Examples of Loan Assets in a sentence
The Originator makes, and upon each conveyance of Subsequent Loans or Substitute Loans, is deemed to make, the representations and warranties in Section 3.01 through Section 3.04, on which the Issuer will rely in purchasing the Initial Loan Assets on the Closing Date (and, any Subsequent Loan Assets or Substitute Loan Assets on the relevant Transfer Date), and on which the Noteholders will rely.
At the time of and after giving effect to each conveyance of Loan Assets under the Sale and Servicing Agreement, the Issuer is Solvent on and as of the date thereof.
This Agreement shall effect a valid sale of the Loan Assets from the Originator to the Issuer and upon consummation of such sale, the Issuer will have a perfected interest in such Loan Assets of first priority (subject to Permitted Liens).
On the Closing Date, simultaneously (i) the Issuer shall deliver the Notes to the Initial Purchasers, (ii) the Originator will sell, convey and assign all its right, title and interest in the Initial Loan Assets to the Issuer in accordance with Section 2.02 of the Sale and Servicing Agreement, and (iii) the Initial Purchasers shall transfer to the Advance Account, for deposit in same day funds, the Initial Advance.
Such representations and warranties are given as of the execution and delivery of this Agreement and as of the Closing Date (or Transfer Date, as applicable), but shall survive the sale, transfer and assignment of the Loan Assets to the Issuer.