Direct Assignments. The Seller and the Purchaser acknowledge and agree that, solely for administrative convenience, any transfer document or assignment agreement (or, in the case of any Underlying Note, any chain of endorsement) required to be executed and delivered in connection with the transfer of a Loan in accordance with the terms of related Underlying Instruments may reflect that (i) the Seller (or any third party from whom the Seller or the Purchaser may purchase a Loan) is assigning such Loan directly to the Purchaser or (ii) the Purchaser is acquiring such Loan at the closing of such Loan. Nothing in any such transfer document or assignment agreement (or, in the case of any Underlying Note, nothing in such chain of endorsement) shall be deemed to impair the sales, conveyances and transfers of the Loans by the Seller to the Purchaser in accordance with the terms of this Agreement.
Direct Assignments. The Originator, the Depositor and the Issuer acknowledge and agree that, solely for administrative convenience, any transfer document or assignment agreement (or, in the case of any Underlying Note, any chain of endorsement) required to be executed and delivered in connection with the transfer of a Collateral Obligation in accordance with the terms of related Underlying Documents may reflect that (i) the Originator (or any third party from whom the Originator, the Depositor or the Issuer may purchase a Collateral Obligation) is assigning such Collateral Obligation directly to the Issuer or (ii) the Issuer is acquiring such Collateral Obligation at the closing of such Collateral Obligation. Nothing in any such transfer document or assignment agreement (or, in the case of any Underlying Note, nothing in such chain of endorsement) shall be deemed to impair the transfers of the Collateral Obligations by the Originator to the Depositor and the Depositor to the Issuer in accordance with the terms of this Agreement.
Direct Assignments. The Transferor and the Transferee acknowledge and agree that, solely for administrative convenience, any transfer document or assignment agreement required to be executed and delivered in connection with the transfer of a Collateral Obligation in accordance with the terms of related Underlying Instruments may reflect that (i) the Transferor (or any third party from whom the Transferor or the Transferee may purchase a Collateral Obligation) is assigning such Collateral Obligation directly to the Transferee or (ii) the Transferee is acquiring such Loan at the closing of such Collateral Obligation. Nothing in any such transfer document or assignment agreement shall be deemed to impair the Conveyances of the Collateral Obligations by the Transferor to the Transferee in accordance with the terms of this Agreement.
Direct Assignments. The Transferor, the Depositor and the Issuer acknowledge and agree that, solely for administrative convenience, any transfer document or assignment agreement (or, in the case of any Underlying Note, any chain of endorsement) required to be executed and delivered in connection with the transfer of a Collateral Obligation in accordance with the terms of related Underlying Documents may reflect that the Transferor (or any affiliate thereof or any third party from whom the Transferor or the Depositor may purchase a Collateral Obligation) is assigning such Collateral Obligation directly to the Issuer. Nothing in any such transfer document or assignment agreement (or, in the case of any Underlying Note, nothing in such chain of endorsement) shall be deemed to impair the transfers of the Collateral Obligations by the Transferor to the Depositor and the Depositor to the Issuer in accordance with the terms of this Agreement. Notwithstanding the foregoing, the Issuer, when and as permitted by the Indenture, may purchase Collateral Obligations directly from third parties or may acquire Collateral Obligations as a lender at the closing thereof.
Direct Assignments. The Seller and the Buyer acknowledge and agree that any transfer document or assignment agreement (or, in the case of any underlying promissory note, any chain of endorsement) with a third-party seller of a Portfolio Loan (a “Third-Party Seller”) that is required to be executed and delivered in connection with the transfer of a Portfolio Loan in accordance with the terms of the Related Contracts may (pursuant to written direction by the Seller to the Buyer) be entered into by the Buyer, as agent, and for the benefit and account, of the Seller. The Buyer shall have recourse to the Seller for liabilities arising from so acting as agent of the Seller. Following the consummation of such transaction, the Buyer shall (upon written notice to the Seller) require the Seller (and the Seller agrees following receipt of such notice) to transfer, pursuant to this Agreement, all of the Seller's interest (including such beneficial interest) in such Portfolio Loan to the Buyer.
Direct Assignments. The Transferor and the Transferee acknowledge and agree that, solely for administrative convenience, any transfer document or assignment agreement required to be executed and delivered in connection with the transfer of a Collateral Loan in accordance with the terms of related Underlying Instruments may reflect that (i) the Transferor (or any third-party from whom the Transferor or the Transferee may purchase a Collateral Loan) is assigning such Collateral Loan directly to the Transferee or (ii) the Transferee is acquiring such Loan at the closing of such Collateral Loan. Nothing in any such transfer document or assignment agreement shall be deemed to impair the Conveyances of the Collateral Loans by the Transferor to the Transferee in accordance with the terms of this Agreement.
Direct Assignments. De minimis certificate/work assignments are those that, due to their nature and effect, will have minimal or very minor impact on working conditions. For example, certificate/work assignments made by Direct Assignment include, but are not limited to: small air operators (FAR 135 single pilot or nine or less passenger operations); small air agencies or designated airman. To the extent practicable and consistent with position management considerations, certificate/ work assignments in this category will be distributed equitably among eligible employees.
