Common use of Transfer and Absolute Assignment of Initial Receivables Clause in Contracts

Transfer and Absolute Assignment of Initial Receivables. Effective on the Closing Date and immediately before the transactions under the Transfer and Servicing Agreement, the Trust Agreement and the Indenture, the Master Trust transfers and absolutely assigns to the Depositor, without recourse (other than the obligations of the Servicer with respect to such Receivables under this Agreement), all of the Master Trust’s right, title and interest, whether now owned or later acquired, in the Initial Receivables acquired by it from time to time from various Originators and the other related Master Trust Transferred Property. The Initial Receivables transferred by the Master Trust will be set forth in the electronic file delivered to the Depositor on the Closing Date.

Transfer and Absolute Assignment of Initial Receivables. Effective on the Closing Date and immediately before the transactions under the Transfer and Servicing Agreement, the Trust Agreement and the Indenture, the Master Trust transfers and absolutely assigns to the Depositor, without recourse (other than the obligations of the Servicer with respect to such Receivables under this Agreement), all of the Master Trust’s 's right, title and interest, whether now owned or later acquired, in the Initial Receivables acquired by it from time to time from various Originators and the other related Master Trust Transferred Property. The Initial Receivables transferred by the Master Trust will be set forth in the electronic file delivered to the Depositor on the Closing Date.