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, each Originator transfers and absolutely assigns to the Depositor, without recourse (other than such Originator’s obligations under this Agreement), all of such Originator’s right, title and interest, whether now owned or later acquired, in the Initial Receivables originated by such Originator and the other related Originator Transferred Property. The Initial Receivables transferred by each Originator 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, each Originator transfers and absolutely assigns to the Depositor, without recourse (other than such Originator’s obligations under this Agreement), all of such Originator’s right, title and interest, whether now owned or later acquired, in the Initial Receivables originated by such Originator and the other related Originator Transferred Property. The Initial Receivables transferred by each Originator will be set forth in the electronic file delivered to the Depositor on the Closing Date. For the avoidance of doubt, the Originators will not transfer any Initial Receivables 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, each Originator transfers and absolutely assigns to the Depositor, without recourse (other than such Originator’s 's obligations under this Agreement), all of such Originator’s 's right, title and interest, whether now owned or later acquired, in the Initial Receivables originated by such Originator and the other related Originator Transferred Property. The Initial Receivables transferred by each Originator will be set forth in the electronic file delivered to the Depositor on the Closing Date.