Common use of Ordinary Course of Business Clause in Contracts

Ordinary Course of Business. The Issuer may, without furnishing any Officer’s Certificates or Independent Certificates under Section 11.3(c), (i) collect, liquidate, sell or dispose of Receivables and Financed Vehicles in the ordinary course of its business, so long as Collections, Liquidation Proceeds, Recoveries and other proceeds of the dispositions are applied according to this Indenture and (ii) make cash payments out of the Bank Accounts, in each case, as and if permitted or required by the Transaction Documents.

Appears in 41 contracts

Samples: Indenture (Ford Credit Auto Owner Trust 2023-B), Indenture (Ford Credit Auto Owner Trust 2023-B), Indenture (Ford Credit Auto Owner Trust 2022-A)

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Ordinary Course of Business. The Issuer may, without furnishing any Officer’s Certificates or Independent Certificates under this Section 11.3(c)11.3, (i) collect, liquidate, sell or dispose of Receivables and Financed Vehicles in the ordinary course of its business, so long as Collections, Liquidation Proceeds, Recoveries Collections and other proceeds of the dispositions are applied according to this Indenture and (ii) make cash payments out of the Bank Accounts, in each case, as and if permitted or required by the Transaction Documents.

Appears in 23 contracts

Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2020-B), Transfer and Servicing Agreement (Verizon Owner Trust 2020-C), Transfer and Servicing Agreement (Verizon Owner Trust 2020-A)

Ordinary Course of Business. The Issuer may, without furnishing any Officer’s 's Certificates or Independent Certificates under Section 11.3(c), (i) collect, liquidate, sell or dispose of Receivables and Financed Vehicles in the ordinary course of its business, so long as Collections, Liquidation Proceeds, Recoveries and other proceeds of the dispositions are applied according to this Indenture and (ii) make cash payments out of the Bank Accounts, in each case, as and if permitted or required by the Transaction Documents.

Appears in 10 contracts

Samples: Indenture (Ford Credit Auto Owner Trust 2024-A), Indenture (Ford Credit Auto Owner Trust 2023-C), Indenture (Ford Credit Auto Owner Trust 2023-C)

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Ordinary Course of Business. The Issuer may, without furnishing any Officer’s Certificates or Independent Certificates under compliance with the requirements of the other provisions of this Section 11.3(c)11.4, (i) collect, liquidate, sell or dispose of Receivables and Financed Vehicles in the ordinary course of its business, so long as Collections, Liquidation Proceeds, Recoveries and other proceeds of the dispositions are applied according to this Indenture and (ii) make cash payments out of the Bank Accounts, in each case, as and if permitted or required by the Transaction Documents.

Appears in 1 contract

Samples: Indenture (Ford Credit Auto Receivables Two LLC)

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