIA's respective right, title and interest in and to the Trust Estate (other than the Equipment not initially located in the Enumerated States). (e) The Indenture Trustee may, if requested by the Servicer for purposes of servicing a Lease Contract, temporarily release to the Servicer such Lease Contract. Any Lease Contract temporarily released from the custody of the Indenture Trustee to the Servicer or its agents shall have stamped on it prior to delivery a legend to the effect that the Lease Contract is the property of the Issuer and has been pledged to Norwest Bank Minnesota, National Association, as Indenture Trustee. The Servicer shall promptly return the Lease Contract to the Indenture Trustee when the need therefor no longer exists.

Security for Notes. (a) The Servicer Issuer and the Company shall at its own expense, in consideration of the Servicer Fee, cause to be filed the file UCC-1 financing statements and assignments described in Sections 4.01(a)(vSection 4.01(f) and 4.02(b(g) in accordance with such Sectionshereof. In addition, from From time to time, the Servicer shall shall, in accordance with the Servicing Agreement, take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary Indenture Trustee's and MBIA's respective interests in the Loan Contracts and the security interest against in the Transferor, as applicable, in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interests in and liens on the Collateral related Vehicles against all other Persons, including including, without limitation, the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title; provided that. If the original Certificate of Title is not available on the Closing Date, none the Company shall deliver the Application for Certificate of Title to the Custodian on behalf of the ServicerIndenture Trustee on the Closing Date; provided, however, that the Transferor nor the Issuer Company shall be required to file UCC-1 financing statements against Obligors with respect to a Contract related to Equipment that had an original equipment cost at origination of less than (A) if such Contract is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments of any UCC-1 financing statements or other lien recordings or notations made against any Obligor. Notwithstanding anything deliver to the contrary contained herein, if Custodian on behalf of the Servicer is not LEAF Financial Corporation or one Indenture Trustee the original Certificate of its Affiliates, Title relating to each Vehicle within 120 days of the successor Servicer shall not be responsible delivery of the Application for the initial filings Certificate of any UCC financing statements, or any continuation statements filed by any predecessor Servicer, or the information contained therein (including the exhibits thereto), the perfection of any such security interests during the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as ServicerTitle. (b) If any change in either the Servicer’s Company's or the Issuer’s 's name, identity, structure or the location of its principal place of business, business or chief executive office or State of organization occurs, then such party the Issuer shall, or the Issuer shall cause the Company, to deliver thirty (30) 30 days’ ' prior written notice of such change or relocation to the Servicer, the Trustee, the Back-up Servicer MBIA and the Rating Agency, and, Indenture Trustee and no later than the effective date of such change or relocation, the Servicer shall file or cause to be filed such amendments or statements as may be required to preserve and protect the Issuer’s precautionary security interest against Indenture Trustee's and MBIA's respective interests in the Transferor Trust Estate in respect of accordance with the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interest in and liens on the CollateralServicing Agreement. (c) During the term of this Indenture, the Issuer will maintain its sole state chief executive office and principal place of organization business in one of the State of Delaware, and the Servicer will maintain its sole state of incorporation in a State States of the United States. (d) The Servicer agrees to pay all reasonable costs and disbursements in connection with the perfection and the maintenance of perfection, as against all third parties, of the Indenture Trustee's and MBIA's respective right, title and interest in and to the Trust Estate. (e) So long as an MBIA Default shall not have occurred and be continuing, upon the occurrence of a Re-Xxxxxxx Trigger, MBIA may instruct the Indenture Trustee, the Issuer and the Servicer to take or cause to be taken such action as may, in the opinion of counsel to MBIA, be necessary or desirable to perfect or reperfect the security interests in the Vehicles securing the Trust Estate in the name of the Indenture Trustee by amending the title documents of such Vehicles or by such other reasonable means as may, in the opinion of counsel to the MBIA, be necessary or prudent. The Issuer hereby grants to the Indenture Trustee a power of attorney to effect such re-perfection. The Issuer hereby agrees to pay all expenses related to such perfection or re-perfection (and to reimburse the Indenture Trustee for all costs and expenses related therewith) and to take all action necessary therefor.

