Notation of Security Interest. With respect to each Contract other than a Land-and-Home Contract, if the related Manufactured Home is located in a state in which notation of a security interest on the title document is required or permitted to perfect such security interest, the title document shows, or if a new or replacement title document with respect to such Manufactured Home is being applied for such title document will be issued within 180 days and will show, the Company as the holder of a first priority security interest in such Manufactured Home; if the related Manufactured Home is located in a state in which the filing of a financing statement under the UCC is required to perfect a security interest in manufactured housing, such filings or recordings have been duly made and show the Company as secured party. If the related Manufactured Home secures a Land-and-Home Contract, such Manufactured Home is subject to a Mortgage properly filed in the appropriate public recording office or such Mortgage will be properly filed in the appropriate public recording office within 180 days, naming the Company as mortgagee. In either case, the Trustee has the same rights as the secured party of record would have (if such secured party were still the owner of the Contract) against all Persons (including the Company and any trustee in bankruptcy of the Company) claiming an interest in such Manufactured Home.
Notation of Security Interest. With respect to each Contract other than a Land-and-Home Contract, if the related Manufactured Home is located in a state in which notation of a security interest on the title document is required or permitted to perfect such security interest, the title document shows, or if a new or replacement title document with respect to such Manufactured Home is being applied for such title document will be issued within 180 days and will show, the Originator or its assignee as the holder of a first priority security interest in such Manufactured Home; if the related Manufactured Home is located in a state in which the filing of a financing statement under the UCC is required to perfect a security interest in manufactured housing, such filings or recordings have been duly made and show the Originator or its assignee as secured party. If the related Manufactured Home secures a Land-and-Home Contract, such Manufactured Home is subject to a Mortgage properly filed in the appropriate public recording office or such Mortgage will be properly filed in the appropriate public recording office within 180 days, naming the Originator as mortgagee. In either case, the Indenture Trustee has the same rights as the secured party of record would have (if such secured party were still the owner of the Contract) against all Persons (including the Seller and any trustee in bankruptcy of the Seller) claiming an interest in such Manufactured Home.
Notation of Security Interest. With respect to each Contract other than a Land Home Contract, if the related Manufactured Home is located in a state in which notation of a security interest on the title document is required or permitted to perfect such security interest, the title document shows, or, if a new or replacement title document with respect to such Manufactured Home is being applied for, such title document will be issued within 180 days and will show, GreenPoint or BankAmerica Housing Services as the holder of a first-priority security interest in such Manufactured Home. If the related Manufactured Home is located in a state in which the filing of a financing statement or the making of a fixture filing under the UCC is required to perfect a security interest in manufactured housing, such filings have been duly made and show GreenPoint or BankAmerica Housing Services as the secured party. If the related Manufactured Home secures a Land Home Contract, such Manufactured Home and the related Mortgaged Property is subject to a Mortgage properly filed in the appropriate public recording office or such Mortgage will be properly filed in the appropriate public recording office within 180 days, naming GreenPoint as mortgagee. In either case, the Trustee has the same rights as the secured party of record would have (if such secured party were still the owner of the Contract) against all Persons (including the Contract Seller and any trustee in bankruptcy of GreenPoint or BankAmerica Housing Services) claiming an interest in such Manufactured Home. Assuming consummation of the transactions contemplated herein the Trustee has the same rights as the secured party of record would have (if such secured party were still the owner of the Contract) against all Persons claiming an interest in such Manufactured Home and, if applicable, such Mortgaged Property.
Notation of Security Interest. If the related Manufactured Home is located in a state in which notation of a security interest on the title document is required or permitted to perfect such security interest, the title document shows, or if a new or replacement title document with respect to such Manufactured Home is being applied for such title document will be issued within 180 days and will show, the Company or the related Originator as the holder of a first priority security interest in such Manufactured Home. If the related Manufactured Home is located in a state in which the filing of a financing statement or the making of a fixture filing under the UCC is required to perfect a security interest in manufactured housing, such filings or recordings have been duly made and show the Company as secured party. If the related Manufactured Home secures a Land-and-Home Contract, the related land securing such Land-and-Home Contract is subject to a Mortgage properly filed in the appropriate public recording office and naming the Company as mortgagee. In each such case, the Trustee has the same rights as the secured party of record would have (if such secured party were still the owner of the Contract) against all Persons claiming an interest in such Manufactured Home.
