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

Trustee's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 9.02 or purchased by the Servicer pursuant to Section 8.07 or 16.02, the Trustee shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC or purchase by the Servicer, without recourse, representation, or warranty, to UAC or the Servicer (as the case may be) all the Trustee's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Trustee shall, at the Servicer's expense, take such steps as the Trustee deems necessary to enforce the Receivable, including bringing suit in its name or the name of the Certificateholders.

Trustee's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC the Seller pursuant to Section 7.02, 3.2 or deemed to be so repurchased pursuant to Section 9.02 11.2 or purchased by the Servicer pursuant to Section 8.07 4.2 or 16.024.7, the Trustee shall assign, on the day on which the Trustee receives payment for such Receivable, effective as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC the Seller or purchase by the Servicer, without recourse, representation, or warranty, to UAC the Seller or the Servicer (as the case may be) all the Trustee's right, title, and interest in and to such Receivables, and all security and documents relating thereto, and all proceeds thereof, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Trustee shall, at the Servicer's expense, take such steps as the Trustee deems necessary to enforce the Receivable, including bringing suit in its name or the name of the Certificateholders.

Trustee's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC the Seller pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 9.02 3.2 or purchased by the Servicer pursuant to Section 8.07 4.2, 4.7 or 16.0211.2, the Trustee shall assign, on the day on which the Trustee receives payment for such Receivable, effective as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC the Seller or purchase by the Servicer, without recourse, representation, or warranty, to UAC the Seller or the Servicer (as the case may be) all the Trustee's right, title, and interest in and to such Receivables, and all security and documents relating thereto, and all proceeds thereof, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Trustee shall, at the Servicer's expense, take such steps as the Trustee deems necessary to enforce the Receivable, including bringing suit in its name or the name of the Certificateholders.

Trustee's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC BVAC pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 9.02 or purchased by the Servicer pursuant to Section 8.07 or 16.02, the Trustee at the direction of the Depositor shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC BVAC or purchase by the Servicer, without recourse, representation, or warranty, to UAC BVAC or the Servicer (as the case may be) all the Trustee's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Trustee shall, at the Servicer's expense, take such steps as the Trustee deems necessary to enforce the Receivable, including bringing suit in its name or the name of the Certificateholders.

Trustee's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 9.02 or purchased by the Servicer pursuant to Section 8.07 or 16.02, the Trustee shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC or purchase by the Servicer, without recourse, representation, or warranty, to UAC or the Servicer (as the case may be) all the Trustee's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal 50 proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Trustee shall, at the Servicer's expense, take such steps as the Trustee deems necessary to enforce the Receivable, including bringing suit in its name or the name of the Certificateholders.

Trustee's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC CTL pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 9.02 or purchased by the Servicer pursuant to Section 8.07 or 16.02, the Trustee shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC CTL or purchase by the Servicer, without recourse, representation, or warranty, to UAC CTL or the Servicer (as the case may be) all the Trustee's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Trustee shall, at the Servicer's expense, take such steps as the Trustee deems necessary to enforce the Receivable, including bringing suit in its name itsname or the name of the Certificateholders.

Trustee's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC CTL pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 9.02 or purchased by the Servicer pursuant to Section 8.07 or 16.02, the Trustee shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC CTL or purchase by the Servicer, without recourse, representation, or warranty, to UAC CTL or the Servicer (as the case may be) all the Trustee's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Trustee shall, at the Servicer's expense, take such steps as the Trustee deems necessary to enforce the Receivable, including bringing suit in its name or the name of the Certificateholders.

Trustee's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC BVAC pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 9.02 or purchased by the Servicer pursuant to Section 8.07 or 16.02, the Trustee shall assign, as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC BVAC or purchase by the Servicer, without recourse, representation, or warranty, to UAC the Depositor or the Servicer (as the case may be) all the Trustee's right, title, and interest in and to such Receivables, and all security and documents relating thereto, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Trustee shall, at the Servicer's expense, take such steps as the Trustee deems necessary to enforce the Receivable, including bringing suit in its name or the name of the Certificateholders.

Trustee's Assignment of Purchased Receivables. With respect to each Receivable repurchased by UAC the Seller pursuant to Section 7.02, or deemed to be so repurchased pursuant to Section 9.02 3.2 or purchased by the Servicer pursuant to Section 8.07 4.2, 4.7 or 16.0211.2, the Trustee shall assign, on the day on which the Trustee receives payment for such Receivable, effective as of the last day of the Collection Period during which such Receivable became a Defaulted Receivable or became subject to repurchase by UAC the Seller or purchase by the Servicer, without recourse, representation, or warranty, to UAC the Seller or the Servicer (as the case may be) all the Trustee's right, title, and interest in and to such Receivables, and all security and documents relating thereto, and all proceeds thereof, such assignment being an assignment outright and not for security. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, the Trustee shall, at the Servicer's expense, take such steps as the Trustee deems necessary to enforce the Receivable, including bringing suit in its name or the name of the CertificateholdersSecurityholders.