Common use of Assignment and Transfer of Specified Assets from the Titling Trust Clause in Contracts

Assignment and Transfer of Specified Assets from the Titling Trust. The Holders of the Series relating to any Specified Interest will, or will cause the related Servicer to, identify to the Titling Trust Administrator in accordance with Section 4.3(h) any related Specified Assets that have been or are to be assigned or otherwise transferred from the Titling Trust, and provide to the Titling Trust Administrator the following information with respect to such Specified Assets: (i) the Specified Interest from which the Specified Assets have been or are to be assigned or otherwise transferred; (ii) the Assignment Date; and (iii) the date as of which Collections on such Specified Assets will cease to be allocated to such Specified Interest. Effective as of the Assignment Date set forth in any Assignment Notice, the Specified Assets identified therein will cease to be Titling Trust Assets. The effectiveness of an Assignment Notice that is delivered with respect to any Specified Interest will be subject to the rights of any Titling Trust Noteholders or Registered Pledgees with respect to such Specified Interest.

Assignment and Transfer of Specified Assets from the Titling Trust. The Holders of the Series relating to any Specified Interest will, or will cause the related Servicer to, identify to the Titling Trust Administrator in accordance with Section 4.3(h) any related Specified Assets that have been or are to be assigned or otherwise transferred from the Titling Trust, and provide to the Titling Trust Administrator the following information with respect to such Specified Assets: (i) the Specified Interest from which the Specified Assets have been or are to be assigned or otherwise transferred; (ii) the Assignment Date; and (iii) the date as of which Collections on such Specified Assets will cease to be allocated to such Specified Interest. Effective as of the Assignment Date set forth in any Assignment Notice, but subject to compliance with the Asset Removal Procedures set forth in Section 4.4, the Specified Assets identified therein in the Applicable Asset Annex attached to such Assignment Notice will cease to be Titling Trust Assets. The effectiveness of an Assignment Notice that is delivered with respect to any Specified Interest will be subject to the rights of any Titling Trust Noteholders or Registered Pledgees with respect to such Specified Interest.