Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the Issuer, 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 Cut-off Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 41 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2015-C Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2015-C Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables Corp Ii)
Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the Issuer, 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 Cut-off Cutoff Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 13 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2003-C Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables Corp Ii), Sale and Servicing Agreement (Nissan Auto Receivables Corp Ii)
Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the Issuer, 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 Cut-off Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.. (Nissan 2013-A Sale and Servicing Agreement)
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2013-a Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2013-a Owner Trust)
Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the Issuer, 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 Cut-off Cutoff Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Nissan Auto Receivables Corp Ii), 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 IssuerTrustee, 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 Cut-off Cutoff Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Nissan Auto Receivables Corp Ii)
Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the Issuer, 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 Cut-off Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.. (Nissan 2008-C Sale and Servicing Agreement) 24
Appears in 1 contract
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2008-C Owner Trust)
Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the IssuerOwner Trustee, 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 Cut-off Cutoff Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Nissan Auto Receivables Corp /De)
Security Interest in Financed Vehicle. (ia) Immediately prior to the sale, assignment and transfer thereof to the IssuerTrust, 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, party and (iib) as of the Cut-off Cutoff Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 1 contract
Samples: Pooling 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 IssuerTrustee, 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 Cut-off Cutoff Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Nissan Auto Receivables Corp Ii)
Security Interest in Financed Vehicle. (i) Immediately prior to the sale, assignment and transfer thereof to the Issuer, 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 Cut-off Cutoff Date, according to (Nissan 2004-C Sale and Servicing Agreement) the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2004-C Owner Trust)
Security Interest in Financed Vehicle. (ia) Immediately prior to the sale, assignment and transfer thereof to the IssuerTrustee, 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 (iib) as of the Cut-off Cutoff Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Nissan Auto Receivables Corp /De)
Security Interest in Financed Vehicle. (ia) Immediately prior ------------------------------------- to the sale, assignment and transfer thereof to the IssuerTrust, 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, party and (iib) as of the Cut-off Cutoff Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 1 contract
Samples: Pooling 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, 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 (Nissan 2009-1 Sale and Servicing Agreement) Vehicle in favor of NMAC as secured party, and (ii) as of the Cut-off Date, according to the records of NMAC, no Financed Vehicle has been repossessed and the possession thereof not reinstated.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2009-1 Owner Trust)