Common use of CONVEYANCE OF THE INITIAL RECEIVABLES AND THE INITIAL OTHER CONVEYED PROPERTY Clause in Contracts

CONVEYANCE OF THE INITIAL RECEIVABLES AND THE INITIAL OTHER CONVEYED PROPERTY. Subject to the terms and conditions of this Agreement, AFL hereby sells, transfers, assigns, and otherwise conveys to ARFC without recourse (but without limitation of its obligations in this Agreement), and ARFC hereby purchases, all right, title and interest of AFL in and to the Initial Receivables and the Initial Other Conveyed Property. AFL and ARFC acknowledge that certain of the Initial Receivables and Initial Other Conveyed Property have previously been sold, transferred, assigned and conveyed to ARFC pursuant to the Telluride Purchase Agreement, and AFL hereby confirms such prior sale, transfer, assignment and conveyance. It is the intention of AFL and ARFC that the transfer and assignment contemplated by this Agreement shall constitute a sale of the Initial Receivables and the Initial Other Conveyed Property from AFL to ARFC, conveying good title thereto free and clear of any Liens, and the Initial Receivables and the Initial Other Conveyed Property shall not be part of AFL's estate in the event of the filing of a bankruptcy petition by or against AFL under any bankruptcy or similar law.

CONVEYANCE OF THE INITIAL RECEIVABLES AND THE INITIAL OTHER CONVEYED PROPERTY. Subject to the terms and conditions of this Agreement, AFL OFL hereby sells, transfers, assigns, and otherwise conveys to ARFC ORFC without recourse (but without limitation of its obligations in this Agreement), and ARFC ORFC hereby purchases, all right, title and interest of AFL OFL in and to the Initial Receivables and the Initial Other Conveyed Property. AFL OFL and ARFC ORFC acknowledge that certain of the Initial Receivables and Initial Other Conveyed Property have previously been sold, transferred, assigned and conveyed to ARFC ORFC pursuant to the Telluride Purchase Agreement, and AFL OFL hereby confirms such prior sale, transfer, assignment and conveyance. It is the intention of AFL OFL and ARFC ORFC that the transfer and assignment contemplated by this Agreement shall constitute a sale of the Initial Receivables and the Initial Other Conveyed Property from AFL OFL to ARFCORFC, conveying good title thereto free and clear of any Liens, and the Initial Receivables and the Initial Other Conveyed Property shall not be part of AFLOFL's estate in the event of the filing of a bankruptcy petition by or against AFL OFL under any bankruptcy or similar law.