Recording of Indenture. If this Indenture is subject to recording in any appropriate public recording offices, such recording is to be effected by the Issuer and at its expense accompanied by an Opinion of Counsel (which may be counsel to the Indenture Trustee or any other counsel reasonably acceptable to the Indenture Trustee) to the effect that such recording is necessary either for the protection of the Noteholders or any other Person secured hereunder or for the enforcement of any right or remedy granted to the Indenture Trustee under this Indenture.
Recording of Indenture. 55 SECTION 11.16.
Recording of Indenture. This Indenture is subject to recording in any appropriate public recording offices, such recording to be effected by the Issuer and at its expense in compliance with any Opinion of Counsel delivered pursuant to Section 2.11(c) or 3.06.
Recording of Indenture. This Indenture is a Security Agreement under the UCC. If this Indenture is subject to recording in any appropriate public recording offices, the recording is to be effected by the Issuer but only at the request and expense of Noteholders accompanied by an Opinion of Counsel (which may be counsel to the Indenture Trustee or any other counsel reasonably acceptable to the Indenture Trustee) to the effect that the recording materially and beneficially affects the interests of the Noteholders or any other person secured under this Indenture or the enforcement of any right granted to the Indenture Trustee under this Indenture.
Recording of Indenture. 55 Section 11.16 Trust Obligations.............................................55 Section 11.17
Recording of Indenture. SECTION 11.15.
Recording of Indenture. If the Indenture is subject to recording in any appropriate public recording offices, such recording is to be effected by the Issuer and at its expense.
Recording of Indenture. If this Indenture is subject to recording in any appropriate public recording offices, such recording is to be effected by the Issuer and at its expense accompanied by an Opinion of Counsel (which may be counsel to the Indenture Trustee or any other counsel reasonably acceptable to the Indenture Trustee; provided, however, that the expense of such Opinion of Counsel shall in no event be an expense of the Indenture Trustee) to the effect that such recording is necessary either for the protection of the Noteholders or any other Person secured hereunder or for the enforcement of any right or remedy granted to the Indenture Trustee under this Indenture.
Recording of Indenture. 61 Section 11.15. Trust Obligation......................................................................61 Section 11.16. No Petition...........................................................................61 Section 11.17. Inspection............................................................................61 Section 11.18. Conflict with Trust Indenture Act.....................................................62 Section 11.19.
Recording of Indenture. 61 SECTION 11.15. Trust Obligation...................................................................... 61 SECTION 11.16. No Petition........................................................................... 62 SECTION 11.17. Inspection............................................................................ 62 SECTION 11.18. Maximum Interest Payable.............................................................. 62 SECTION 11.19. No Legal Title in Holders............................................................. 63 SECTION 11.20. Third Party Beneficiary............................................................... 63 SECTION 11.21. Class A Insurer Control Rights........................................................ 63 EXHIBIT Exhibit A Form of Class A Note SCHEDULE Schedule A Perfection Representations, Warranties and Covenants INDENTURE dated as of June 27, 2003, between CREDIT ACCEPTANCE AUTO DEALER LOAN TRUST 2003-1, a Delaware statutory trust (the "Issuer"), and JPMORGAN CHASE BANK, a New York banking corporation, as trust collateral agent (the "Trust Collateral Agent") and as indenture trustee (the "Indenture Trustee"). Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Issuer's $100,000,000 Class A 2.77% Asset Backed Notes (the "Class A Notes"), and the Class A Insurer: GRANTING CLAUSE The Issuer hereby grants to the Indenture Trustee for the benefit of itself and the Class A Insurer and the Class A Noteholders, as their respective interests may appear, a first-priority perfected security interest in all property of the Issuer, including all of the Issuer's right, title and interest in and to the following collateral (the "Collateral") now owned or hereafter acquired, which Collateral shall be held by the Trust Collateral Agent on behalf of the Indenture Trustee, subject to the lien of this Indenture:
