Replaced Assets definition
Examples of Replaced Assets in a sentence
Upon consummation of such substitution, the Trust shall be deemed to have assigned to the Depositor all of the Trust's right, title and interest in and to the Replaced Assets, without recourse, representation or warranty.
Upon consummation of such substitution, the Trust shall be deemed to have assigned to the Depositor all of the Trust’s right, title and interest in and to the Replaced Assets, without recourse, representation or warranty.
A Purchase shall also be deemed to have occurred upon a substitution of Replaced Assets with Substitute Assets and in connection with an Upgrade; provided that no such substitution or Upgrade shall be deemed usage of the Note Purchase Limit.
As promptly as practicable following its receipt of such assets from the Retrocessionaire, the Retrocedant may direct such assets to be credited to the applicable Security Account and, at the cost of the Retrocessionaire, transfer to the Retrocessionaire, the Replaced Assets released by the Custodian to the Retrocedant therefrom.
Such assignment of the Replaced Assets to the Trust Depositor shall be without recourse to the Indenture Trustee and the Trust and free and clear of any Lien created pursuant to this Agreement, and neither the Indenture Trustee nor the Trust shall be deemed to make any representation or warranty, express or implied.