Common use of Transferor's Termination Rights Clause in Contracts

Transferor's Termination Rights. Upon the termination of ------------------------------- the Trust pursuant to this Article XII and the surrender of the Transferor ----------- Certificate, the Trustee shall assign, transfer and otherwise convey to the Transferor or its designee (without recourse, representation or warranty) all right, title and interest of the Trust in and to the Receivables and the other Trust Assets, whether then existing or thereafter created, all moneys due or to become due with respect thereto, and all proceeds thereof except for amounts held by the Trustee pursuant to Section 12.03(b), and release and terminate the ---------------- security interest granted pursuant to Section 2.02. The Trustee shall execute ------------ and deliver such instruments of transfer and assignment, and UCC termination statements, in each case prepared by the Transferor and without recourse, representation or warranty, as shall be reasonably requested by the Transferor to vest in the Transferor or its designee all right, title and interest which the Trust had in the Receivables and other Trust Assets and to evidence the release and termination of such security interest.

Appears in 2 contracts

Samples: Servicing Agreement (Safeguard Scientifics Inc Et Al), Servicing Agreement (Compucom Systems Inc)

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Transferor's Termination Rights. Upon the termination ------------------------------- of ------------------------------- the Trust pursuant to this Article XII Section 12.01 and the surrender of the Transferor ----------- CertificateTransferor's Certificates, the Trustee shall assignsell, transfer assign and otherwise convey to the Transferor or its designee (designee, without recourse, representation or warranty) , all right, title and interest of the Trust in and to the Receivables and the other Trust AssetsReceivables, whether then existing or thereafter created, all moneys Related Security with respect thereto, all monies due or to become due and all amounts received with respect thereto, thereto and all proceeds thereof thereof, except for amounts held by the Trustee pursuant to Section 12.03(b12.02(b), and release all of the Transferor's rights, remedies, powers and terminate privileges with respect to such Receivables under the ---------------- security interest granted pursuant to Section 2.02Receivables Purchase Agreements. The Trustee shall execute ------------ and deliver such instruments of transfer and assignment, and UCC termination statements, in each case prepared by the Transferor and without recourse, representation or warranty, as shall be reasonably requested by the Transferor to vest in the Transferor or its designee all right, title and interest which the Trust had in the Receivables and other Trust Assets and to evidence the release and termination of all such security interestproperty.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ford Credit Auto Receivables LLC)

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Transferor's Termination Rights. Upon the termination of the ------------------------------- the Trust pursuant to this Article XII and the surrender of the Transferor ----------- Certificate, the Trustee shall assign, transfer and otherwise convey to the Transferor or its designee (without recourse, representation or warranty) all right, title and interest of the Trust in and to the Receivables and the other Trust Assets, whether then existing or thereafter created, all moneys due or to become due with respect thereto, and all proceeds thereof except for amounts held by the Trustee pursuant to Section 12.03(b), and release and terminate the ---------------- security interest granted pursuant to Section 2.02. The Trustee shall execute ------------ and deliver such instruments of transfer and assignment, and UCC termination statements, in each case prepared by the Transferor and without recourse, representation or warranty, as shall be reasonably requested by the Transferor to vest in the Transferor or its designee all right, title and interest which the Trust had in the Receivables and other Trust Assets and to evidence the release and termination of such security interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Compucom Systems Inc)

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