Common use of Assignment of the Purchase Agreement Clause in Contracts

Assignment of the Purchase Agreement. Each of the Borrower and the Borrower Loan Trustee hereby represents, warrants and confirms to the Collateral Agent that each of the Borrower and the Borrower Loan Trustee has collaterally assigned to the Collateral Agent, for the ratable benefit of the Secured Parties hereunder, all of its right and title to and interest in the Purchase Agreement. Each of the Borrower and the Borrower Loan Trustee confirms that the Collateral Agent shall have the sole right to enforce the Borrower’s and the Borrower Loan Trustee’s, as applicable, rights and remedies under the Purchase Agreement for the benefit of the Secured Parties, but without any obligation on the part of the Collateral Agent, the Secured Parties or any of their respective Affiliates, to perform any of the obligations of the Borrower or the Borrower Loan Trustee under the Purchase Agreement. Each of the Borrower and the Borrower Loan Trustee further confirms and agrees that such collateral assignment to the Collateral Agent shall terminate upon the Facility Termination Date; provided, however, that the rights of the Secured Parties pursuant to such collateral assignment with respect to rights and remedies in connection with any indemnities and any breach of any representation, warranty or covenants made by the Originators pursuant to the Purchase Agreement, which rights and remedies survive the termination of the Purchase Agreement, shall be continuing and shall survive any termination of such collateral assignment.

Assignment of the Purchase Agreement. Each of the The Borrower and the Borrower Loan Trustee hereby represents, warrants and confirms to the Collateral Agent that each of the Borrower and the Borrower Loan Trustee has collaterally assigned to the Collateral Agent, for the ratable benefit of the Secured Parties hereunder, all of its right and title to and interest in the Purchase Agreement. Each of the The Borrower and the Borrower Loan Trustee confirms that the Collateral Agent shall have the sole right to enforce the Borrower’s and the Borrower Loan Trustee’s, as applicable, rights and remedies under the Purchase Agreement for the benefit of the Secured Parties, but without any obligation on the part of the Collateral Agent, the Secured Parties or any of their respective Affiliates, to perform any of the obligations of the Borrower or the Borrower Loan Trustee under the Purchase Agreement. Each of the The Borrower and the Borrower Loan Trustee further confirms and agrees that such collateral assignment to the Collateral Agent shall terminate upon the Facility Termination Date; provided, however, that the rights of the Secured Parties pursuant to such collateral assignment with respect to rights and remedies in connection with any indemnities and any breach of any representation, warranty or covenants made by the Originators pursuant to the Purchase Agreement, which rights and remedies survive the termination of the Purchase Agreement, shall be continuing and shall survive any termination of such collateral assignment.