Due Qualification. The Purchaser shall be duly qualified to do business as a foreign limited liability company in good standing, and shall have obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreement.
Appears in 97 contracts
Samples: Receivables Purchase Agreement (Toyota Auto Receivables 2024-B Owner Trust), Form of Receivables Purchase Agreement (Toyota Auto Receivables 2024-B Owner Trust), Receivables Purchase Agreement (Toyota Auto Receivables 2024-a Owner Trust)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require each jurisdiction where any such qualifications and where the failure to do so qualify will have a material adverse effect on would materially and adversely affect the Purchaser’s ability of the Purchaser to conduct its business or perform its obligations under this Agreementand consummate the transactions contemplated by the Basic Documents.
Appears in 62 contracts
Samples: Receivables Purchase Agreement (Honda Auto Receivables 2024-2 Owner Trust), Receivables Purchase Agreement (Honda Auto Receivables 2024-2 Owner Trust), Receivables Purchase Agreement (Honda Auto Receivables 2024-1 Owner Trust)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company corporation in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 56 contracts
Samples: Receivables Purchase Agreement (Honda Auto Receivables 2011-1 Owner Trust), Receivables Purchase Agreement (Honda Auto Receivables 2011-1 Owner Trust), Receivables Purchase Agreement (Honda Auto Receivables 2010-3 Owner Trust)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require activities requires such qualifications and where qualification, license or approval, unless the failure to so qualify will obtain such qualifications, licenses or approvals would not reasonably be expected to have a material adverse effect on the Purchaser’s ability of the Purchaser to conduct its business or perform its obligations under this Agreement.
Appears in 37 contracts
Samples: Sale Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Sale Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Sale Agreement (Mercedes-Benz Auto Lease Trust 2023-A)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company statutory trust in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require activities requires such qualifications and where qualification, license or approval, unless the failure to so qualify will obtain such qualifications, licenses or approvals would not reasonably be expected to have a material adverse effect on the Purchaser’s ability of the Purchaser to conduct its business or perform its obligations under this Agreement.
Appears in 37 contracts
Samples: Sale Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Sale Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Sale Agreement (Mercedes-Benz Auto Lease Trust 2023-A)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions each jurisdiction in which such qualification, license or approval is necessary for the ownership or lease performance of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementand consummation of the transactions contemplated by the Basic Documents.
Appears in 37 contracts
Samples: Receivables Purchase Agreement (Honda Auto Receivables 2015-4 Owner Trust), Receivables Purchase Agreement (Honda Auto Receivables 2015-4 Owner Trust), Receivables Purchase Agreement (Honda Auto Receivables 2015-3 Owner Trust)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company corporation in good standing, and shall have has obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 25 contracts
Samples: Purchase Agreement (Caterpillar Financial Asset Trust 2005-A), Purchase Agreement (Caterpillar Financial Asset Trust 2004-A), Purchase Agreement (Caterpillar Financial Funding Corp)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company corporation in good standing, and shall have has obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualification.
Appears in 12 contracts
Samples: Purchase Agreement, Purchase Agreement (John Deere Receivables, Inc.), Purchase Agreement (John Deere Receivables, Inc.)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company business trust in good standing, and shall have has obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 11 contracts
Samples: Purchase Agreement (Mmca Auto Owner Trust 2002-5), Purchase Agreement (Mmca Auto Receivables Trust), Purchase Agreement (Mmca Auto Receivables Trust)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, standing and shall have has obtained all necessary licenses and approvals in all jurisdictions each jurisdiction in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on or to obtain such licenses and approvals would, in the ability reasonable judgment of the Purchaser, materially and adversely affect the performance by the Purchaser to conduct its business or perform of its obligations under under, or the validity or enforceability of, this Agreement.
