Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of CNHICA as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of CNHICA as secured party.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party or, in accordance with its customary standards, policies and servicing procedures, the Seller has taken all steps as are necessary to result in a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party. UCC documents Retail note contract Data tape
i) Observe the UCC documents and confirm that John Deere Receivables, Inc., or an acceptable variation of the name, is reported as the first xxxx xxxxxx
xx) Observe the Obligor name on the Contract and confirm the name matches the name on the UCC documents
iii) Observe the Serial Number on the Contract and confirm it matches the Serial Number as reported in the UCC documents
iv) Confirm that a lien search was completed and reflects no issue, or that the UCC filing was completed within 20 days of origination
v) Review the data tape and confirm the Financed Equipment was not marked as repossessed as of the Cut-off Date
vi) If (i) through (v) are confirmed, then Test Pass
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party or, in accordance with its customary standards, policies and servicing procedures, the Seller has taken all steps as are necessary to result in a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party.
Security Interest in Financed Equipment. Immediately prior to the transfer of the Receivables by the Seller to the Depositor, each Receivable was secured by a valid, binding and enforceable first priority perfected security interest in favor of the Seller in the related Financed Equipment or all necessary action with respect to such Receivable has been taken to perfect a first priority security interest in the related Financed Equipment in favor of the Seller, which security interest has been validly assigned by the Seller to the Depositor. The Servicer has received, or will receive within 180 days after the Closing Date, the original certificate of title for each item of Financed Equipment or notice from the applicable State entity issuing such certificate of title, that such certificate of title is being processed (other than any Financed Equipment that is not subject to a certificate of title statute or vehicle registration law or is subject to a certificate of title statute or vehicle registration law that does not require that the original certificate of title for such Financed Equipment be delivered to the Seller).
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of the Seller as secured party.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Case Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of Case Credit as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of Case Credit as secured party, except that (A) no security interest against the Obligor is created in True Lease Equipment and (B) Case Credit makes no representation or warranty as to any security interest granted by any Dealer to secure the Dealer's obligations to make payments in respect of Termination Values.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of the Seller as secured party. As of the Cut-off Date, such Financed Equipment is located in the United States of America.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each NH Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of NH Credit as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of NH Credit as secured party, except that (A) no security interest against the Obligor is created in True Lease Equipment and (B) NH Credit makes no representation or warranty as to any security interest granted by any Dealer to secure the Dealer's obligations to make payments in respect of Termination Values.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party or, in accordance with its customary standards, policies and servicing procedures, the Seller has taken all steps as are necessary to result in a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party. UCC documents Retail note contract Data tape
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party or, in accordance with its customary standards, policies and servicing procedures, the Seller has taken all steps as are necessary to result in a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party. UCC documents Retail note contract Data tape
i) Observe the UCC documents and confirm that Xxxx Deere Receivables LLC, or an acceptable variation of the name, is reported as the first xxxx xxxxxx xx) Observe the Obligor name on the Contract and confirm the name matches the name on the UCC documents
