Conveyance of Trust Property. In consideration of the Issuer's sale and delivery to, or upon the order of, the Seller of the Securities in an aggregate principal amount of $1,912,000,000 and the rights to distributions under Section 4.7, the Seller does hereby irrevocably sell, transfer, assign and otherwise convey to the Issuer without recourse (subject to the obligations herein) all right, title and interest of the Seller, whether now owned or hereafter acquired, in and to the Trust Property and the Reserve Initial Deposit. The transfer, assignment and conveyance made hereunder will not constitute and is not intended to result in an assumption by the Issuer of any obligation of the Seller to the Obligors, the Dealers or any other Person in connection with the Receivables and the other Trust Property or any agreement, document or instrument related thereto.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2004-A)
Conveyance of Trust Property. In consideration of the Issuer's sale and delivery to, or upon the order of, the Seller of the Securities in an aggregate principal amount of $1,912,000,000 3,035,482,000 and the rights to distributions under Section 4.7, the Seller does hereby irrevocably sell, transfer, assign and otherwise convey to the Issuer without recourse (subject to the obligations herein) all right, title and interest of the Seller, whether now owned or hereafter acquired, in and to the Trust Property and the Reserve Initial Deposit. The transfer, assignment and conveyance made hereunder will not constitute and is not intended to result in an assumption by the Issuer of any obligation of the Seller to the Obligors, the Dealers or any other Person in connection with the Receivables and the other Trust Property or any agreement, document or instrument related thereto.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2005-B)
Conveyance of Trust Property. In consideration of the Issuer's sale and delivery to, or upon the order of, the Seller of the Securities in an aggregate principal amount of $1,912,000,000 4,590,000,000 and the rights to distributions under Section 4.7, the Seller does hereby irrevocably sell, transfer, assign and otherwise convey to the Issuer without recourse (subject to the obligations herein) all right, title and interest of the Seller, whether now owned or hereafter acquired, in and to the Trust Property and the Reserve Initial Deposit. The transfer, assignment and conveyance made hereunder will not constitute and is not intended to result in an assumption by the Issuer of any obligation of the Seller to the Obligors, the Dealers or any other Person in connection with the Receivables and the other Trust Property or any agreement, document or instrument related thereto.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2005-A)
Conveyance of Trust Property. In consideration of the Issuer's sale and delivery to, or upon the order of, the Seller of the Securities Notes in an aggregate principal amount of $1,912,000,000 2,051,940,000 and the rights to distributions under Section 4.7, the Seller does hereby irrevocably sell, transfer, assign and otherwise convey to the Issuer without recourse (subject to the obligations herein) all right, title and interest of the Seller, whether now owned or hereafter acquired, in and to the Trust Property and the Reserve Initial Deposit. The transfer, assignment and conveyance made hereunder will not constitute and is not intended to result in an assumption by the Issuer of any obligation of the Seller to the Obligors, the Dealers or any other Person in connection with the Receivables and the other Trust Property or any agreement, document or instrument related thereto.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2005-C)