Common use of Vehicle Collateral Clause in Contracts

Vehicle Collateral. The Trust Sale and Servicing Agreement and the Indenture shall provide that the Trust and the Indenture Trustee on behalf of the Noteholders is subject to the preceding sentence. If World Omni in any manner assigns or transfers any rights under, or any obligation evidenced or secured by, a Nonfloorplan Agreement, World Omni shall make such assignment or transfer subject to the provisions of this Article VII and shall require such assignee or transferee to acknowledge that it takes such assignment or transfer subject to the provisions of this Article VII and to agree that it will require the same acknowledgment from any subsequent assignee or transferee.