Common use of Representations and Warranties as to the Receivables Clause in Contracts

Representations and Warranties as to the Receivables. Pursuant to Section 2.01(a)(v), the Depositor assigns to the Issuing Entity all of its right, title and interest in, to and under the Pooling and Servicing Agreement. Such assigned right, title and interest includes the benefit of representations and warranties of the Seller made to the Depositor pursuant to Section 4.01 of the Pooling and Servicing Agreement. The Depositor hereby represents and warrants to the Issuing Entity that the Depositor has taken no action which would cause such representations and warranties of the Seller to be false in any material respect as of the Initial Closing Date with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables. The Depositor further acknowledges that the Issuing Entity and its permitted assignees rely on the representations and warranties of the Depositor under this Agreement and of the Seller under the Pooling and Servicing Agreement in accepting the Receivables in trust and executing and delivering the Notes and the Certificates. The foregoing representation and warranty speaks as of the Initial Closing Date with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables, but shall survive the sale, transfer and assignment of the Receivables to the Issuing Entity and the pledge thereof to the Indenture Trustee pursuant to the Indenture.

Appears in 22 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2013-3), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2014-1), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-4)

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Representations and Warranties as to the Receivables. Pursuant to Section 2.01(a)(v), the Depositor assigns to the Issuing Entity all of its right, title and interest in, to and under the Pooling and Servicing Agreement. Such assigned right, title and interest includes the benefit of the representations and warranties of the Seller made to the Depositor pursuant to Section 4.01 Sections 3.01 or 3.02 of the Pooling and Servicing Agreement. The Depositor hereby represents and warrants to the Issuing Entity that the Depositor has taken no action which would cause such representations and warranties of the Seller to be false in any material respect as of the Initial [Initial] Closing Date [with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables]. The Depositor further acknowledges that the Issuing Entity and its permitted assignees rely on the representations and warranties of the Depositor under this Agreement and of the Seller under the Pooling and Servicing Agreement in accepting the Receivables in trust and executing and delivering the Notes and the Certificates. The foregoing representation and warranty speaks as of the Initial [Initial] Closing Date [with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables], but shall survive the sale, transfer and assignment of the Receivables to the Issuing Entity and the pledge thereof to the Indenture Trustee pursuant to the Indenture.

Appears in 4 contracts

Samples: Trust Sale Agreement (Ally Auto Assets LLC), Trust Sale Agreement (Ally Auto Assets LLC), Trust Sale Agreement (Ally Auto Assets LLC)

Representations and Warranties as to the Receivables. Pursuant to Section 2.01(a)(v), the Depositor assigns to the Issuing Entity all of its right, title and interest in, to and under the Pooling and Servicing Agreement. Such assigned right, title and interest includes the benefit of representations and warranties of the Seller made to the Depositor pursuant to Section 4.01 of the Pooling and Servicing Agreement. The Depositor hereby represents and warrants to the Issuing Entity that the Depositor has taken no action which would cause such representations and warranties of the Seller to be false in any material respect as of the Initial [Initial] Closing Date [with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables]. The Depositor further acknowledges that the Issuing Entity and its permitted assignees rely on the representations and warranties of the Depositor under this Agreement and of the Seller under the Pooling and Servicing Agreement in accepting the Receivables in trust and executing and delivering the Notes and the Certificates. The foregoing representation and warranty speaks as of the Initial [Initial] Closing Date [with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables], but shall survive the sale, transfer and assignment of the Receivables to the Issuing Entity and the pledge thereof to the Indenture Trustee pursuant to the Indenture.

Appears in 3 contracts

Samples: Trust Sale and Servicing Agreement (Ally Auto Assets LLC), Trust Sale and Servicing Agreement (Capital Auto Receivables LLC), Trust Sale and Servicing Agreement (Capital Auto Receivables LLC)

Representations and Warranties as to the Receivables. Pursuant to Section 2.01(a)(v), the Depositor assigns to the Issuing Entity all of its right, title and interest in, to and under the Pooling and Servicing Agreement. Such assigned right, title and interest includes the benefit of representations and warranties of the Seller made to the Depositor pursuant to Section 4.01 or 4.02 of the Pooling and Servicing Agreement. The Depositor hereby represents and warrants to the Issuing Entity that the Depositor has taken no action which would cause such representations and warranties of the Seller to be false in any material respect as of the Initial [Initial] Closing Date [with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables]. The Depositor further acknowledges that the Issuing Entity and its permitted assignees rely on the representations and warranties of the Depositor under this Agreement and of the Seller under the Pooling and Servicing Agreement in accepting the Receivables in trust and executing and delivering the Notes and the Certificates. The foregoing representation and warranty speaks as of the Initial [Initial] Closing Date [with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables], but shall survive the sale, transfer and assignment of the Receivables to the Issuing Entity and the pledge thereof to the Indenture Trustee pursuant to the Indenture.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables LLC), Trust Sale and Servicing Agreement (Capital Auto Receivables LLC)

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Representations and Warranties as to the Receivables. Pursuant to Section 2.01(a)(v), the Depositor assigns to the Issuing Entity all of its right, title and interest in, to and under the Pooling and Servicing Agreement. Such assigned right, title and interest includes the benefit of the representations and warranties of the Seller made to the Depositor pursuant to Section 4.01 3.01 of the Pooling and Servicing Agreement. The Depositor hereby represents and warrants to the Issuing Entity that the Depositor has taken no action which would cause such representations and warranties of the Seller to be false in any material respect as of the Initial [Initial] Closing Date [with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables]. The Depositor further acknowledges that the Issuing Entity and its permitted assignees rely on the representations and warranties of the Depositor under this Agreement and of the Seller under the Pooling and Servicing Agreement in accepting the Receivables in trust and executing and delivering the Notes and the Certificates. The foregoing representation and warranty speaks as of the Initial [Initial] Closing Date [with respect to the Initial Receivables, and as of the related Subsequent Closing Date, with respect to the Additional Receivables], but shall survive the sale, transfer and assignment of the Receivables to the Issuing Entity and the pledge thereof to the Indenture Trustee pursuant to the Indenture.

Appears in 1 contract

Samples: Trust Sale Agreement (Ally Auto Assets LLC)

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