Common use of Security Interest in Financed Equipment Clause in Contracts

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. UCC documents Retail note contract Data tape i) Observe the UCC documents and confirm that John Deere Receivables, Inc.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 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. UCC documents Retail note contract Data tape i) Observe the UCC documents and confirm that John Deere Receivables, Inc.Xxxx Xxxxx 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 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. UCC documents Retail note contract Data tape i) Observe the UCC documents and confirm that John Deere Receivables, Inc.Xxxx Xxxxx 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 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 PassPass Table of Contents

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 tapeSale Contract i) Observe the UCC documents and confirm that John Xxxx 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 at the time of the Cut-off Dateoff viv) If (i) through (viv) are confirmed, then Test Pass