Trustee's Assignment of Purchased Receivables. With respect to all Receivables repurchased by Servicer pursuant to Section 2.4 or Section 10.2, or purchased by Servicer pursuant to Section 3.7 or Section 10.2, Trustee shall assign, without recourse, representation or warranty, to Servicer, all of Trustee's right, title and interest in and to such Receivables, and all security and documents and all other Trust Property conveyed pursuant to Section 2.1 with respect to such Receivables. Such assignment shall be a sale and assignment outright, and not for security. If, in any enforcement suit or legal proceeding, it is held that Servicer, may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Trustee shall, at the expense of Servicer, take such steps as Servicer, deems necessary to enforce the Receivable, including bringing suit in Trustee's name or the names of the Holders.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Bas Securitization LLC), Pooling and Servicing Agreement (Bas Securitization LLC), Pooling and Servicing Agreement (Volkswagen Public Auto Loan Securitization LLC)
Trustee's Assignment of Purchased Receivables. With respect to all Receivables repurchased by Servicer pursuant to Section 2.4 or Section 10.2, or purchased by Servicer pursuant to Section 3.7 or Section 10.2, Trustee shall assign, without recourse, representation or warranty, to Servicer, all of Trustee's ’s right, title and interest in and to such Receivables, and all security and documents and all other Trust Property conveyed pursuant to Section 2.1 with respect to such Receivables. Such assignment shall be a sale and assignment outright, and not for security. If, in any enforcement suit or legal proceeding, it is held that Servicer, may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Trustee shall, at the expense of Servicer, take such steps as Servicer, deems necessary to enforce the Receivable, including bringing suit in Trustee's ’s name or the names of the Holders.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Usaa Acceptance LLC), Pooling and Servicing Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Trustee's Assignment of Purchased Receivables. With respect to all Receivables repurchased by Servicer pursuant to Section 2.4 or Section 10.2, or purchased by Servicer pursuant to Section 3.7 or Section 10.2, Trustee shall assign, without recourse, representation or warranty, to Servicer, all of Trustee's right, title and interest in and to such Receivables, and all security and documents and all other Trust Property conveyed pursuant to Section 2.1 with respect to such Receivables. Such assignment shall be a sale and assignment outright, and not for security. If, in any enforcement suit or legal proceeding, it is held that Servicer, may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Trustee shall, at the expense of Servicer, take such steps as Servicer, deems necessary to enforce the Receivable, including bringing suit in Trustee's name or the names of the Holders.. 58
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Volkswagen Public Auto Loan Securitization LLC)