Appears in 8 contracts
Samples: Receivables Purchase Agreement (Wachovia Auto Owner Trust 2008-A), Receivables Purchase Agreement (Nordstrom Inc), Receivables Purchase Agreement (Wachovia Auto Loan Owner Trust 2007-1)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 7 contracts
Samples: Receivables Purchase Agreement (American Honda Receivables LLC), Sale and Servicing (Silverleaf Resorts Inc), Receivables Purchase Agreement (Pooled Auto Securities Shelf LLC)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company corporation in good standing, and shall have has obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of its property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 5 contracts
Samples: Receivables Purchase Agreement (Nal Financial Group Inc), Receivables Purchase Agreement (Nal Financial Group Inc), Receivables Purchase Agreement (Nal Financial Group Inc)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary material licenses and approvals approvals, in all jurisdictions in which the ownership or lease of its property or the conduct of its business shall require such qualifications and qualifications, except where the failure to be so qualify will qualified or to have obtained such licenses or approvals would not have a material adverse effect on the ability of the Purchaser to conduct its Purchaser's earnings, business affairs or perform its obligations under this Agreementbusiness prospects.
Appears in 4 contracts
Samples: Receivables Purchase Agreement (World Omni Auto Receivables LLC), Receivables Purchase Agreement (World Omni Auto Receivables LLC), Receivables Purchase Agreement (World Omni Auto Receivables LLC)
Due Qualification. The Purchaser shall be duly qualified to do business as a foreign limited liability company corporation in good standing, and shall have obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreement.
Appears in 4 contracts
Samples: Receivables Purchase Agreement (Toyota Motor Credit Receivables Corp), Purchase Agreement (American Honda Receivables Corp), Receivables Purchase Agreement (Toyota Motor Credit Receivables Corp)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and each jurisdiction where the failure to do so qualify will have a material adverse effect on would materially and adversely affect the Purchaser’s ability of the Purchaser to conduct its business or perform its obligations under this Agreementand consummate the transactions contemplated by the Basic Documents.
Appears in 3 contracts
Samples: Receivables Purchase Agreement (American Honda Receivables LLC), Receivables Purchase Agreement (American Honda Receivables LLC), Receivables Purchase Agreement (American Honda Receivables LLC)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to do so qualify will have a material adverse effect on would adversely affect the Purchaser’s ability to acquire the Conveyed Assets or the validity or enforceability of the Purchaser to conduct its business or perform its obligations under this AgreementConveyed Assets.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Huntington Funding, LLC), Asset Purchase Agreement (Huntington Auto Trust 2012-2), Asset Purchase Agreement (Huntington Auto Trust 2012-1)
Due Qualification. The Purchaser shall be Buyer is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require requires such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreement.qualification;
Appears in 3 contracts
Samples: Purchase Agreement (Alliance Laundry Systems LLC), Purchase Agreement (Alliance Laundry Systems LLC), Purchase Agreement (Alliance Laundry Corp)
Due Qualification. The Purchaser shall be is duly qualified to do business and, where necessary, is in good standing as a foreign limited liability company in good standing, (or is exempt from such requirement) and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require requires such qualifications and qualification, except where the failure to so qualify will or obtain licenses or approvals would not have a material adverse effect on the its ability of the Purchaser to conduct its business or perform its obligations under this Agreement.;
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Superior Wholesale Inventory Financing Trust 2007-Ae-1), Pooling and Servicing Agreement (SWIFT Master Auto Receivables Trust), Pooling and Servicing Agreement (Wholesale Auto Receivables LLC)
Due Qualification. The Purchaser shall be duly qualified to do business as a foreign limited liability company in good standing, and shall have obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreement.. (iii)
Appears in 2 contracts
Samples: Receivables Purchase Agreement, Receivables Purchase Agreement
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its property or the conduct of its business shall require requires such qualifications and qualification, licenses or approvals, except where the failure to do so qualify will have would not cause a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this AgreementMaterial Adverse Effect.
Appears in 2 contracts
Samples: Purchase and Contribution Agreement (Maxtor Corp), Purchase and Contribution Agreement (Maxtor Corp)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business (including, without limitation, the purchase of Receivables from CPS, the pledge of Collateral to the Trustee for the benefit of the Note Purchaser and the Noteholders pursuant to the Indenture, and the performance of its other obligations under this Agreement and each other Basic Document) shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc)
Due Qualification. The Purchaser shall be duly qualified to do business as a foreign limited liability company corporation in good standing, and shall have obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 2 contracts
Samples: Purchase Agreement (Nationscredit Grantor Trust 1997-1), Purchase Agreement (Nationscredit Grantor Trust 1997-2)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company business trust in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 2 contracts
Samples: Sale and Servicing (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of its property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Securitized Asset Backed Receivables LLC), Receivables Purchase Agreement (World Omni Auto Receivables LLC)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company corporation in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions jurisdictions, in which the ownership or lease of property or the conduct of its business shall require requires such qualifications and where qualification except to the extent that the failure to so qualify will comply therewith would not have a material adverse effect on with respect to the ability of the Purchaser to conduct its business or perform its obligations under this AgreementPurchaser.
