Common use of Reassignment of Purchased Receivables Clause in Contracts

Reassignment of Purchased Receivables. Upon deposit into the account or accounts designated by the Purchaser of the price paid to the Purchaser for any Receivable purchased by Maxtor under Section 6.1 or upon the Contribution of replacement Receivables pursuant to Section 6.1, the Purchaser shall (and shall request the Collateral Agent to) take such steps as may be reasonably requested by Maxtor in order to assign to Maxtor all of the Purchaser's right, title and interest in and to the Receivables being repurchased or replaced and all security and documents and all Other Conveyed Property Conveyed to the Purchaser directly related thereto, without recourse, representation or warranty of any kind, except as to the absence of 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 Receivable, in any enforcement suit or legal proceeding, it is held that Maxtor may not enforce any such Receivable on the ground that it shall not be a party in interest or a holder entitled to enforce such Receivable, the Purchaser shall, at the expense of Maxtor, take such steps as Maxtor, deems reasonably necessary to enforce such Receivable, including bringing suit in the Purchaser's name.

Reassignment of Purchased Receivables. Upon deposit into in the account or accounts designated by the Purchaser Collection Account of the price paid to the Purchaser for any Receivable purchased by Maxtor FCC under Section 6.1 or upon the Contribution of replacement Receivables pursuant to Section 6.1, the lien of the Purchaser in such Receivable shall without any further action be released and the Purchaser shall (and shall request the Collateral Agent to) take such steps as may be reasonably requested by Maxtor FCC in order to assign to Maxtor FCC all of the Purchaser's and the Agent's right, title and interest in and to the Receivables being repurchased or replaced such Receivable and all security and documents and all Related Security and Other Conveyed Property Conveyed to the Purchaser and the Agent directly related relating thereto, without recourse, representation or warranty of any kind, except as to the absence of 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 Receivable, in any enforcement suit or legal proceeding, it is held that Maxtor FCC may not enforce any such Receivable on the ground that it shall not be a party in interest or a holder entitled to enforce such Receivable, the Purchaser shall, at the expense of MaxtorFCC, take such steps as Maxtor, FCC deems reasonably necessary to enforce such Receivable, including bringing suit in the Purchaser's name.

Reassignment of Purchased Receivables. Upon deposit into ------------------------------------- in the account or accounts designated by the Purchaser Collection Account of the price paid to the Purchaser for Purchase Amount of any Receivable purchased repurchased by Maxtor AFS under Section 6.1 5.1 hereof or upon Section 2.7 of the Contribution of replacement Receivables pursuant to Section 6.1Servicing and Custodian Agreement, the Purchaser (at AFS's expense) shall (and shall request the Collateral Agent to) take such steps as may be reasonably requested by Maxtor AFS in order to assign to Maxtor AFS all of Purchaser's and the PurchaserCollateral Agent's right, title and interest in and to the Receivables being repurchased or replaced such Receivable and all security and documents and all Other Conveyed Property Conveyed conveyed to Purchaser and the Purchaser Collateral Agent directly related relating thereto, without recourse, representation or warranty of any kindwarranty, except as to the absence of liens, charges or encumbrances Liens 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 Maxtor 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 such the Receivable, Purchaser and the Purchaser Collateral Agent shall, at the expense of MaxtorAFS, take such steps as Maxtor, AFS deems reasonably necessary to enforce such the Receivable, including bringing suit in Purchaser's or in the PurchaserCollateral Agent's name.

Reassignment of Purchased Receivables. Upon deposit into the account or accounts designated by the Purchaser of the price paid to the Purchaser for any Receivable purchased by Maxtor under Section 6.1 or upon the Contribution of replacement Receivables pursuant to Section 6.1, the Purchaser shall (and shall request the Collateral Agent to) take such steps as may be reasonably requested by Maxtor in order to assign to Maxtor all of the Purchaser's right, title and interest in and to the Receivables being repurchased or replaced and all security and documents and all Other Conveyed Property Conveyed to the Purchaser directly related thereto, without recourse, representation or warranty of any kind, except as to the absence of 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 Receivable, in any enforcement suit or legal proceeding, it is held that Maxtor may not enforce any such Receivable on the ground that it shall not be a party in interest or a holder entitled to enforce such Receivable, the Purchaser shall, at the expense of Maxtor, take such steps as Maxtor, deems reasonably necessary to enforce such Receivable, including bringing suit in the Purchaser's name.

Reassignment of Purchased Receivables. Upon deposit into in the account or accounts designated by the Purchaser Collection Account of the price paid to the Purchaser for Purchase Amount of any Receivable purchased repurchased by Maxtor AFS under Section 6.1 5.1 hereof or upon Section 2.7 of the Contribution of replacement Receivables pursuant to Section 6.1Servicing and Custodian Agreement, the Purchaser (at AFS's expense) shall (and shall request the Collateral Agent to) take such steps as may be reasonably requested by Maxtor AFS in order to assign to Maxtor AFS all of Purchaser's and the PurchaserCollateral Agent's right, title and interest in and to the Receivables being repurchased or replaced such Receivable and all security and documents and all Other Conveyed Property Conveyed conveyed to Purchaser and the Purchaser Collateral Agent directly related relating thereto, without recourse, representation or warranty of any kindwarranty, except as to the absence of liens, charges or encumbrances Liens 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 Maxtor 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 such the Receivable, Purchaser and the Purchaser Collateral Agent shall, at the expense of MaxtorAFS, take such steps as Maxtor, AFS deems reasonably necessary to enforce such the Receivable, including bringing suit in Purchaser's or in the PurchaserCollateral Agent's name.