Common use of Assignment of Indemnities Clause in Contracts

Assignment of Indemnities. The Transferor acknowledges that, pursuant to the Credit Agreement, the Transferee shall assign its rights of indemnity hereunder to the Collateral Agent, on behalf of the Secured Parties. Upon such assignment, (a) the Collateral Agent, on behalf of the Secured Parties, shall have all rights of the Transferee hereunder and may in turn assign such rights, and (b) the obligations of the Transferor under this Section 8.2 shall inure to the Collateral Agent, on behalf of the Secured Parties. The Transferor agrees that, upon such assignment, the Collateral Agent, on behalf of the Secured Parties, may enforce directly, without joinder of the Transferee, the indemnities set forth in this Article IX.

Assignment of Indemnities. The Transferor acknowledges that, pursuant to the Credit Loan and Servicing Agreement, the Transferee Purchaser shall assign its rights of indemnity granted hereunder to the Collateral Agent, on behalf for the benefit of the Secured Parties. Upon such assignment, (a) the Collateral Agent, on behalf for the benefit of the Secured Parties, shall have all rights of the Transferee Purchaser hereunder and may in turn assign such rights, and (b) the obligations of the Transferor under this Section 8.2 ARTICLE IX shall inure to the Collateral Agent, on behalf for the benefit of the Secured Parties. The Transferor agrees that, upon such assignment, the Collateral Agent, on behalf for the benefit of the Secured Parties, may enforce directly, without joinder of the TransfereePurchaser, the indemnities set forth in this Article ARTICLE IX.