Security for Notes. (a) The Servicer shall at its own expense, in consideration of the Servicer Fee, cause to be filed the financing statements and assignments described in Sections 4.01(a)(v) and 4.02(b) in accordance with such Sections. In addition, from time to time, the Servicer shall take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary security interest against the Transferor, as applicable, Originator in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interests in and liens on the Collateral against all other Persons, including the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title; provided that, none of the Servicer, the Transferor Originator nor the Issuer shall be required to file UCC-1 financing statements against Obligors with respect to a Contract related to Equipment that had an original equipment cost at origination of less than (A) if such Contract is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments of any UCC-1 financing statements or other lien recordings or notations made against any Obligor. Notwithstanding anything to the contrary contained herein, if the Servicer is not LEAF Financial Corporation or one of its Affiliates, the successor Servicer shall not be responsible for the initial filings of any UCC financing statements, or any continuation statements filed by any predecessor Servicer, or the information contained therein (including the exhibits thereto), the perfection of any such security interests during the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as Servicer. (b) If any change in the Servicer’s or the Issuer’s name, identity, structure or the location of its principal place of business, chief executive office or State of organization occurs, then such party shall deliver thirty (30) days’ prior written notice of such change or relocation to the Servicer, the Trustee, Trustee and the Back-up Servicer and the Rating AgencyServicer, and, no later than the effective date of such change or relocation, the Servicer shall file or cause to be filed such amendments or statements as may be required to preserve and protect the Issuer’s precautionary security interest against the Transferor Originator in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interest in and liens on the Collateral. (c) During the term of this Indenture, the Issuer will maintain its sole state of organization in the State of Delaware, and the Servicer will maintain its sole state of incorporation in a State of the United States.

Security for Notes. (a) The Servicer shall at its own expense, in consideration of the Servicer Fee, cause to be filed the financing statements and assignments described in Sections 4.01(a)(v) and 4.02(b) in accordance with such Sections. In addition, from time to time, the Servicer shall take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary security interest against the Transferor, as applicable, Originator in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interests in and liens on the Collateral against all other Persons, including the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title; provided that, none of the Servicer, the Transferor Originator nor the Issuer shall be required to file UCC-1 financing statements against Obligors with respect to a Contract related to Equipment that had an original equipment cost at origination of less than (A) if such Contract is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments of any UCC-1 financing statements or other lien recordings or notations made against any Obligor. Notwithstanding anything to the contrary contained herein, if the Servicer is not LEAF Financial Corporation Commercial Capital or one of its Affiliates, the successor Servicer shall not be responsible for the initial filings of any UCC financing statements, or any continuation statements filed by any predecessor Servicer, or the information contained therein (including the exhibits thereto), the perfection of any such security interests during the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as Servicer. (b) If any change in the Servicer’s or the Issuer’s name, identity, structure or the location of its principal place of business, chief executive office or State of organization occurs, then such party shall deliver thirty (30) days’ prior written notice of such change or relocation to the Servicer, the Trustee, Trustee and the Back-up Servicer and the Rating AgencyServicer, and, no later than the effective date of such change or relocation, the Servicer shall file or cause to be filed such amendments or statements as may be required to preserve and protect the Issuer’s precautionary security interest against the Transferor Originator in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interest in and liens on the Collateral. (c) During the term of this Indenture, the Issuer will maintain its sole state of organization in the State of Delaware, and the Servicer will maintain its sole state of incorporation in a State of the United States.

Security for Notes. (a) The Servicer shall at its own expense, in consideration of the Servicer Fee, cause to be filed the financing statements and assignments described in Sections 4.01(a)(v) and 4.02(b) in accordance with such Sections. In addition, from time to time, the Servicer shall take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary security interest against the Transferor, as applicable, Originator in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interests in and liens on the Collateral against all other Persons, including the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title; provided that, none of the Servicer, the Transferor nor and/or the Issuer shall be required to file UCC-1 financing statements against Obligors with respect to a Contract related to Equipment that had an original equipment cost at origination of less than (A) if such Contract is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments of any UCC-1 UCC‑1 financing statements or other lien recordings or notations made against any Obligor. If a Contract relates to titled Equipment, (A) the Obligor is noted as owner and the Transferor (or its nominee) is noted as lienholder on the related certificate of title, (B) the Issuer is either noted as owner or the Transferor has submitted to the applicable titling authority the necessary application for noting the Issuer as the owner and no person (other than the Trustee) is noted as lienholder on the related certificate of title or (C) the title is held under a Permitted Titling Agency Arrangement. Notwithstanding anything to the contrary contained herein, if the Servicer is not LEAF Financial Corporation or one of its AffiliatesNewStar Equipment Finance I, LLC, the successor Servicer shall not be responsible for the initial filings of any UCC financing statements, or any continuation statements filed by any predecessor Servicer, or the information contained therein (including the exhibits thereto), the perfection of any such security interests during the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as Servicer. (b) If any change in the Servicer’s or the Issuer’s name, identity, structure or the location of its principal place of business, chief executive office or State of organization occurs, then such party shall deliver thirty (30) days’ prior written notice of such change or relocation to the Servicer, the Trustee, the Back-up Back‑up Servicer and the Rating Agency, and, no later than the effective date of such change or relocation, the Servicer shall file or cause to be filed such amendments or statements as may be required to preserve and protect the Issuer’s precautionary security interest against the Transferor Originator in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interest in and liens on the Collateral. (c) During the term of this Indenture, the Issuer will maintain its sole state of organization in the State of Delaware, and the Servicer will maintain its sole state of incorporation organization in a State of the United States.

