Attached files
file | filename |
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8-K - HYUNDAI ABS FUNDING LLC | v208703_8-k.htm |
EX-8.1 - HYUNDAI ABS FUNDING LLC | v208703_ex8-1.htm |
EXHIBIT
5.1
Mayer
Brown LLP
71
South Wacker Drive
Chicago,
Illinois 60606-4637
Main
Tel +1 312 782 0600
Main
Fax +1 312 701 7711
www.mayerbrown.com
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January
20, 2011
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Hyundai
Auto Receivables Trust 2011-A
Hyundai
ABS Funding Corporation
3161
Michelson Drive, Suite 1900
Irvine,
California 92612
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Re:
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Hyundai
Auto Receivables Trust 2011-A
Registration
Statement on Form S-3
Registration
No. 333-168518
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We have
examined originals or copies, certified or otherwise identified to our
satisfaction, of the organizational documents of the Depositor and the Issuing
Entity, the Indenture, the form of Notes included as an exhibit to the
Indenture, and such other records, documents and certificates of the Issuing
Entity and public officials and other instruments as we have deemed necessary
for the purpose of this opinion. In addition, we have assumed that
the Indenture will be duly executed and delivered by the parties thereto; that
the Notes will be duly executed and delivered substantially in the forms
contemplated by the Indenture; and that the Notes will be sold as described in
the Registration Statement.
Based
upon the foregoing, we are of the opinion that:
The Notes
are in due and proper form and, assuming the due authorization, execution and
delivery of the Indenture by the Issuing Entity and the Indenture Trustee, and
the due authorization of the Notes by all necessary action on the part of the
Issuing Entity, when the Notes have been validly executed, authenticated and
issued in accordance with the Indenture and delivered against payment therefor,
the Notes will be valid and binding obligations of the Issuing Entity,
enforceable against the Issuing Entity in accordance with their terms, subject
to bankruptcy, insolvency, reorganization, moratorium or other similar laws
relating to or affecting creditors’ rights generally (including, without
limitation, fraudulent conveyance laws), and general principles of equity,
including without limitation, concepts of materiality, reasonableness, good
faith and fair dealing and the possible unavailability of specific performance
or injunctive relief, regardless of whether such enforceability is considered in
a proceeding in equity or at law.
Mayer
Brown LLP operates in combination with our associated English limited liability
partnership
and Hong
Kong partnership (and its associated entities in Asia) and is associated with
Tauil & Chequer Advogados, a Brazilian law partnership.
Mayer Brown llp
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Hyundai
Auto Receivables Trust 2011-A
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January
20, 2011
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Page
2
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The
opinions expressed above are limited to the federal laws of the United States of
America and the laws of the State of New York (excluding choice of law
principles therein). We express no opinion herein as to the laws of any other
jurisdiction and no opinion regarding the statutes, administrative decisions,
rules, regulations or requirements of any county, municipality, subdivision or
local authority of any jurisdiction.
We hereby
consent to the filing of this opinion with the Securities and Exchange
Commission as an exhibit to the Registration Statement and to the use of our
name therein, without admitting that we are “experts” within the meaning of the
Act or the rules or regulations of the Securities and Exchange Commission
thereunder, with respect to any part of the Registration Statement, including
this exhibit.
SML/RXG
Very
truly yours,
Mayer
Brown LLP