Common use of No Novation, Effect of Agreement Clause in Contracts

No Novation, Effect of Agreement. Seller and Buyer have entered into this Amendment solely to amend the terms of the Pricing Letter and do not intend this Amendment or the transactions contemplated hereby to be, and this Amendment and the transactions contemplated hereby shall not be construed to be, a novation of any of the obligations owing by any of Seller or Guarantor (the “Repurchase Parties”) under or in connection with the Pricing Letter or any of the other Program Document. It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the obligations of the Repurchase Parties under the Pricing Letter and the other Program Documents are preserved, (ii) the liens and security interests granted under the Pricing Letter continue in full force and effect, and (iii) any reference to the Pricing Letter in any such Program Document shall be deemed to also reference this Amendment.

No Novation, Effect of Agreement. Seller and Buyer have entered into this Amendment solely to amend the terms of the Pricing Letter Repurchase Agreement and do not intend this Amendment or the transactions contemplated hereby to be, and this Amendment and the transactions contemplated hereby shall not be construed to be, a novation of any of the obligations owing by any of Seller or Guarantor (the “Repurchase Parties”) under or in connection with the Pricing Letter Repurchase Agreement or any of the other Program Documentdocuments executed in connection therewith to which Seller is a party. It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the obligations of the Repurchase Parties Seller under the Pricing Letter and the other Program Documents Repurchase Agreement are preserved, (ii) the liens and security interests granted under the Pricing Letter Repurchase Agreement continue in full force and effect, and (iii) any reference to the Pricing Letter Repurchase Agreement in any such Program Document shall be deemed to also reference this Amendment.

No Novation, Effect of Agreement. Seller and Buyer have entered into this Amendment solely to amend the terms of the Pricing Letter Repurchase Agreement and do not intend this Amendment or the transactions contemplated hereby to be, and this Amendment and the transactions contemplated hereby shall not be construed to be, a novation of any of the obligations owing by any of Seller or Guarantor (the “Repurchase Parties”) under or in connection with the Pricing Letter Repurchase Agreement or any of the other Program Document. It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the obligations of the Repurchase Parties under the Pricing Letter Repurchase Agreement and the other Program Documents are preserved, (ii) the liens and security interests granted under the Pricing Letter Repurchase Agreement continue in full force and effect, and (iii) any reference to the Pricing Letter Repurchase Agreement in any such Program Document shall be deemed to also reference this Amendment.

No Novation, Effect of Agreement. Seller and Buyer have entered into this Amendment solely to amend the terms of the Pricing Letter Repurchase Agreement and do not intend this Amendment or the transactions contemplated hereby to be, and this Amendment and the transactions contemplated hereby shall not be construed to be, a novation of any of the obligations owing by any of Seller or Guarantor (the “Repurchase Parties”) under or in connection with the Pricing Letter Repurchase Agreement or any of the other Program Documentdocuments executed in connection therewith to which Seller is a party. It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the obligations of the Repurchase Parties Seller under the Pricing Letter and the other Program Documents Repurchase Agreement are preserved, (ii) the liens and security interests granted under the Pricing Letter Repurchase Agreement continue in full force and effect, and (iii) any reference to the Pricing Letter Repurchase Agreement in any such Program Document shall be deemed to also reference this Amendment.. 11)