Common use of Conveyance of the Receivables and the Other Conveyed Clause in Contracts

Conveyance of the Receivables and the Other Conveyed. Property to the Issuer. Sellers acknowledge that Purchaser intends, pursuant to ---------------------- the Sale and Servicing Agreement, to convey the Receivables and the Other Conveyed Property, together with its rights under this Agreement, to the Issuer on the date hereof and on the Subsequent Transfer Date in the case of Subsequent Receivables. Sellers acknowledge and consent to such conveyance and pledge and waive any further notice thereof and covenant and agree that the representations and warranties of Sellers contained in this Agreement and the rights of Purchaser hereunder are intended to benefit the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder. In furtherance of the foregoing, Sellers covenant and agree to perform their duties and obligations hereunder, in accordance with the terms hereof for the benefit of the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder and that, notwithstanding anything to the contrary in this Agreement, Sellers shall be directly liable to the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder (notwithstanding any failure by the Servicer, the Backup Servicer or the Purchaser to perform their respective duties and obligations hereunder or under Related Documents) and that the Trust Collateral Agent may enforce the duties and obligations of Sellers under this Agreement against Sellers for the benefit of the Insurer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder.

Conveyance of the Receivables and the Other Conveyed. Property to the Issuer. Sellers acknowledge Seller acknowledges that Purchaser intends, pursuant to ---------------------- the Sale and Servicing Agreement, to convey the Receivables and the Other Conveyed Property, together with its rights under this Agreement, to the Issuer on the date hereof hereof. Seller acknowledges and on the Subsequent Transfer Date in the case of Subsequent Receivables. Sellers acknowledge and consent consents to such conveyance and pledge and waive waives any further notice thereof and covenant covenants and agree agrees that the representations and warranties of Sellers Seller contained in this Agreement and the rights of Purchaser hereunder are intended to benefit the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the CertificateholderCertificateholders. In furtherance of the foregoing, Sellers covenant Seller covenants and agree agrees to perform their its duties and obligations hereunder, in accordance with the terms hereof for the benefit of the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder Certificateholders and that, notwithstanding anything to the contrary in this Agreement, Sellers Seller shall be directly liable to the Issuer, the Insurer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder Certificateholders (notwithstanding any failure by the Servicer, the Backup Servicer or the Purchaser to perform their respective duties and obligations hereunder or under Related Documents) and that the Trust Collateral Agent may enforce the duties and obligations of Sellers Seller under this Agreement against Sellers Seller for the benefit of the Insurer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the CertificateholderCertificateholders.

Conveyance of the Receivables and the Other Conveyed. Property to the Issuer. Sellers acknowledge that Purchaser intends, pursuant ---------------------- to ---------------------- the Sale and Servicing Agreement, to convey the Receivables and the Other Conveyed Property, together with its rights under this Agreement, to the Issuer on the date hereof and on the Subsequent Transfer Date in the case of Subsequent Receivables. Sellers acknowledge and consent to such conveyance and pledge and waive any further notice thereof and covenant and agree that the representations and warranties of Sellers contained in this Agreement and the rights of Purchaser hereunder are intended to benefit the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder. In furtherance of the foregoing, Sellers covenant and agree to perform their duties and obligations hereunder, in accordance with the terms hereof for the benefit of the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder and that, notwithstanding anything to the contrary in this Agreement, Sellers shall be directly liable to the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder (notwithstanding any failure by the Servicer, the Backup Servicer or the Purchaser to perform their respective duties and obligations hereunder or under Related Documents) and that the Trust Collateral Agent may enforce the duties and obligations of Sellers under this Agreement against Sellers for the benefit of the Insurer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder.

Conveyance of the Receivables and the Other Conveyed. Property to the Issuer. Sellers acknowledge Originator acknowledges that Purchaser intends, pursuant ---------------------- to ---------------------- the Sale and Servicing Agreement, to convey the Receivables and the Other Conveyed Property, together with its rights under this Agreement, to the Issuer on the date hereof hereof. Originator acknowledges and on the Subsequent Transfer Date in the case of Subsequent Receivables. Sellers acknowledge and consent consents to such conveyance and pledge and waive waives any further notice thereof and covenant covenants and agree agrees that the representations and warranties of Sellers Originator contained in this Agreement and the rights of Purchaser hereunder are intended to benefit the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the CertificateholderCertificateholders. In furtherance of the foregoing, Sellers covenant Originator covenants and agree agrees to perform their its duties and obligations hereunder, in accordance with the terms hereof for the benefit of the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder Certificateholders and that, notwithstanding anything to the contrary in this Agreement, Sellers Originator shall be directly liable to the Issuer, the Insurer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder Certificateholders (notwithstanding any failure by the Servicer, the Backup Servicer or the Purchaser to perform their respective duties and obligations hereunder or under Related Documents) and that the Trust Collateral Agent may enforce the duties and obligations of Sellers Originator under this Agreement against Sellers Originator for the benefit of the Insurer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the CertificateholderCertificateholders.