Examples of Contract Assets in a sentence
Davidson Credit has not authorized the filing of any UCC financing statements listing the Contract Assets as collateral other than financing statements relating to the transactions contemplated in the Transfer and Sale Agreement.
The transactions contemplated by this Agreement and the Sale and Servicing Agreement constitute valid sales, transfers and assignments from the Seller to the Trust Depositor and from the Trust Depositor to the Trust of all of the Seller’s right, title and interest in the Contract Assets as of the Closing Date.
The Seller agrees to pay all reasonable costs and disbursements in connection with the perfection and the maintenance of perfection, as against all third parties, of (i) the Trust Depositor’s, the Trust’s and the Indenture Trustee’s right, title and interest in and to the Contract Assets (including, without limitation, the security interests in the Motorcycles related thereto), and (ii) the security interests provided for in the Indenture.
The transactions contemplated by the Transfer and Sale Agreement and the Sale and Servicing Agreement constitute valid sales, transfers and assignments from Seller to Trust Depositor and from Trust Depositor to the Trust of all of Seller’s right, title and interest in the Contract Assets as of the Closing Date.
The Seller acknowledges that (i) pursuant to the Sale and Servicing Agreement, the Trust Depositor will assign all of its right, title and interest in and to the Contract Assets and its right to exercise the remedies created by Section 5.01 hereof for breaches of representations and warranties of the Seller contained in Sections 3.01, 3.02, 3.03 and 3.04 hereof to the Trust, and (ii) pursuant to the Indenture, the Trust shall assign such rights to the Indenture Trustee for the benefit of the Noteholders.