Common use of Transfer of Seller’s Interest Clause in Contracts

Transfer of Seller’s Interest. With respect to each transfer of a Transferred Asset, (a) the Purchaser shall, as to each Transferred Asset, be a party to the relevant underlying instruments and have the rights and obligations of a lender thereunder, and (b) the Seller shall, to the extent provided in this Agreement, and the applicable underlying instruments, relinquish its rights and be released from its obligations, as to each Transferred Asset. The obligors or agents on the Transferred Asset were or will be notified of the transfer of the Transferred Asset to the Purchaser to the extent required under the applicable underlying instruments. The Trustee will have possession of the related underlying instrument (including the underlying promissory notes, if any).

Transfer of Seller’s Interest. With respect to each transfer of a Transferred Asset, (a) the Purchaser shall, as to each Transferred Asset, be a party to the relevant underlying instruments and have the rights and obligations of a lender thereunder, and (b) the Seller shall, to the extent provided in this Agreement, and the applicable underlying instruments, relinquish its rights and be released from its obligations, as to each Transferred Asset. The obligors or agents on the Transferred Asset were or will be notified of the transfer of the Transferred Asset to the Purchaser to the extent required under the applicable underlying instruments. The Collateral Trustee will have possession of the related underlying instrument (including the underlying promissory notes, if any).

Transfer of Seller’s Interest. With respect to each transfer of a Transferred AssetAsset on any Purchase Date, (ai) the Purchaser shall, as to each Transferred Asset, be a party to the relevant underlying instruments Underlying Instruments and have the rights and obligations of a lender thereunder, and (bii) the Seller shall, to the extent provided in this Agreement, and the applicable underlying instrumentsUnderlying Instruments, relinquish its rights and be released from its obligations, as to each Transferred Asset. The obligors or agents on the Transferred Asset were or will be notified of the transfer of the Transferred Asset to the Purchaser to the extent required under the applicable underlying instrumentsUnderlying Instruments. The Trustee Purchaser, the Servicer or the Collateral Agent will have possession of the related underlying instrument Underlying Instrument (including the underlying promissory notes, if any).

Transfer of Seller’s Interest. With respect to each transfer of a Transferred Asset, (a) the Purchaser shall, as to each Transferred Asset, be a party to the relevant underlying instruments and have the rights and obligations of a lender thereunder, and (b) the each Seller shall, to the extent provided in this Agreement, and the applicable underlying instruments, relinquish its rights and be released from its obligations, as to each Transferred Asset. The obligors or agents on the Transferred Asset were or will be notified of the transfer of the Transferred Asset to the Purchaser to the extent required under the applicable underlying instruments. The Trustee will have possession of the related underlying instrument (including the underlying promissory notes, if any).

Transfer of Seller’s Interest. With respect to each transfer of a Transferred Asset, (ai) the Purchaser shall, as to each Transferred Asset, be a party to the relevant underlying instruments and have the rights and obligations of a lender thereunder, and (bii) the Seller shall, to the extent provided in this Agreement, and the applicable underlying instruments, relinquish its rights and be released from its obligations, as to each Transferred Asset. The obligors or agents on the Transferred Asset were or will be notified of the transfer of the Transferred Asset to the Purchaser to the extent required under the applicable underlying instruments. The Collateral Trustee will have possession of the related underlying instrument (including the underlying promissory notes, if any).

Transfer of Seller’s Interest. With respect to each transfer of a Transferred Asset, (ai) the Purchaser shall, as to each Transferred Asset, be a party to the relevant underlying instruments and have the rights and obligations of a lender thereunder, and (bii) the Seller shall, to the extent provided in this Agreement, and the applicable underlying instruments, relinquish its rights and be released from its obligations, as to each Transferred Asset. The obligors or agents on the Transferred Asset were or will be notified of the transfer of the Transferred Asset to the Purchaser to the extent required under the applicable underlying instruments. The Trustee will have possession of the related underlying instrument (including the underlying promissory notes, if any).

Transfer of Seller’s Interest. With respect to each transfer of a Transferred AssetAsset on any Purchase Date, (ai) the Purchaser shall, as to each Transferred Asset, be a party to the relevant underlying instruments Underlying Instruments and have the rights and obligations of a lender thereunder, and (bii) the Seller shall, to the extent provided in this Agreement, and the applicable underlying instrumentsUnderlying Instruments, relinquish its rights and be released from its obligations, as to each Transferred Asset. The obligors or agents on the Transferred Asset were or will be notified of the transfer of the Transferred Asset to the Purchaser to the extent required under the applicable underlying instrumentsUnderlying Instruments. The Trustee Purchaser, the Portfolio Manager or the Collateral Agent will have possession of the related underlying instrument Underlying Instruments (including the underlying promissory notes, if any).