Common use of Acknowledgement of Further Assignments Clause in Contracts

Acknowledgement of Further Assignments. Each Originator acknowledges that (a) under the Transfer and Servicing Agreement, the Depositor will transfer and assign all of its right, title and interest in the Originator Transferred Property and related property and rights to the Issuer and (b) under the Indenture, the Issuer will assign and pledge the Originator Transferred Property and related property and rights to the Indenture Trustee for the benefit of the Secured Parties.

Acknowledgement of Further Assignments. Each Originator acknowledges that (a) under the Transfer and Servicing Agreement, the Depositor will transfer and assign all of its right, title and interest in the Originator Transferred Property and related property and rights to the Issuer Trust and (b) under the IndentureMaster Collateral Agreement, (1) the Issuer Trust will assign and pledge the Originator Transferred Property and related property and rights to the Indenture Trustee Master Collateral Agent for the benefit of the Secured PartiesParties and (2) the Trust (or the Administrator, on behalf of the Trust) will select the Group to which such transferred Receivables shall be designated.