Common use of Trustee's Assignment of Purchased Contracts Clause in Contracts

Trustee's Assignment of Purchased Contracts. With respect to all Contracts repurchased by the Seller pursuant to Section 2.3 or purchased by the Servicer pursuant to Sections 3.7 or 10.2, the Trustee on behalf of the Trust shall assign, without recourse, representation, or warranty to the Seller or the Servicer, as the case may be, all the Trust's right, title, and interest in and to such Contract, and all security and documents relating thereto. The preparation of documents necessary to consummate such an assignment shall be the responsibility of the Seller or the Servicer, as the case may be, and not the responsibility of the Trustee. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Contract on the ground that it shall not be a real party in interest or a holder entitled to enforce the Contract, the Trustee shall, at the Servicer's expense, take such steps as directed in writing by the Servicer to enforce the Contract, including bringing suit in the Trustee's name or the names of the Certificateholders, provided that nothing in this Section 9.3 shall require the Trustee to qualify to do business in a state in which it is not so qualified on the date of this Agreement.

Trustee's Assignment of Purchased Contracts. With respect to all Contracts repurchased by the Seller pursuant to Section 2.3 or purchased by the Servicer pursuant to Sections 3.7 or 10.2, the Trustee on behalf of the Trust shall assign, without recourse, representation, or warranty to the Seller or the Servicer, as the case may be, all the Trust's right, title, and interest in and to such Contract, and all security and documents relating thereto. The preparation of documents necessary to consummate such an assignment shall be the responsibility of the Seller Seller, the Servicer or the ServicerInsurer, as the case may be, and not the responsibility of the Trustee. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Contract on the ground that it shall not be a real party in interest or a holder entitled to enforce the Contract, the Trustee shall, at the Servicer's expense, take such steps as directed in writing by the Servicer to enforce the Contract, including bringing suit in the Trustee's name or the names of the Certificateholders, provided that nothing in this Section 9.3 shall require the Trustee to qualify to do business in a state in which it is not so qualified on the date of this Agreement.the

Trustee's Assignment of Purchased Contracts. With respect to all Contracts repurchased by the Seller pursuant to Section 2.3 or purchased by the Servicer pursuant to Sections 3.7 or 10.2, the Trustee on behalf of the Trust shall assign, without recourse, representation, or warranty to the Seller or the Servicer, as the case may be, all the Trust's right, title, and interest in and to such Contract, and all security and documents relating thereto. The preparation of documents necessary to consummate such an assignment shall be the responsibility of the Seller Seller, the Servicer or the ServicerInsurer, as the case may be, and not the responsibility of the Trustee. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Contract on the ground that it shall not be a real party in interest or a holder entitled to enforce the Contract, the Trustee shall, at the Servicer's expense, take such steps as directed in writing by the Servicer to enforce the Contract, including bringing suit in the Trustee's name or the names of the Certificateholders, provided that nothing in this Section 9.3 shall require the Trustee to qualify to do business in a state in which it is not so qualified on the date of this Agreement.,