Common use of SURVIVAL OF RIGHTS AND REMEDIES Clause in Contracts

SURVIVAL OF RIGHTS AND REMEDIES. Where there exists any right or obligation of the Trustee in relation to Receivables to be acquired from a Warehouse Trust, including any: (a) Trust Back in relation to the Receivables; (b) Approved Seller repurchase obligation under clause 12.6(d); (c) Approved Seller representations or undertakings under clause 12.6(a); or (d) limitation as to priority of payments on enforcement of the Receivables, the Trustee (in its capacity as Trustee of the Trust acquiring the Receivables (the New Trust)), will acquire those Receivables with the benefit of those rights and subject to those obligations. Where any rights or obligations of the Trustee in relation to the Receivables cannot be transferred to the Trustee in its capacity as trustee of the New Trust, clauses 11.7(d), 11.7(e) and 11.7(g) will apply.

SURVIVAL OF RIGHTS AND REMEDIES. Where there exists any right or obligation of the Trustee in relation to Receivables to be acquired from a Warehouse Trust, including any: (a) Trust Back in relation to the Receivables; (b) Approved Seller repurchase obligation under clause 12.6(d8.6(d); (c) Approved Seller representations or undertakings under clause 12.6(a8.6(a); or (d) limitation as to priority of payments on enforcement of the Receivables, the Trustee (in its capacity as Trustee of the Trust acquiring the Receivables (the New Trust)), will acquire those Receivables with the benefit of those rights and subject to those obligations. Where any rights or obligations of the Trustee in relation to the Receivables cannot be transferred to the Trustee in its capacity as trustee of the New Trust, clauses 11.7(d7.7(d), 11.7(e7.7(e) and 11.7(g7.7(g) will apply.