Assignment and Assumption of the Agreement. The Bank hereby confirms that it is bound by the Agreement, that it has assumed the performance of every liability and obligation of Capital One Bank under the Agreement and that all of Capital One Bank’s right, title and interest in, to and under the Agreement has been vested in the Bank by operation of law. For the avoidance of doubt, the Bank hereby expressly assumes the performance of every covenant and obligation of the Servicer under the Agreement.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Capital One Funding, LLC), Transfer and Administration Agreement (Capital One Funding, LLC), Pooling and Servicing Agreement (Capital One Funding, LLC)
Assignment and Assumption of the Agreement. The Bank hereby confirms that it is bound by the Agreement, that it has assumed the performance of every liability and obligation of Capital One Bank under the Agreement and that all of Capital One Bank’s right, title and interest in, to and under the Agreement has been vested in the Bank by operation of law. The Bank also ratifies, confirms, and effects the sales and other conveyances described in the Agreement and in each Supplemental Conveyance. For the avoidance of doubt, the Bank hereby expressly assumes the performance of every covenant and obligation of the Servicer under the Agreement.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Capital One Funding, LLC)
