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 AFS under Section 5.1 hereof or Section 2.7 of the Servicing and Custodian Agreement, Purchaser (at AFS's expense) shall take such steps as may be reasonably requested by AFS in order to assign to AFS all of Purchaser's and the Collateral Agent'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 Collateral Agent 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 Collateral Agent. Such assignment 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 AFS may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Purchaser and the Collateral Agent shall, at the expense of AFS, take such steps as AFS deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser's or in the Collateral Agent's name.

Reassignment of Purchased Receivables. Upon deposit in ------------------------------------- into the Collection Account account or accounts designated by the Purchaser of the Purchase Amount of price paid to the Purchaser for any Receivable repurchased purchased by AFS Maxtor under Section 5.1 hereof 6.1 or upon the Contribution of replacement Receivables pursuant to Section 2.7 of 6.1, the Servicing Purchaser shall (and Custodian Agreement, Purchaser (at AFS's expenseshall request the Agent to) shall take such steps as may be reasonably requested by AFS Maxtor in order to assign to AFS Maxtor all of the Purchaser's and the Collateral Agent's right, title and interest in and to such Receivable the Receivables being repurchased or replaced and all security and documents and all Other Conveyed Property conveyed Conveyed to the Purchaser and the Collateral Agent directly relating related thereto, without recourse, representation or warrantywarranty of any kind, except as to the absence of Liens liens, charges or encumbrances created by or arising solely as a result of actions of the Purchaser or the Collateral Agent. Such assignment 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 AFS Maxtor may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the such Receivable, the Purchaser and the Collateral Agent shall, at the expense of AFSMaxtor, take such steps as AFS Maxtor, deems reasonably necessary to enforce the such Receivable, including bringing suit in the Purchaser's or in the Collateral Agent's name.

Reassignment of Purchased Receivables. Upon deposit in ------------------------------------- the Collection Account of the Purchase Amount of any Transferred Receivable repurchased by AFS ACC or OFL-A under Section 5.1 hereof 6.1 or Section 2.7 of 6.2, the Servicing Purchaser and Custodian Agreement, Purchaser (at AFS's expense) each Investor shall take such steps as may be reasonably requested by AFS ACC or OFL-A, as the case may be, in order to assign to AFS ACC or OFL-A, as the case may be, all of the Purchaser's and the Collateral Agenteach Investor's right, title and interest in and to such Transferred Receivable and all security and documents and all Other Conveyed Property conveyed to the Purchaser and the Collateral Agent each Investor directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens liens, charges or encumbrances created by or arising as a result of actions of the Purchaser or the Collateral Agentany Investor. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Transferred Receivable, in any enforcement suit or legal proceeding, it is held that AFS ACC or OFL-A, as the case may not be, enforce any such Transferred Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Transferred Receivable, the Purchaser and the Collateral Agent each Investor shall, at the expense of AFSACC or OFL-A, as the case may be, take such steps as AFS ACC or OFL-A, as the case may be, deems reasonably necessary to enforce the Transferred Receivable, including bringing suit in the Purchaser's or in the Collateral Agenteach Investor's name.

Reassignment of Purchased Receivables. Upon deposit ------------------------------------- in ------------------------------------- the Collection Account of the Purchase Amount of any Receivable repurchased by AFS under Section 5.1 hereof or Section 2.7 of the Servicing and Custodian Agreement, Purchaser (at AFS's expense) shall take such steps as may be reasonably requested by AFS in order to assign to AFS all of Purchaser's and the Collateral Agent'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 Collateral Agent 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 Collateral Agent. Such assignment 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 AFS may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Purchaser and the Collateral Agent shall, at the expense of AFS, take such steps as AFS deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser's or in the Collateral Agent's name.

Reassignment of Purchased Receivables. Upon deposit in ------------------------------------- the Collection Account of the Purchase Amount of any Receivable Receivables repurchased by AFS Triad or deposit with the Indenture Trustee of a Replacement Receivable under Section 5.1 hereof or Section 2.7 of SECTION 5.1, the Servicing Company, the Owner Trustee and Custodian Agreement, Purchaser (at AFS's expense) the Indenture Trustee shall take such steps as may be any and all actions reasonably requested by AFS in order Triad, at the expense of Triad, to assign assign, without recourse, representation or warranty, to AFS Triad all of Purchaserthe Company's, the Indenture Trustee's and the Collateral AgentTrust'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 Collateral Agent directly relating theretoReceivables, 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 Collateral Agent. Such such assignment shall be a sale and being an assignment outright, outright and not for security; and Triad shall thereupon own such Receivables and all such Other Conveyed Property, free of any further obligation to the Company, the Trust, the Indenture Trustee or the Noteholders with respect thereto. The Company shall take any and all actions reasonably requested by Triad, at the expense of Triad, to release its security interest in each such Receivable and in the Other Conveyed Property with respect thereto. If, following the reassignment of a Purchased Receivable, or a replaced Receivable in any enforcement suit or legal proceeding, it is held that AFS Triad may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Purchaser and the Collateral Agent Company shall, at the expense of AFSTriad, take such steps as AFS Triad deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser's or in the Collateral AgentCompany's name.