Common use of Due Qualification Clause in Contracts

Due Qualification. The Asset Representations Reviewer is duly qualified to do business and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications.

Appears in 116 contracts

Sources: Asset Representations Review Agreement (BMW Vehicle Lease Trust 2025-2), Asset Representations Review Agreement (BMW Vehicle Lease Trust 2025-2), Asset Representations Review Agreement (John Deere Owner Trust 2025-B)

Due Qualification. The Asset Representations Reviewer is duly qualified to do business as a foreign entity in good standing, and has obtained all necessary licenses and approvals approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require requires such qualificationsqualification, license or approval, unless the failure to obtain the qualification, license or approval would not reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement.

Appears in 70 contracts

Sources: Asset Representations Review Agreement (Ally Auto Receivables Trust 2025- 1), Asset Representations Review Agreement (Ally Auto Receivables Trust 2025- 1), Asset Representations Review Agreement (Ally Auto Assets LLC)

Due Qualification. The Asset Representations Reviewer is duly qualified to do business and is in good standing as a foreign corporation or other foreign entity (or is exempt from such requirements) and has obtained all necessary licenses and approvals in all jurisdictions each jurisdiction in which the ownership or lease of property its properties, if any, or the conduct of its business shall require activities, including the execution, delivery and performance of this agreement, requires such qualificationsqualification, license or approval except where the failure to so qualify or obtain licenses or approvals would not have a material adverse effect on its ability to perform its obligations as Asset Representations Reviewer under this Agreement.

Appears in 8 contracts

Sources: Asset Representations Review Agreement, Asset Representations Review Agreement (American Express Receivables Financing Corp Iv LLC), Asset Representations Review Agreement (American Express Receivables Financing Corp VIII LLC)

Due Qualification. The Asset Representations Reviewer is duly qualified to do business business, is in good standing as a foreign entity (or is exempt from such requirements) and has obtained all necessary licenses and approvals in all jurisdictions each jurisdiction in which the ownership or lease of property or the conduct of its business shall require requires such qualificationsqualification, licenses or approvals, except where the failure to so qualify or obtain licenses or approvals would not reasonably be expected to have a Material Adverse Effect.

Appears in 8 contracts

Sources: Asset Representations Review Agreement (Verizon Master Trust), Asset Representations Review Agreement (Verizon Master Trust), Asset Representations Review Agreement (Verizon Master Trust)

Due Qualification. The Asset Representations and Reviewer is duly qualified to do business and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications.

Appears in 2 contracts

Sources: Asset Representations Review Agreement (BMW Fs Securities LLC), Asset Representations Review Agreement (Financial Services Vehicle Trust)