Transfer of Conveyed Assets. Each Seller, Receivables III and each Investor understands that the Trust intends to pledge the Pledged Property to the Indenture Trustee on behalf of the Note Insurer and the Noteholders, pursuant to the Indenture. Each Seller and each Investor agrees that such assignee of the Trust may exercise the rights of the Trust hereunder and shall be entitled to all of the benefits of the Trust hereunder to the extent provided for in such assignment.
Transfer of Conveyed Assets. Each of the Transferor, ALS, as the Originator, and the Servicer understands that the Issuer intends to pledge the Trust Estate to the Indenture Trustee for the benefit of the Beneficiaries pursuant to the Indenture. Each of the Transferor, ALS, as the Originator, and the Servicer agrees that, upon the occurrence of an Event of Default, the Indenture Trustee may exercise the rights of the Issuer hereunder and shall be entitled to all of the benefits to which the Issuer is entitled hereunder to the extent provided for in the Indenture.
Transfer of Conveyed Assets. The Originator understands that the Transferors intend to pledge the Conveyed Assets and their respective rights under this Agreement to the Indenture Trustee, on behalf of the Trust, as collateral security for its obligations on the Pledged Notes, and that the Trust intends to pledge the Pledged Property to the Indenture Trustee, on behalf of the Note Insurer and the Noteholders, pursuant to the Indenture. The Originator agrees that any such assignee of the Transferors may exercise the rights of the Transferors hereunder, without any consent or action by either Transferor, and shall be entitled to all of the benefits of the Transferors hereunder to the extent provided for in such assignment.
Transfer of Conveyed Assets. Section 2.01Direction; Acquisition; Capital Contribution..................2 Section 2.02Custody of Contract Files.....................................4 Section 2.03Intention of the Parties; Grant of Security Interest..........4
Transfer of Conveyed Assets. 3 SECTION 2.01 Direction; Acquisition of Initial Conveyed Assets.........................3 SECTION 2.02 Conveyance of Subsequent Conveyed Assets..................................5 SECTION 2.03 Pre-Funding Account.......................................................7 SECTION 2.04 Capitalized Interest Account..............................................7 SECTION 2.05 Custody of Contract Files.................................................7
Transfer of Conveyed Assets. 21 Section 2.02. Closing........................................................22
Transfer of Conveyed Assets. Each of the Transferors, the Originator and the Servicer understands that the Issuers intend to pledge the Pledged Property to the Indenture Trustee for the benefit of the Noteholders pursuant to the Indenture. Each of the Transferors, the Originator and the Servicer agrees that the Indenture Trustee may exercise the rights of the Issuers hereunder and shall be entitled to all of the benefits to which the Issuers are entitled to hereunder to the extent provided for herein.
Transfer of Conveyed Assets. Each Seller, Receivables III and each Investor understands that the Transferor intends to convey the Conveyed Assets and its rights under this Agreement to the Trust and the Trust intends to pledge the Pledged Property to the Indenture Trustee on behalf of the Note Insurer, the Letter of Credit Bank and the Noteholders, as their interests may appear, pursuant to the Indenture. Each Seller and each Investor agrees that any such assignee of the Transferor may exercise the rights of the Transferor hereunder and shall be entitled to all of the benefits of the Transferor hereunder to the extent provided for in such assignment.
Transfer of Conveyed Assets. In consideration of the Issuer's delivery to or upon the order of the Transferor cash and the increase in the value of the Transferor's membership interest in the Issuer, the sufficiency of which is hereby acknowledged, the Transferor does hereby sell, transfer, assign, set over, contribute, quitclaim, and otherwise convey to the Issuer, without recourse (subject to the obligations of the Transferor herein) all right, title and interest of the Transferor in and to all the following, whether now owned or hereafter acquired:
Transfer of Conveyed Assets. First Sierra understands that Company intends to convey the Conveyed Assets and its rights under this Agreement to Trustee on behalf of the Certificate Insurer and the Certificateholders pursuant to the Pooling and Servicing Agreement. First Sierra agrees that any such assignee of Company may exercise the rights of Company hereunder and shall be entitled to all of the benefits of Company hereunder to the extent provided for in such assignment.
