Valid Transfer of Contracts. The WFS Assignments constitute a valid sale, transfer and assignment of the Contracts to the Company, enforceable against creditors of and purchasers from WFS, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors' rights generally and (ii) general principles of equity, regardless of whether such enforceability shall be considered in a proceeding in equity or at law.
Appears in 15 contracts
Samples: Indemnity and Pledge Agreement (WFS Financial 1997-D Owner Trust), Insurance, Indemnity and Pledge Agreement (WFS Financial Auto Loans Inc), Indemnity and Pledge Agreement (WFS Financial 1997-a Owners Trust)
Valid Transfer of Contracts. The WFS Assignments constitute a valid sale, transfer and assignment of the Contracts to the CompanyWFSRC, enforceable against creditors of and purchasers from WFS, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors' rights generally and (ii) general principles of equity, regardless of whether such enforceability shall be considered in a proceeding in equity or at law.
Appears in 2 contracts
Samples: Indemnity and Pledge Agreement (WFS Receivables Corp), Insurance, Indemnity and Pledge Agreement (WFS Receivables Corp)
Valid Transfer of Contracts. The WFS Assignments constitute a valid sale, transfer and assignment of the Contracts to the CompanyWFSRC2, enforceable against creditors of and purchasers from WFS, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors' rights generally and (ii) general principles of equity, regardless of whether such enforceability shall be considered in a proceeding in equity or at law.
Appears in 1 contract
Samples: Insurance, Indemnity and Pledge Agreement (WFS Receivables Corp 2)
