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.
Appears in 59 contracts
Samples: Purchase Agreement (CNH Equipment Trust 2024-C), Purchase Agreement (CNH Equipment Trust 2024-C), Purchase Agreement (CNH Equipment Trust 2024-B)
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.. Contract Receivable File
Appears in 48 contracts
Samples: Asset Representations Review Agreement (CNH Equipment Trust 2024-C), Asset Representations Review Agreement (CNH Equipment Trust 2024-C), Asset Representations Review Agreement (CNH Equipment Trust 2024-B)
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 CNHCA 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 CNHCA as secured party.
Appears in 40 contracts
Samples: Purchase Agreement (CNH Equipment Trust 2014-A), Purchase Agreement (CNH Equipment Trust 2014-A), Purchase Agreement (CNH Equipment Trust 2013-D)
