Examples of First Step Purchased Property in a sentence
The Administrator shall, in accordance with its customary practices, policies and procedures and at its own expense, take such steps as are necessary to maintain perfection of the security interest created by each Secured Note in the Lease Assets and other First Step Purchased Property as set forth in Section 2.09 of the Servicing Agreement.
The representations and warranties regarding creation, perfection and priority of security interests in the First Step Purchased Property, which are attached to this Agreement as Appendix A, are true and correct to the extent they are applicable.
All filings (including UCC filings) necessary in any jurisdiction to give Ally Auto a first priority perfected ownership interest in the First Step Purchased Property have been made.
In consideration for the First Step Purchased Property, Ally Auto shall, on or about the Closing Date, pay to the Seller an amount equal to the Initial Aggregate Secured Note Principal Balance in respect of the Secured Notes (the “Secured Notes Purchase Price”), and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A (the “First Step Secured Notes Assignment”).
The Administrator shall do nothing to impair the rights or security interest of the Depositor or any Interested Party in and to the First Step Purchased Property.
The Seller agrees to pay all reasonable out-of-pocket costs and expenses of Ally Auto, including fees and expenses of counsel, in connection with the perfection as against third parties of Ally Auto’s right, title and interest in, to and under the Secured Notes and the other First Step Purchased Property and the enforcement of any obligation of the Seller hereunder.
All filings (including UCC filings) necessary in any jurisdiction to give XXXX a first priority perfected ownership interest in the First Step Purchased Property have been made.
The Trust Administrator shall do nothing to impair the rights or security interest of XXXX or any Interested Party in and to the First Step Purchased Property.
In consideration for the First Step Purchased Property, XXXX shall, on or about the Series 20__-SN_ Closing Date, pay to Ally Financial an amount equal to the Initial Aggregate Secured Note Principal Balance in respect of the COLT 20__-SN_ Secured Notes (the “Secured Notes Purchase Price”), and Ally Financial shall execute and deliver to XXXX an assignment in the form attached as Exhibit A (the “First Step Secured Notes Assignment”).
The Trust Administrator shall, in accordance with its customary practices, policies and procedures and at its own expense, take such steps as are necessary to maintain perfection of the security interest created by each COLT 20__-SN_ Secured Note in the Series 20__-SN_ Lease Assets and other First Step Purchased Property as set forth in Section 2.09 of the COLT Servicing Agreement.