Validity of Certificates. The Certificates have been or will be ------------------------ issued pursuant to the terms of the Master Pooling and Servicing Agreement and the Series Supplement and, as or when executed by the Transferor and authenticated by the Trustee in accordance with the Master Pooling and Servicing Agreement and the Series Supplement and delivered pursuant to this Agreement, have been or will be validly issued and outstanding and entitled to the benefits of the Master Pooling and Servicing Agreement and the Series Supplement. The Certificates are or will be in all material respects in the form contemplated by the Master Pooling and Servicing Agreement and the Series Supplement. At the time of transfer to the Purchasers hereunder, the Transferor had or shall have good and marketable title to the Certificates free and clear of any Lien.
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Sources: Certificate Purchase Agreement (Saks Credit Card Master Trust)
Validity of Certificates. The Certificates have been or will be ------------------------ issued pursuant to the terms of the Master Pooling and Servicing Agreement and the Series Supplement and, as or when executed by the Transferor and authenticated by the Trustee in accordance with the Master Pooling and Servicing Agreement and the Series Supplement and delivered pursuant to this Agreement, have been or will be validly issued and outstanding and entitled to the benefits of the Master Pooling and Servicing Agreement and the Series Supplement. The Certificates are or will be in all material respects in the form contemplated by the Master Pooling and Servicing Agreement and the Series Supplement. At the time of transfer to the Purchasers hereunder, the Transferor had or shall have good and marketable title to the Certificates free and clear of any Lien.
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