Common use of Valid Sale; Binding Obligations Clause in Contracts

Valid Sale; Binding Obligations. This Agreement evidences a valid sale, transfer, and assignment of the Trust Property enforceable against creditors of and purchasers from the Seller; and a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity.

Appears in 31 contracts

Samples: Sale and Servicing Agreement (Credit Acceptance Corp), Sale and Servicing Agreement (Credit Acceptance Corp), Sale and Servicing Agreement (Credit Acceptance Corp)

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Valid Sale; Binding Obligations. This Agreement evidences a valid sale, transfer, transfer and assignment of the Trust Property Receivables, enforceable against creditors of and purchasers from the SellerSeller (other than a good faith purchaser for value in the ordinary course of business who takes actual possession of one or more Receivables); and this Agreement is a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, subject to the effects effect of bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and to by general principles of equityequitable principles.

Appears in 22 contracts

Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2003-B Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2005-a Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2002-a Owner Trust)

Valid Sale; Binding Obligations. This Agreement evidences a valid sale, transfer, transfer and assignment of the Trust Property Estate, enforceable against creditors of and purchasers from the Seller; and a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2007-1), Sale and Servicing Agreement (Drive Auto Receivables LLC), Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2007-2)

Valid Sale; Binding Obligations. This Agreement evidences a valid sale, transfer, and assignment of the Trust Property enforceable against creditors of and purchasers from the Seller; and a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors' rights generally and to general principles of equity.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Credit Acceptance Corporation), Sale and Servicing Agreement (Credit Acceptance Corporation), Sale and Servicing Agreement (Credit Acceptance Corporation)

Valid Sale; Binding Obligations. This The Agreement evidences a valid sale, transfer, transfer and assignment of the Trust Property Receivables, enforceable against creditors of and purchasers from the SellerSeller (other than a good faith purchaser for value in the ordinary course of business who takes actual possession of one or more Receivables); and the Agreement is a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, reorganization, except as enforceability may be limited by bankruptcy or other similar laws affecting the enforcement of creditors’ rights generally and to general principles of equitylaws.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nissan Auto Receivables Corp /De)

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Valid Sale; Binding Obligations. This Agreement evidences a valid sale, transfer, transfer and assignment of the Trust Property Receivables, enforceable against creditors of and purchasers from the SellerSeller (other than a good faith purchaser for value in the ordinary course of business who takes actual possession of one or more Receivables); and this Agreement is a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, subject to the effects effect of bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity.moratorium

Appears in 1 contract

Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2000-C Owner Trust)

Valid Sale; Binding Obligations. This Agreement evidences a valid sale, transfer, and assignment of the Trust Property enforceable against creditors of and purchasers from the Seller; and a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity.. 62

Appears in 1 contract

Samples: Sale and Servicing Agreement (Credit Acceptance Corp)

Valid Sale; Binding Obligations. This The Agreement evidences a valid ------------------------------- sale, transfer, transfer and assignment of the Trust Property Receivables, enforceable against creditors of and purchasers from the SellerSeller (other than a good faith purchaser for value in the ordinary course of business who takes actual possession of one or more Receivables); and the Agreement is a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, reorganization, except as enforceability may be limited by bankruptcy or other similar laws affecting the enforcement of creditors’ rights generally and to general principles of equitylaws.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nissan Auto Receivables Corp /De)

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