Common use of Acceptance of Initial Conveyed Collateral Clause in Contracts

Acceptance of Initial Conveyed Collateral. On the Closing Date, upon satisfaction of the conditions set forth in Section 2.2 and subject to Section 2.1(d), the Issuer hereby instructs the Retention Holder, and the Retention Holder hereby instructs the Transferor, and the Transferor hereby agrees to deliver, on behalf of the Issuer, the Initial Conveyed Collateral to the Trustee or, as required by Section 2.7, to the Custodian, and such delivery thereto and acceptance by the Trustee or by the Custodian, as applicable, shall be deemed to be delivery to and acceptance by the Issuer and by the Retention Holder.

Acceptance of Initial Conveyed Collateral. On the Closing Date, upon satisfaction of the conditions set forth in Section 2.2 and subject to Section 2.1(d)2.2, the Issuer hereby instructs the U.S. Retention Holder, and the U.S. Retention Holder hereby instructs the Transferor, and the Transferor hereby agrees to deliver, on behalf of the Issuer, the Initial Conveyed Collateral to the Trustee or, as required by Section 2.72.6, to the Custodian, and such delivery thereto and acceptance by the Trustee or by the Custodian, as applicable, shall be deemed to be delivery to and acceptance by the Issuer and Issuer, by the U.S. Retention Holder.