Common use of Acknowledgment and Agreement Clause in Contracts

Acknowledgment and Agreement. By execution below, the Seller expressly acknowledges and consents to the sale of the Exchange Note and the assignment of all rights and obligations of the Seller related thereto by the Buyer to the Issuing Entity pursuant to the Exchange Note Transfer Agreement and the mortgage, pledge, assignment and grant of a security interest in the Exchange Note by the Issuing Entity to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition, the Seller hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have the right to exercise all powers, privileges and claims of the Buyer under this Agreement.

Acknowledgment and Agreement. By execution below, the Seller expressly acknowledges and consents to the sale of the Exchange Note Transaction SUBI and the assignment of all rights and obligations of the Seller related thereto by the Buyer to the Issuing Entity Issuer pursuant to the Exchange Note SUBI Transfer Agreement and the mortgage, pledge, assignment and grant of a security interest in the Exchange Note Transaction SUBI by the Issuing Entity Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition, the Seller hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have the right to exercise all powers, privileges and claims of the Buyer under this Agreement.

Acknowledgment and Agreement. By execution below, the Seller Bank expressly acknowledges and consents to the sale of the Exchange Note Purchased Assets and the assignment of all rights and obligations of the Seller Purchaser related thereto and under this Agreement by the Buyer Purchaser to the Issuing Entity Issuer pursuant to the Exchange Note Transfer Sale Agreement and the mortgage, pledge, assignment and grant Grant of a security interest in the Exchange Note Receivables and the other Purchased Assets by the Issuing Entity Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition, the Seller Bank hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have the right to exercise all powers, privileges and claims of the Buyer Purchaser under this AgreementAgreement in the event that the Purchaser shall fail to exercise the same.