Common use of Activities of the Depositor Clause in Contracts

Activities of the Depositor. The Depositor will not engage in any --------------------------- business or activity of any kind or enter into any transaction other than: (i) the businesses, activities and transactions contemplated and authorized by this Agreement or the Related Documents, including without limitation: (A) the execution and delivery by the Depositor of, and the performance by the Depositor of its obligations under, the BCRC Note and the Pledge Agreement (each as defined in the Receivables Purchase Agreement)); (B) acquiring, selling, financing, holding, assigning, pledging and otherwise dealing with wholesale and retail receivables arising out of the sale of consumer, recreational and commercial products and related activities and transactions; (C) transferring such receivables to trusts pursuant to a pooling and servicing agreement or similar agreement or arrangement; (D) authorizing, selling and delivering any class of certificates or other securities of any such trust; (E) acquiring from BCI certificates issued by one or more grantor trusts to which BCI transferred receivables; (F) issuing, selling, authorizing and delivering one or more series and classes of bonds, notes or other evidences of indebtedness secured or collateralized by one or more pools of receivables or by certificates of any class issued by one or more trusts or by certificates of any class issued by a grantor trust established by BCI (collectively, the "Notes"), ----- provided that the Depositor shall have no liability under any Notes (other than the BCRC Note (as defined in the Receivables Purchase Agreement)) except to the extent of the one or more pools of receivables or the certificates securing or collateralizing such Notes; (S) 2.06 (G) holding and enjoying all of the rights and privileges of any certificates issued by the trusts to the Depositor under the related agreements and holding and enjoying all of the rights and privileges of any class of any series of Notes, including any class of Notes or certificates which may be subordinate to any other class of Notes or certificates, respectively; (H) performing its obligations under the agreements and any indenture or other agreement (each, an "Indenture") pursuant --------- to which any Notes are issued; (I) engaging in any activity and exercising any powers permitted to corporations under the laws of the State of Delaware that are related or incidental to the foregoing and necessary, convenient or advisable to accomplish the foregoing; and (ii) any other activity in connection with which the Depositor has given the Rating Agencies at least ten (10) days' prior notice and the Rating Agency Condition has been satisfied (such businesses, activities and transactions referred to in clauses (i) and (ii) collectively, "Permitted Transactions"). Notwithstanding the ---------------------- foregoing, the Depositor will not establish or be depositor under any other trust without prior Rating Agency approval.

Activities of the Depositor. The Depositor will not engage in any --------------------------- business or activity of any kind or enter into any transaction other than: (i) the businesses, activities and transactions contemplated and authorized by this Agreement or the Related Documents, including without limitation: (A) the execution and delivery by the Depositor of, and the performance by the Depositor of its obligations under, the BCRC Note and the Pledge Agreement (each as defined in the Receivables Purchase Agreement)); (B) acquiring, selling, financing, holding, assigning, pledging and otherwise dealing with wholesale and retail receivables arising out of the sale of consumer, recreational and commercial products and related activities and transactions; (C) transferring such receivables to trusts pursuant to a pooling and servicing agreement or similar agreement or arrangement; (D) authorizing, selling and delivering any class of certificates or other securities of any such trust; (E) acquiring from BCI certificates issued by one or more grantor trusts to which BCI transferred receivables; (F) issuing, selling, authorizing and delivering one or more series and classes of bonds, notes or other evidences of indebtedness secured or collateralized by one or more pools of receivables or by certificates of any class issued by one or more trusts or by certificates of any class issued by a grantor trust established by BCI (collectively, the "Notes"), ----- provided that the Depositor shall have no liability under any Notes (other than the BCRC Note (as defined in the Receivables Purchase Agreement)) except to the extent of the one or more pools of receivables or the certificates securing or collateralizing such Notes; (S) 2.06; (G) holding and enjoying all of the rights and privileges of any certificates issued by the trusts to the Depositor under the related agreements and holding and enjoying all of the rights and 'SS' 2.06 privileges of any class of any series of Notes, including any class of Notes or certificates which may be subordinate to any other class of Notes or certificates, respectively; (H) performing its obligations under the agreements and any indenture or other agreement (each, an "Indenture") pursuant --------- to which any Notes are issued; (I) engaging in any activity and exercising any powers permitted to corporations under the laws of the State of Delaware that are related or incidental to the foregoing and necessary, convenient or advisable to accomplish the foregoing; and (ii) any other activity in connection with which the Depositor has given the Rating Agencies at least ten (10) days' prior notice and the Rating Agency Condition has been satisfied (such businesses, activities and transactions referred to in clauses (i) and (ii) collectively, "Permitted Transactions"). Notwithstanding the ---------------------- foregoing, the Depositor will not establish or be depositor under any other trust without prior Rating Agency approval.