Common use of Reassignment of Purchased Receivables Clause in Contracts

Reassignment of Purchased Receivables. Upon deposit in the Collection Account of the Purchase Amount of any Receivable repurchased by the Originator under Section 5.1, the Issuer and the Indenture Trustee will take such steps as may be reasonably requested by the Originator in order to assign to the Originator all of the Issuer's right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to the Issuer directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of the Issuer. Such assignment will be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that the Originator may not enforce any such Receivable on the ground that it will not be a real party in interest or a holder entitled to enforce the Receivable, the Issuer and the Indenture Trustee will, at the expense of the Originator, take such steps as the Originator deems reasonably necessary to enforce the Receivable, including bringing suit in the Issuer's name.

Reassignment of Purchased Receivables. Upon deposit in the Collection Account of the Purchase Amount of any Receivable repurchased by the Originator under Section 5.1, the Issuer and the Indenture Trustee will take such steps as may be reasonably requested by the Originator in order to assign to the Originator all of the Issuer's ’s right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to the Issuer directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of the Issuer. Such assignment will be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that the Originator may not enforce any such Receivable on the ground that it will not be a real party in interest or a holder entitled to enforce the Receivable, the Issuer and the Indenture Trustee will, at the expense of the Originator, take such steps as the Originator deems reasonably necessary to enforce the Receivable, including bringing suit in the Issuer's ’s name.

Reassignment of Purchased Receivables. Upon deposit in ------------------------------------- the Collection Account of the Purchase Amount of any Receivable repurchased by the Originator Seller under Section 5.15.1 hereof, Purchaser and the Issuer and the Indenture Trustee will shall take such steps as may be reasonably requested by the Originator Seller in order to assign to the Originator Seller all of Purchaser's and the Issuer's right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to Purchaser and the Issuer directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of Purchaser or the Issuer. Such assignment will shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that the Originator Seller may not enforce any such Receivable on the ground that it will shall not be a real party in interest or a holder entitled to enforce the Receivable, Purchaser and the Issuer and the Indenture Trustee willshall, at the expense of the OriginatorSeller, take such steps as the Originator Seller deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser's or in the Issuer's name.