Common use of Closing; Further Assignments Clause in Contracts

Closing; Further Assignments. (a) The sale, transfer, assignment and conveyance of the Second-Tier Assets will take place on the 2021-B Closing Date. (b) The Seller acknowledges that the Issuer will, pursuant to the Indenture, assign and pledge the Second-Tier Assets and certain other property and rights to the Indenture Trustee for the benefit of the 2021-B Secured Parties and the Noteholders. The Seller consents to such assignment and pledge. (c) The sale, transfer, assignment and conveyance of the Second-Tier Assets pursuant to this Agreement is without recourse, and the Seller does not guarantee collection of the Second-Tier Assets or any Collateral Asset included in the 2021-B Reference Pool.

Appears in 2 contracts

Samples: Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2021-B), Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2021-B)

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Closing; Further Assignments. (a) The sale, transfer, assignment and conveyance of the Second-Tier Assets will take place on the 20212024-B A Closing Date. (b) The Seller acknowledges that the Issuer will, pursuant to the Indenture, assign and pledge the Second-Tier Assets and certain other property and rights to the Indenture Trustee for the benefit of the 20212024-B A Secured Parties and the Noteholders. The Seller consents to such assignment and pledge. (c) The sale, transfer, assignment and conveyance of the Second-Tier Assets pursuant to this Agreement is without recourse, and the Seller does not guarantee collection of the Second-Tier Assets or any Collateral Asset included in the 20212024-B A Reference Pool.

Appears in 2 contracts

Samples: Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2024-A)

Closing; Further Assignments. (a) The sale, transfer, assignment and conveyance of the Second-Tier Assets will take place on the 20212024-B Closing Date. (b) The Seller acknowledges that the Issuer will, pursuant to the Indenture, assign and pledge the Second-Tier Assets and certain other property and rights to the Indenture Trustee for the benefit of the 20212024-B Secured Parties and the Noteholders. The Seller consents to such assignment and pledge. (c) The sale, transfer, assignment and conveyance of the Second-Tier Assets pursuant to this Agreement is without recourse, and the Seller does not guarantee collection of the Second-Tier Assets or any Collateral Asset included in the 20212024-B Reference Pool.

Appears in 2 contracts

Samples: Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2024-B), Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2024-B)

Closing; Further Assignments. (a) The sale, transfer, assignment and conveyance of the Second-Tier Assets will take place on the 20212020-B Closing Date. (b) The Seller acknowledges that the Issuer will, pursuant to the Indenture, assign and pledge the Second-Tier Assets and certain other property and rights to the Indenture Trustee for the benefit of the 20212020-B Secured Parties and the Noteholders. The Seller consents to such assignment and pledge. (c) The sale, transfer, assignment and conveyance of the Second-Tier Assets pursuant to this Agreement is without recourse, and the Seller does not guarantee collection of the Second-Tier Assets or any Collateral Asset included in the 20212020-B Reference Pool.

Appears in 2 contracts

Samples: Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2020-B), Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2020-B)

Closing; Further Assignments. (a) The sale, transfer, assignment and conveyance of the Second-Tier Assets will take place on the 20212023-B A Closing Date. (b) The Seller acknowledges that the Issuer will, pursuant to the Indenture, assign and pledge the Second-Tier Assets and certain other property and rights to the Indenture Trustee for the benefit of the 20212023-B A Secured Parties and the Noteholders. The Seller consents to such assignment and pledge. (c) The sale, transfer, assignment and conveyance of the Second-Tier Assets pursuant to this Agreement is without recourse, and the Seller does not guarantee collection of the Second-Tier Assets or any Collateral Asset included in the 20212023-B A Reference Pool.

Appears in 2 contracts

Samples: Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2023-A)

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Closing; Further Assignments. (a) The sale, transfer, assignment and conveyance of the Second-Tier Assets will take place on the 2021-B A Closing Date. (b) The Seller acknowledges that the Issuer will, pursuant to the Indenture, assign and pledge the Second-Tier Assets and certain other property and rights to the Indenture Trustee for the benefit of the 2021-B A Secured Parties and the Noteholders. The Seller consents to such assignment and pledge. (c) The sale, transfer, assignment and conveyance of the Second-Tier Assets pursuant to this Agreement is without recourse, and the Seller does not guarantee collection of the Second-Tier Assets or any Collateral Asset included in the 2021-B A Reference Pool.

Appears in 2 contracts

Samples: Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2021-A), Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2021-A)

Closing; Further Assignments. (a) The sale, transfer, assignment and conveyance of the Second-Tier Assets will take place on the 20212020-B A Closing Date. (b) The Seller acknowledges that the Issuer will, pursuant to the Indenture, assign and pledge the Second-Tier Assets and certain other property and rights to the Indenture Trustee for the benefit of the 20212020-B A Secured Parties and the Noteholders. The Seller consents to such assignment and pledge. (c) The sale, transfer, assignment and conveyance of the Second-Tier Assets pursuant to this Agreement is without recourse, and the Seller does not guarantee collection of the Second-Tier Assets or any Collateral Asset included in the 20212020-B A Reference Pool.

Appears in 2 contracts

Samples: Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2020-A), Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2020-A)

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