Common use of Assignment and Subrogation Clause in Contracts

Assignment and Subrogation. Avid shall be and is entitled to all rights and remedies of Dealer with respect to the Required Documents. Dealer hereby assigns to Avid any and all rights, remedies, warranties, recoveries, or causes of action it may have against any applicant, Buyer or any guarantor(s) with respect to any Required Document, whether arising from the Required Documents, any contract between Dealer and such party or otherwise. Dealer hereby subrogates Avid to any and all rights, remedies, warranties, recoveries or causes of action it may have against any applicant, Buyer or any guarantor(s) with respect to any Required Document, any contract between Dealer and such party, or otherwise. This Agreement shall be binding on, and shall inure to the benefit of, the successors and assigns of the Parties hereto. Dealer agrees that, upon such assignment by ▇▇▇▇, any subsequent assignee may enforce directly, without joinder of Avid, Dealer’s repurchase obligations in Section 8 regarding any breach of the representations and warranties set forth herein. Notwithstanding the preceding sentence, Dealer may not assign this Agreement or any rights or obligations hereunder, voluntarily, involuntarily, by operation of law or otherwise without Avid’s prior written consent, which may be withheld for any reason whatsoever. Avid may assign this Agreement and its rights and obligations under this Agreement if Dealer is not materially and detrimentally affected thereby.

Assignment and Subrogation. Avid shall be and is entitled to all rights and remedies of Dealer with respect to the Required Documents. Dealer hereby assigns to Avid any and all rights, remedies, warranties, recoveries, or causes of action it may have against any applicant, Buyer or any guarantor(s) with respect to any Required Document, whether arising from the Required Documents, any contract between Dealer and such party or otherwise. Dealer hereby subrogates Avid to any and all rights, remedies, warranties, recoveries or causes of action it may have against any applicant, Buyer or any guarantor(s) with respect to any Required Document, any contract between Dealer and such party, or otherwise. This Agreement shall be binding on, and shall inure to the benefit of, the successors and assigns of the Parties hereto. Dealer agrees that, upon such assignment by ▇▇▇▇Avid, any subsequent assignee may enforce directly, without joinder of Avid, Dealer’s repurchase obligations in Section 8 regarding any breach of the representations and warranties set forth herein. Notwithstanding the preceding sentence, Dealer may not assign this Agreement or any rights or obligations hereunder, voluntarily, involuntarily, by operation of law or otherwise without Avid’s prior written consent, which may be withheld for any reason whatsoever. Avid may assign this Agreement and its rights and obligations under this Agreement if Dealer is not materially and detrimentally affected thereby.