Common use of Valid Security Interest Clause in Contracts

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and purchasers from the Issuer.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the Issuer.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series [_]-[_] Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2023-4 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2024-8 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Collateral Series Certificate in favor of the Indenture Trustee which security interest is prior to all other Liens, other than Permitted Liens, liens and is enforceable as such against the creditors of and purchasers from the Issuer.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2024-1 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2022-3 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2023-5 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2022-4 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2023-1 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2025-3 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2022-1 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2024-4 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2024-3 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2021-2 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2025-1 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2022-2 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2021-1 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2023-2 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2023-7 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2022-7 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2025-5 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2024-6 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2024-5 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2022-5 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2023-6 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2022-6 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2025-2 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2024-2 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2025-4 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2025-6 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2023-3 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.

Valid Security Interest. This Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Series 2024-7 Collateral in favor of the Indenture Trustee which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and of, purchasers from and transferees and absolute assignees of the IssuerTrust.