Common use of Assumption of Duties Clause in Contracts

Assumption of Duties. (a) DCWR hereby agrees that prior to the date of this Agreement it shall be bound by all the provisions and requirements of and assume all of the responsibilities under the Sale and Servicing Agreement, the Related Documents and the Trust Documents, applicable to DCWR. The Designated Affiliate hereby agrees that on and after the date of this Agreement it shall be bound by all the provisions and requirements of and assume the performance of every covenant and obligation and all of the responsibilities and duties under the Sale and Servicing Agreement, the Related Documents and the Trust Documents applicable to DCWR. (b) In connection with such assumption, the Designated Affiliate agrees to record and file, at its own expense, a financing statement on form UCC-1 (and continuation statements when applicable) with respect to (i) the Receivables now existing and created on or after the Assumption Date in the Accounts (which may be a single financing statement with respect to all such Receivables) for the sale of "tangible chattel paper", "accounts" or "payment intangibles" (each as defined in Section 9-102 of the UCC as in effect in the relevant jurisdiction) and (ii) all other Collateral now existing and created on or after the Assumption Date, meeting the requirements of applicable state law in such manner and in such jurisdictions as are necessary to perfect the sale, transfer and assignment of such Receivables and other Collateral to the Trust, and to deliver a file-stamped copy of such financing statements or other evidence of such filing (which may, for purposes of this Section 4, consist of telephone confirmation of such filing, confirmed within 24 hours in writing) to the Trustee on or prior to the Assumption Date.

Assumption of Duties. (a) DCWR CARCO hereby agrees that prior to the date of this Agreement it shall be bound by all the provisions and requirements of and assume all of the responsibilities under the Sale Pooling and Servicing Agreement, the Related Documents and the Trust Documents, applicable to DCWRCARCO. The Designated Affiliate hereby agrees that on and after the date of this Agreement it shall be bound by all the provisions and requirements of and assume the performance of every covenant and obligation and all of the responsibilities and duties under the Sale Pooling and Servicing Agreement, the Related Documents and the Trust Documents applicable to DCWRCARCO. (b) In connection with such assumption, the Designated Affiliate agrees to record and file, at its own expense, a financing statement on form UCC-1 (and continuation statements when applicable) with respect to (i) the Receivables now existing and created on or after the Assumption Date in the Accounts (which may be a single financing statement with respect to all such Receivables) for the sale of "tangible chattel paper", "accounts" or "payment intangibles" paper (each as defined in Section 9-102 105 of the UCC as in effect in any state where CARCO's, the relevant jurisdictionDesignated Affiliate's or the Servicer's chief executive offices or books and records relating to the Receivables are located) and (ii) all other Collateral Trust Assets as defined in Section 2.01 of the Pooling and Servicing Agreement now existing and created on or after the Assumption Date, meeting the requirements of applicable state law in such manner and in such jurisdictions as are necessary to perfect the sale, transfer and assignment of such Receivables and other Collateral Trust Assets to the Trust, and to deliver a file-stamped copy of such financing statements or other evidence of such filing (which may, for purposes of this Section 43, consist of telephone confirmation of such filing, confirmed within 24 hours in writing) to the Trustee on or prior to the Assumption Date.

Assumption of Duties. (a) DCWR hereby agrees that prior to the date of this Agreement it shall be bound by all the provisions and requirements of and assume all of the responsibilities under the Sale Amended and Restated Pooling and Servicing Agreement, the Related Documents and the Trust Documents, applicable to DCWR. The Designated Affiliate hereby agrees that on and after the date of this Agreement it shall be bound by all the provisions and requirements of and assume the performance of every covenant and obligation and all of the responsibilities and duties under the Sale Amended and Restated Pooling and Servicing Agreement, the Related Documents and the Trust Documents applicable to DCWR. (b) In connection with such assumption, the Designated Affiliate agrees to record and file, at its own expense, a financing statement on form UCC-1 (and continuation statements when applicable) with respect to (i) the Receivables now existing and created on or after the Assumption Date in the Accounts (which may be a single financing statement with respect to all such Receivables) for the sale of "tangible chattel paper", "accounts" or "payment intangibles" (each as defined in Section 9-102 of the UCC as in effect in the relevant jurisdiction) and (ii) all other Collateral Trust Assets as defined in Section 2.01 of the Amended and Restated Pooling and Servicing Agreement now existing and created on or after the Assumption Date, meeting the requirements of applicable state law in such manner and in such jurisdictions as are necessary to perfect the sale, transfer and assignment of such Receivables and other Collateral Trust Assets to the Trust, and to deliver a file-stamped copy of such financing statements or other evidence of such filing (which may, for purposes of this Section 4, consist of telephone confirmation of such filing, confirmed within 24 hours in writing) to the Trustee on or prior to the Assumption Date.