Common use of Maintenance of Security Interests in Vehicles Clause in Contracts

Maintenance of Security Interests in Vehicles. Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably request, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title as a designation in its capacity as agent of the Trust for such limited purpose.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (HSBC Auto Receivables Corp), Sale and Servicing Agreement (HSBC Automotive Trust (USA) 2006-1), Sale and Servicing Agreement (HSBC Automotive Trust (USA) 2006-3)

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Maintenance of Security Interests in Vehicles. Consistent with the policies and procedures required by this Agreement, the Master Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably request, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, hereby authorizes the Master Servicer, and the Master Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title as a designation in its capacity as agent of the Trust for such limited purpose.

Appears in 3 contracts

Samples: Master Sale and Servicing Agreement (HSBC Automotive Trust 2005-1), Master Sale and Servicing Agreement (HSBC Automotive Trust 2005-2), Master Sale and Servicing Agreement (HSBC Automotive Trust 2005-3)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Indenture Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason; provided, that the Indenture Trustee shall have no obligation to monitor the security interest granted by the Obligors under the respective Receivables. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller Servicer hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, Exeter as the secured party on the certificate of title as a designation Lien Certificate is in its capacity as Servicer as agent of the Trust for such limited purposeTrust.

Appears in 2 contracts

Samples: Sale and Servicing (Efcar, LLC), Sale and Servicing (Efcar, LLC)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust Collateral Agent and the Secured Parties as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of Borrower and the Trust, Collateral Agent hereby authorizes authorize the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest in favor of the Collateral Agent on behalf of the Trust Secured Parties as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Borrower is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustCollateral Agent on behalf of the Secured Parties, the Seller Servicer hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI AmeriCredit (or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, Titled Third-Party Lender) as the secured party on the certificate of title as a designation Financed Vehicle’s Lien Certificate is in its capacity as Servicer as agent of the Trust for such limited purposeSecured Parties.

Appears in 2 contracts

Samples: Receivables Funding Agreement (Americredit Corp), Receivables Funding Agreement (Americredit Corp)

Maintenance of Security Interests in Vehicles. Consistent with the policies and procedures required by this Agreement, the Master Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee or the Insurer (for so long as it is the Controlling Party) shall reasonably request, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, hereby authorizes the Master Servicer, and the Master Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller hereby agrees to cause HAFI HAFC or any Affiliate of HAFI HAFC that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI HAFC or any Affiliate of HAFI HAFC that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title as a designation in its capacity as agent of the Trust for such limited purpose.

Appears in 2 contracts

Samples: Master Sale and Servicing Agreement (Household Automotive Trust 2003-2), Master Sale and Servicing Agreement (Household Auto Receivables Corp)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust Issuer as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Indenture Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust Issuer as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Issuer is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustIssuer, the Seller Servicer hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI the Receivables Seller (or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, Titled Third-Party Lender) as the secured party on the certificate of title as a designation is in its capacity as Servicer as agent of the Trust for such limited purposeIssuer.

Appears in 2 contracts

Samples: Sale and Servicing (Americredit Corp), Sale and Servicing Agreement (Americredit Corp)

Maintenance of Security Interests in Vehicles. Consistent with the policies and procedures required by this Agreement, the Master Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably request, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, hereby authorizes the Master Servicer, and the Master Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller HAFC hereby agrees that the designation of any of HAFC, a predecessor company to cause HAFI HAFC, or any Affiliate of HAFI that is any of the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, foregoing as the secured party on the certificate of title as a designation is in its capacity as agent of the Trust for such limited purpose.

