Common use of Preservation of Collateral Clause in Contracts

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Agent and the Controlling Party in this Agreement, the Seller shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured Parties) the Collateral Agent to perform its obligations with respect to such Collateral as provided herein. The Seller will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling Party, to perfect the Security Interests granted hereunder in the Collateral, to ensure that such Security Interests rank prior to all other Liens and to preserve the priority of such Security Interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Agent for the benefit of the Secured Parties a valid first Lien on, and valid and perfected, first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or the Collateral Agent (including its agents) or otherwise in connection with such delivery.

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Agent and the Controlling Party in this Agreement, the Seller Trust shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such the Collateral and to cause (subject to the rights of the Secured Parties) the Collateral Agent to perform its obligations with respect to such the Collateral as provided herein. The Seller Trust will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling Party, to perfect the Security Interests granted hereunder in the Collateral, to ensure that such Security Interests rank prior to all other Liens and to preserve the priority of such Security Interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller Trust shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Agent for the benefit of the Secured Parties a valid first Lien on, and valid and perfected, first priority security interest in, the Collateral so delivered and to deliver such the Collateral to the Collateral Agent, free and clear of any other Lien, Lien together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or the Collateral Agent (including its respective agents) or otherwise in connection with such delivery.

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Agent and the Controlling Party in this Agreement, the Seller Transferor, on behalf of itself and as the agent of the Reversionary Holders, shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured Parties) the Collateral Agent to perform its obligations with respect to such Collateral as provided hereinCollateral. The Seller Transferor will do, execute, acknowledge and deliver, or cause to be donedone by the Reversionary Holders, or others, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling Party, to perfect the Security Interests granted hereunder in the Collateral, to ensure that such Security Interests rank prior to all other Liens and to preserve the priority of such Security Interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller Transferor, on behalf of itself and as the agent of the Reversionary Holders, shall be obligated to execute such documents and perform such actions (or cause the Reversionary Holders to so execute and perform) as are necessary to create in the Collateral Agent for the benefit of the Secured Parties a valid first priority Lien on, and valid and perfected, first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or the Collateral Agent (including its agents) or otherwise in connection with such delivery.

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Agent and the Controlling Secured Party in this Agreement, the Seller Trust Depositor shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured PartiesParty) the Collateral Agent to perform its obligations with respect to such Collateral as provided herein. The Seller Trust Depositor will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling Secured Party, to perfect the Security Interests granted hereunder in the Collateral, to ensure that such Security Interests rank prior to all other Liens and to preserve the priority of such Security Interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller Trust Depositor shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Agent for the benefit of the Secured Parties Party a valid first Lien on, and valid and perfected, first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties Party or the Collateral Agent (including its agents) or otherwise in connection with such delivery.

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Agent and the Controlling Party in this Security Agreement, the Seller Issuer shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured Parties) the Collateral Agent to perform its obligations with respect to such Collateral as provided herein. The Seller Issuer will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling Party, to perfect the Security Interests security interests granted hereunder in the Collateral, to ensure that such Security Interests security interests rank prior to all other Liens and to preserve the priority of such Security Interests security interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller Issuer shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Agent for the benefit of the Secured Parties a valid first Lien on, and valid and perfected, perfected first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or the Collateral Agent (including its agents) or otherwise in connection with such delivery.

Preservation of Collateral. Subject to the rights, powers and -------------------------- authorities granted to the Collateral Administrative Agent and the Controlling Party Secured Parties in this Agreement, the Seller Borrower shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured Parties) the Collateral Administrative Agent to perform its obligations with respect to such Collateral as provided herein. The Seller Borrower will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling PartyRequired Lending Groups, to perfect the Security Interests security interests granted hereunder in the Collateral, to ensure that such Security Interests security interests rank prior to all other Liens and to preserve the priority of such Security Interests security interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller Borrower shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Administrative Agent for the benefit of the Secured Parties a valid first Lien on, and valid and perfected, perfected first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Administrative Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or the Collateral Administrative Agent (including its agents) or otherwise in connection with such delivery. The Borrower will not take any action to cause the Collateral or any portion thereof to be an instrument (as such term is defined in the Relevant UCC).

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Administrative Agent and the Controlling Party Secured Parties in this Agreement, the Seller Borrower shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured Parties) the Collateral Administrative Agent to perform its obligations with respect to such Collateral as provided herein. The Seller Borrower will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling PartyRequired Lending Groups, to perfect the Security Interests security interests granted hereunder in the Collateral, to ensure that such Security Interests security interests rank prior to all other Liens and to preserve the priority of such Security Interests security interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller Borrower shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Administrative Agent for the benefit of the Secured Parties a valid first Lien on, and valid and perfected, perfected first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Administrative Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or the Collateral Administrative Agent (including its agents) or otherwise in connection with such delivery. The Borrower will not take any action to cause the Collateral or any portion thereof to be an instrument (as such term is defined in the Relevant UCC).

