Common use of Acknowledgement and Agreement of TRS Clause in Contracts

Acknowledgement and Agreement of TRS. By execution below, TRS expressly acknowledges and agrees that all of RFC VIII’s right, title, and interest in, to, and under this Agreement, including all of RFC VIII’s right, title, and interest in and to the Purchased Assets, may be assigned by RFC VIII to the Trust and by the Trust to the Indenture Trustee, and TRS consents to such assignments. TRS further agrees that notwithstanding any claim, counterclaim, right of setoff or defense which it may have against RFC VIII, due to a breach by RFC VIII of this Agreement or for any other reason, and notwithstanding the bankruptcy of RFC VIII or any other event whatsoever, TRS’s sole remedy shall be a claim against RFC VIII for money damages, and then only to the extent of funds available to RFC VIII, and in no event shall TRS assert any claim on or any interest in the Purchased Assets or take any action which would reduce or delay receipt by the Trust or the Indenture Trustee of Collections with respect to the Purchased Assets.

Acknowledgement and Agreement of TRS. By execution below, TRS expressly acknowledges and agrees that all of RFC VIII’s V's right, title, and interest in, to, and under this Agreement, including all of RFC VIII’s V's right, title, and interest in and to the Purchased Assets, may be assigned by RFC VIII V to the Trust and by the Trust to the Indenture Trustee, and TRS consents to such assignments. TRS further agrees that notwithstanding any claim, counterclaim, right of setoff or defense which it may have against RFC VIIIV, due to a breach by RFC VIII V of this Agreement or for any other reason, and notwithstanding the bankruptcy of RFC VIII V or any other event whatsoever, TRS’s 's sole remedy shall be a claim against RFC VIII V for money damages, and then only to the extent of funds available to RFC VIIIV, and in no event shall TRS assert any claim on or any interest in the Purchased Assets or take any action which would reduce or delay receipt by the Trust or the Indenture Trustee of Collections with respect to the Purchased Assets.. Additionally, TRS agrees that any amounts payable by TRS to RFC V hereunder which are to be paid by RFC V to the Trust, the Indenture Trustee or the Servicer shall be paid by TRS directly to the Trust, the Indenture Trustee or the Servicer, as applicable, as assignee (or the agent of an assignee) of RFC V.