Appears in 2 contracts

Samples: Master Sale and Servicing Agreement (Household Auto Receivables Corp), Execution Copy Master Sale and Servicing Agreement (Household Automobile Revolving Trust I)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, UCC financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, Trust and Trust Collateral Agent (on behalf of the Trust, Insurer and the Noteholders) hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust and the Trust Collateral Agent (on behalf of the Insurer and the Noteholders) as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust and the pledge thereof to the Trust Collateral Agent (on behalf of the Insurer and the Noteholders), the filing of UCC financing statements all as provided herein, is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustTrust and the pledge thereof to the Trust Collateral Agent (on behalf of the Insurer and the Noteholders), the Seller Servicer hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the each Contributing Subsidiary's designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title is as a designation in its capacity as an agent of the Trust for such limited purposeTrust.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust Purchaser as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, including but not limited to, to obtaining the authorization or execution by the Obligors and the recording, registering, filing, re-recording, re-filing, registering and re-registering refiling of all security agreements, financing statements and continuation statements or instruments as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect or continue the perfection of such security interest on behalf of the Trust Purchaser and the Noteholder as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Purchaser, and the pledge thereof by the Purchaser to the Trustee is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustTrustee, each of the Trustee, the Controlling Party and the Seller hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI the Seller or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, TFC (as applicable), as the secured party on the certificate of title is in respect of the Seller's or TFC's capacity as a designation in its capacity Servicer or subservicer, respectively, as agent of the Trust Trustee for such limited purposethe benefit of the Noteholder.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created in the name of the Contributor by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestTrustee, including, including but not limited to, to obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Indenture Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust Indenture Trustee as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Indenture Trustee is insufficient, insufficient without a notation on the related Financed Vehicle’s certificate Certificate of titleTitle, or without fulfilling any additional administrative requirements under the laws of the state State in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustIndenture Trustee, the Seller hereby agrees to cause HAFI or any Affiliate of HAFI parties hereto agree that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the Contributor’s designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate Certificate of title Title is, with respect to each secured party, as a designation applicable, in its capacity as agent of the Trust Indenture Trustee. The Servicer shall provide copies of all such filings to the Indenture Trustee, the Agent and the Custodian. If the Backup Servicer is acting as successor Servicer, it shall be reimbursed pursuant to Section 5.03(b) of the Indenture for such limited purposeany costs incurred by it in performing its duties pursuant to this Section 6.04.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Bay View Capital Corp)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this AgreementServicing Standard, the Servicer shall take such steps on behalf of the Trust Borrower as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, including but not limited to, to obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Funding Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust Borrower as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Borrower is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustBorrower, the Seller Servicer hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the Seller's designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title as a designation shall be deemed in its capacity as Servicer as agent of the Trust for Secured Parties and further agrees to hold such limited purposecertificate of title as the agent and custodian of the Secured Parties.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust Purchaser as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, including but not limited to, to obtaining the authorization or execution by the Obligors and the recording, registering, filing, re-recording, re-filing, registering and re-registering refiling of all security agreements, financing statements and continuation statements or instruments as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect or continue the perfection of such security interest on behalf of the Trust Purchaser and the Noteholder as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Purchaser, and the pledge thereof by the Purchaser to the Trustee is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustTrustee, each of the Trustee and the Seller hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI the Seller or any Affiliate of HAFI that is the seller under a Master Receivables Purchase AgreementTFC, as applicable, as the secured party on the certificate of title is in respect of the Seller's capacity as a designation in its Servicer and TFC's capacity as subservicer, as applicable, as agent of the Trust Trustee for such limited purposethe benefit of the Noteholder.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created in the name of the Contributor by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestTrustee, including, including but not limited to, to obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Indenture Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust Indenture Trustee as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Indenture Trustee is insufficient, insufficient without a notation on the related Financed Vehicle’s certificate 's Certificate of titleTitle, or without fulfilling any additional administrative requirements under the laws of the state State in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustIndenture Trustee, the Seller hereby agrees to cause HAFI or any Affiliate of HAFI parties hereto agree that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the Contributor's designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate Certificate of title Title is, with respect to each secured party, as a designation applicable, in its capacity as agent of the Trust Indenture Trustee. The Servicer shall provide copies of all such filings to the Indenture Trustee, the Agent and the Custodian. If the Backup Servicer is acting as successor Servicer, it shall be reimbursed pursuant to Section 5.03(b) of the Indenture for such limited purposeany costs incurred by it in performing its duties pursuant to this Section 6.04.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Bay View Capital Corp)

Maintenance of Security Interests in Vehicles. Consistent with the policies and procedures required by this Agreement, the Master Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably request, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, hereby authorizes the Master Servicer, and the Master Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s Vehicles certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller HAFC hereby agrees that the designation of any predecessor company to cause HAFI HAFC, or any Affiliate of HAFI that is any of the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, foregoing as the secured party on the certificate of title as a designation is in its capacity as agent of the Trust for such limited purpose.

Appears in 1 contract

Samples: Master Sale and Servicing Agreement (Household Automotive Trust 2001-1)

Maintenance of Security Interests in Vehicles. (a) Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable Contract in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestwith respect to each Receivable, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective ReceivablesContracts. The Owner Trustee, on behalf Servicer (so long as AmeriCredit is the Servicer) shall take all action required under Section 2.1 and 2.6 of the Security Agreement with respect to the notation of Contracts and the marking of records of the Trust, . The Collateral Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller Servicer hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, AmeriCredit as the secured party on the certificate of title as a designation Lien Certificate is in its capacity as Servicer as agent of the Trust for and that to the extent any Originating Affiliate or Titled Third Party Lender is designated as the secured party on the Lien Certificate, AmeriCredit shall enforce its rights through such limited purposeOriginating Affiliate or Titled Third Party Lender, in its capacity as Servicer as agent of the Trust.

