Common use of Acceptance by Issuer; Limitation on Transfer of NITC Purchase Obligations Clause in Contracts

Acceptance by Issuer; Limitation on Transfer of NITC Purchase Obligations. The Issuer does hereby accept all consideration conveyed by the Seller pursuant to Section 2.01, and declares that the Issuer shall hold such consideration upon the trust set forth in the Trust Agreement for the benefit of Certificateholders, subject to the terms and conditions of the Trust Agreement, Indenture and this Agreement; provided, however, that the Issuer acknowledges and agrees that (a) the rights pursuant to the NITC Purchase Obligations are personal to NFC, and only the proceeds of such rights are being assigned to the Issuer pursuant to the terms hereof, (b) the Issuer is not or is not intended to be a third-party beneficiary of such rights, and (c) accordingly such rights are not exercisable by, enforceable by or for the benefit of, or preserved for the benefit of, the Issuer. The Issuer hereby agrees and accepts the appointment and authorization of NFC as Servicer under Section 3.01. The parties agree that this Agreement, the Indenture and the Trust Agreement constitute the Further Transfer and Servicing Agreements for purposes of the Purchase Agreement.