Common use of Seller's Termination Rights Clause in Contracts

Seller's Termination Rights. Upon the termination of the Sellers’ obligations and responsibilities with respect to the Trust pursuant to Section 12.01 and the surrender, if applicable, of any certificated Seller Certificate, the Trustee shall distribute to each Holder of the Seller Certificate such Holder’s pro rata share of any Receivables and Interchange and cash remaining in the Trust in respect of the Seller Interest. Such distribution will be made without recourse, representation or warranty except for the warranty that since the date of transfer by any Seller under this Agreement, the Trustee has not sold, transferred or encumbered any such Receivables, Interchange or interests in either. Such distribution shall transfer all right, title and interest of the Trust in the Receivables and Interchange, whether then existing or thereafter created, and all proceeds of either except, if applicable, for amounts held by the Trustee pursuant to Section 12.02(b). The Trustee shall execute and deliver such instruments of transfer and assignment including, without limitation, any document necessary to release the Trust’s security interest in such Receivables and Interchange and to release any filing evidencing or perfecting such security interest, in each case without recourse, as shall be reasonably requested by the Holder of the Seller Certificate to vest in the Holder of the Seller Certificate all right, title and interest which the Trust had in such Receivables and Interchange.

Seller's Termination Rights. Upon the termination of the Sellers’ ' obligations and responsibilities with respect to the Trust pursuant to Section 12.01 and the surrender, if applicable, surrender of any certificated the Seller Certificate, the Trustee shall distribute sell, assign, and convey to each Greenwood on behalf of the Holder of the Seller Certificate such Holder’s pro rata share of any Receivables and Interchange and cash remaining in the Trust in respect of the Seller Interest. Such distribution will be made (without recourse, representation or warranty except for the warranty that since the date of transfer by any Seller under this Agreement, Agreement the Trustee has not sold, transferred or encumbered any such Receivables, Interchange Receivables or interests in either. Such distribution shall transfer interest therein) all right, title and interest of the Trust in the Receivables and InterchangeReceivables, whether then existing or thereafter created, and all proceeds of either thereof except, if applicable, for amounts held by the Trustee pursuant to Section 12.02(b). The Trustee shall execute and deliver such instruments of transfer and assignment including, without limitation, any document necessary to release the Trust’s 's security interest in such Receivables and Interchange and to release any filing evidencing or perfecting such security interest, in each case without recourse, as shall be reasonably requested by the Holder of the Seller Certificate to vest in the Holder of the Seller Certificate all right, title and interest which the Trust had in such Receivables and Interchangethe Receivables.