Common use of Initial Contribution of Receivables and Trust Property Clause in Contracts

Initial Contribution of Receivables and Trust Property. On the Closing Date and simultaneously with the transactions pursuant to the Transfer and Assignment Agreement and the Indenture, the Seller shall contribute and assign to the Owner Trustee, without recourse except as set forth herein, all of the Seller's right, title and interest, whether now or hereafter existing, in and to (i) the Initial Receivables identified on a Schedule of Receivables delivered on the Closing Date, and all moneys received thereon (including amounts received on any Extended Service Agreements relating thereto), after the related Cutoff Date (except for interest accrued as of the related Cutoff Date and actually received subsequent to such Cutoff Date which shall be withdrawn from the Revenue Fund, to the extent contained therein, and paid to the Seller); (ii) the security interest in the Financed Vehicles granted by the Obligors pursuant to such Receivables and the Certificates of Title to such Financed Vehicles; (iii) the interest of the Seller in any proceeds from claims on any physical damage, credit life, risk default, disability or other insurance policies covering the Financed Vehicles or the Obligors or refunds in connection with Extended Service Agreements relating to Defaulted Receivables from such Cutoff Date; (iv) any property (including the right to receive future Liquidation Proceeds) that shall secure an Initial Receivable; (v) all right, title and interest of the Seller in and to any recourse against COAF or any Dealer pursuant to the Transfer and Assignment Agreement or the applicable Dealer Agreement, respectively; (vi) the original retail installment contracts and security agreements and/or installment loans evidencing the Initial Receivables; and (vii) the proceeds of any and all of the foregoing. (All of the property identified in this subsection (a) and the following subsection (c) shall constitute "Trust Property".)

Initial Contribution of Receivables and Trust Property. On the Closing Date and simultaneously with the transactions pursuant to the Transfer and Assignment Agreement and the Indenture, the Seller shall contribute and assign to the Owner Trustee, without recourse except as set forth herein, a 100% interest in (i) all of the Seller's right, title and interest, whether now or hereafter existing, interest of the Seller in and to (i) the Initial Receivables identified on a Schedule of Receivables delivered on the Closing Date, and all moneys received thereon (including amounts received on any Extended Service Agreements relating thereto), after the related Cutoff Date (except for interest accrued as of the related Cutoff Date and actually received subsequent to such Cutoff Date which shall be withdrawn from the Revenue Fund, to the extent contained therein, and paid to the Seller); (ii) the security interest to the Initial Receivables assigned by the related Dealer, Capital One F.S.B. or Referral Originator to COAF in the Financed Vehicles granted and transferred by COAF to the Obligors pursuant to such Receivables Seller and the Certificates certificates of Title title to such Financed Vehicles; (iii) the interest of the Seller in any proceeds from claims on any physical damage, credit life, risk default, disability or other insurance policies covering the Financed Vehicles or the Obligors or refunds in connection with Extended Service Agreements relating to Defaulted Receivables from such Cutoff Date; (iv) any property (including the right to receive future Liquidation Proceeds) that shall secure an Initial Receivable; (v) all right, title and interest of the Seller in and to any recourse against COAF or any Dealer pursuant to the Transfer and Assignment Agreement or the applicable Dealer Agreement, respectively; (vi) the original retail installment contracts and security agreements and/or installment loans evidencing the Initial Receivables; and (vii) the proceeds of any and all of the foregoing. (All of the property identified in this subsection (a) and the following subsection (c) shall constitute "Trust Property".)

Initial Contribution of Receivables and Trust Property. On the Closing Date and simultaneously with the transactions pursuant to the Transfer and Assignment Agreement and the Indenture, the Seller shall contribute and assign to the Owner Trustee, without recourse except as set forth herein, a 100% interest in (i) all of the Seller's right, title and interest, whether now or hereafter existing, interest of the Seller in and to (i) the Initial Receivables identified on a Schedule of Receivables delivered on the Closing Date, and all moneys received thereon (including amounts received on any Extended Service Agreements relating thereto), after the related Cutoff Date (except for interest accrued as of the related Cutoff Date and actually received subsequent to such Cutoff Date which shall be withdrawn from the Revenue Fund, to the extent contained therein, and paid to the Seller); (ii) the security interest of the Seller in the Financed Vehicles granted by the Obligors pursuant to such the Initial Receivables and the Certificates certificates of Title title to such Financed Vehicles; (iii) the interest of the Seller in any proceeds from claims on any physical damage, credit life, risk default, disability or other insurance policies covering the Financed Vehicles or the Obligors or refunds in connection with Extended Service Agreements relating to Defaulted Receivables from such Cutoff Date; (iv) any property (including the right to receive future Liquidation Proceeds) that shall secure an Initial Receivable; (v) all right, title and interest of the Seller in and to any recourse against COAF the Transferor or any Dealer pursuant to the Transfer and Assignment Agreement or the applicable Dealer Agreement, respectively; (vi) the original retail installment contracts and security agreements and/or installment loans evidencing the Initial Receivables; and (vii) the proceeds of any and all of the foregoing. (All of the property identified in this subsection (a) and the following subsection (c) shall constitute "Trust Property".)

Initial Contribution of Receivables and Trust Property. On the Closing Date and simultaneously with the transactions pursuant to the Transfer and Assignment Agreement and the Indenture, the Seller shall contribute and assign to the Owner Trustee, without recourse except as set forth herein, all of the Seller's right, title and interest, whether now or hereafter existing, in and to (i) the Initial Receivables identified on a Schedule of Receivables delivered on the Closing Date, and all moneys received thereon (including amounts received on any Extended Service Agreements relating thereto), after the related Cutoff Date (except for interest accrued as of the related Cutoff Date and actually received subsequent to such Cutoff Date which shall be withdrawn from the Revenue Fund, to the extent contained therein, and paid to the Seller); (ii) the security interest to the Initial Receivables assigned by the related Dealer, Capital One F.S.B. or Referral Originator to COAF in the Financed Vehicles granted and transferred by COAF to the Obligors pursuant to such Receivables Seller and the Certificates certificates of Title title to such Financed Vehicles; (iii) the interest of the Seller in any proceeds from claims on any physical damage, credit life, risk default, disability or other insurance policies covering the Financed Vehicles or the Obligors or refunds in connection with Extended Service Agreements relating to Defaulted Receivables from such Cutoff Date; (iv) any property (including the right to receive future Liquidation Proceeds) that shall secure an Initial Receivable; (v) all right, title and interest of the Seller in and to any recourse against COAF or any Dealer pursuant to the Transfer and Assignment Agreement or the applicable Dealer Agreement, respectively; (vi) the original retail installment contracts and security agreements and/or installment loans evidencing the Initial Receivables; and (vii) the proceeds of any and all of the foregoing. (All of the property identified in this subsection (a) and the following subsection (c) shall constitute "Trust Property".)