Common use of Valid Transfers; Binding Obligations Clause in Contracts

Valid Transfers; Binding Obligations. This Indenture creates a valid Grant of a first priority Security Interest in the Receivables under the UCC, and such other portion of the Collateral as to which a Security Interest may be granted under the UCC, which security interest is effective for so long as the Notes remain Outstanding, enforceable against creditors of and purchasers from the Issuer, subject to Applicable Law. Each of the Transaction Documents to which the Issuer is a party constitutes a legal, valid and binding obligation of the Issuer enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors’ rights generally or by general equity principles.

Valid Transfers; Binding Obligations. This Indenture creates a valid Grant of a first priority Security Interest in the Receivables which has been validly perfected and is a first priority Security Interest under the UCC, and such other portion of the Collateral as to which a Security Interest may be granted under the UCC, which security interest is effective for so long as the Notes remain Outstanding, enforceable against creditors of and purchasers from the Issuer, subject to Applicable Law. Each of the Transaction Documents to which the Issuer is a party constitutes a legal, valid and binding obligation of the Issuer enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors’ rights generally or by general equity principles.

Valid Transfers; Binding Obligations. This Indenture creates a valid Grant of a first priority Security Interest in the Receivables which has been validly perfected and is a first priority Security Interest under the UCC, and such other portion of the Collateral as to which a Security Interest may be granted under the UCC, which security interest is effective for so long as the Notes remain Outstanding, enforceable against creditors of and purchasers from the Issuer, subject to Applicable Lawapplicable law. Each of the Transaction Documents to which the Issuer is a party constitutes a legal, valid and binding obligation of the Issuer enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors’ rights generally or by general equity principles.

Valid Transfers; Binding Obligations. This Base Indenture creates a valid Grant of a Security Interest in the Participation Certificates which has been validly perfected and is a first priority Security Interest in the Receivables under the UCC, and such other portion of the Collateral as to which a Security Interest may be granted under the UCC, which security interest is effective for so long as the Notes remain Outstanding, enforceable against creditors of and purchasers from the Issuer, subject to Applicable Lawapplicable law. Each of the Transaction Documents to which the Issuer is a party constitutes a legal, valid and binding obligation of the Issuer enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors’ rights generally or by general equity principles.

Valid Transfers; Binding Obligations. This Indenture creates a valid Grant of a first priority Security Interest in the Receivables which has been validly perfected and is a first priority Security Interest under the UCC, and such other portion of the Collateral as to which a Security Interest may be granted under the UCC, which security interest is effective for so long as the Notes remain Outstanding, enforceable against creditors of and purchasers from the Issuer, subject to Applicable Law. Each of the Transaction Documents to which the Issuer is a party constitutes a legal, valid and binding obligation of the Issuer enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors’ ' rights generally or by general equity principles.

Valid Transfers; Binding Obligations. This Indenture creates a valid Grant of a first priority Security Interest in the Receivables which has been validly perfected and is a first priority Security Interest under the UCC, and such other portion of the Collateral as to which a Security Interest may be granted under the UCC, which security interest is effective for so long as the Notes remain Outstanding, enforceable against creditors of and purchasers from the Issuer, subject to Applicable Law. Each of the Transaction Documents to which the Issuer is a party constitutes a legal, valid and binding obligation of the Issuer enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws Applicable Laws affecting creditors’ rights generally or by general equity principles.

Valid Transfers; Binding Obligations. This Base Indenture creates a valid Grant of a Security Interest in the Participation Certificates which has been validly perfected and is a first priority Security Interest in the Receivables under the UCC, and in such other portion of the Collateral as to which a Security Interest may be granted under the UCC, which security interest is effective for so long as the Notes remain Outstanding, enforceable against creditors of of, and purchasers from from, the Issuer, subject to Applicable Lawapplicable law. Each of the Transaction Documents to which the Issuer is a party constitutes a legal, valid and binding obligation of the Issuer enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors’ rights generally or by general equity principles.