Appears in 2 contracts
Samples: Mfi Receivables Purchase Agreement (Dillard Asset Funding Co), Dic Receivables Purchase Agreement (Dillard Asset Funding Co)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company [corporation] in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions jurisdictions, in which the ownership or lease of property or the conduct of its business shall require requires such qualifications and where qualification except to the extent that the failure to so qualify will comply therewith would not have a material adverse effect on with respect to the ability of the Purchaser to conduct its business or perform its obligations under this AgreementPurchaser.
Appears in 2 contracts
Samples: MSNB Receivables Purchase Agreement (Dillard Asset Funding Co), DNB Receivables Purchase Agreement (Dillard Asset Funding Co)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, standing and shall have has obtained all necessary required licenses and approvals approvals, if any, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require requires such qualifications and where the except those jurisdictions in which failure to be so qualify will qualified would not have a material adverse effect on the ability business or operations of the Purchaser to conduct its business or perform its obligations under this Agreementthe Purchaser’s performance hereunder.
Appears in 1 contract
Samples: Purchase and Contribution Agreement (Flagship Credit Corp.)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company corporation in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and qualifications, 2 3 except where the failure of the Purchaser to so qualify will or obtain such licenses or approvals would not have a material adverse effect affect on the ability of Purchaser, the Purchaser to conduct its business Trust or perform its obligations under this Agreement.any Receivable. (c)
Appears in 1 contract
Samples: Purchase Agreement (Daimler Benz Vehicle Receivables Corp)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company statutory trust in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)
Due Qualification. The Purchaser shall be duly qualified to do business as a foreign limited liability company in good standing, and shall have obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreement.. -7- (iii)
Appears in 1 contract
Samples: Receivables Purchase Agreement
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company company, is in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its property or the conduct of its business shall require requires such qualifications qualification and where the failure to do so qualify will have a material adverse effect on would materially and adversely affect the Purchaser’s ability of to acquire the Purchaser Receivables or to conduct its business or perform its the Purchaser’s obligations under this Agreementhereunder.
Appears in 1 contract
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require activities requires such qualifications and where qualification, license or approval, unless the failure to so qualify will obtain such qualifications, licenses or approvals would not reasonably be expected to have a material adverse effect on the Purchaser’s ability of the Purchaser to conduct its business or perform its obligations under this Agreement.. (c)
Appears in 1 contract
Samples: First Tier Sale Agreement
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company corporation in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and qualifications, except where the failure of the Purchaser to so qualify will or obtain such licenses or approvals would not have a material adverse effect affect on the ability of Purchaser, the Purchaser to conduct its business Trust or perform its obligations under this Agreementany Receivable.
Appears in 1 contract
Samples: Purchase Agreement (Daimler Benz Vehicle Receivables Corp)
Due Qualification. The Purchaser shall be duly qualified to do business as a foreign limited liability company in good standing, and shall have 7 obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreement.. (iii)
Appears in 1 contract
Samples: Receivables Purchase Agreement
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to do so qualify will have a material adverse effect on would materially and adversely affect the Purchaser's ability to acquire the Receivables or the validity or enforceability of the Purchaser to conduct its business or perform its obligations under this AgreementReceivables.
Appears in 1 contract
Samples: Transfer and Sale Agreement (Fifth Third Auto Trust 2004-A)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business (including, without limitation, (i) the purchase of Receivables from CPS, (ii) the pledge of Collateral to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Agreement, and (iii) the performance of its other obligations under this Agreement and each other Loan Document) shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualifications.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its property or the conduct of its business shall require requires such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualification, licenses and/or approvals.
Appears in 1 contract
Due Qualification. The Purchaser shall be is duly qualified to do business as a foreign limited liability company in good standing, and shall have has obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Purchaser to conduct its business or perform its obligations under this Agreementqualification.
Appears in 1 contract
