Common use of Transfer of Initial Receivables Clause in Contracts

Transfer of Initial Receivables. On the Initial Closing Date and simultaneously with the transactions to be consummated pursuant to the Trust Agreement, the Indenture and the Sale and Servicing Agreement, the Seller shall sell, transfer, assign, grant, set over and otherwise convey to the Purchaser, without recourse (subject to the obligations herein and in the Sale and Servicing Agreement), all right, title and interest of the Seller in and to (i) the Initial Samco Receivables listed in the Schedule of Samco Receivables and, with respect to Rule of 78's Receivables, all monies due or to become due thereon after the Cutoff Date (including Scheduled Payments due after the Cutoff Date (including principal prepayments relating to such Scheduled Payments) but received by the Seller on or before the Cutoff Date) and, with respect to Simple Interest Receivables, all monies received thereunder after the Cutoff Date and all Liquidation Proceeds and Recoveries received with respect to such Initial Samco Receivables; (ii) the security interests in the Financed Vehicles granted by Obligors pursuant to the Samco Receivables and any other interest of the Seller in such Financed Vehicles, including, without limitation, the certificates of title or, with respect to Financed Vehicles in the State of Michigan, other evidence of ownership with respect to Financed Vehicles; (iii) any proceeds from claims on any physical damage, credit life and credit accident and health insurance policies or certificates relating to the Financed Vehicles securing the Initial Samco Receivables or the Obligors thereunder; (iv) refunds for the costs of extended service contracts with respect to Financed Vehicles securing the Initial Samco Receivables, refunds of unearned premiums with respect to credit life and credit accident and health insurance policies or certificates covering an Obligor or Financed Vehicle securing the Initial Samco Receivables or his or her obligations with respect to such a Financed Vehicle and any recourse to Dealers for any of the foregoing; (v) the Receivable File related to each Initial Samco Receivable; and (vi) the proceeds of any and all of the foregoing (collectively, the "Initial Transferred Samco Property" and together with the Initial Transferred CPS Property, the "Initial Transferred Property").

Transfer of Initial Receivables. On the Initial Closing Date and simultaneously with the transactions to be consummated pursuant to the Trust Agreement, the Indenture and the Sale and Servicing Agreement, the Seller shall sell, transfer, assign, grant, set over and otherwise convey to the Purchaser, without recourse (subject to the obligations herein and in the Sale and Servicing Agreement), all right, title and interest of the Seller in and to (i) the Initial Samco CPS Receivables listed in the Initial Schedule of Samco CPS Receivables and, with respect to Rule of 78's Receivables, all monies due or to become due thereon after the Cutoff Date (including Scheduled Payments due after the Cutoff Date (including principal prepayments relating to such Scheduled Payments) but received by the Seller on or before the Cutoff Date) and, with respect to Simple Interest Receivables, and all monies received thereunder after the Cutoff Date and all Net Liquidation Proceeds and Recoveries received with respect to such Initial Samco CPS Receivables; (ii) the security interests in the Financed Vehicles granted by Obligors pursuant to the Samco Initial CPS Receivables and any other interest of the Seller in such Financed Vehicles, including, without limitation, the certificates of title or, with respect to Financed Vehicles in the State of Michigan, other evidence of ownership with respect to such Financed Vehicles; (iii) any proceeds from claims on any physical damage, credit life and credit accident and health insurance policies or certificates relating to the Financed Vehicles securing the Initial Samco CPS Receivables or the Obligors thereunder; (iv) refunds for the costs of extended service contracts with respect to Financed Vehicles securing the Initial Samco CPS Receivables, refunds of unearned premiums with respect to credit life and credit accident and health insurance policies or certificates covering an Obligor under an Initial CPS Receivable or Financed Vehicle securing the an Initial Samco Receivables CPS Receivable or his or her obligations with respect to such a Financed Vehicle and any recourse to Dealers for any of the foregoing; (v) the Receivable File related to each Initial Samco CPS Receivable; and (vi) the proceeds of any and all of the foregoing and (vii) all present and future claims, demands, causes and choses in action in respect of any or all of the foregoing and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all of the foregoing, including all proceeds of the conversion, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing (collectively, the "Initial Transferred Samco CPS Property" and together with the Initial Transferred CPS Samco Property and the Transferred Linc Property, the "Initial Transferred Property").

Transfer of Initial Receivables. On the Initial Closing Date and simultaneously with the transactions to be consummated pursuant to the Trust Agreement, the Indenture and the Sale and Servicing Agreement, the Seller Originator shall sell, transfer, assign, grant, set over and otherwise convey to the PurchaserTransferor, without recourse (subject to the obligations herein and in the Sale and Servicing Agreement), all of its right, title and interest of the Seller in in, to and to under: (i) the Initial Samco Receivables listed in the Schedule of Samco Receivables and, with respect to Rule of 78's Receivables, A hereto and all monies due or to become due thereon amounts received after the Cutoff Initial Cut-off Date (including Scheduled Payments and all amounts due after the Cutoff Date (including principal prepayments relating to such Scheduled Payments) but received by the Seller thereunder on or before the Cutoff Date) and, with respect to Simple Interest Receivables, all monies Initial Cut-off Date but received thereunder after the Cutoff Date and all Liquidation Proceeds and Recoveries received with respect to such Initial Samco ReceivablesCut-off Date; (ii) the security interests in the Financed Vehicles granted by Obligors pursuant to the Samco Initial Receivables and any accessions thereto, and any other interest of the Seller Originator in such Financed VehiclesVehicles and accessions, including, without limitation, the certificates of title or, with respect to Financed Vehicles in the State of Michigan, and other evidence of ownership with respect to such Financed Vehicles; (iii) any proceeds from claims on any physical damage, credit life and credit accident and health or disability, GAP or other insurance policies thereon covering the Financed Vehicles or certificates the Obligors relating to the Financed Vehicles securing Initial Receivables and any proceeds from the liquidation of Initial Samco Receivables or the Obligors thereunder; Financed Vehicles, (iv) refunds for all property (including the costs of extended service contracts with respect right to Financed Vehicles securing the receive future Liquidation Proceeds) that secures an Initial Samco Receivables, refunds of unearned premiums with respect to credit life Receivable and credit accident and health insurance policies that has been acquired by or certificates covering an Obligor or Financed Vehicle securing the Initial Samco Receivables or his or her obligations with respect to such a Financed Vehicle and any recourse to Dealers for any on behalf of the foregoingTransferor pursuant to the liquidation of such Initial Receivable; (v) the Dealer Recourse relating to the Initial Receivables; (vi) rebates or refunds of premiums and other amounts relating to insurance policies and other items financed under the Initial Receivables or otherwise covering an Obligor or a Financed Vehicle; (vii) all amounts and property from time to time held in or credited to the Lock-Box Account (to the extent such amounts and property in the Lock-Box Account relate to the Initial Receivables); (viii) the Receivable File related Files and all other documents that the Originator keeps on file in accordance with its customary procedures relating to each the Initial Samco ReceivableReceivables, or the Obligors or Financed Vehicles relating thereto; and (viix) the proceeds of any and all of the foregoing (collectively, the "Initial Transferred Samco Property" and together with the Initial Transferred CPS Property, property set forth in clauses (i) through (ix) above the "Initial Transferred Property").

Transfer of Initial Receivables. On the Initial Closing Date and simultaneously with the transactions to be consummated pursuant to the Trust Agreement, the Indenture and the Sale and Servicing Agreement, the Seller Originator shall sell, transfer, assign, grant, set over and otherwise convey to the PurchaserTransferor, without recourse (subject to the obligations herein and in the Sale and Servicing Agreement), all of its right, title and interest of the Seller in in, to and to under: (i) the Initial Samco Receivables listed in the Schedule of Samco Receivables and, with respect to Rule of 78's Receivables, A hereto and all monies amounts due on or to become due thereon after the Cutoff Initial Cut-off Date (including Scheduled Payments due and received after the Cutoff Date (including principal prepayments relating to such Scheduled Payments) but received by the Seller on or before the Cutoff Initial Cut-off Date) and, with respect to Simple Interest Receivables, all monies received thereunder after the Cutoff Date and all Liquidation Proceeds and Recoveries received with respect to such Initial Samco Receivables; (ii) the security interests in the Financed Vehicles granted by Obligors pursuant to the Samco Initial Receivables and any accessions thereto, and any other interest of the Seller Originator in such Financed VehiclesVehicles and accessions, including, without limitation, the certificates of title or, with respect to Financed Vehicles in the State of Michigan, and other evidence of ownership with respect to such Financed Vehicles; (iii) any proceeds from claims on any physical damage, credit life and credit accident and health or disability, GAP or other insurance policies thereon covering the Financed Vehicles or certificates the Obligors relating to the Financed Vehicles securing Initial Receivables and any proceeds from the liquidation of Initial Samco Receivables or the Obligors thereunder; Financed Vehicles, (iv) refunds for all property (including the costs of extended service contracts with respect right to Financed Vehicles securing the receive future Liquidation Proceeds) that secures an Initial Samco Receivables, refunds of unearned premiums with respect to credit life Receivable and credit accident and health insurance policies that has been acquired by or certificates covering an Obligor or Financed Vehicle securing the Initial Samco Receivables or his or her obligations with respect to such a Financed Vehicle and any recourse to Dealers for any on behalf of the foregoingTransferor pursuant to the liquidation of such Initial Receivable; (v) the Dealer Recourse relating to the Initial Receivables; (vi) rebates or refunds of premiums and other amounts relating to insurance policies and other items financed under the Initial Receivables or otherwise covering an Obligor or a Financed Vehicle; (vii) all amounts and property from time to time held in or credited to any of the Trust Accounts and the Lock-Box Account (to the extent such amounts and property in the Lock-Box Account relate to the Initial Receivables); (viii) the Receivable File related Files and all other documents that the Originator keeps on file in accordance with its customary procedures relating to each the Initial Samco ReceivableReceivables, or the Obligors or Financed Vehicles relating thereto; and (viix) the proceeds of any and all of the foregoing (collectively, the "Initial Transferred Samco Property" and together with the Initial Transferred CPS Property, property set forth in clauses (i) through (ix) above the "Initial Transferred Property").