Security for Notes. (a) The Servicer shall at its own expense, in consideration of the Servicer Fee, cause to be filed the financing statements and assignments described in Sections 4.01(a)(v) and 4.02(b) in accordance with such Sections. In addition, from time to time, the Servicer shall take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary security interest against the Transferor, as applicable, Seller in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interests in and liens on the Collateral against all other Persons, including the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title; provided that, none of the Servicer, the Transferor Seller nor the Issuer shall be required to file UCC-1 financing statements against Obligors with respect to a Contract related to Equipment that had an original equipment cost at origination of less than (A) if such Contract is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments of any UCC-1 financing statements or other lien recordings or notations made against any Obligor. Notwithstanding anything to the contrary contained herein, if the Servicer is not LEAF Financial Corporation Commercial Capital or one of its Affiliates, the successor Servicer shall not be responsible for the initial filings of any UCC financing statements, or any continuation statements filed by any predecessor Servicer, or the information contained therein (including the exhibits thereto), the perfection of any such security interests during the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as Servicer. (b) If any change in the Servicer’s or the Issuer’s name, identity, structure or the location of its principal place of business, chief executive office or State of organization occurs, then such party shall deliver thirty (30) days’ prior written notice of such change or relocation to the Servicer, the Trustee, Trustee and the Back-up Servicer and the Rating AgencyServicer, and, no later than the effective date of such change or relocation, the Servicer shall file or cause to be filed such amendments or statements as may be required to preserve and protect the Issuer’s precautionary security interest against the Transferor Seller in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interest in and liens on the Collateral. (c) During the term of this Indenture, the Issuer will maintain its sole state of organization in the State of Delaware, and the Servicer will maintain its sole state of incorporation in a State of the United States.

Security for Notes. (a) The Servicer shall at its own expense, in consideration of the Servicer Fee, cause to be filed the financing statements and assignments described in Sections 4.01(a)(v) and 4.02(b) in accordance with such Sections. In addition, from time to time, the Servicer shall take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary security interest against the applicable Transferor, as applicable, in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interests in and liens on the Collateral against all other Persons, including the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title; provided that, none of the Servicer, the Transferor Transferors nor the Issuer shall be required to file UCC-1 financing statements against Obligors with respect to a Contract related to Equipment that had an original equipment cost at origination of less than (A) if such Contract is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments of any UCC-1 financing statements or other lien recordings or notations made against any Obligor. Notwithstanding anything to the contrary contained herein, if the Servicer is not LEAF Financial Corporation or one of its Affiliates, the successor Servicer shall not be responsible for the initial filings of any UCC financing statements, or any continuation statements filed by any predecessor Servicer, or the information contained therein (including the exhibits thereto), the perfection of any such security interests during the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as Servicer. (b) If any change in the Servicer’s or the Issuer’s name, identity, structure or the location of its principal place of business, chief executive office or State of organization occurs, then such party shall deliver thirty (30) days’ prior written notice of such change or relocation to the Servicer, the Note Insurer, the Trustee, the Back-up Servicer and the Rating Agency, and, Agencies and no later than the effective date of such change or relocation, the Servicer shall file or cause to be filed such amendments or statements as may be required to preserve and protect the Issuer’s precautionary security interest against the Transferor related Transferors in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interest in and liens on the Collateral. (c) During the term of this Indenture, the Issuer will maintain its sole state of organization in the State of Delaware, Delaware and the Servicer will maintain its sole state of incorporation in a State state of the United States.

