Common use of Conveyance of Sold Receivables Clause in Contracts

Conveyance of Sold Receivables. The Issuer sells and assigns to the Depositor, without recourse, representation or warranty on and after the Redesignation Date, all of its right, title and interest in, to and under all Sold Receivables now existing at the close of business on the Redesignation Date and thereafter originated from time to time in the Redesignated Accounts redesignated by this Reassignment, all Related Security with respect to the foregoing, all monies due or to become due and all amounts received with respect to the foregoing, and all proceeds (as defined in Section 9 315 of the UCC) and Recoveries thereof. If requested by the Depositor, in connection with such sale, the Issuer agrees to execute and deliver to the Depositor on or before the date of this Reassignment, a termination statement with respect to the Sold Receivables existing at the close of business on the Redesignation Date and thereafter originated from time to time and Related Security thereof in the Redesignated Accounts reassigned by this Reassignment (which may be a single termination statement with respect to all such Sold Receivables and Related Security) evidencing the release by the Issuer of its Lien on the Sold Receivables in the Redesignated Accounts and the Related Security, and meeting the requirements of Applicable Law, in such manner and such jurisdictions as are necessary to remove such Lien.

Conveyance of Sold Receivables. The Issuer Buyer sells and assigns to the DepositorSeller, without recourse, representation or warranty on and after the Redesignation Date, all of its right, title and interest in, to and under all Sold Receivables now existing at the close of business on the Redesignation Date and or thereafter originated from time to time in the Redesignated Accounts redesignated by this Reassignment, all Related Security with respect to any of the foregoing, all monies due or to become due and all amounts received with respect to any of the foregoing, and all proceeds (as defined in Section 9 9-315 of the UCC) and Recoveries thereof. If requested by the DepositorSeller, in connection with such sale, the Issuer Buyer agrees to execute and deliver to the Depositor Seller on or before the date of this Reassignment, a termination statement with respect to the Sold Receivables existing at the close of business on the Redesignation Date and thereafter originated from time to time and Related Security thereof in the Redesignated Accounts reassigned by this Reassignment (which may be a single termination statement with respect to all such Sold Receivables and Related Security) evidencing the release by the Issuer Buyer of its Lien on the Sold Receivables in the Redesignated Accounts and the Related Security, and meeting the requirements of Applicable Law, in such manner and such jurisdictions as are necessary to remove such Lien.