Common use of Assignment of Purchase Agreement Clause in Contracts

Assignment of Purchase Agreement. This Agreement shall bind and inure to the benefit of and be enforceable by the Seller, the Purchaser, the Trustee and the Credit Enhancer. The obligations of the Seller under this Agreement cannot be assigned or delegated to a third party without the consent of the Purchaser, except that the Purchaser acknowledges and agrees that the Seller may assign its obligations hereunder to any Person into which the Seller is merged or any corporation resulting from any merger, conversion or consolidation to which the Seller is a party or any Person succeeding to the business of the Seller. The parties hereto acknowledge that the Purchaser is acquiring the Mortgage Loans for the purpose of contributing them to a trust that will issue a series of Investor Certificates representing undivided interests in such Mortgage Loans. As an inducement to the Purchaser to purchase the Mortgage Loans, the Seller acknowledges and consents to the assignment by the Purchaser to the Trustee of all of the Purchaser's rights against the Seller pursuant to this Agreement insofar as such rights relate to Mortgage Loans transferred to such Trustee and to the enforcement or exercise of any right or remedy against the Seller pursuant to this Agreement by the Trustee or the Credit Enhancer under the Pooling and Servicing Agreement. Such enforcement of a right or remedy by the Trustee or the Credit Enhancer shall have the same force and effect as if the right or remedy had been enforced or exercised by the Purchaser directly.

Assignment of Purchase Agreement. This Agreement shall bind and inure to the benefit of and be enforceable by the Seller, the Purchaser, [the Insurer], the [Owner] Trustee [and the Credit EnhancerIndenture Trustee]. The obligations of the Seller under this Agreement cannot be assigned or delegated to a third party without the consent of the Purchaser [and the Insurer], which consent shall be at the Purchaser's [and the Insurer's] sole discretion, except that the Purchaser acknowledges and agrees that the Seller may [with the consent of the Insurer] assign its obligations hereunder to any Person into which the Seller is merged or any corporation resulting from any merger, conversion or consolidation to which the Seller is a party or any Person succeeding to the business of the Seller. The parties hereto acknowledge that the Purchaser is acquiring the Mortgage Loans for the purpose of contributing them to a trust that will issue a series Series of Investor Certificates representing undivided interests in [Notes secured by such Mortgage Loans]. As an inducement to the Purchaser to purchase the Mortgage Loans, the Seller acknowledges and consents to the assignment by the Purchaser to the [Owner] Trustee [and the assignment by the Owner Trustee to the Indenture Trustee] of all of the Purchaser's rights against the Seller pursuant to this Agreement insofar as such rights relate to Mortgage Loans transferred to such [Owner] Trustee and to the enforcement or exercise of any right or remedy against the Seller pursuant to this Agreement by the [Owner] Trustee or the Credit Enhancer under the Pooling [Document] [and Servicing Agreementthe Indenture Trustee under the Indenture]. Such enforcement of a right or remedy by the [Owner] Trustee or the Credit Enhancer shall have the same force and effect as if the right or remedy had been enforced or exercised by the Purchaser directly.

Assignment of Purchase Agreement. This Agreement shall bind and inure to the benefit of and be enforceable by the Mortgage Loan Seller, the Purchaser, the Trustee Purchaser and the Credit EnhancerTrustee. The obligations of the Mortgage Loan Seller under this Agreement cannot be assigned or delegated to a third party without the consent of the Purchaser, except that the Purchaser acknowledges and agrees that the Mortgage Loan Seller may assign its obligations hereunder to any Person into which the Mortgage Loan Seller is merged or any corporation resulting from any merger, conversion or consolidation to which the Mortgage Loan Seller is a party or any Person succeeding to the business of the Mortgage Loan Seller. The parties hereto acknowledge that the Purchaser is acquiring the Mortgage Loans for the purpose of contributing them to a trust that will issue a series of Investor Certificates representing undivided interests in such Mortgage Loans. As an inducement to the Purchaser to purchase the Mortgage Loans, the Mortgage Loan Seller acknowledges and consents to the assignment by the Purchaser to the Trustee of all of the Purchaser's rights against the Mortgage Loan Seller pursuant to this Agreement insofar as such rights relate to Mortgage Loans transferred to such Trustee and to the enforcement or exercise of any right or remedy against the Mortgage Loan Seller pursuant to this Agreement by the Trustee or the Credit Enhancer under the Pooling and Servicing Agreement. Such enforcement of a right or remedy by the Trustee or the Credit Enhancer shall have the same force and effect as if the right or remedy had been enforced or exercised by the Purchaser directly.