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Agent and the Controlling Secured Party in this Agreement, the Seller Company shall take such action as is necessary and proper with respect to the Collateral in order to preserve preserve, maintain and maintain service such Collateral and to cause permit (subject to the rights of the Secured PartiesParty) the Collateral Agent to perform its obligations with respect to such Collateral as provided herein. The Seller Company will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or reasonably required by the Controlling PartyTrustee, to perfect the Security Interests Interest granted hereunder in the Collateral, to ensure that such Security Interests Interest rank prior to all other Liens and to preserve the priority of such Security Interests Interest and the validity and enforceability thereof. Upon any a delivery or substitution of Collateral, the Seller shall be obligated Company shall, to execute such documents and perform the fullest extent possible, take such actions as are necessary and appropriate and that may be taken by the Company to create in the Collateral Agent for the benefit of the Secured Parties Collateral Agent a valid first Lien on, and valid and perfected, first priority security interest in, in the Collateral so delivered and to deliver such Collateral to the Collateral Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or Party, the Collateral Agent Agent, the Company (including its agents) or otherwise in connection with such delivery.

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Agent and the Controlling Party in this Agreement, the Seller Issuer shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured Parties) the Collateral Agent to perform its obligations with respect to such Collateral as provided hereinherein including, without limitation, filing UCC-1's on the Spread Account and investments therein. The Seller Issuer will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling Party, to perfect the Security Interests granted hereunder in the Collateral, to ensure that such Security Interests rank prior to all other Liens and to preserve the priority of such Security Interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller Issuer shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Agent for the benefit of the Secured Parties a valid first Lien on, and valid and perfected, first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or the Collateral Agent (including its agents) or otherwise in connection with such delivery.

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Agent and the Controlling Party Financial Security in this Agreement, the Seller shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured PartiesFinancial Security) the Collateral Agent to perform its obligations with respect to such Collateral as provided herein. The Seller will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling PartyFinancial Security, to perfect the Security Interests granted hereunder in the Collateral, to ensure that such Security Interests rank prior to all other Liens and to preserve the priority of such Security Interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Agent for the benefit of the Secured Parties Financial Security a valid first Lien on, and valid and perfected, first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Agent, free and clear of any other Lien, Lien together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties either Financial Security or the Collateral Agent (including its agents) or otherwise in connection with such delivery.

Preservation of Collateral. Subject to the rights, powers and -------------------------- authorities granted to the Collateral Administrative Agent and the Controlling Party Secured Parties in this Agreement, the Seller Borrower shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured Parties) the Collateral Administrative Agent to perform its obligations with respect to such Collateral as provided herein. The Seller Borrower will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling PartyRequired APA Banks, to perfect the Security Interests security interests granted hereunder in the Collateral, to ensure that such Security Interests security interests rank prior to all other Liens and to preserve the priority of such Security Interests security interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller Borrower shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Administrative Agent for the benefit of the Secured Parties a valid first Lien on, and valid and perfected, perfected first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Administrative Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or the Collateral Agent (including its their respective agents) or otherwise in connection with such delivery. The Borrower will not take any action to cause the Collateral or any portion thereof to be an instrument (as such term is defined in the Relevant UCC).

Preservation of Collateral. Subject to the rights, powers and authorities granted to the Collateral Agent and the Controlling Party in this Agreement, the Seller Transferor shall take such action as is necessary and proper with respect to the Collateral in order to preserve and maintain such Collateral and to cause (subject to the rights of the Secured Parties) the Collateral Agent to perform its obligations with respect to such Collateral as provided herein. The Seller Transferor will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required by the Controlling Party, to perfect the Security Interests granted hereunder in the Collateral, to ensure that such Security Interests rank prior to all other Liens and to preserve the priority of such Security Interests and the validity and enforceability thereof. Upon any delivery or substitution of Collateral, the Seller Transferor shall be obligated to execute such documents and perform such actions as are necessary to create in the Collateral Agent for the benefit of the Secured Parties a valid first Lien on, and valid and perfected, first priority security interest in, the Collateral so delivered and to deliver such Collateral to the Collateral Agent, free and clear of any other Lien, together with satisfactory assurances thereof, and to pay any reasonable costs incurred by any of the Secured Parties or the Collateral Agent (including its agents) or otherwise in connection with such delivery.