Assignment by Transferor. The Transferor does hereby transfer, assign and otherwise convey unto the Issuer, for the benefit of the Noteholders [and the Note Insurer,] its right to any recourse to LBAC resulting from the occurrence of a breach of any of their respective representations and warranties contained in Section 3.2 of the Purchase Agreement or from the failure of LBAC to comply with its obligations pursuant to Section 5.5 of the Purchase Agreement. The provisions of this Section 2.3 are intended to grant the Issuer a direct right against LBAC to demand performance under the terms of the Purchase Agreement.
Assignment by Transferor. The Transferor does hereby transfer, assign and otherwise convey unto the Issuer, for the benefit of the Noteholders, the Certificateholders and the Note Insurer, its right to any recourse to LBAC resulting from the occurrence of a breach of any of their respective representations and warranties contained in Section 3.03 of the Purchase Agreement and Section 4 of each Transfer Agreement or from the failure of LBAC to comply with its obligations pursuant to Section 5.05 of the Purchase Agreement. The provisions of this Section 2.4 are intended to grant the Issuer a direct right against LBAC to demand performance under the terms of the Purchase Agreement.
Assignment by Transferor. 10 SECTION 2.5. Further Encumbrance of Trust Assets...................................................10
Assignment by Transferor. 9 SECTION 2.5. The Legal Files Are Not "Financial Assets".................................................10 SECTION 2.6. Further Encumbrance of Trust Assets........................................................10
Assignment by Transferor. The Transferor does hereby transfer, assign and otherwise convey unto the Issuer, for the benefit of the Noteholders and the Note Insurer, its right to any recourse to LBAC resulting from the occurrence of a breach of any of their respective representations and warranties contained in Section 3.2 of the Purchase Agreement and Section 4 of each Transfer Agreement or from the failure of LBAC to comply with its obligations pursuant to Section 5.5 of the Purchase Agreement. The provisions of this
Assignment by Transferor. The Transferor hereby assigns, transfers, sets over and conveys unto the Transferee, from and after the Effective Date, all of its right, title, estate and interest in and to the Subject Agreement and all rights, benefits, privileges and advantages of the Transferor to be derived therefrom, to have and to hold the same unto the Transferee for its sole use and benefit absolutely in the same manner and to the same extent as if the Transferee had been originally named as a party thereto in the place and stead of the Transferor.
Assignment by Transferor. None of the respective rights or obligations of the Transferor hereunder may be assigned without the prior written consent of the Issuer and the Trustee (acting upon the instructions of the Holders of 66-2/3% of the then aggregate unpaid Outstanding Principal Amount of the Notes).
Assignment by Transferor. SECTION 2.4. The Legal Files Are Not "Financial Assets"..................................................4 SECTION 2.5. Further Encumbrance of Trust Assets.........................................................4 ARTICLE III THE RECEIVABLES.......................................................................................5 SECTION 3.1. Representations and Warranties of Transferor................................................5 SECTION 3.2. Repurchase upon Breach of Representations and Warranties of the Transferor..................5 SECTION 3.3. Delivery of Legal Files and Receivable Files................................................6 SECTION 3.4. Acceptance of Legal Files by Custodian......................................................7 SECTION 3.5. Access to Receivable Files and Legal Files; Servicer's Duties with Respect to Receivable Files; Custodian's Duties with Respect to Legal Files.....................8 SECTION 3.6. Covenants of the Custodian..................................................................9 SECTION 3.7. Issuer's Certificate.......................................................................11 ARTICLE IV ADMINISTRATION AND SERVICING OF RECEIVABLES...........................................................11
Assignment by Transferor. The Transferor hereby assigns to the Surety all of its rights in and to any indemnification provided to the Transferor by the Servicer under the Servicing Agreement, including, but not limited to, the indemnification rights of the Transferor pursuant to Sections 3.07 and 7.02 of the Servicing Agreement.
Assignment by Transferor. 21 ARTICLE IV
