Common use of UIntention of Parties Regarding Delaware Securitization Act Clause in Contracts

UIntention of Parties Regarding Delaware Securitization Act. UIt is the intention of the Seller and the Issuer that the transfer and assignment of the Trust Property contemplated by USection 2.1U shall constitute a sale of the Trust Property from the Seller to the Issuer, conveying good title thereto free and clear of any liens, and the beneficial interest in and title to the Trust Property shall not be part of the Seller’s estate in the event of the filing of a bankruptcy petition by or against the Seller under any bankruptcy or similar law. In addition, for purposes of complying with the requirements of the Asset-Backed Securities Facilitation Act of the State of Delaware, 6 Del. C. § 2701A, et seq. (the “Securitization Act”), each of the parties hereto hereby agrees that: