Common use of Conveyance of Receivables and Accounts Clause in Contracts

Conveyance of Receivables and Accounts. (a) The Purchaser does hereby transfer, assign, set over and otherwise convey to the Seller, without recourse, representation or warranty on and after the Removal Commencement Date, all right, title and interest of the Trust and the Purchaser in, to and under (x) all Receivables created from time to time on and after the Removal Commencement Date until the Removal Termination Date in the Ineligible Accounts designated hereby, any rights under any Repurchase Agreement with respect to such Receivables and the Collateral Security in respect thereof, all monies due or to become due and all amounts received with respect thereto (including all Non-Principal Receivables) and all proceeds thereof (as defined in Section 9-306 of the UCC as in effect in the State of Vermont) and Recoveries thereof relating thereto and (y) on the Removal Termination Date, all Collateral Security in connection with such Ineligible Accounts and all proceeds thereof (as defined in Section 9-306 of the UCC as in effect in the State of Vermont) and Recoveries relating thereto.

Conveyance of Receivables and Accounts. (a) The Purchaser -------------------------------------- does hereby transfer, assign, set over and otherwise convey to the Seller, without recourse, representation or warranty on and after the Removal Commencement Date, all right, title and interest of the Trust and the Purchaser in, to and under (x) all Receivables created from time to time on and after the Removal Commencement Date until the Removal Termination Date in the Ineligible Accounts designated hereby, hereby and all monies due or to become due and all amounts received with respect thereto and any rights under any Repurchase Agreement with respect to such Receivables and the Collateral Security in respect thereof, all monies due or to become due and all amounts received with respect thereto (including all Non-Principal Receivables) and all proceeds thereof (as defined in Section 9-306 of the UCC as in effect in the State of Vermont) and Recoveries thereof relating thereto and (y) on the Removal Termination Date, all Collateral Security in connection with such Ineligible Accounts and all proceeds thereof (as defined in Section 9-306 of the UCC as in effect in the State of VermontVermont and Recoveries) and Recoveries relating thereto.