Common use of Grant of Contract Right Clause in Contracts

Grant of Contract Right. In connection with the sale of the Initial Loans, Red Wolf Funding hereby assigns to Funding all of its rights (but none of its obligations) under, in and to the Conveyance Agreement with respect to the Initial Loans, including all rights of Red Wolf Funding to proceed against the Master Depositor with respect to breaches of representations, warranties and covenants with respect to the Initial Loans.

Grant of Contract Right. In connection with the each sale of the Initial Additional Loans, Red Wolf Funding hereby assigns to Funding all of its rights (but none of its obligations) under, in and to the Conveyance Agreement with respect to the Initial such Additional Loans, including all rights of Red Wolf Funding to proceed against the Master Depositor with respect to breaches of representations, warranties and covenants with respect to the Initial applicable Additional Loans.