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

Reassignment of Repurchased or Substituted Contracts. Upon receipt by the Indenture Trustee for deposit in the Collection Account of the amounts described in Section 11.01 or Section 11.03 (or upon the Subsequent Transfer Date related to a Substitute Contract described in Section 11.01), and upon receipt of an Officer's Certificate of the Servicer in the form attached hereto as Exhibit F, the Indenture Trustee shall assign to the Issuer and the Issuer shall assign to the Originator all of the Issuer's right, title and interest in the repurchased or substituted Contract and related Conveyed Assets without recourse, representation or warranty. Such reassigned Contract shall no longer thereafter be included in any calculations of Principal Balances required to be made hereunder or otherwise be deemed a part of the Conveyed Assets.