Common use of Assignment, Assumption and Release Clause in Contracts

Assignment, Assumption and Release. For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Assignor hereby grants, transfers and assigns to the Assignee all of the right, title and interest of the Assignor, as "Purchaser," in, to and under the Sale Agreement and the Mortgage Loans. The Assignee hereby assumes all of the Assignor's right, title, interest and obligations with respect to the Mortgage Loans and the Sale Agreement from and after the date hereof. The Assignor is hereby relieved and released of all of its obligations under the Sale Agreement from and after the date hereof.