Common use of No Other Business Clause in Contracts

No Other Business. The Issuing Entity shall not engage in any business other than financing, purchasing, owning, selling and managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and activities incidental thereto. After the Closing Date, the Issuing Entity shall not fund the purchase of any new Contracts.

Appears in 60 contracts

Samples: General Servicing Considerations (World Omni Auto Receivables Trust 2022-A), Indenture (World Omni Auto Receivables Trust 2022-D), Indenture (World Omni Auto Receivables Trust 2024-A)

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No Other Business. The Issuing Entity shall not engage in any business other than financing, purchasing, owning, selling and managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and activities incidental thereto. After the end of the Funding Period or, if there is no Funding Period, after the Closing Date, the Issuing Entity shall not fund the purchase of any new Contracts.

Appears in 29 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2015-A), Indenture (World Omni Auto Receivables Trust 2012-A), Indenture (World Omni Auto Receivables Trust 2014-A)

No Other Business. The Issuing Entity shall not engage in any business other than financing, purchasing, owning, selling and managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and activities incidental thereto. After the Closing Dateend of the Funding Period, the Issuing Entity shall not fund the purchase of any new Contracts.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2006-A), World Omni Auto Receivables LLC

No Other Business. The Issuing Entity shall not engage in any business other than financing, purchasing, owning, selling and managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and activities incidental thereto. After [the end of the [Funding Period][Revolving Period]][the Closing Date], the Issuing Entity shall not fund the purchase of any new Contracts.

Appears in 1 contract

Samples: Indenture (World Omni Auto Receivables LLC)

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No Other Business. The Issuing Entity shall not engage in any business other than financing, purchasing, owning, selling and managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and activities incidental thereto. After [the end of the [Funding Period][Revolving Period][the Closing Date], the Issuing Entity shall not fund the purchase of any new Contracts.

Appears in 1 contract

Samples: Indenture (World Omni Auto Receivables LLC)

No Other Business. The Issuing Entity shall not engage in any business other than financing, purchasing, owning, selling and managing the Receivables [and contributing or otherwise transferring Receivables to the Grantor Trust, in each case,] in the manner contemplated by this Indenture and the Basic Documents and activities incidental thereto. After [the end of the [Funding Period][Revolving Period]][the Closing Date], the Issuing Entity shall not fund the purchase of any new Contracts.

Appears in 1 contract

Samples: World Omni Auto Receivables LLC

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