Characteristics of Purchaser Assets. Each Purchaser Asset: (A) was either originated in the United States of America by GE Capital in connection with the financing of Equipment in the ordinary course of business of GE Capital or acquired by GE Capital in the ordinary course of its business, and, in each case, was fully and 700148757 06142559 properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any loan that is cross-collateralized with such Purchaser Asset) in the Equipment in favor of GE Capital that, as of the Closing Date, has been assigned by GE Capital to Seller, and by Seller to Purchaser and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
Characteristics of Purchaser Assets. Each Purchaser Asset: (A) was either originated in the United States of America by GE Capital, GECITS, VFS, IFS or NMHG, as applicable in connection with the financing or lease of Equipment in the ordinary course of business of GE Capital, GECITS, VFS, IFS or NMHG, as applicable or acquired by GE Capital, GECITS, VFS, IFS or NMHG, as applicable in the ordinary course of its business, and, in each case, was fully and properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any receivable that is cross-collateralized with such Purchaser Asset) in the Equipment in favor of GE Capital, GECITS, VFS, IFS or NMHG, as applicable, that, as of the Closing Date, has been assigned by GE Capital, GECITS, VFS, IFS or NMHG, as applicable, to Seller, and by Seller to Purchaser and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
Characteristics of Purchaser Assets. Each Purchaser Asset: (A) was originated in the United States of America by GE Capital in connection with the financing of Equipment in the ordinary course of business of GE Capital and was fully and properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any receivable that is cross-collateralized with such Purchaser Asset) in the Equipment in favor of GE Capital that, as of the Closing Date, has been assigned by GE Capital to Seller, and by Annex A to Loan Purchase and Sale Agreement Seller to Purchaser and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
Characteristics of Purchaser Assets. Each Purchaser Asset: (A) was either originated in the United States of America by GE Capital, GECITS, VFS or IFS, as applicable in connection with the financing or lease of Equipment in the ordinary course of business of GE Capital, GECITS, VFS or IFS, as applicable or acquired by GE Capital, GECITS, VFS or IFS, as applicable in the ordinary course of its business, and, in each case, was fully and properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any loan that is cross-collateralized with such Purchaser Asset) in the Equipment in favor of GE Capital, GECITS, VFS or IFS, as applicable, that, as of the Closing Date, has been assigned by GE Capital, GECITS, VFS or IFS, as applicable, to Seller, and by Seller to Purchaser and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
Characteristics of Purchaser Assets. Each Purchaser Asset: (A) was either originated in the United States of America by the Originator in connection with the financing or lease of Equipment in the ordinary course of the Originator's business or acquired by the Originator in the ordinary course of the Originator's business, and, in each case, was fully and properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any loan that is cross-collateralized with such Purchaser Asset) in the Equipment in favor of the Originator that, as of the Closing Date, has been assigned by the Originator to Seller, and by Seller to Purchaser and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
Characteristics of Purchaser Assets. Each Purchaser Asset: (A) was either originated in the United States of America by GE Capital, [•], [•] or [•], as applicable in connection with the financing or lease of Equipment in the ordinary course of business of GE Capital, [•], [•] or [•], as applicable or acquired by GE Capital, [•], [•] or [•], as applicable in the ordinary course of its business, and, in each case, was fully and properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any [loan] [receivable] that is cross-collateralized with such Purchaser Asset) in the Equipment in favor of GE Capital, [•], [•] or [•], as applicable, that, as of the Closing Date, has been assigned by GE Capital, [•], [•] or [•], as applicable, to Seller, and by Seller to Purchaser and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
Characteristics of Purchaser Assets. Each Purchaser Asset: (A) was either originated in the United States of America by GE Capital in connection with the financing or lease of Equipment in the ordinary course of GE Capital’s business or acquired by GE Capital in the ordinary course of its business, and, in each case, was fully and properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any loan that is cross-collateralized with such Purchaser Asset) in the Equipment in favor of GE Capital or GECT, as applicable, that, as of the Closing Date, has been assigned by GE Capital or GECT, as applicable, to Seller, and by Seller to Purchaser and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
Characteristics of Purchaser Assets. Each Purchaser Asset: (A) was either originated in the United States of America by GE Capital, GECITS or VFS, as applicable in connection with the financing or lease of Equipment in the ordinary course of business of GE Capital, GECITS or VFS, as applicable or acquired by GE Capital, GECITS or VFS, as applicable in the ordinary course of its business, and, in each case, was fully and properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any loan that is cross-collateralized with such Purchaser Asset) in the Equipment in favor of GE Capital, GECITS or VFS, as applicable, that, as of the Closing Date, has been assigned by GE Capital, GECITS or VFS, as applicable, to Seller, and by Seller to Purchaser and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
