Common use of Acknowledgement of Further Assignments Clause in Contracts

Acknowledgement of Further Assignments. The Sponsor acknowledges that (a) under the Sale and Servicing Agreement, the Depositor will sell and assign all of its right, title and interest in the Purchased Property and its rights under this Agreement to the Issuer and (b) under the Indenture, the Issuer will assign and pledge the Purchased Property and related property and rights to the Indenture Trustee for the benefit of the Secured Parties.

Acknowledgement of Further Assignments. The Sponsor acknowledges that (a) under the Sale and Servicing Agreement, the Depositor will sell and assign all of its right, title and interest in the Purchased Property and its rights under this Agreement to the Issuer and (b) under the Indenture, the Issuer will assign and pledge the Purchased Property and related property and rights to the Indenture Trustee for the benefit of the Secured Parties.