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 20[__]-[_] Closing Date concurrently with the closings under the First-Tier Sale Agreement and the Indenture. (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 20[__]-[_] 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 20[__]-[_] Reference Pool.

Closing; Further Assignments. (a) The sale, transfer, assignment and conveyance of the Second-Tier Assets will take place on the 20[__]-[__] Closing Date concurrently with the closings under the First-Tier Sale Agreement and the Indenture. (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 20[__]-[__] 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 20[__]-[__] Reference Pool.