Representations and Warranties of Vendor Services. Vendor Services makes the following representations and warranties, on which Lease Finance relies in purchasing the Leases and in transferring the Leases to the LLC under the Contribution and Servicing Agreement. Such representations are made as of the Closing Date, or with respect to each Substitute Lease, as of the applicable Cut-Off Date, but shall survive the sale, transfer and assignment of the Leases hereunder and the transfer of the Leases and the Residual Realizations by Lease Finance to the LLC under the Contribution and Servicing Agreement, and the Granting thereof under the Indenture. Vendor Services and Lease Finance agree that Lease Finance will assign to the LLC, and the LLC will immediately Grant to the Trustee, all of Lease Finance's rights under this Agreement at the Closing Date and that the Trustee will thereafter be entitled to enforce this Agreement against Vendor Services directly or on behalf of the Noteholders.
Representations and Warranties of Vendor Services. Vendor Services makes the following representations and warranties, on which Lease Finance relies in purchasing the Leases and in transferring the Leases to the LLC under the Contribution and Servicing Agreement. Such representations are made as of the Closing Date, but shall survive the sale, transfer and assignment of the Leases hereunder and the transfer of the Leases and certain rights to the Residual Realizations by Lease Finance to the LLC under the Contribution and Servicing Agreement. Vendor Services and Lease Finance agree that Lease Finance will assign to the LLC all of Lease Finance's rights under this Agreement at the Closing Date and that the LLC will thereafter be entitled to enforce this Agreement against Vendor Services in the LLC's own name.
