Common use of Transferor Certificate Clause in Contracts

Transferor Certificate. Prior to each date as of which Contracts and the Equipment subject to such Contracts are to be reacquired by the Originator pursuant to the Indenture, the Transferors shall submit to the Originator a certificate signed by the president, executive vice president, any vice president or the treasurer of the Manager of each of the Transferors (a "Transferors Certificate") and completed as to its date and the date of this Agreement. Each Transferors Certificate shall operate as an assignment, without recourse, representation, or warranty, to the Originator of all of the Transferors' respective right, title and interests in and to such Contracts and Equipment, and all security and documents relating thereto, such assignment being an assignment outright and not for security; and upon payment of the Reacquisition Amount, the Originator will thereupon own such Contract, such interest in the related Equipment and all such security and documents, free of any further obligation to the Transferors with respect thereto. If in any enforcement suit or legal proceeding it is held that the Servicer may not enforce a Contract on the ground that it is not a real party-in-interest or holder entitled to enforce the Contract, the Transferors shall, at the Servicer's expense, take such steps as the Servicer deems necessary to enforce the Contract, including bringing suit in a Transferor's name.

Transferor Certificate. Prior to each date as of which Contracts and the Equipment [___________] subject to such Contracts are to be reacquired by the Originator pursuant to the Indenture, the Transferors shall submit to the Originator a certificate signed by the president, executive vice president, any vice president or the treasurer of the Manager of each of the Transferors (a "Transferors Certificate") and completed as to its date and the date of this Agreement. Each Transferors Certificate shall operate as an assignment, without recourse, representation, or warranty, to the Originator of all of the Transferors' respective right, title and interests in and to such Contracts and Equipment[___________], and all security and documents relating thereto, such assignment being an assignment outright and not for security; and upon payment of the Reacquisition Amount, the Originator will thereupon own such Contract, such interest in the related Equipment [___________] and all such security and documents, free of any further obligation to the Transferors with respect thereto. If in any enforcement suit or legal proceeding it is held that the Servicer may not enforce a Contract on the ground that it is not a real party-in-interest or holder entitled to enforce the Contract, the Transferors shall, at the Servicer's expense, take such steps as the Servicer deems necessary to enforce the Contract, including bringing suit in a Transferor's name.