Valid Pledge. It is the intention of the Issuer that each pledge herein contemplated constitutes the Grant of a perfected, first priority security interest in all Pledged Property to the Indenture Trustee for the benefit of the Series 1999-1 Noteholders.
Appears in 1 contract
Sources: Master Sale and Servicing Agreement (Household Auto Receivables Corp)
Valid Pledge. It is the intention of the Issuer that each pledge herein contemplated constitutes the Grant of a perfected, first priority security interest in all Pledged Property to the Indenture Trustee for the benefit of the Series 1999-1 _____ Noteholders.
Appears in 1 contract
Sources: Supplement to Indenture (Household Auto Receivables Corp)