Common use of Uniform Commercial Code Opinion Clause in Contracts

Uniform Commercial Code Opinion. The Representative shall have received an opinion or opinions of Skadden, Arps, Slate, Xxxxxxx & Xxxx LLP, special counsel for the Bank and the Issuing Entity, subject to customary qualifications, assumptions, limitations and exceptions, dated the Closing Date, in form and substance reasonably satisfactory to the Representative and its counsel, with respect to certain matters relating to the transfer of the Receivables to the First USA Credit Card Master Trust and the Chase Credit Card Master Trust, the perfection of the First USA Credit Card Master Trust’s and the Chase Credit Card Master Trust’s interest in the Receivables, the transfer of the FUSA Collateral Certificate, the Chase Collateral Certificate and the Receivables from the Bank to the Issuing Entity and the perfection of the Issuing Entity’s interest in the FUSA Collateral Certificate and the Chase Collateral Certificate, and the pledge of the FUSA Collateral Certificate and the Chase Collateral Certificate and the Receivables by the Issuing Entity to the Collateral Agent and the perfection of the Collateral Agent’s interest in the FUSA Collateral Certificate, the Chase Collateral Certificate and the Receivables.

Uniform Commercial Code Opinion. The Representative shall have received an opinion or opinions of Skadden, Arps, Slate, Xxxxxxx & Xxxx LLP, special counsel for the Bank and the Issuing EntityIssuer, subject to customary qualifications, assumptions, limitations and exceptions, dated the Closing Date, in form and substance reasonably satisfactory to the Representative and its counsel, with respect to certain matters relating to the transfer of the Receivables to the First USA Credit Card Master Trust and the Chase Credit Card Master Trust, the perfection of the First USA Credit Card Master Trust’s and the Chase Credit Card Master Trust’s interest in the Receivables, the transfer of the FUSA Collateral Certificate, the Chase Collateral Certificate and the Receivables from the Bank to the Issuing Entity Issuer and the perfection of the Issuing EntityIssuer’s interest in the FUSA Collateral Certificate and the Chase Collateral Certificate, and the pledge of the FUSA Collateral Certificate and the Chase Collateral Certificate and the Receivables by the Issuing Entity Issuer to the Collateral Agent and the perfection of the Collateral Agent’s interest in the FUSA Collateral Certificate, the Chase Collateral Certificate and the Receivables.

Uniform Commercial Code Opinion. The Representative Underwriter shall have received an opinion or opinions of Skadden, Arps, Slate, Xxxxxxx & Xxxx LLP, special counsel for the Bank and the Issuing Entity, subject to customary qualifications, assumptions, limitations and exceptions, dated the Closing Date, in form and substance reasonably satisfactory to the Representative Underwriter and its counsel, with respect to certain matters relating to the transfer of the Receivables to the First USA Credit Card Master Trust and the Chase Credit Card Master Trust, the perfection of the First USA Credit Card Master Trust’s and the Chase Credit Card Master Trust’s interest in the Receivables, the transfer of the FUSA Collateral Certificate, the Chase Collateral Certificate and the Receivables from the Bank to the Issuing Entity and the perfection of the Issuing Entity’s interest in the FUSA Collateral Certificate and the Chase Collateral Certificate, and the pledge of the FUSA Collateral Certificate and the Chase Collateral Certificate and the Receivables by the Issuing Entity to the Collateral Agent and the perfection of the Collateral Agent’s interest in the FUSA Collateral Certificate, the Chase Collateral Certificate and the Receivables.