Covenants, Representations, and Warranties of Servicer. By its execution and delivery of this Agreement, the Servicer makes the following representations, warranties and covenants on which the Trust Collateral Agent relies in accepting the Receivables and on which the Trustee relies in authenticating the Notes.
(a) The Servicer covenants as follows:
Covenants, Representations, and Warranties of Servicer. The Servicer hereby makes the following covenants, representations and warranties on which (i) the Issuer is deemed to have relied in acquiring the Contracts and (ii) the Insurer is deemed to have relied in issuing the Policy. Such covenants, representations and warranties speak as of the execution and delivery of this Agreement and as of the Closing Date or the related Prefunding Transfer Date, as applicable, but shall survive the sale, transfer and assignment of the Contracts to the Issuer and the pledge thereof to the Indenture Trustee pursuant to the Indenture.
(a) The Servicer covenants as to the Contracts:
(i) The Financed Vehicle securing each Contract shall not be released from the lien granted by the Contract in whole or in part, except as contemplated herein.
(ii) The Servicer shall not impair the rights of the Noteholders or the Insurer in the Contracts.
(iii) The Servicer shall not increase the number of payments under a Contract, nor increase the amount financed under a Contract, nor extend or forgive payments on a Contract, except as provided in Section 3.02.
(iv) The Servicer may consent to the sale or transfer by an Obligor of any Financed Vehicle if the original Obligor under the related Contract remains liable under such Contract and the transferee assumes all of the Obligor's obligations thereunder and upon doing so the credit profile with respect to such Obligor will not be changed from adequate to speculative by virtue of the addition of the transferee's obligation thereunder.
(b) The Servicer represents and warrants as of the Closing Date:
(i) The Servicer (1) has been duly organized, is validly existing and in good standing as a corporation organized and existing under the laws of the State of Delaware, (2) has qualified to do business as a foreign corporation and is in good standing in each jurisdiction where the character of its properties or the nature of its activities makes such qualification necessary, and (3) has full power, authority and legal right to own its property, to carry on its business as presently conducted, and to enter into and perform its obligations under this Agreement.
(ii) The execution and delivery by the Servicer of this Agreement are within the corporate power of the Servicer and have been duly authorized by all necessary corporate action on the part of the Servicer. Neither the execution and delivery of this Agreement, nor the consummation of the transactions herein contemplated, nor compliance with the p...
Covenants, Representations, and Warranties of Servicer. By its execution and delivery of this Agreement, the Servicer makes the following representations, warranties and covenants.
(a) The Servicer covenants as follows:
Covenants, Representations, and Warranties of Servicer. By its execution and delivery of this Agreement, the Servicer makes the following representations, warranties and covenants on which the Issuer relies in purchasing the Receivables and issuing the Notes, on which the Indenture Trustee relies in authenticating the Notes and on which the Security Insurer relies in issuing the Note Policy.
(a) The Servicer covenants as follows:
Covenants, Representations, and Warranties of Servicer. The Servicer hereby makes the following covenants to the other parties hereto and the Certificate Insurer on which the Trustee shall conclusively rely in accepting the Receivables in trust and issuing the Certificates and on which the Certificate Insurer shall rely in issuing the Policy.
(a) The Servicer covenants as follows:
Covenants, Representations, and Warranties of Servicer. By its execution and delivery of this Agreement, the Servicer makes the following representations, warranties and covenants on which the Trust relies in accepting the Receivables and issuing the Notes, the Insurer relies in issuing the Note Policy, and on which the Indenture Trustee relies in authenticating the Notes. Unless otherwise specified, such representations and warranties speak as of the Closing Date with respect to Initial Receivables and as of the related Subsequent Transfer Date with respect to Subsequent Receivables, but shall survive the sale, transfer and assignment of the Receivables to the Trust and the pledge by the Trust of its rights hereunder to the Indenture Trustee.
(a) The Servicer covenants as follows:
Covenants, Representations, and Warranties of Servicer. The Servicer makes the following representations, warranties and covenants on which the Issuer relies in accepting the Receivables and issuing the Notes, on which the Trustee relies in authenticating the Notes and on which the Security Insurer relies in issuing the Policy.
(a) The Servicer covenants as follows:
Covenants, Representations, and Warranties of Servicer. By its execution and delivery of this Agreement, the Servicer makes the following representations, warranties and covenants on which the Borrower is deemed to have relied in acquiring the Receivables and upon which the Secured Parties shall be deemed to have relied in making any Advance pursuant to the Security Agreement, as the case may be. The Servicer covenants as follows:
Covenants, Representations, and Warranties of Servicer. By ------------------------------------------------------ its execution and delivery of this Agreement, the Servicer makes the following representations, warranties and covenants on which the Trust Collateral Agent relies in accepting the Receivables, on which the Trustee relies in authenticating and issuing the Notes, on which the Owner Trustee relies in executing the Certificates, on which the Insurer relies in issuing the Note Policy and on which the Noteholders rely in purchasing the Notes. The representations speak as of the execution and delivery of this Agreement and as of the Closing Date and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trustee pursuant to the Indenture.
(a) The Servicer covenants as to the Receivables:
Covenants, Representations, and Warranties of Servicer. (a) The Servicer covenants, with respect to each Series 20 -SN Lease Asset, that from and after the Series 20 -SN Closing Date:
