Common use of Transfer and Assignment of Reconveyed Receivable Clause in Contracts

Transfer and Assignment of Reconveyed Receivable. For any reacquisition of a Receivable by an Originator under this Section 3.4, the Trust will be deemed to have transferred and absolutely assigned to such Originator, effective as of the Reconveyance Date, all of the Trust’s right, title and interest in such Receivable and all security and documents relating to such Receivable, and such Originator will be entitled to all collections on or proceeds of the Reconveyed Receivable on and after the related Reconveyance Cutoff Date. The transfer and absolute assignment will not require any action by the Depositor or the Trust and will be without recourse, representation or warranty by the Depositor or the Trust, except that such Receivable is free of any Liens, other than Permitted Liens. After the transfer and absolute assignment, the Servicer will xxxx its receivables systems to indicate that the Reconveyed Receivable is no longer a Receivable and may take any action necessary or advisable to transfer and absolutely assign the Reconveyed Receivable, free from any Lien of the Depositor, the Trust or the Master Collateral Agent.

Transfer and Assignment of Reconveyed Receivable. For any reacquisition acquisition of a Receivable by an Originator the Servicer under this Section 3.4, the Trust will be deemed to have transferred and absolutely assigned to such Originatorthe Servicer, effective as of the Reconveyance Date, all of the Trust’s right, title and interest in such Receivable and all security and documents relating to such Receivable, and such Originator the Servicer will be entitled to all collections on or proceeds of the Reconveyed Receivable on and after the related Reconveyance Cutoff Date. The transfer and absolute assignment will not require any action by the Depositor or the Trust and will be without recourse, representation or warranty by the Depositor or the Trust, except that such Receivable is free of any Liens, other than Permitted Liens. After the transfer and absolute assignment, the Servicer will xxxx its receivables systems to indicate that the Reconveyed Receivable is no longer a Receivable and may take any action necessary or advisable to transfer and absolutely assign the Reconveyed Receivable, free from any Lien of the Depositor, the Trust or the Master Collateral Agent.

Transfer and Assignment of Reconveyed Receivable. For any reacquisition acquisition of a Receivable by an Originator the Servicer under this Section 3.42.7, the Trust will be deemed to have transferred and absolutely assigned to such Originatorthe Servicer, effective as of the Reconveyance Date, all of the Trust’s right, title and interest in such Receivable and all security and documents relating to such Receivable, and such Originator the Servicer will be entitled to all collections on or proceeds of the Reconveyed Receivable on and after the related Reconveyance Cutoff Date. The transfer and absolute assignment will not require any action by the Depositor or the Trust and will be without recourse, representation or warranty by the Depositor or the Trust, except that such Receivable is free of any Liens, other than Permitted Liens. After the transfer and absolute assignment, the Servicer will xxxx its receivables systems to indicate that the Reconveyed Receivable is no longer a Receivable and may take any action necessary or advisable to transfer and absolutely assign the Reconveyed Receivable, free from any Lien of the Depositor, the Trust or the Master Collateral Agent.

Transfer and Assignment of Reconveyed Receivable. For any reacquisition acquisition of a Receivable by an Originator the Servicer under this Section 3.4, the Trust will be deemed to have transferred and absolutely assigned to such Originatorthe Servicer, effective as of the Reconveyance Date, all of the Trust’s right, title and interest in such Receivable and all security and documents relating to such Receivable, and such Originator the Servicer will be entitled to all collections on or proceeds of the Reconveyed Receivable on and after the related Reconveyance Cutoff Date. The transfer and absolute assignment will not require any action by the Depositor or the Trust and will be without recourse, representation or warranty by the Depositor or the Trust, except that such Receivable is free of any Liens, other than Permitted Liens. After the transfer and absolute assignment, the Servicer will xxxx mark its receivables systems to indicate that the Reconveyed Receivable is no longer a Receivable and may take any action necessary or advisable to transfer and absolutely assign the Reconveyed Receivable, free from any Lien of the Depositor, the Trust or the Master Collateral Agent.