Common use of Reassignment of Repurchased or Substituted Contracts Clause in Contracts

Reassignment of Repurchased or Substituted Contracts. Upon deposit into the Collection Account of the Purchase Amount with respect to an Ineligible Contract as described in Section 7.06 (or upon the Substitution Transfer Date related to a Substitute Contract described in Section 7.06), or of the repurchase price set forth in Section 7.08, the Indenture Trustee shall release and reassign to CFUSA all of the Trust's right and interest in the repurchased or substituted Contract and related Transferred Assets upon receipt of written instruction from the Servicer without recourse, representation or warranty, and such reassigned Contract shall no longer thereafter be included in any calculations of Contract Principal Balances required to be made hereunder or otherwise be deemed a part of the Trust Assets.

Appears in 14 contracts

Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2004-Ef1), Pooling and Servicing Agreement (CIT Equipment Collateral 2005-Ef1), Pooling and Servicing Agreement (Cit Equipment Collateral 2001-1)

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Reassignment of Repurchased or Substituted Contracts. Upon deposit into the Collection Account of the Purchase Amount with respect to an Ineligible Contract as described in Section 7.06 (or upon the Substitution Transfer Date related to a Substitute Contract described in Section 7.06), or of the repurchase price set forth in Section 7.08, the Indenture Trustee shall release and reassign to CFUSA all of the Trust's ’s right and interest in the repurchased or substituted Contract and related Transferred Assets upon receipt of written instruction from the Servicer without recourse, representation or warranty, and such reassigned Contract shall no longer thereafter be included in any calculations of Contract Principal Balances required to be made hereunder or otherwise be deemed a part of the Trust Assets.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (CIT Equipment Collateral 2006-Vt1), Pooling and Servicing Agreement (Cit Equipment Collateral 2006-Vt2)

Reassignment of Repurchased or Substituted Contracts. Upon deposit into the Collection Account of the Purchase Amount with respect to an Ineligible Contract as described in Section 7.06 (or upon the Substitution Transfer Date related to a Substitute Contract described in Section 7.06), or of the repurchase price set forth in Section 7.08, the Indenture Trustee shall release and reassign to CFUSA [ ] all of the Trust's right and interest in the repurchased or substituted Contract and related Transferred Assets upon receipt of written instruction from the Servicer without recourse, representation or warranty, and such reassigned Contract shall no longer thereafter be included in any calculations of Contract Principal Balances required to be made hereunder or otherwise be deemed a part of the Trust Assets.

Appears in 4 contracts

Samples: Transfer Agreement (Asset Backed Securities Corp), Pooling and Servicing Agreement (Gs Mortgage Securities Corp), Transfer Agreement (Ace Securities Corp)

Reassignment of Repurchased or Substituted Contracts. Upon deposit into the Collection Account of the Purchase Amount with respect to an Ineligible Contract as described in Section 7.06 (or upon the Substitution Transfer Date related to a Substitute Contract described in Section 7.06), or of the repurchase price set forth in Section 7.08, the Indenture Trustee shall release and reassign to CFUSA Financial all of the Trust's right and interest in the repurchased or substituted Contract and related Transferred Assets upon receipt of written instruction from the Servicer without recourse, representation or warranty, and such reassigned Contract shall no longer thereafter be included in any calculations of Contract Principal Balances required to be made hereunder or otherwise be deemed a part of the Trust Assets.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Cit Equipment Collateral 2000-2), Pooling and Servicing Agreement (Cit Equipment Collateral 2000-1)

Reassignment of Repurchased or Substituted Contracts. Upon receipt by the Indenture Trustee for deposit into in the Collection Account of the Purchase Amount with respect to an Ineligible Contract Repurchase Price as described in Section 7.06 or Section 7.08 (or upon the Substitution Subsequent Transfer Date related to a Substitute Contract described in Section 7.06), or and upon receipt of a certificate of a Servicing Officer in the repurchase price set forth in Section 7.08form attached hereto as Exhibit G, the Indenture Trustee shall release and reassign assign to CFUSA the original applicable Seller all of the Trust's right right, title and interest in the repurchased or substituted Contract and related Transferred Trust Assets upon receipt of written instruction from the Servicer without recourse, representation or warranty, warranty and such reassigned Contract shall no longer thereafter be included in any calculations of Discounted Contract Principal Balances required to be made hereunder or otherwise be deemed a part of the Trust AssetsTrust.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Heller Funding Corp)

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Reassignment of Repurchased or Substituted Contracts. Upon deposit into the Collection Account of the Purchase Amount with respect to an Ineligible Contract as described in Section 7.06 (or upon the Substitution Transfer Date related to a Substitute Contract described in Section 7.06), or of the repurchase price set forth in Section 7.08, the Indenture Trustee shall release and reassign to CFUSA all of the Trust's right and interest in the repurchased or substituted Contract and related Transferred Assets upon receipt of written instruction from the Servicer without recourse, representation or warranty, and such reassigned Contract shall no longer thereafter be included in any calculations of Contract Principal Balances required to be made hereunder or otherwise be deemed a part of the Trust Assets.

Appears in 1 contract

Samples: Transfer Agreement (NCT Funding Co LLC)

Reassignment of Repurchased or Substituted Contracts. Upon deposit into the Collection Account of the Purchase Amount with respect to an Ineligible Contract as described in Section 7.06 (or upon the Substitution Transfer Date related to a Substitute Contract described in Section 7.06), or of the repurchase price set forth in Section 7.08, the Indenture Trustee shall release and reassign to CFUSA NFUSA all of the Trust's right and interest in the repurchased or substituted Contract and related Transferred Assets upon receipt of written instruction from the Servicer without recourse, representation or warranty, and such reassigned Contract shall no longer thereafter be included in any calculations of Contract Principal Balances required to be made hereunder or otherwise be deemed a part of the Trust Assets.

Appears in 1 contract

Samples: Transfer Agreement (NCT Funding Co LLC)

Reassignment of Repurchased or Substituted Contracts. Upon deposit into the Collection Account of the Purchase Amount with respect to an Ineligible Contract as described in Section 7.06 (or upon the Substitution Transfer Date related to a Substitute Contract described in Section 7.06), or of the repurchase price set forth in Section 7.08, the Indenture Trustee shall release and reassign to CFUSA [_________] all of the Trust's ’s right and interest in the repurchased or substituted Contract and related Transferred Assets upon receipt of written instruction from the Servicer without recourse, representation or warranty, and such reassigned Contract shall no longer thereafter be included in any calculations of Contract Principal Balances required to be made hereunder or otherwise be deemed a part of the Trust Assets.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ace Securities Corp)

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