Assignor's Representations and Warranties Regarding Lease Purchase Transactions. With respect to each Lease Purchase Transaction, Assignor hereby represents and warrants to Assignee as of the applicable Closing Date, that with respect to each item of Paper included in the Lease Purchase Transaction: (i) The information set forth in the Lease Transaction Purchase Schedule with respect to each item of Paper and the underlying Equipment is correct and complete in all material respects as its relates to such items of Paper and, Equipment; (ii) Each Lease Transaction represented by an item of Paper is a commercial transaction for business purposes and none of the Equipment is, being used for household, consumer or personal purposes; (iii) Assignor is the record and beneficial owner of the Paper and has good title to and owns the Paper free and clear of any and all Liens and, upon the execution and delivery of an Assignment and the payment of the Advance for Lease Transactions, shall transfer to Assignee good title to the Paper being sold, in each case, free and clear of any and all Liens; and Assignor has not sold, assigned or pledged the Paper or any of its rights therein to any party under any then effective agreement other than Assignee; (iv) Each Transaction Document has been duly authorized, executed and delivered by the Customer under the Paper. The Paper, related Transaction Documents and all accompanying guarantees, waivers, and other instruments are legal, valid, genuine and binding obligations enforceable in accordance with their respective terms, except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium or other similar laws affecting creditors' rights generally, now or hereafter in effect, and except as such enforceability may be limited by general principles of equity (whether considered in suit at law or in equity); (v) As of the applicable Closing Date, the File pertaining to the Paper is accurate and complete in all material respects as to information and documents received by Assignor, and signatures are genuine and the names, addresses, amounts and other statements of fact contained in each item of Paper are materially true and correct, including, without limitation, information regarding the payment history of each Lease Transaction and the Assignor has not failed to state any fact of which it is aware, necessary to make any of the above not misleading;
