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

Reassignment of Repurchased or Substituted Loans. Upon receipt by the Indenture Trustee for deposit in the Principal and Interest Account of the amounts described in Section 11.01 (or upon the Subsequent Transfer Date related to a Substitute Loan described in Section 11.01), the Indenture Trustee shall assign to the Trust Depositor and the Trust Depositor shall assign to the Originator all of the Issuer’s (or Trust Depositor’s, as applicable) right, title and interest in the repurchased or substituted Loan and related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances required to be made hereunder or otherwise be deemed a part of the Issuer.

Reassignment of Repurchased or Substituted Loans. Upon receipt by the Indenture Trustee for deposit in the Principal and Interest Collection Account of the amounts described in Section 11.01 (or upon the Subsequent Transfer Substitute Loan Cutoff Date related to a Substitute Loan described in Section 11.01), and upon receipt of an Officer’s Certificate of the Indenture Servicer in the form attached hereto as Exhibit E hereto, the Trustee shall assign to the Trust Depositor and the Trust Depositor Issuer shall assign release and assign, as the case may be, to the Originator all of the Trustee’s and the Issuer’s (or Trust Depositor’s, as applicable) right, title and interest in the Loans being repurchased or substituted Loan and for the related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances required to be made hereunder or otherwise be deemed a part of the IssuerCollateral.

Reassignment of Repurchased or Substituted Loans. Upon receipt by the Indenture Trustee for deposit in the Principal and Interest Collection Account of the amounts described in Section ‎Section 11.01 (or upon the Subsequent Transfer Substitute Loan Cutoff Date related to a Substitute Loan described in Section ‎Section 11.01), and upon receipt of an Officer’s Certificate of the Indenture Servicer in the form attached hereto as Exhibit E hereto, the Trustee shall assign to the Trust Depositor and the Trust Depositor Issuer shall assign release and assign, as the case may be, to the Originator all of the Trustee’s and the Issuer’s (or Trust Depositor’s, as applicable) right, title and interest in the Loans being repurchased or substituted Loan and for the related Loan Assets without recourse, representation or warranty. Such reassigned Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances required to be made hereunder or otherwise be deemed a part of the IssuerCollateral.

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

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