Security Interest in Financed Vehicle. Immediately prior to the sale, assignment and transfer thereof to the Issuer, such Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of NMAC as secured party or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of NMAC as secured party.
Appears in 57 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2021-a Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2021-a Owner Trust), Sale and Servicing Agreement (NISSAN AUTO RECEIVABLES Co II LLC)
Security Interest in Financed Vehicle. Immediately prior to the sale, assignment and transfer thereof pursuant to the Issuerterms of the Basic Documents, such Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of NMAC as secured party or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of NMAC as secured party.
Appears in 8 contracts
Samples: Asset Representations Review Agreement (NISSAN AUTO RECEIVABLES Co II LLC), Asset Representations Review Agreement (NISSAN AUTO RECEIVABLES Co II LLC), Asset Representations Review Agreement (NISSAN AUTO RECEIVABLES Co II LLC)
Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the Issuer, such each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of NMAC as secured party or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of NMAC as secured party, and (ii) as of the Cutoff Date, according to the records of NMAC, no Financed Vehicle has been repossessed.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Nissan Auto Receivables Corp /De)
Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the Issuer, such each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of NMAC as secured party or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of NMAC as secured party.Financed
Appears in 1 contract
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2000-C Owner Trust)
Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the Issuer, such each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of NMAC as secured party or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of NMAC as secured party.as
Appears in 1 contract
Samples: Sale and Servicing Agreement (Nissan Auto Receivables Corp /De)