Notation of Security Interest. If requested by Bank, Debtor will ----------------------------- xxxx its records concerning Equipment, Accounts, General Intangibles and other Collateral in a manner satisfactory to Bank to show the latter's security interest therein; and, if a Potential Default or an Event of Default shall have occurred and be continuing uncured and unwaived, shall, at Bank's request notify all purchasers, warehouses, warehousemen, agents, landlords, processors, or others in possession of Equipment, of Bank's security interest in the Collateral, and instruct them to hold Collateral for Bank's account and subject to Bank's instructions.
Notation of Security Interest. The Company and the Secured Parties are entering into this Agreement to perfect, and confirm the first priority lien of, the Secured Parties’ security interest in the Pledged Collateral.
Notation of Security Interest. If the related Manufactured Home is located in a state in which notation of a security interest on the Lien Certificate is required or permitted to perfect such security interest, the Lien Certificate shows, or if a new or 110 replacement Lien Certificate with respect to such Manufactured Home is being applied for, such Lien Certificate will be issued within 180 days of the date of the origination of the related Floorplan Loan and will show Seller as the holder of a first priority security interest in such Manufactured Home. With respect to a Floorplan Loan for which the Lien Certificate has not yet been returned from the Registrar of Titles, the applicable Seller has received written evidence satisfactory to the Buyer that such Lien Certificate showing the applicable Seller as first lienholder has been applied for. If the related Manufactured Home is located in a state in which the filing of a financing statement under the UCC is required to perfect a security interest in a Manufactured Home, such filings or recordings have been duly made and show the applicable Seller as secured party. Immediately after the assignment of the security interest in the Manufactured Home to the Buyer, such Floorplan Loan will be secured by an enforceable and (subject to the last sentence of this paragraph) perfected first priority security interest in the Manufactured Home, in favor of the Buyer, as secured party, which security interest is prior to all Liens upon such Manufactured Home which now exist or may hereafter arise or be created (except as to priority, for any Lien for taxes, labor or materials affecting a Manufactured Home). Where, in accordance with prevailing custom in a state and the manufactured home financing industry, Buyer does not complete all filings and/or recordings necessary to finally and unconditionally perfect of record its Lien on the Manufactured Home and/or Floorplan Loan, the Facility Documents unconditionally delivered by the applicable Seller to Buyer or the Custodian are legally sufficient, and empower and authorize Buyer, to complete all such actions, steps and procedures to fully perfect that security interest and/or transfer at any time, or from time-to-time, without further notice to, consent by or participation of the applicable Seller, and the applicable Seller is bound by the Agreement to take all actions required by Buyer, and to pay for all costs and expenses incurred by Buyer, in connection therewith.
Notation of Security Interest. If the related Manufactured Home is located in a state in which notation of a security interest on the title document is required or permitted to perfect such security interest, the title document shows, or, if a new or replacement title document with respect to such Manufactured Home is being applied for, such title document will be issued within 180 days and will show, such Transferor as the holder of a security interest in such Manufactured Home. If the related Manufactured Home is located in a state in which the filing of a financing statement or the making of a fixture filing under the UCC is required to perfect a security interest in manufactured housing, such filings have been duly made and show the Transferor as secured party. In each case, the Trust and the Trustee have the same rights as the secured party of record would have (if such secured party were still the owner of the Manufactured Home Loan) against all Persons claiming an interest in such Manufactured Home.
Notation of Security Interest. With respect to each Contract, if the related Product is located in a state in which notation of a security interest on the title document is required or permitted to perfect such security interest, the title document shows, or if a new or replacement title document with respect to such Product is being applied for such title document will be issued within 180 days and will show, the Originator as the holder of a first priority security interest in such Product; if the related Product is located in a state in which the filing of a financing statement under the UCC is required to perfect a security interest in goods of the type including the Product, such filings or recordings have been duly made and show the Originator as secured party. In any case, the Trust has the same rights as the secured party of record would have (if such secured party were still the owner of the Contract) against all Persons (including the Originator and any trustee in bankruptcy of the Originator) claiming an interest in such Product.
Notation of Security Interest. With respect to the Loans where the underlying collateral, such as manufactured homes or consumer products, is located in a state in which notation of a security interest on the title document is required or permitted to perfect such security interest, the title document shows, or if a new or replacement title document with respect to such collateral is being applied for, then such title document will be issued within 180 days and will show a Seller as the holder of a first priority security interest in such collateral. If the collateral is located in a state in which the filing of a financing statement under the UCC is required to perfect a security interest in goods of the type of such collateral, such filings or recording have been duly made and show a Seller as a secured party.
