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

Reassignment of Substituted or Repurchased Loans. Upon receipt by the Collateral Agent for deposit in the Collection Account of the Transfer Deposit Amount in the case of any repurchased Loan, the Purchaser hereby assigns to the Seller, unless the Administrative Agent is otherwise notified at the time of the sale, all of the Purchaser’s right, title and interest in the Conveyed Assets being repurchased or substituted without recourse, representation or warranty. Such reassigned Loan (together with the other Conveyed Assets related thereto) shall no longer thereafter be deemed a part of the Conveyed Assets.

Reassignment of Substituted or Repurchased Loans. Upon receipt by the Collateral Agent for deposit in the Collection Account of the Transfer Deposit Amount Repurchase Price in the case of any repurchased Loan, the Purchaser hereby assigns to the Seller, unless the Administrative Agent is otherwise notified at the time of the sale, all of the Purchaser’s right, title and interest in the Conveyed Assets being repurchased or substituted without recourse, representation or warranty. Such reassigned Loan (together with the other Conveyed Assets related thereto) shall no longer thereafter be deemed a part of the Conveyed Assets.

Reassignment of Substituted or Repurchased Loans. Upon (i) receipt by the Collateral Agent Trustee for deposit in the Collection Account of the Transfer Deposit Amount Repurchase Price in the case of any repurchased LoanLoan or (ii) the Transfer Date related to a Substitute Loan described in Section 2.5, the Purchaser hereby assigns to the Seller, unless the Administrative Agent is otherwise notified at the time of the sale, Seller all of the Purchaser’s right, title and interest in the Conveyed Assets being repurchased or substituted without recourse, representation or warranty. Such reassigned Loan (together with the other Conveyed Assets related thereto) shall no longer thereafter be deemed a part of the Conveyed Assets.