Second Tier Repurchase Sample Clauses
Second Tier Repurchase. On the Effective Date, the Administrative Agent and the Purchasers hereby sell, assign and transfer to the Seller, without recourse and without representation and warranty, and the Seller hereby purchases and accepts all of the Administrative Agent’s and the Purchasers’ right, title and interest in and to the following (collectively, the “Second Tier Repurchase Assets”):
(a) each Subject Loan; and
(b) all Related Security with respect to each such Subject Loan. For the avoidance of doubt, the Administrative Agent and the Purchasers are not hereby releasing their interests in any amounts resulting from payment of the First Tier Repurchase Price as contemplated by Section 8 below.
Second Tier Repurchase. On the Effective Date (as defined below), the Agent and the Investors hereby sell, assign and transfer to the Company, without recourse and without representation and warranty (other than as set forth in Section 9(c)), and the Company hereby purchases and accepts all of the Agent’s and the Investors’ right, title and interest in and to the following (collectively, the “Second Tier Repurchase Assets”):
(a) each Subject Receivable; and
(b) all rights to, and obligations under, all Related Security with respect to each such Subject Receivable. For the avoidance of doubt, the Agent and Investors are not hereby releasing their interests in the Collections resulting from payment of the First Tier Repurchase Price as contemplated by Section 3 below.