Common use of Acknowledgment and Agreement Clause in Contracts

Acknowledgment and Agreement. By execution below, the Depositor expressly acknowledges and consents to the pledge of the Exchange Note and the assignment of all rights and obligations of the Depositor related thereto by the Buyer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition, the Depositor hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have the right to exercise all powers, privileges and claims of the Buyer under this Agreement.

Acknowledgment and Agreement. By execution below, the Depositor expressly acknowledges and consents to the pledge pledge, assignment and Grant of a security interest in the Exchange Note Receivables and the assignment of all rights and obligations of the Depositor related thereto other Transferred Assets by the Buyer Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition, the Depositor hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have the right to exercise all powers, privileges and claims of the Buyer Issuer under this Agreement.