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

Reassignment of Substituted or Repurchased Collateral Obligations. Upon (a) receipt by the Trustee for deposit in the Collection Account of the Transfer Deposit Amount, in the case of any repurchased Collateral Obligation or (b) upon the Cut-Off Date related to a Substitute Collateral Obligation described in Section 2.5, the Issuer hereby assigns to the Depositor and the Depositor hereby assigns to the Transferor all of the Issuer’s (or Depositor’s, as applicable) right, title and interest in the Collateral Obligation being repurchased or substituted (together with the Assets related thereto) without recourse, representation or warranty. Such reassigned Collateral Obligation (together with the Assets related thereto) shall no longer thereafter be deemed a part of the Assets and shall be deemed released from the security interests created by this Agreement.

Reassignment of Substituted or Repurchased Collateral Obligations. Upon (a) receipt by the Trustee for deposit in the Collection Account of the Transfer Deposit Amount, in the case of any repurchased Collateral Obligation or (b) upon the Cut-Off Settlement Date related to a Substitute Collateral Obligation described in Section 2.5, the Issuer hereby assigns to the Depositor Retention Holder and the Depositor Retention Holder hereby assigns to the Transferor all of the Issuer’s (or DepositorRetention Holder’s, as applicable) right, title and interest in the Collateral Obligation being repurchased or substituted (together with the Assets related thereto) without recourse, representation or warranty. Such reassigned Collateral Obligation (together with the Assets related thereto) shall no longer thereafter be deemed a part of the Assets and shall be deemed released from the security interests created by this Agreement.

Reassignment of Substituted or Repurchased Collateral Obligations. Upon (ai) receipt by the Trustee for deposit in the Collection Account of the Transfer Deposit Amount, in the case of any repurchased Collateral Obligation or (bii) or upon the Cut-Off Date related to a Substitute Collateral Obligation described in Section 2.5, the Issuer hereby assigns to the Depositor and the Depositor hereby assigns to the Transferor Originator all of the Issuer’s (or Depositor’s, as applicable) right, title and interest in the Collateral Obligation being repurchased or substituted (together with the Assets related thereto) without recourse, representation or warranty. Such reassigned Collateral Obligation (together with the Assets related thereto) shall no longer thereafter be deemed a part of the Assets and shall be deemed released from the security interests created by this AgreementAssets.

Reassignment of Substituted or Repurchased Collateral Obligations. Upon (ai) receipt by the Trustee for deposit in the Collection Account of the Transfer Deposit Amount, in the case of any repurchased Collateral Obligation or (bii) upon the Cut-Off Date related to a Substitute Collateral Obligation described in Section 2.5, the Issuer hereby assigns to the Depositor and the Depositor hereby assigns to the Transferor Originator all of the Issuer’s (or Depositor’s, as applicable) right, title and interest in the Collateral Obligation being repurchased or substituted (together with the Assets related thereto) without recourse, representation or warranty. Such reassigned Collateral Obligation (together with the Assets related thereto) shall no longer thereafter be deemed a part of the Assets and shall be deemed released from the security interests created by this AgreementAssets.

Reassignment of Substituted or Repurchased Collateral Obligations. Upon (a) receipt by the Trustee for deposit in the Collection Account of the Transfer Deposit Amount, in the case of any repurchased Collateral Obligation or (b) upon the Cut-Off Settlement Date related to a Substitute Collateral Obligation described in Section 2.5, the Issuer hereby assigns to the Depositor 00000000.0.XXXXXXXX 31 Retention Holder and the Depositor Retention Holder hereby assigns to the Transferor all of the Issuer’s (or DepositorRetention Holder’s, as applicable) right, title and interest in the Collateral Obligation being repurchased or substituted (together with the Assets related thereto) without recourse, representation or warranty. Such reassigned Collateral Obligation (together with the Assets related thereto) shall no longer thereafter be deemed a part of the Assets and shall be deemed released from the security interests created by this Agreement.

Reassignment of Substituted or Repurchased Collateral Obligations. Upon (a) receipt by the Trustee for deposit in the Collection Account of the Transfer Deposit Amount, in the case of any repurchased Collateral Obligation or (b) upon the Cut-Off Settlement Date related to a Substitute Collateral Obligation described in Section 2.5, the Issuer hereby assigns to the Depositor and U.S. Retention Holder, the Depositor U.S. Retention Holder hereby assigns to the Transferor all of the Issuer’s (or DepositorU.S. Retention Holder’s, as applicable) right, title and interest in the Collateral Obligation being repurchased or substituted (together with the Assets related thereto) without recourse, representation or warranty. Such reassigned Collateral Obligation (together with the Assets related thereto) shall no longer thereafter be deemed a part of the Assets and shall be deemed released from the security interests created by this Agreement.