Common use of Transfer Filings Clause in Contracts

Transfer Filings. On the Closing Date, immediately upon the sale hereunder, the Securitization Property shall be validly transferred and sold to the Issuer, and the Issuer shall own all the Securitization Property free and clear of all Liens (except for the Lien created in favor of the Indenture Trustee granted under the Indenture and valid pursuant to the Statute) and all filings and actions to be made or taken by the Seller (including filings with the Michigan Department of State pursuant to the Statute and the UCC) necessary to give the Issuer a valid ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to the Statute) in the Securitization Property have been made or taken. No further action is required to maintain such ownership interest. All applicable filings also have been made to the extent required by applicable law in any jurisdiction to perfect the Back-Up Security Interest granted by the Seller to the Issuer.

Transfer Filings. On the Closing Date, immediately upon the sale hereunder, the Securitization Property shall be validly transferred and sold to the Issuer, and the Issuer shall own all the Securitization Property free and clear of all Liens (except for the Lien created in favor of the Indenture Trustee granted under the Indenture and valid perfected pursuant to the Statute) and all filings and actions to be made or taken by the Seller (including filings with the Michigan Department of State pursuant to the Statute and the UCCStatute) necessary in any jurisdiction to give the Issuer a valid ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to the Statute) in the Securitization Property have been made or taken. No further action is required to maintain such ownership interestinterest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to the Statute). All applicable filings also have been made to the extent required by applicable law in any jurisdiction to perfect the Back-Up Security Interest granted by the Seller to the Issuer.

Transfer Filings. On the Closing Date, immediately upon the sale hereunder, the Securitization Uplift Property shall be validly transferred and sold to the Issuer, and the Issuer shall own all the Securitization Uplift Property free and clear of all Liens (except for the any Lien created in favor of the Indenture Trustee Holders or that may be granted under the Indenture and valid pursuant to the StatuteBasic Documents) and all filings and actions action to be made or taken by the Seller (including including, without limitation, filings with the Michigan Department Secretary of State pursuant to of the Statute and the UCCState of Delaware) necessary in any jurisdiction to give the Issuer a valid perfected ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to and that may be granted under the Indenture and perfected pursuant to the StatuteBasic Documents) in the Securitization Uplift Property have been made or taken. No further action is required to maintain such ownership interestinterest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders and that may be granted under the Basic Documents) and to give the Indenture Trustee a first priority perfected security interest in the Uplift Property. All applicable filings and action have also have been made to the extent required by applicable law in any jurisdiction or taken to perfect the Back-Up Security Interest security interest in the Uplift Property granted by the Seller to the IssuerIssuer (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders that may be granted under the Basic Documents) and, to the extent necessary, the Indenture Trustee pursuant to Section 2.01.