WOAR definition
Examples of WOAR in a sentence
World Omni shall deliver such other documents as WOAR may reasonably request.
It is the intention of World Omni and WOAR that the assignment and transfer contemplated herein and by the RPA Assignment shall constitute (and shall be construed and treated for all purposes, other than for tax purposes, as) a true and complete sale of the Receivables identified in the RPA Assignment and other property specified in Section 2.01 hereof, conveying good title thereto free and clear of any liens and encumbrances, from World Omni to WOAR.
WOAR has been duly organized and is validly existing as a limited liability company in good standing under the laws of the State of Delaware, with the power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and has, the power, authority and legal right to acquire and own the Receivables.
World Omni shall not change its name, identity or corporate structure in any manner that could reasonably be expected to make any financing statement or continuation statement filed in accordance with paragraph (a) above seriously misleading within the meaning of Section 9-506 of the UCC, unless it shall have given WOAR at least five days’ prior written notice thereof and shall have promptly filed appropriate amendments to all previously filed financing statements or continuation statements.
Capitalized terms used but not otherwise defined in this Agreement shall have the respective meanings assigned them in Part I of Appendix A to the Sale and Servicing Agreement, dated as of the date hereof (the “Sale and Servicing Agreement”), among the Trust, as Issuing Entity, WOAR, as Depositor, World Omni, as Servicer, and The Bank of New York Mellon Trust Company, N.A., as account bank, as it may be amended, supplemented or modified from time to time.
World Omni shall pay all expenses incident to the performance of its obligations under this Agreement and all reasonable and documented out-of-pocket costs and expenses of WOAR, excluding fees and expenses of counsel, in connection with the perfection as against third parties of WOAR’s right, title and interest in and to the Receivables and the enforcement of any obligation of World Omni hereunder.
If at any time World Omni shall propose to sell, grant a security interest in, or otherwise transfer any interest in any Contract to any prospective purchaser, lender or other transferee, World Omni shall give to such prospective purchaser, lender or other transferee computer tapes, records or printouts (including any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold to and is owned by WOAR.
World Omni and WOAR wish to set forth the terms pursuant to which World Omni will sell the Receivables to WOAR.
The respective agreements, representations, warranties and other statements by World Omni and WOAR set forth in or made pursuant to this Agreement or the RPA Assignment shall remain in full force and effect and will survive the sales and assignments referred to in Section 6.04.
World Omni will cooperate with WOAR and independent public accountants engaged by WOAR in making available all information and taking all steps reasonably necessary to permit such independent accountants to complete any review required to deliver any negative assurance or similar letter required to be delivered by it in connection with the Basic Documents.