Appears in 1 contract

Samples: Servicing and Custodian Agreement (Americredit Corp)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, Trust and Trust Collateral Agent (on behalf of the Trust, Insurer and the Noteholders) hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust and the Trust Collateral Agent (on behalf of the Insurer and the Noteholders) as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust and the pledge thereof to the Trust Collateral Agent (on behalf of the Insurer and the Noteholders), the filing of UCC financing statements all as provided herein, is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustTrust and the pledge thereof to the Trust Collateral Agent (on behalf of the Insurer and the Noteholders), the Seller Servicer hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the each Contributing Subsidiary's designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title is as a designation in its capacity as an agent of the Trust for such limited purposeTrust.

Appears in 1 contract

Samples: Sale and Servicing Agreement (MFN Financial Corp)

Maintenance of Security Interests in Vehicles. (a) Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable Contract in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestwith respect to each Receivable, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective ReceivablesContracts. The Owner Trustee, on behalf Servicer (so long as AmeriCredit is the Servicer) shall take all action required under Section 2.1 and 2.6 of the Security Agreement with respect to the notation of Contracts and the marking of records of the Trust, . The Collateral Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller Servicer hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, AmeriCredit as the secured party on the certificate of title as a designation Lien Certificate is in its capacity as Servicer as agent of the Trust for and that to the extent any Titled Third Party Lender is designated as the secured party on the Lien Certificate, AmeriCredit shall enforce its rights through such limited purposeTitled Third Party Lender, in its capacity as Servicer as agent of the Trust.

Appears in 1 contract

Samples: Servicing and Custodian Agreement (Americredit Corp)

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Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust Purchaser, the Note Purchaser and the Noteholders as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, including but not limited to, to obtaining the authorization or execution by the Obligors and the recording, registering, filing, re-recording, re-filing, registering and re-registering refiling of all security agreements, financing statements and continuation statements or instruments as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect or continue the perfection of such security interest on behalf of the Trust Purchaser and Trustee for the benefit of the Noteholders and Note Purchaser as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Purchaser, and the pledge thereof by the Purchaser to the Trustee is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustTrustee for the benefit of the Noteholders and the Note Purchaser, each of the Trustee and the Seller hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the Seller's designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title is in respect of the Seller's capacity as a designation in its capacity Servicer as agent of the Trust Trustee for such limited purposethe benefit of the Noteholders and the Note Purchaser.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Maintenance of Security Interests in Vehicles. Consistent with the policies and procedures required by this Agreement, the Master Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably request, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, hereby authorizes the Master Servicer, and the Master Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller hereby agrees to cause HAFI HAFC or any Affiliate of HAFI HAFC that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI HAFC or any Affiliate of HAFI HAFC that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title as a designation in its capacity as agent of the Trust for such limited purpose.

Appears in 1 contract

Samples: Master Sale and Servicing Agreement (Household Automotive Trust 2004-1)

Maintenance of Security Interests in Vehicles. Consistent with the policies and procedures required by this Agreement, the Master Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee or the Insurer (for so long as it is the Controlling Party) shall reasonably request, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, hereby authorizes the Master Servicer, and the Master Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller hereby agrees to cause HAFI HAFC or any Affiliate of HAFI HAFC that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI HAFC or any Affiliate of HAFI HAFC that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title as a designation in its capacity as agent of the Trust for such limited purpose.

Appears in 1 contract

Samples: Master Sale and Servicing Agreement (Household Auto Receivables Corp)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust Purchaser as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, including but not limited to, to obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, registering and re-registering refiling of all security agreements, financing statements and continuation statements or instruments as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect or continue the perfection of such security interest on behalf of the Trust Purchaser, the Noteholders and the Insurer as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Purchaser, and the pledge thereof by the Purchaser to the Trustee is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustTrustee, each of the Trustee, the Noteholders, the Insurer and the Seller hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the Seller's designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title is in respect of the Seller's capacity as a designation in its capacity Servicer as agent of the Trust Trustee for such limited purposethe benefit of the Noteholders and the Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust Purchaser, the Administrative Agent, the Collateral Agent and the Lenders as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, including but not limited to, to obtaining the authorization or execution by the Obligors and the recording, registering, filing, re-recording, re-filing, registering and re-registering filing of all security agreements, financing statements and continuation statements or instruments as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Administrative Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect or continue the perfection of such security interest on behalf of the Trust Purchaser and Collateral Agent for the benefit of the Secured Parties as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Purchaser, and the pledge thereof by the Purchaser to the Collateral Agent for the benefit of the Secured Parties is insufficient, without a notation on the related Financed Vehicle’s certificate of titleLien Certificate, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustCollateral Agent for the benefit of the Secured Parties, each of the Administrative Agent and the Seller hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, Seller as the secured party on the certificate Lien Certificate is in respect of title the Seller’s capacity as a designation in its capacity Servicer and as agent of the Trust Collateral Agent for such limited purposethe benefit of the Secured Parties.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust Purchaser as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, including but not limited to, to obtaining the authorization or execution by the Obligors and the recording, registering, filing, re-recording, re-filing, registering and re-registering refiling of all security agreements, financing statements and continuation statements or instruments as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect or continue the perfection of such security interest on behalf of the Trust Purchaser and the Noteholder as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Purchaser, and the pledge thereof by the Purchaser to the Trustee is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustTrustee, each of the Trustee and the Seller hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the Seller's designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title is in respect of the Seller's capacity as a designation in its capacity Servicer as agent of the Trust Trustee for such limited purposethe benefit of the Noteholder.

