Common use of Substitute Contracts Clause in Contracts

Substitute Contracts. (a) In consideration for the transfer by the Issuer to the Company of any Predecessor Contract transferred to the Company by the Issuer in accordance with the terms and conditions of Section 7 of the Contribution and Servicing Agreement, the Company shall transfer to the Issuer on the Substitution Date related thereto, and the Issuer shall accept, a Substitute Contract; PROVIDED that such Substitute Contract is in accordance with the terms and conditions of the Contribution and Servicing Agreement. (b) With respect to all Predecessor Contracts and the ownership or the security interest (as the case maybe) in the related Equipment purchased or replaced by the Contributor pursuant to Section 5 or Section 7 of the Contribution and Servicing Agreement, the Issuer shall deliver to the Company, an instrument substantially in the form of Exhibit B hereto, assigning to the Company, without recourse, representation or warranty (except as to the absence of liens, claims, or encumbrances resulting from actions taken, or failed to be taken, by the Issuer), all of the Issuer's right, title and interest in and to such Predecessor Contracts and the ownership or the security interest (as the case may be) in the related Equipment, and all security and documents relating thereto.

Substitute Contracts. (a) In consideration for the transfer by the Issuer to the Company of any Predecessor Contract transferred to the Company by the Issuer in accordance with the terms and conditions of Section 7 of the Contribution and Servicing Agreement, the Company shall transfer to the Issuer on the Substitution Date related thereto, and the Issuer shall accept, a Substitute Contract; PROVIDED provided that such Substitute Contract is in accordance with the terms and conditions of the Contribution and Servicing Agreement. (b) With respect to all Predecessor Contracts and the ownership or the security interest (as the case maybe) in the related Equipment purchased or replaced by the Contributor pursuant to Section 5 or Section 7 of the Contribution and Servicing Agreement, the Issuer shall deliver to the Company, Company an instrument substantially in the form of Exhibit B hereto, assigning to the Company, without recourse, representation or warranty (except as to the absence of liens, claims, or encumbrances resulting from actions taken, or failed to be taken, by the Issuer), all of the Issuer's right, title and interest in and to such Predecessor Contracts and the ownership or the security interest (as the case may be) in the related Equipment, and all security and documents relating thereto.

Substitute Contracts. (a) In consideration for the transfer by the Issuer to the Company of any Predecessor Contract transferred to the Company by the Issuer in accordance with the terms and conditions of Section 7 of the Contribution and Servicing Agreement, the Company shall transfer to the Issuer on the Substitution Date related thereto, and the Issuer shall accept, a Substitute Contract; PROVIDED provided that such Substitute Contract is in accordance with the terms and conditions of the Contribution and Servicing Agreement. (b) With respect to all Predecessor Contracts and the ownership or the security interest (as the case maybe) in the related Equipment purchased or replaced by the Contributor pursuant to Section 5 or Section 7 of the Contribution and Servicing Agreement, the Issuer shall deliver to the Company, an instrument substantially in the form of Exhibit B hereto, assigning to the Company, without recourse, representation or warranty (except as to the absence of liens, claims, or encumbrances resulting from actions taken, or failed to be taken, by the Issuer), all of the Issuer's right, title and interest in and to such Predecessor Contracts and the ownership or the security interest (as the case may be) in the related Equipment, and all security and documents relating thereto.