Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of CNHICA as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of CNHICA as secured party.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party or, in accordance with its customary standards, policies and servicing procedures, the Seller has taken all steps as are necessary to result in a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party. Documents UCC documents Retail note contract Data tape Procedures to be Performed
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party or, in accordance with its customary standards, policies and servicing procedures, the Seller has taken all steps as are necessary to result in a validly perfected first priority purchase money security interest (as defined in the applicable UCC) in the Financed Equipment in favor of the Seller as secured party.
Security Interest in Financed Equipment. Immediately prior to the transfer of the Receivables by the Seller to the Depositor, each Receivable was secured by a valid, binding and enforceable first priority perfected security interest in favor of the Seller in the related Financed Equipment or all necessary action with respect to such Receivable has been taken to perfect a first priority security interest in the related Financed Equipment in favor of the Seller, which security interest has been validly assigned by the Seller to the Depositor. The Servicer has received, or will receive within 180 days after the Closing Date, the original certificate of title for each item of Financed Equipment or notice from the applicable State entity issuing such certificate of title, that such certificate of title is being processed (other than any Financed Equipment that is not subject to a certificate of title statute or vehicle registration law or is subject to a certificate of title statute or vehicle registration law that does not require that the original certificate of title for such Financed Equipment be delivered to the Seller).
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of the Seller as secured party.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Case Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of Case Credit as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of Case Credit as secured party, except that (A) no security interest against the Obligor is created in True Lease Equipment and (B) Case Credit makes no representation or warranty as to any security interest granted by any Dealer to secure the Dealer's obligations to make payments in respect of Termination Values.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of the Seller as secured party. As of the Cut-off Date, such Financed Equipment is located in the United States of America.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each NH Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of NH Credit as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of NH Credit as secured party, except that (A) no security interest against the Obligor is created in True Lease Equipment and (B) NH Credit makes no representation or warranty as to any security interest granted by any Dealer to secure the Dealer's obligations to make payments in respect of Termination Values.
Security Interest in Financed Equipment. Immediately prior to the sale, assignment and transfer thereof, each CNHCA Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of CNHCA as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of CNHCA as secured party, except that (A) no security interest against the Obligor is created in True Lease Equipment and (B) CNHCA makes no representation or warranty as to any security interest granted by any Dealer to secure the Dealer’s obligations to make payments in respect of Termination Values.
Security Interest in Financed Equipment. As security for the payment of the Term Note and as conditional security for (A) the payment of the Cash Note, (B) the payment of all obligations of Xxxx Hauling to BANK in connection with the Initial Letter of Credit and the Second Letter of Credit pursuant to the Applications, in connection with BORROWER'S surety thereof, or otherwise, and (C) the payment and discharge of all of the Indebtedness, BORROWER hereby grants to BANK (and confirms the prior grant to BANK of) a security interest in and to all of BORROWER'S Financed Equipment."