Appears in 1 contract

Samples: Sale and Servicing (Consumer Portfolio Services Inc)

Maintenance of Security Interests in Vehicles. Consistent with the policies and procedures required by this Agreement, the Master Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee Trustee[ or the Insurer (for so long as it is the Controlling Party)] shall reasonably request, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, hereby authorizes the Master Servicer, and the Master Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Seller hereby agrees to cause HAFI HAFC or any Affiliate of HAFI HAFC that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the designation of HAFI HAFC or any Affiliate of HAFI HAFC that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title as a designation in its capacity as agent of the Trust for such limited purpose.

Appears in 1 contract

Samples: Master Sale and Servicing Agreement (Household Auto Receivables Corp)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust Purchaser as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestVehicle, including, including but not limited to, to obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, registering and re-registering refiling of all security agreements, financing statements and continuation statements or instruments as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect or continue the perfection of such security interest on behalf of the Trust Purchaser, the Noteholder and the Insurer as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Purchaser, and the pledge thereof by the Purchaser to the Trustee is insufficient, without a notation on the related Financed Vehicle’s 's certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustTrustee, each of the Trustee, the Noteholder, the Insurer and the Seller hereby agrees to cause HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the Seller's designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate of title is in respect of the Seller's capacity as a designation in its capacity Servicer as agent of the Trust Trustee for such limited purposethe benefit of the Noteholder and the Insurer.

Appears in 1 contract

Samples: Sale and Servicing (Consumer Portfolio Services Inc)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created in the name of the Contributor (or assigned to it by an Originating Affiliate) by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestTrustee, including, including but not limited to, to obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Indenture Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust Indenture Trustee as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Indenture Trustee is insufficient, insufficient without a notation on the related Financed Vehicle’s certificate Certificate of titleTitle, or without fulfilling any additional administrative requirements under the laws of the state State in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustIndenture Trustee, the Seller hereby agrees to cause HAFI parties hereto agree that the Contributor’s or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the an Originating Affiliate’s designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate Certificate of title Title is, with respect to each secured party, as a designation applicable, in its capacity as agent of the Trust Indenture Trustee. The Servicer shall provide copies of all such filings to the Indenture Trustee, the Agent and the Custodian. If the Backup Servicer is acting as successor Servicer, it shall be reimbursed pursuant to Section 5.03(b) of the Indenture for such limited purposeany costs incurred by it in performing its duties pursuant to this Section 6.04.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Maintenance of Security Interests in Vehicles. (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created in the name of the Contributor by each Receivable in the related Financed Vehicle on behalf of the Trust or as the Indenture Trustee shall reasonably requestTrustee, including, including but not limited to, to obtaining the execution by the Obligors and the recording, registering, filing, re-recordingrerecording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Owner Trustee, on behalf of the Trust, Indenture Trustee hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust Indenture Trustee as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust Indenture Trustee is insufficient, insufficient without a notation on the related Financed Vehicle’s certificate 's Certificate of titleTitle, or without fulfilling any additional administrative requirements under the laws of the state State in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the TrustIndenture Trustee, the Seller hereby agrees to cause HAFI or any Affiliate of HAFI parties hereto agree that is the seller under a Master Receivables Purchase Agreement, as applicable, to treat the Contributor's designation of HAFI or any Affiliate of HAFI that is the seller under a Master Receivables Purchase Agreement, as applicable, as the secured party on the certificate Certificate of title Title is, with respect to each secured party, as a designation applicable, in its capacity as agent of the Trust Indenture Trustee. The Servicer shall provide copies of all such filings to the Indenture Trustee, the Agent and the Custodian. If the Backup Servicer is acting as successor Servicer, it shall be reimbursed pursuant to Section 5.03(b) of the Indenture for such limited purposeany costs incurred by it in performing its duties pursuant to this Section 6.04.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Bay View Capital Corp)

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