Security for Notes. (a) The Servicer Notes of each Class shall be executed by the Issuer and delivered to the Indenture Trustee for authentication, and thereupon the same shall be authenticated and delivered to the Issuer by the Indenture Trustee upon Issuer Order at such time as the Issuer shall, at its own expense, (i) have delivered the Daiwa FLOWS Certificates to the Indenture Trustee, duly endorsed by the Company to QRS, by QRS to the Issuer, and by the Issuer to the Indenture Trustee, together with all required transfer documents to enable the Daiwa FLOWS Certificates to be registered in consideration the name of the Servicer Fee, cause Indenture Trustee or its nominee or agent, (ii) have prepared and filed or shall have caused to be filed the financing statements and assignments described in Sections 4.01(a)(v) and 4.02(b) in accordance with such Sections. In additionfiled, from time to time, the Servicer shall take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary security interest against the Transferor, as applicable, in respect of the Contract Assets and the assignment to the Trustee thereof's expense, and the Trustee’s security interests in and liens on the Collateral against all other PersonsCompany, including the filing of financing statementsQRS, amendments thereto and continuation statements, the execution of transfer instruments and the making Indenture Trustee shall have executed (as applicable) three UCC Financing Statements covering the Trust Estate and executed, (x) by the Company as debtor in favor of notations on or taking possession of all records or documents of title; provided thatQRS as secured party and the Indenture Trustee as its assignee, none (y) by QRS as debtor in favor of the ServicerIssuer and the Indenture Trustee as its assignee, and (z) by the Transferor nor Issuer as debtor in favor of the Indenture Trustee, promptly following the issuance of the Notes, and the Issuer shall be prepare and file at each such office, and the Indenture Trustee shall execute, continuation statements with respect thereto, in each case within six months prior to each fifth anniversary of the original filing (the Issuer is hereby also authorized and obligated to make, at the expense of the Issuer, all required filings and refilings of which the Issuer becomes aware, necessary to file UCC-1 financing statements against Obligors preserve the liens created by this Indenture to the extent not done by the Issuer as provided herein), (iii) have provided copies of all notices to account debtors located outside of the United States sent pursuant to Section 9-103(3)(c) of the UCC, and (iv) have delivered a certificate of an Officer of the Issuer, dated as of the date of the Issuer Order, to the effect that, immediately prior to the delivery of the Daiwa FLOWS Certificates on the Delivery Date: (1) the Issuer is the owner of the Daiwa FLOWS Certificates; (2) the Issuer has acquired its ownership of the Daiwa FLOWS Certificates in good faith and without notice of any adverse claim; (3) the Issuer has not assigned any interest or participation in the Daiwa FLOWS Certificates (or, if any such interest or participation has been assigned, it has been released); (4) the Issuer has full right and power to Grant a first priority security interest in and assign and pledge the Trust Estate to the Indenture Trustee subject to no other claim (including, without limitation, a claim pursuant to Section 9-304 of the UCC); (5) the information set forth with respect to a Contract related to Equipment that had an original equipment cost at origination of less than the Daiwa FLOWS Certificates in the Granting Clause is complete and correct; and (A) if such Contract the Issuer is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or the owner of the Other Assets; (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments the Issuer has acquired its ownership of the rights represented by the Other Assets in good faith without notice of any UCC-1 financing statements adverse claim; (C) the Issuer has not assigned any interest or other lien recordings or notations made against any Obligor. Notwithstanding anything participation in the Other Assets; (D) the Issuer has full right to assign its interests in the Other Assets to the contrary contained herein, if the Servicer is not LEAF Financial Corporation or one of its Affiliates, the successor Servicer shall not be responsible for the initial filings of any UCC financing statementsIndenture Trustee, or any continuation statements filed by any predecessor Servicerif consents of third parties are required, or such consents have been obtained; and (E) all material contracts pertaining to the information contained therein (including rights of the exhibits thereto), holders of the perfection of any such security interests during Daiwa FLOWS Certificates have been transferred and assigned to the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as ServicerIndenture Trustee. (b) If any change In connection with the registration of the Daiwa FLOWS Certificates in the Servicer’s name of the Indenture Trustee or the Issuer’s name, identity, structure its nominee or the location of its principal place of business, chief executive office or State of organization occurs, then such party shall deliver thirty (30) days’ prior written notice of such change or relocation to the Serviceragent, the Trustee, Issuer assumes all responsibility for compliance with the Back-up Servicer and the Rating Agency, and, no later than the effective date of such change or relocation, the Servicer shall file or cause to be filed such amendments or statements as may be required to preserve and protect the Issuer’s precautionary security interest against the Transferor in respect requirements of the Contract Assets Daiwa Pooling Agreement and the assignment to the Trustee thereofall applicable securities laws, and for determining whether such transfer is permitted thereunder, and the Trustee’s security interest in Indenture Trustee shall have no responsibility therefor and liens on shall be indemnified by the CollateralTrust Estate and held harmless from any liability arising therefrom. (c) During the term of this Indenture, the Issuer will maintain its sole state of organization in the State of Delaware, and the Servicer will maintain its sole state of incorporation in a State of the United States.