Common use of Assignment of Loan Documents Clause in Contracts

Assignment of Loan Documents. Seller hereby grants, assigns, transfers, conveys and delivers to Buyer the Loan Documents and all of Seller’s right, title, interest, benefits and privileges thereunder, and Buyer hereby accepts such Assignment. Notwithstanding anything to the contrary in this Assignment, Seller shall continue to be entitled (on a non-exclusive basis) to the rights of indemnity, defense and to be held harmless provided to the lender under the Loan Documents; provided, however, that (i) nothing herein shall be construed to limit the right, title and interest of Buyer once Buyer becomes the lender under the Loan Documents, to all such rights of indemnity, defense and to be held harmless, (ii) if and to the extent Seller’s rights of indemnity, defense and to be held harmless provided to the lender under the Loan Documents conflict or compete in any way with Buyer’s rights of indemnity, defense and to be held harmless provided to the lender under the Loan Documents, Buyer’s rights shall have priority, and (iii) if and to the extent any amounts are recoverable from or payable by a borrower and/or any guarantor under the Loan Documents in satisfaction of such indemnity and/or defense obligations, then as between Buyer (and Bxxxx’s Related Persons) and Seller (and Seller’s Related Persons), Buyer (and Buyer’s Related Persons) shall have first priority as to same.

Assignment of Loan Documents. Seller Assignor hereby grants, assigns, transfers, conveys and delivers to Buyer Assignee the Loan Documents and all of SellerAssignor’s right, title, interest, benefits and privileges thereunder, and Buyer Assignee hereby accepts such Assignment. Notwithstanding anything to the contrary in this Assignment, Seller Assignor shall continue to be entitled (on a non-exclusive basis) to the rights of indemnity, defense and to be held harmless provided to the lender under the Loan Documents; provided, however, that (i) nothing herein shall be construed to limit the right, title and interest of Buyer Assignee once Buyer Assignee becomes the lender under the Loan Documents, to all such rights of indemnity, defense and to be held harmless, (ii) if and to the extent SellerAssignor’s rights of indemnity, defense and to be held harmless provided to the lender under the Loan Documents conflict or compete in any way with BuyerAssignee’s rights of indemnity, defense and to be held harmless provided to the lender under the Loan Documents, BuyerAssignee’s rights shall have priority, and (iii) if and to the extent any amounts are recoverable from or payable by a borrower and/or any guarantor under the Loan Documents in satisfaction of such indemnity and/or defense obligations, then as between Buyer Assignee (and BxxxxBuyer’s Related Persons) and Seller Assignor (and Seller’s Related Persons), Buyer Assignee (and Buyer’s Related Persons) shall have first priority as to same.