Common use of Purchase and Sale of Lease Assets Clause in Contracts

Purchase and Sale of Lease Assets. (a) On the Closing Date, subject to satisfaction of the conditions specified in Article V and the Lease Assets Assignment (and, in any event, immediately prior to consummation of the related transactions contemplated by the Secured Notes Transfer Agreements), the Seller shall sell, transfer, assign and otherwise convey to ACOLT, without recourse:

Purchase and Sale of Lease Assets. (a) On the Closing Date, subject to satisfaction of the conditions specified in Article V and the Lease Assets Assignment (and, in any event, immediately prior to consummation of the related transactions contemplated by the Secured Notes Transfer and Administration Agreements), the Seller shall sell, transfer, assign and otherwise convey to ACOLTAFLT, without recourse: