Common use of Creation of Security Interest Clause in Contracts

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Property in favor of the Issuer for the benefit of the Securityholders, which security interest is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Property in favor of the Issuer for the benefit of the SecurityholdersSecurityholders and the Note Insurer, which security interest is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Transferred Property in favor of the Issuer for the benefit of the SecurityholdersIssuer, which security interest is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Receivables and the Other Conveyed Property in favor of the Issuer for the benefit of the SecurityholdersPurchaser, which security interest is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Property Estate in favor of the Issuer Purchaser for the benefit of the SecurityholdersNoteholder and the Insurer, which security interest is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Related Receivables and the Other Conveyed Property in favor of the Issuer for the benefit of the SecurityholdersPurchaser, which security interest is prior to all other Liens (other than Permitted Liens) and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCCUCC Section 1-201) in the Trust Property Receivables in favor of the Issuer for the benefit of the SecurityholdersIssuer, which security interest is prior to all other Liens (other than the security interest in favor of the Trustee (for the benefit of the Issuer Secured Parties) under the Indenture), and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Property in favor of the Issuer for the benefit of the SecurityholdersNoteholders and the Note Insurer, which security interest is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and ----------------------------- continuing security interest (as defined in the UCCUCC Section 1-201) in the Trust Property Receivables in favor of the Issuer for the benefit of the SecurityholdersIssuer, which security interest is prior to all other Liens (other than the security interest in favor of the Trustee (for the benefit of the Issuer Secured Parties) under the Indenture), and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Property Receivables and the other Assets in favor of the Issuer for the benefit of the SecurityholdersBuyer, which security interest in the Receivables is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the SellerOriginator.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Receivables and the Other Conveyed Property in favor of the Issuer for the benefit of the SecurityholdersPurchaser, which security interest is interest, when perfected, will be prior to all other Liens (other than the Liens of the Collateral Agent under the Security Agreement) and is be enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Property Collateral in favor of the Issuer for the benefit of the SecurityholdersLender, which security interest is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the SellerBorrower.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Property Sold Assets in favor of the Issuer for the benefit of the SecurityholdersPurchaser, which security interest is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the Seller/Servicer.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Related Receivables and the Other Conveyed Property in favor of the Issuer for the benefit of the SecurityholdersPurchaser, which security interest is prior to all other Liens (other than Permitted Liens) and is enforceable as such as against creditors of and purchasers from the Seller.

Creation of Security Interest. This Agreement creates a valid and ----------------------------- continuing security interest (as defined in the UCCUCC Section 1-201) in the Trust Property Receivables in favor of the Issuer for the benefit of the SecurityholdersPurchaser, which security interest is prior to all other Liens Liens, and is enforceable as such as against creditors of and purchasers from the SellerOriginator.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCCUCC Section 1-201) in the Trust Property Receivables in favor of the Issuer for the benefit of the SecurityholdersPurchaser, which security interest is prior to all other Liens Liens, and is enforceable as such as against creditors of and purchasers from the SellerOriginator.

Creation of Security Interest. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Trust Receivables and the Other Conveyed Property in favor of the Issuer for the benefit of the SecurityholdersPurchaser, which security interest is prior to all other Liens (other than the Liens of the Collateral Agent under the Security Agreement) and is enforceable as such as against creditors of and purchasers from Seller. The Security Agreement creates a valid and continuing security interest (as defined in the SellerUCC) in the Collateral in favor of the Collateral Agent for the benefit of the Secured Parties, which security interest is prior to all other Liens.